Consumer complaint received 2016-05-19
Company: SYNCHRONY FINANCIAL
State: KY
Product: Credit card
Issue: Transaction issue

Complaint:
Have made contact with creditor only to become more frustrated with their services. I have been with this credit finance company through various establishments for over ten years and this is the only account I have had this grievous error to continue to get out of site for resolution. Requested copies of transactions only to be told that 72 hours was not feasible and the earliest would be 10-14 days. Once billing statements were received I prompted to seek answers. Only to become more frustrated with lack of information in charges accumulating. Then prepared a spreadsheet to hopefully give some indication of the calculations The only conclusion noted to consider similar to the new transactions was that I am being charged interest on the deferred amounts as new purchases and then another interest on that amount plus the the amount of account security fees. Upon further observation I found that the original promotions balance was calculated three different times Each totals of balance used were inconsistent with the original balance of deferred plan. Again no obvious means of the calculations with the intended interest rate should the amounts not be paid in full by expiration date for the deferred interest payment plan. Upon my contact it was requested to audit the account. Received a short impersonal generic letter which stated they had seen no new transactions for charges in a four month time frame. When actually all transactions I refer to have been on deferred payment agreement. It is understood when a standard purchase is made that the current rate of interest 26.99 percent ( which has been raised ). The transactions are posted new purchases as to items before XXXX/XXXX/XXXX then before XXXX/XXXX/XXXX and recently newly purchased items after XXXX/XXXX/XXXX charge starting again. i want to know how they come up with new transactions to calculate interest charges and account security fees when the process requested and noted is for deferred payment. i have always paid more than the recommended amount on the payments. so as to resolve the true payable and have an available amount for emergencies. but this creditor has charged for new transactions each month and interest and account security fees with no end in sight. I have made only deferred payment request not new transactions. There is even a note of debt cancellation noted in their billing statements. I have not been delinquent so where is the proof of this inaccuracy. I requested information for the transactions and only receive the billing statements. Not acceptable for how calculations were computed. Deferred payments for payment processing are not deemed new in the whole of new transactions. debt cancellation needs thorough investigation as to when, where, who, and how. Debt cancellation needs to be retracted from credit bureau reports. There is no new transactions in reference to deferred payments which eliminates interest charge and account security fees on those amounts. Therefore my account needs to be refunded for the erroneous gregarious processing. I have configured almost every imaginable scenario of the calculations that are being considered as new transactions and can not find a means to their accounting process. This particular account is used only for necessary financing because of the agreed upon deferred payment plan. I made contact with no solution rendered since unable to speak with financial manager or the person who works the account. I would like to see that my account is refunded all miscalculations on new transactions, interest charges and the account security fees associated with the new transactions which are not new but deferred. The account is XXXX XXXX XXXX XXXX with the creditor of Care Credit aka Synchrony. My name is XXXX XXXX. The billing address is SYNCHRONY BANK, XXXX XXXX XXXX, XXXX, FL 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 monetary relief