Consumer complaint received 2020-10-03
Company: SYNCHRONY FINANCIAL
State: GA
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
On Tues, XX/XX/XXXX, I went to Rooms to Go Furniture Store in XXXX, GA to purchase a new diningroom set. I already carried a Rms To Go credit card with an available balance of about {$1000.00} or {$1000.00} since paying it down FROM {$1200.00} ( that I was originally approved for ). I was approved during a time when I made LESS money, and was based on ( I believe ) a 60mos no interest with payments at $ XXXX/per mos. Because I had been working on paying off this acct, I would pay a lot more ( for ex : sometimes {$80.00}, {$50.00}, {$40.00}, and even $ XXXX/mos ) in order to a ) be ready to make my next big purchase of the diningroom set I'd been wanting for some time at Rms To Go, and b ) paying down/off debt to improve my credit scores. I knew the diningroom set I wanted would've been about {$500.00} higher than my initial {$1200.00} credit limit. I was only about {$200.00} or less shy of " paying it off entirely '' ( the rms to go cred card ). I visited the XXXX Rms to Go on XX/XX/XXXX to see if I could receive a credit line increase ( adding about {$800.00} to my already established credit limit of {$1200.00} ) to make it a solid {$2000.00}, so that I could take advantage of the XXXX XXXX Sale which was similar to my original promotion of " no interest for 60mos with low payments per mos '', as these terms worked within my budget. Again, my " available credit '' at the time BEFORE I walked in was around {$1000.00} or {$1000.00}. Once I asked for a credit line increase, I was thinking I'd be approved or disapproved, while STILL maintaining my " available balance of {$1000.00} or {$1000.00} '', while continuing to pay down the remaining balance on a per month basis. Instead, I was not approved, AND they " lowered my credit limit '' down to {$250.00} " all in ONE SETTING ''. I was heartbroken and SHOCKED. Mainly at the fact that after they disapproved me for an increase, they PROCEEDED to " lower my credit limit '' that I worked SO HARD to pay down by putting MORE MONEY towards it, so that I could make my next big purchase. I could have put more money towards other things and paid the minimum w/Rms to Go, had I known they would do this to me after I worked so hard to pay it down ( anticipating my next needed purchase ). There was no warning, no info listed in my contract that stated these types of practices, and no way to appeal ( based on my latest phone call ). I can look into the credit issue because I have worked hard on my credit ( in general ), so paying things on time IS NOT THE ISSUE. As a consumer, I felt that when you're approved for a credit card limit, and you pay it off, the avail balance returns to the original amount. I had no warning whatsoever that they'd do this from my coming in on XX/XX/XXXX to request an increase. It's like saying, " No, you are not approved, AND we are also taking the money you've paid down and not allowing you to purchase anything else from us ''. That's what it feels like. The Synchrony Bank rep-XXXX ( their creditor used ) said on XX/XX/XXXX that they lowered my credit score to keep down identity theft, and that they do this for ALL their customers if the card is not used. I did not understand that logic nor reasoning, and told him I had never heard nor had any info in writing of them lowering my credit limit without my knowledge just that quick. I called again on today ( Sat, XX/XX/XXXX ) & spoke to XXXX displaying my dismay in a calm fashion ; requested an explanation as to why ; and asked why there was no appeals address on the letter they sent. *Note : If I had NEVER came into Rms To Go on XX/XX/XXXX, I'd STILL have my AVAILABLE BALANCE OF $ XXXXor {$1000.00}, and be in a position to purchase the diningroom set of my choice ( while just paying out of pocket the remaining balance ). I am now back to paying $ XXXX/mos for the last {$140.00} or less balance that is left. The way Rms To Go and/or their creditor Synchrony Bank did this ( *lowering my credit limit when I paid well over the amts a # of times to pay it off ) is highly disheartening to a consumer. Had I known this would happen prior to my original purchase, I could have made a sound choice to either a ) proceed with purchasing OR b ) going to another retail chain for better options. The way things were done was highly deceptive practices.

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