Consumer complaint received 2019-06-16
Company: SYNCHRONY FINANCIAL
State: WA
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:
The following information pertains to my current JC Pennys credit card I have which is now managed by Synchrony Bank. 
Effective XX/XX/XXXX Synchrony bank begin charging separate interest rates on what they are stating eligible promotional charges that expire. The problem is that I have never purchased ( charged ) any items under a promotional purchases and all credit billing statements reflected the same findings Currently a new rate has shown on my statement which means they are charging 3 separate interest rates for what they state are promotional purchases expiring. 

I have called the only CSR billing contact number listed on the billing statement ( XXXX ) ) three different times to ask why I was being charged 2 separate interest rates ( both = a total of 54.98 % total interest charged monthly ). Not one of the 3 CSR reps was able to state the same reasoning why I was being charged these 2 different  interest rates. 
Effective XX/XX/XXXX they will begin to charge a third interest rate for what they are again calling " eligible promotional charges that expire This will make the total monthly interest charge 83.22 %. 

First call I made on dated XX/XX/XXXX referencing JC Penny billing stmt dtd XX/XX/XXXX ( attached ) : the CSR stated the extra interest rate was due to promotional purchases that had expired. When I informed him that I had not purchased any promotional items and all my previous billing statements reflects that fact that I had not purchased any promotional items, he just stated that well you not paying very much interest so why was I so worried. He would not allow me to speak with his supervisor stating there was not supervisor available on shift to speak with. 

I called back on same date XX/XX/XXXX : I spoke with a different CSR, but asked the same question as above. This CSR person stated that she did not see 2 different interest rates on her screen, she only seen one total interest rate fee charged. I stated yes, they have lumped both interest rate charges as 1 for billing purposes. I asked again please help me understand why I am being charged two separated interests rates on my billing statement for XX/XX/XXXX, as I had not made any purchases under a promotional offers and I see 2seperate interest rates charged with different dollar amounts listed under each interest rate. She again stated I do not see 2 separate interest rate charges, I only see 1 charge. I asked again to speak with her supervisor and was told a supervisor was not available to speak with that day. 

XX/XX/XXXX : I called JC Penny billing contact # again. I spoke with a CSR rep asking the same question as above. This CSR rep stated that they raised the interest rates and any new purchases made after the date of the interest rate date change were then applied to the new rate. I asked why they did not apply the new interest rate to the total amount owed as I am now paying two separate interest rates. She stated well that would not be fair to the consumer as the consumer would then be charged a higher rate of interest on purchases made after the rate change date.

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 monetary relief