Consumer complaint received 2018-01-09
Company: SYNCHRONY FINANCIAL
State: NJ
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Didn't receive advertised or promotional terms

Complaint:
XX/XX/XXXX, my wife and I went to XXXX XXXX XXXX XXXX in XXXX, NJ ( " XXXX XXXX '' ). On that date, we were coaxed into opening a XXXX XXXX  credit line through the XXXX XXXX on the promise that they were offering 0 % APR promotional financing up to five years. Based on the furniture we selected that date, we were told we would have 24 months to pay off the furniture. This later proved to be false. 

Thus, on that date, I had XXXX XXXX run a credit application on my behalf. The application was instantly denied by XXXX XXXX, who determined that my credit was not good enough for the requested loan amount. Without my consent, XXXX XXXX proceeded to run two separate credit applications for lesser amounts under my name, both of which were approved by XXXX XXXX. 

I asked if XXXX XXXX was certain that I would still get the longer 0 % APR to repay the loan, and they assured that I would get 2 years to pay off the loan, as XXXX XXXX would see that both credit cards were opened and charged on the same day. As mentioned earlier, this later was proved to be false. 

On XX/XX/XXXX, just six days into the purchase, my wife and I returned to XXXX XXXX after we unsuccessfully tried to cancel our purchase over the phone and via email after getting buyer 's remorse. The store did not allow us to return the yet to be delivered merchandise. The reason being was that we had selected a floor model item, even though buyer was not previously informed on its final sale nature. 

Nevertheless, on that date, the store ultimately allowed us to cancel the original transaction after we agreed to buy other furniture. This new transaction totaled roughly {$3400.00} and is the full disputed amount of this complaint. We were also told by XXXX XXXX that we would have 5 years to repay this loan, given the significant amount we 're buying on credit for this second transaction. We had no reason to doubt these promises, as their competitors XXXX XXXX XXXX XXXX and XXXX XXXX  were running similar promotional APR offers at the time. 

On XX/XX/XXXX, days into having entered this second transaction, we called XXXX XXXX to cancel the bed set, after it was discovered that it would not fit into our new home. Previously we were told that such cancellations upon taking measurements would be permissible within 30 days. XXXX XXXX 's online Return Policy also provides that customers may cancel at anytime within 30 days, with no fees. However, on XX/XX/XXXX, XXXX XXXX replied that we have exceeded the 48-hour window for cancellations printed on the back of the invoice. It appears, XXXX XXXX  has agreed with XXXX XXXX in holding us to their 48-hour return policy. 

XXXX XXXX sent us our first billing statement in either mid XX/XX/XXXX or XX/XX/XXXX for the two separate accounts opened by XXXX XXXX. The statements for each account only provided us with 0 % APR for 12 months. We contacted XXXX XXXX  and explained all of the above, including the fact that we were promised 5 years to repay the loan, which proved to be false. We also informed XXXX XXXX that XXXX XXXX applied for two accounts for lesser amounts without my consent. Despite this, XXXX XXXX decided the dispute in merchant 's favor on XX/XX/XXXX and most recently on XX/XX/XXXX. 

Furthermore, had we been presented with the option, I would have gladly reapplied for a joint account with my wife, who has better credit than me and who was also present on both occasions, so that we would be approved for the original loan amount that promised 0 % APR for 5 years. And if we were denied, then we would have not gone through with the large purchase, as it is not within our means. 

In XXXX XXXX 's last letter of XX/XX/XXXX, they indicate that XXXX XXXX has agreed to a refund, but has attached a 25 % restocking fee. We are disputing this fee as arbitrary and inconsistent with their online Return Policy.

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