Consumer complaint received 2023-12-21
Company: SYNCHRONY FINANCIAL
State: CO
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
Following XXXX, was pointed to CareCredit as a financing option for my procedure by the XXXX. Spoke with CareCredit who told me they offered interest free financing for my procedure via their credit card and recommended we set up an account, set up autopay and paperless billing and " you'll be fine from there '', all of which we did immediately. We continued paying the established monthly amount ( {$140.00} ) via autopay on a monthly basis and never missed a single payment. 

Which is why we were confused and suprised to find our balance jump from {$4400.00} on XX/XX/2023 to {$8000.00} on XX/XX/2023, despite not having made a purchase with the card in years. 

I began calling CareCredit in an attempt to resolve the issue late summer XXXX. As part of that process, I learned that CareCredit had also added an optional " XXXX XXXX XXXX '' as an additional monthly cost and " feature '' to my account during initial account setup. This was not only something I'd never heard of, but also never requested by any means. ~ {$1500.00} of the {$8000.00} balance increase on XX/XX/2023 was attributed to that XXXX XXXX XXXX which, ironically, they had a very quick and easy resolution to and had that cost removed within XXXX hours. It struck me as not a coincidence and a likely very common complaint as they obviously had an existing, quick refund process in place. Something that clearly gets added to many/most accounts without the clients knowledge until they get caught, which they then quickly reverse once ( and only ) when called on it and caught. 

It was at that point that I became aware of Docket # XXXX filed with the CFPB where CareCredit was forced to XXXX a $ XXXX settlement to " more than XXXX XXXX consumers who were victims of deceptive credit card enrollment tactics. '' Given the optional " Payment Protection Insurance '' cost that was initially added to my account without my knowledge and the " interest free payment plan '' that was actually not at all " interest fee '' ( unbeknownst to XXXX ) and led to an unanticipated {$3500.00} XXXX month balance increase, I feel strongly we fell victim to the same " deceptive enrollment tactics '' CareCredit was previously found guilty of on Docket # XXXX. 

As an attempt to resolve this and avoid filing a formal CFPB complaint, I have filed XXXX formal complaints with the company which I've received XXXX resolution or communication on. I spent XXXX hours on the phone again today speaking with their Collections department. I have requested, multiple times, to speak with someone about settling my XX/XX/2023 XXXX of {$4400.00}, the amount prior to the unexpected and undisclosed back dated interest hit ( additional {$3500.00} ). I have been told repeatedly there is no department or person available to even have that conversation. Settlement isn't even an option. Essentially, " there's simply no person or department for you to talk to about a settlement of this account. You're forced to pay the full amount. '' The deceptive enrollment tactics ( {$1500.00} in payment insurance costs added without my knowledge or consent, " interest free '' marketing despite being quite clearly and deceptively not interest free ), our auto-paying the monthly allotted amount every month and still getting hit with massive back interest despite never missing a payment, and ultimately the inability to even speak with someone about a possible settlement are why I've been left with no choice but filing a formal complaint.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation