Consumer complaint received 2015-09-05
Company: SYNCHRONY FINANCIAL
State: CA
Product: Credit card
Issue: Advertising and marketing

Complaint:
I am writing to formally file a complaint regarding my CareCredit account, as outlined in the NY Attorney General 's " Assurance No. : XXXX ASSURANCE OF DISCONTINUANCE UNDER NEW YORK EXECUTIVE LAW SECTION 63, SUBDIVISION 15 '' ( attached ), and request that all interest be removed from my account. In exchange for such a show of good faith I can immediately pay off all remaining principal. Regardless, I will be following up with the XXXX, the CFPB, and engaging counsel to exhaust every possible avenue of recourse. 
The following specific language in the assurance applies:1. I was informed that I would pay the {$4600.00} balance interest free ( paragraph XXXX ). 
2. There was no discussion of a non-zero interest rate or what to do to avoid the payment of interest ( paragraph XXXX ) 3. In reality, I was signed up to dutifully make minimum payments that triggered a 26.99 % interest obligation after month 18 XXXX paragraph XXXX ). 
4. I was therefore not adequately informed that I would owe interest if my balance was not paid in full upon expiration of the promotional period, the rate of interest, or that the applicable interest accrues on the outstanding balance during the promotional period from the purchase date. ( paragraph XXXX ). This " misrepresented CareCredit 's terms and conditions in connection with the opening of an account in the Provider 's office and a charge placed on the account at that office. '' ( XXXX ) I therefore request that " a signed application and signed and countersigned Exhibit XXXX ... XXXX and XXXX sales receipt '' from the transaction be obtained5. Separately, after gathering these facts I was told repeatedly on the phone ( call placed XXXX XXXX XXXX XXXX/XXXX/2015, speaking with EID : XXXX, XXXX and XXXX : XXXX, XXXX XXXX that I could not make this complaint over the phone. This appears to be in direct conflict with the XXXX statement that " CareCredit will accept complaints from consumers by telephone or in writing, at the consumer 's option. " Further detail : In XXXX a CareCredit account for {$4600.00} was opened to pay off my LASIK surgery done at XXXX XXXX XXXX XXXXXXXX XXXX XXXX : XXXX XXXX ). The office manager put together the CareCredit paperwork and verbally explained to me that I could either a ) " pay the full amount now '' or b ) " pay the amount interest free ''. I elected b ), quickly enrolled in automatic payments, and watched balances be deducted monthly from my account, initially noting that the statement balance was decremented by my payments consistent with the explanation given to me. I lost my wallet on XXXX/XXXX/2015, and in the course of replacing my credit cards and reconfiguring my autopay obligations checked on my CareCredit account. I was shocked that my balance was so high and placed a call to CareCredit customer service on XXXX/XXXX/15, where I spoke with XXXX XXXX XXXX XXXX XXXX. I explained that I had been " misled '' about the terms of the credit card which were " misrepresented '' when the account was opened. A manager reduced my interest payments by {$850.00}, leaving a statement balance of {$3000.00}. He estimated I had paid {$3200.00} to date, resulting in a total estimated interest obligation of {$1600.00} over the lifetime of the account!

Company response to consumer: Closed with monetary relief