Consumer complaint received 2018-10-01
Company: SYNCHRONY FINANCIAL
State: MD
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
I obtained a XXXX XXXX credit card managed by XXXX XXXX to purchase furniture for a new home. XXXX 's was offering a promotional 36 month Equal Payment No Interest program if you signed up for a XXXX credit card. I signed up for the program and purchased XXXX of furniture on XX/XX/XXXX. On XX/XX/XXXX I purchased an additional {$1800.00} of furniture however this promotion was 12 Months Deferred Interest. 
I began making the Total Minimum Payment due beginning on or about XX/XX/XXXX with the additional purchase of {$1800.00} added after XX/XX/XXXX. I paid the Total Minimum Payment which varied from $ XXXX/mo to $ XXXX/mo. 
This month I noticed that {$430.00} of interest had accrued in XX/XX/XXXX. I contacted Synchrony on or about XX/XX/XXXX to inquire about the interest charged. I was advised that my 12 Month Deferred Interest promotion had expired on XX/XX/XXXX. I accepted that at face value until I reviewed my contract documents and realized that I had in fact two promotional programs at the same time ; the 36 month Equal Payment No Interest program and the 12 Months Deferred Interest Program. 
I called XXXX XXXX Customer Service on XX/XX/XXXX and was advised that the interest charged was related to the expiration of the 12 Months Deferred Interest Program. My assumption was that the Total Minimum Payment I had been making was sufficient to payoff each of the balances in sufficient time to avoid any interest charges. In reality in the 12 months I reduced the {$1800.00} balance on the 12 Months Deferred Interest Program by only {$550.00} and I was being charged 29.99 % interest on a {$1200.00} balance. I asked for a Supervisor to discuss what I considered an unfair business practice and was advised that there was as statement on my bill prior to the expiration of the 12 Months Deferred Interest Program. There was a small notice located on the bill that contains significant extraneous information making it difficult for a consumer to separate the wheat fro the chaff. I was further advised that there was nothing they could do to reduce the interest fee. 
I have since paid the balance in full, {$3800.00} on XX/XX/XXXX since I'm concerned that additional unexpected charges would be applied. I am reaching out to the Consumer Finance Protection Bureau because I consider myself a savy consumer and feel duped by the way in which XXXX/Synchrony advertise these programs, manage and disclose on statements and resolve consumer concerns. It feels to me that Synchrony intentionally confuses consumers with the amount of information they include on their statements and the way in which they disclose how the programs operate. There was no way of knowing how much of my Total Minimum Payment was being applied to each program and therefore no way of knowing that I was at risk of having to pay a 29.99 % interest payment on an outstanding balance.

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