Consumer complaint received 2019-12-01
Company: SYNCHRONY FINANCIAL
State: GA
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Struggling to pay your bill
Sub-issue: Credit card company won't work with you while you're going through financial hardship

Complaint:
The below bank is a monoply tying all retail stores & credit cards to their bank. I have 7 accounts ... Synchrony bought/merged my existing retailer credit to this bank!!! They won't bargain to lower interest rates when prime changes telling consumer the small print states they do not & consumer is stuck. I lost my job and will consider bankruptcy! There goes my credit. I am XXXX years old & resent this bank can XXXX consumers with blessings of company. 
XXXX XXXX XXXX XXXX GA XXXX Synchrony Fact Sheet Synchrony ( XXXX : SYF ) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than {$140.00} XXXX in sales financed and XXXX XXXX active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchrony.com and through XXXX : @ Synchrony. 

Stronger Connections. Broader Engagement. 
Weve built relationships with national and regional retailers, healthcare providers, manufacturers and more. We serve hundreds of thousands of partner locations across the U.S. and XXXX, and each one is important to us. 

Our financial expertise spans key product areas, including apparel, electronics and appliances, home furnishings, automotive, power products and sports, jewelry and luxury, other retail, elective healthcare procedures and services, and more. 

Our investments in technology across multiple platformsin-store, online and mobileallow us to engage consumers when and where they want. Our programs and tools strengthen the relationship between our business partners and their customers, driving growth and opportunity across the board. 

SYNCHRONY is a leader in consumer financial services with more than 85 years of retail heritage. Our consumer finance business is the largest issuer of private label credit cards in the U.S. and encompasses three sales platforms : Retail Card, CareCredit and Payment Solutions. Synchrony Bank also offers a range of FDIC-insured savings products directly and online. Youll find more detailed descriptions below. 

Retail Card We provide private label credit cards, Dual CardsTM and business credit products for businesses of all sizesfrom national retailers to XXXX XXXX XXXX. Our tailored credit card and loyalty programs engage customers when and where they shopin-store, online or via mobileand add value with targeted offers and features. 

National and regional retailers with which we have ongoing program agreements. 
Our patented Dual Cards are credit cards that function as a private label credit card when used to purchase goods and services from our partners, and as a general purpose credit card when used elsewhere. 
We currently issue Dual Cards for use on the Visa and Mastercard networks and we currently have the ability to issue Dual Cards for use on the XXXX XXXX and XXXX XXXX CareCredit CareCredit is a leading provider of promotional financing for consumers who can use the health, wellness and personal care credit card at health-focused retailers and for procedures at healthcare practices, including XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, primary care, day and XXXX XXXX XXXX, medical specialists and ancillary services. 

Accepted at more than 210,000 provider and healthfocused retailer locations nationwide. 
We have relationships with more than 110 professional and other associationsincluding the XXXX XXXX XXXX and the XXXX XXXX XXXX XXXX. We also work with various state XXXX and XXXX  associations, manufacturers and buying groups. They endorse and promote ( in some cases for compensation ) our credit products to their members. 
Payment Solutions We offer promotional financing for major consumer purchases. Our private label credit card and financing programs are offered through participating partners : retailers, dealers, manufacturers, buying groups and industry associations across many markets. 

We work with partners in Automotive, Electronics and Appliances, Furnishings and Flooring, Home Specialty, Jewelry, and Power Equipment and Sports Synchrony Bank Credit is extended by Synchrony Bank Synchrony Bank offers the savings products that feature award-winning rates and the safety of FDIC insurance*CDs, IRAs, Money Market Accounts and Savings Accounts. In addition, our customers are rewarded for balances they keep or the length of time they have been a customer. 

*FDIC insurance up to {$250000.00} per depositor, per insured bank for each ownership category. 
By The Numbers 85+ years of history $ XXXX in deposits $ XXXX in financed sales 2019 Synchrony All Rights Reserved Privacy Terms XXXX  XXXX XXXX XXXX XXXX

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