Consumer complaint received 2020-07-29
Company: SYNCHRONY FINANCIAL
State: TX
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:
I received an Electronic Statement from Synchrony Bank for my XXXX XXXX account on XX/XX/2020 and opened the email the following morning, XX/XX/XXXX. I noticed the amount due was significantly higher than expected, so I logged into my online account and noticed I was charged an enormous amount of interest on purchases I was told would to be interest free. I was charged interest in the amount of {$1300.00} in XXXX and another {$72.00} in XXXX. I have paid the amount due on time each month according to the XXXX interest plan I believe I agreed to in the XXXX XXXX  store, where I recall specifically talking to a Synchrony Bank authorized employee onsite. This was shortly after XXXX XXXX first opened in XXXX, TX. 

I called Synchrony Bank XXXX for the first time at approximately XXXX on XX/XX/2020. I explained that I was unaware of and felt mislead by the terms applied to my account and asked for the interest to be reversed. I spoke to a manager named XXXX ( employee ID XXXX ) and she said there was nothing she could to do remove the interest because their policy states interest can not be reversed if the promotional period end date is over 30 days. The promotional period end date was evidently XX/XX/2020, just 3 days before I called. I explained that I am experiencing financial and economic hardships as a result of COVID-19 and I asked for grace, but I was again told " No '' and that there was  nothing they could do to help me. 

I tried Synchrony Bank 's online chat and chatted with XXXX XXXX, who also said there was nothing he could do because of the terms being outside of 30 days. He gave me a different number to call XXXX, where I talked to XXXX. 

During my second call to Synchrony Bank, when talking to XXXX, I explained that I am experiencing financial and economic hardships as a result of COVID-19 and asked for the interest to be reversed and interest free timeframe to be extended but she also said because the promotional period was over 30 days and I was calling 33 days after, that there was nothing she could do. She did not offer any compromise or payment plan option and yet kept saying they were there to help and if I had called earlier they could have extended the interest free payment terms through their COVID relief efforts. 

I called a 3rd time and spoke to XXXX at approximately XXXX on XX/XX/2020 and asked if there was anything he can do to help me. I offered to pay my bill in full and asked if he could wave the interest, but again I was told there was nothing that could be done ... leaving me with an interest charge of {$1400.00} on a {$2800.00} purchase! This makes no sense. 

To date, I have not received any notification outside of my electronic statement about a delayed promotional interest rate being charged to my account. If I am able to provide you with copies of my statements, you will see there are two different types of promotional programs listed. I was not aware of this until combing through the statements today and I am not entirely sure I understand the difference, but I do know when I agreed to these payment terms it was because there was to be XXXX interest. I pay my bills on time and I have excellent credit. I do not have many credit cards and typically do not finance things like furniture purchase. I feel mislead by XXXX XXXX   and Synchrony Bank. I am appalled by the fact that Synchrony Bank is not willing to work with me on this and unwilling to provide a credit of the interest given the circumstances and my payment history. I very much do not want to destroy my credit history because of a misunderstanding that I feel ( especially during this time ) there should be a better way to resolve. I am willing to pay my bill in full right now as long as the interest charges are removed and any credit damage is restored. 

Any help you can provide would be greatly appreciated.

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