Consumer complaint received 2020-07-24
Company: SYNCHRONY FINANCIAL
State: MI
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
XXXX XXXX/SYNCHRONY BANK-Dispute issue that has negatively affected our longstanding excellent credit score by what was reported to the credit bureaus. 
Following are the details and timeline of a disputed charge on our XXXX XXXX credit card with Synchrony Bank that has dropped our credit score 50-60 points. We followed every step we were instructed to by Synchrony & repeatedly were charged late fees & placed in a Past Due status all the while being reassured by Synchrony that we would not & it wouldn't affect our credit scores. Our credit score has now been adversely affected right as we are applying for a new mortgage. 

On XX/XX/XXXX we disputed {$350.00} with Synchrony/XXXX  XXXX XXXX for an extended warranty purchased at XXXX XXXX XXXX on XX/XX/XXXX. The furniture was delivered XX/XX/XXXX and extended warranty was to begin oXXXX year later on XX/XX/XXXX. In XXXX of XXXX we were still making monthly payments ( & had always paid more than the minimum ) when we returned home to Michigan from Florida ( where there are no XXXX  XXXX stores ) and heard XXXX XXXX XXXX had gone out of business. We called XXXX XXXX and only received a recording with no way to contact them. So we called Synchrony to dispute the warranty charge and then received a letter from SYNCB/XXXX   XXXX XXXX. The letter stated that the disputed balance would not be included in the minimum payment due & no interest will be assessed on the disputed portion of the balance. We continued scheduling payments every month. We were told on the phone we would receive a resolution of the dispute within 60 days by US Mail. 

The first month XXXX XX/XX/XXXX ) of the dispute a payment of {$110.00} as was required on our statement was scheduled for XX/XX/XXXX. SYNCB only took {$40.00} & did not apply the rest, we assume because the balance on the undisputed amount was then paid in full. On XX/XX/XXXX we checked my account online and had been charged a late fee of {$29.00} because the minimum payment of {$110.00} hadn't been paid. XXXX called Synchrony and they stated I shouldn't have been charged a late fee and they would remove it, which they did and because it was before the statement date it did not show on the XX/XX/XXXX statement. The new balance showing was now {$350.00} which was exactly the disputed amount and the Total Minimum payment required on XX/XX/XXXX was again {$110.00}. 

The second month ( XXXX ) a payment was scheduled for XX/XX/XXXX & SYNCB did not take any payment & again charged another late fee for missed payment. On XX/XX/XXXX XXXX called SYNCB about a late fee on our XXXX statement & they said they again would remove it. Total New Balance was now {$380.00} and statement now says Amount Past Due of {$29.00}. Total Minimum Payment Due for XXXX is now {$140.00}. It had now been more than 60 days & Synchrony said that due to Covid 19 it was taking longer than 60 days for a resolution and we would receive notice by US Mail when it was completed. 

The third month ( XXXX ) a payment of {$140.00} was scheduled for XX/XX/XXXX. On XX/XX/XXXX we received an email from SYNCB stating we attempted to process a payment for your XXXX  XXXX XXXXSYNCHRONY BANK account ending in # # # #. On the date your payment was submitted for processing, your credit card balance was {$0.00}. As a result, your scheduled payment has been cancelled. 

The XX/XX/XXXX statement showed credits, fees & adjustments of - {$320.00}. The New Balance was now {$59.00}. A credit from XXXX XXXX of {$290.00} was posted after the XX/XX/XXXX statement but stated it was posted XX/XX/XXXX, now showing the remaining amount of {$59.00} as past due! How can the credited amount from XXXX XXXX be backdated? We had still received nothing from Synchrony by email or by US Mail explaining a resolution, so XXXX called SYNCB in the morning of XX/XX/XXXX. XXXX spoke with XXXX who told me the {$59.00} would be removed & the account would not reflect that for 24 to 48 hours. She didn't know why the credit from XXXX XXXX was different than the disputed amount. The difference is very close to 2 late fee amounts, but I was told there were no late fees on the account. XXXX asked am I disputing the new amount and I said yes as the original disputed amount was higher. 

Later that same day XX/XX/XXXX we received an email from SYNCB saying " A total minimum amount of {$60.00} is due for your XXXX  XXXX XXXX/SYNCHRONY BANK account ending in XXXX. Please contact us today to avoid the potential of late fees and further delinquency on your account. '' XXXX called SYNCB back & was told again everything was ok, there were no late fees, account is noted & everything will come off in 24 to 48 hours. 

On XX/XX/XXXX we received notice that our credit score had taken a hit. After investigating we found the hit came from SYNCB/XXXX XXXX XXXX stating that we had a missed payment. My credit score went from XXXX to XXXX on XXXX  & XXXX to XXXX on XXXX. XXXX called SYNCB that day. I'm not sure who the first person was but I was transferred to a supervisor named XXXX. I was told that I should not have been told that the {$59.00} would be taken off our account in 24 to 48 hours because that amount was in dispute & it would take up to two billing cycles to get resolved. She said she was sorry I had been misinformed. I told XXXX that this was unacceptable & I would like to speak with her supervisor, she said she could only send her supervisor a message & that that person would call me back. As of now XX/XX/XXXX I have not been called back & also have not received a letter pertaining to anything further regarding the original dispute nor the disputed balance remainder. XXXX also said I needed to speak with customer service about sending information to the credit reporting agencies to get this corrected. She said that in addition to disputing the {$59.00}, I also had to file a dispute about the information that had been reported to the credit bureaus by Synchrony. XXXX said she would transfer me to them but instead cut me off. You think she would have called me back, she did have my number but she did not. I then called back the same day XX/XX/XXXX at XXXX XXXX  & spoke with XXXX who gave me the customer service phone number in case I was cut off again & then transferred me to XXXX at customer service. I was told that once we get a resolution to the credit bureau reporting dispute ( which will take 1 to 2 billing cycles but at least by XX/XX/XXXX ) we will get a letter stating there was an error. 

To add insult to injury we received an email later that afternoon XX/XX/XXXX at XXXX XXXX  from XXXX   XXXX XXXXSYNCHRONY BANK account saying our records show you have not made full payment on your XXXX  XXXX XXXX/SYNCHRONY BANK account ending # # # # in over one month. Payment for your total minimum amount of XXXX is due on XX/XX/XXXX. 

Out of total frustration XXXX went on line XX/XX/XXXX at XXXX XXXX & made the full payment of {$59.00}. We received an email that Synchrony had received a request to schedule a payment along with a confirmation number. Again that afternoon almost 6 hours after we made the payment we received yet another email saying " Our records show you have not made full payment on your XXXX  XXXX XXXXSYNCHRONY BANK account ending in # # # # in over XXXX month. Payment of your total minimum amount of {$60.00} is due on XX/XX/XXXX. Are you unable to pay? Call us. 

We finally received an email at XXXX XXXX that day saying thank you for making your payment & your payment has posted on XXXX What is still incomprehensible to me is how can you schedule a payment with a company, they dont take the payment out & then say you missed a payment & charge you a late fee? Then destroy your credit after numerous calls to their company assuring you there are no late fees that should have been charged, and that your credit wouldn't be affected as long as the amount was in dispute.

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