Consumer complaint received 2017-04-27
Company: SYNCHRONY FINANCIAL
State: MN
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Charged fees or interest you didn't expect

Complaint:
NOTE : this is a replacement for COMPLAINT #  XXXX , which has been withdrawn.     In  XXXX    XXXX  , I had   XXXX   XXXX   at  XXXX   XXXX   XXXX  in    XXXX   XXXX   XXXX  , and paid for it out-of-pocket ( my employer group insurance plan did not cover the procedure ). To pay the hospital fee for the procedure -- {$11000.00}, I applied for a   XXXX  E CareCredit card  at the hospital ON THE DATE of my  XXXX ,  XXXX / XXXX /  XXXX  , and was told, by one of the individuals at the hospital, that I would be offered a 14.9 % APR on the card for a term of 5 years, during which I could repay the balance on the card. I then proceeded to have the  XXXX  and afterwards began making the minimum monthly payments on the card, using   CareCredit 's online website, selecting the minimum monthly payment option.
However, several months later, CareCredit added a charge to my   balance in the amount of {$4400.00}. I did n't notice the additional charge immediately, until I subsequently checked my balance online and noticed that it was considerably higher than the previous amount I recalled. At that time, I called a  CareCredit rep  on the phone and asked about the charge, and the rep told me that it was a deferred interest charge added for not paying my balance within a year.     The rep told me that, according to the terms of my contract, I had to have paid my balance interest-free within the interest-free period to have avoided the deferred interest surcharge. I then told the rep that this agreement was NEVER explained to me at the hospital, and that I was told instead that I was under a plan to repay the card under a   5-year 14.9 % APR.
The agreement for the 14.9 % 5-year APR w  as explained to me VERBALLY at the hospital prior to the  XXXX  on  XXXX / XXXX /  XXXX   AS WELL as via a phone conversation  w/the   XXXX   XXXX   XXXX  cashier PRIOR to the date of my  XXXX . Also, on  XXXX / XXXX /  XXXX  , I had attempted to obtain written confirmation of that agreement via an e-mail to  XXXX   XXXX , the hospital billing coordinator, but never got a reply.     I argue d w/the CareCredit rep on  the phone about the deferred interest arrangement, and also asked the rep to send me a copy of a contract that I 'd signed in which I agreed to the deferred interest offer.     And CareCredit was NEVER able to provide me w/any document CONTAINING MY SIGNATURE that explained the ( deferred interest ) terms the rep told me about.     However, since I lacked ANY WRITTEN proof that I 'd agreed to something else   ( i. e. the 5-year 14.9 % APR repayment option ), I felt I had no legal recourse, and merely continued making payments to the credit card. As of today, there 's still a balance on it for {$4600.00} -- the original CareCredit card is now under Synchrony Bank.
However, I recently discovered an article online ( attached   ), dated  XXXX , regarding punitive action that CFPB had taken again   st CareCredit for deceptive billing practices, where card holders were misled about the terms of their contract. And I 'd like to know if I 'd also be entitled to monetary relief under this action -- specifically, I 'm wondering if I could be refunded ( at least ) the difference between how much I would 've paid under the 5-year 14.9 % APR arrangement ( to which I verbally agreed ) and the deferred interest agreement to which I did NOT agree ( in     which I 'm currently paying under a 24.99 % APR ). I 've computed this amount to be {$5600.00} ( amount that I currently overpaid -- see the included Calculations spreadsheet ) + {$4400.00} ( the amount Synchrony Financial says I still owe ). In other words, I would like to be refunded {$5600.00} fr om Sy   nchrony and my CURRENT balance on the credit card wiped out.
With this complaint, I 'm including receipts, statements, emails, etc. to sub  stantiate everything I 've stated. Please let me know if there 's any else that 's needed. Thank you

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