Consumer complaint received 2017-08-07
Company: SYNCHRONY FINANCIAL
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In XX/XX/XXXX, I received a credit card from Care Credit. Care Credit was then a subsidiary of XXXX XXXX. I was a victim of deceptive credit card enrollment tactics. I was signed up at a veterinary 's office on the representation that the card was interest free.
In XX/XX/XXXX the Consumer Financial Protection Bureau ordered GE Capital Retail Bank and its subsidiary, CareCredit, to refund up to {$34.00} million to potentially more than 1 million consumers who were victims of this deceptive credit card enrollment tactic. The cards actually accrued interest that kicked in if the full balance was not paid at the end of a promotional period. Under this no interest if paid in full plan, consumers make monthly payments while CareCredit assesses 26.99 percent annual interest on a consumers balance throughout a promotional period, which can range from six to 24 months. If any portion of the balance has not been paid when the promotional period ends, the consumer becomes liable for all of the accrued interest.
After CFPB settlement with Care Credit I was sent a notice that I was entitled to a refund. It was printed on a form letter that appeared as an ad which I overlooked and never applied for the refund to which I was entitled.
XXXX XXXX sold Care Credit to Synchrony Bank. After Synchrony Bank acquired Care Credit they sued me for the balance which was mostly the 26.99 % balance on deferred interest. The suit was brought through XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, CA XXXX and recorded in Superior Court, XXXX County, XXXX, CA.
Without a lawyer I contested the suit. I asked for the following : 1. A credit agreement or any other document showing I had any obligation to pay Synchrony Bank and or Care Credit any sum of money.
2. Admission or denial that my credit card was included in CFPBs list of victims of deceptive credit card enrollment tactics.
3. Admit that the balance claimed as owed consists mostly of non-principal items including interest, credit fees, adjustments, and late fees.
purchases.
4. Admit that I offered to settle the amount owed on a letter dated XX/XX/XXXX which was sent again on XX/XX/XXXX. No reply was ever received despite many telephone calls which were left on the voice mail system.
Instead of responding the law suit was thereafter dismissed by Synchrony Bank. At this time there was no reference to my having any charge off on any credit report.
On XX/XX/XXXXmy automobile needed approximately {$1000.00} in repairs. A representative of XXXX XXXX, XXXX, Oregon advised it could be financed over a year at no interest. I asked my son to call and then advise me what to do. He was also told of the no interest plan and advised me to go ahead. When I went to pick up the car I was told my credit was only approved for {$400.00} and I would have to pay {$600.00}. I had not been told that the credit might be approved for a smaller amount. This was an expense I had not budgeted but I had no choice.
I have received a statement from Synchrony Car Care for a monthly installment of {$25.00} on the {$400.00} balance. Synchrony Car Care is a part of the same organization as Care Credit and Synchrony Bank. I believe the lower credit approval was because I ended up dealing with a Synchrony affiliate.
The statement shows that Synchrony Car has the same old deferred interest program that was employed by Care Credit. Not only am I very troubled by again be tricked into another deferred interest scheme but in addition they have submitted a charge off notice by Care Credit of my contested credit card to appear on my credit reports showing a XXXX point reduction in my credit score.
My wife and I are XXXX and XXXX years old and negotiating to move to a retirement home. This unwarranted notice to our credit score will make it very hard for our credit score to be high enough to do that.

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