Consumer complaint received 2026-04-03 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Unexpected increase in interest rate
Company: SYNCHRONY FINANCIAL
State: NV

Complaint narrative:
XX/XX/XXXX To : Consumer Financial Protection Bureau ( CFPB ) Re : Deceptive Practices To Whom It May Concern, I hope this message finds you well. I am writing to express my concerns regarding my CareCredit account with Synchrony Bank, particularly related to the transparency of deferred interest practices and account management. Since opening my account in XXXX, I have consistently made my payments in full, reflecting my commitment to responsible financial management. However, I encountered a significant issue when I did not receive paper statements from XXXX to XXXX, which led me to mistakenly believe that my balances of {$310.00} and {$930.00} ( totaling {$1200.00} ) had been cleared. On XX/XX/XXXX, I was surprised to receive an email indicating an outstanding balance of {$4900.00}. When I contacted XXXX XXXX, I was informed that my promotional period had expired, resulting in retroactive interest accumulating on my unpaid balances. The lack of statements during this critical period contributed to my confusion, and I would like to clarify that I did not opt for paperless billing, as I rely on physical statements to effectively manage my finances. During my communications with customer service, I spoke with several representatives, including an XXXX XXXX named XXXX. Unfortunately, my concerns were not addressed with the level of empathy and urgency that I had anticipated. On XX/XX/XXXX, I received a response from XXXX XXXX XXXX, XXXX XXXX at Synchrony Bank. He provided copies of statements from XXXX and XXXX of last year, asserting that they had been sent prior to the expiration of my promotional period. I find this practice concerning, as it can leave consumers feeling misled. It raises questions about whether the lack of mailed statements was a deliberate strategy designed to lead to unexpected fees, particularly for customers like me, who have demonstrated responsible credit management. Furthermore, I have reserached ongoing regulatory actions addressing deceptive practices related to CareCredit, especially concerning insufficient disclosures about deferred interest promotions. CareCredit is known for its deferred interest promotions ( e.g., no interest if paid in full within XXXX months ). However, a frequent complaint is that if the balance isnt cleared by the end of the promotional periodeven by a single daythe full interest ( often XXXX % or higher ) gets applied retroactively to the entire original amount, leading to large, unexpected bills. This has been a major source of consumer frustration for years, including a significant enforcement action by the Consumer Financial Protection Bureau ( CFPB ) in XXXX, which resulted in refunds of millions due to deceptive practices around disclosures. Common issues reported by other consumers include difficulty reaching helpful customer service, account restrictions or closures after incidents such as returned payments, feelings of being misled about how the financing works, and aggressive collections if payments lapse. There have been significant regulatory actions and consumer resolutions related to deceptive practices with CareCredit ( issued by Synchrony Bank, formerly GE Capital Retail Bank ), particularly concerning misleading disclosures about deferred interest promotions. The CFPB 's XXXX investigation uncovered that CareCredit engaged in deceptive enrollment tactics and provided inadequate disclosures, often miscommunicating that the card was truly interest-free. They found that consumers were not clearly informed that deferred interest ( at rates like XXXX % ) would apply retroactively to the entire original balance if not paid off by the end of the promotional period. As a result, the CFPB ordered CareCredit ( then under XXXX ) to refund up to {$34.00} XXXX to potentially more than XXXX XXXX affected consumers who were hit with unexpected interest charges due to these misleading practices. The order also required better disclosures, pre-expiration warnings for consumers, training for healthcare providers marketing the card, and other reforms to prevent future confusion. More recently, advocacy groups and reports ( e.g., from the XXXX XXXX XXXX XXXX and XXXX XXXX ) have continued to call out deferred interest as a hidden time XXXX, urging the CFPB to ban or restrict it. There are active or recent class action lawsuits against Synchrony/CareCredit alleging unfair and deceptive practices, excessive rates, and misleading terms, such as violations of state consumer laws and the Truth in Lending Act for inadequate disclosures on deferred interest. In XXXX coverage, the CFPB has held hearings and issued reports on predatory medical credit card practices. This enforcement action directly addressed deceptive practices that left people unaware of how deferred interest worked, leading to surprise billsmuch like my experience, where stopped mailed statements contributed to missing key information and the promotional deadline. Thank you for your attention to this matter. I look forward to your prompt assistance and response. I finally paid my original balance in full but Care Credit is extremely greedy. They want me to pay the huge interest that I am not even aware about. I will continue stand up for my rights as an American!

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