Consumer complaint received 2026-05-24 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: SYNCHRONY FINANCIAL
State: MA

Complaint narrative:
On or about XX/XX/XXXX, I purchased mattresses from Mattress Firm, through the XXXX XXXX location, Store No. XXXX. The salesperson identified in communications was : XXXX XXXX Senior Sleep Expert Mattress Firm XXXX XXXX, Store XXXX Phone : XXXX I financed a portion of the purchase through Synchrony under what was represented to me as a 24-month, XXXX-interest promotional financing arrangement if paid within the promotional period. I was specifically told by the Mattress Firm salesperson that I would be notified before the promotional period expired so that I could pay the remaining balance without penalty or interest. I relied on that representation in deciding to use the financing. I did not receive a clear, separate, meaningful notice alerting me that the promotional period was expiring and that thousands of dollars in retroactive interest would be imposed if the remaining balance was not paid by the deadline. I am now informed that a notice XXXX have appeared somewhere on a statement, but that was not the notice I was promised and was not reasonably sufficient under the circumstances given the magnitude of the penalty. As of the promotional expiration period in or about XX/XX/XXXX, the balance was approximately {$3900.00} which I paid today. That balance is not paid in full. On or about XX/XX/XXXX, Synchrony assessed my account {$5300.00} in back interest which I also became aware of today. I was totally unaware of the assessment until today. The retroactive interest charge exceeds the remaining principal balance and is grossly disproportionate to the amount due. I contend that the handling of this transaction, including the sales representation, failure to provide the promised expiration notice, failure to ensure that I understood the deferred-interest consequence, and subsequent imposition of {$5300.00} in retroactive interest, constitutes unfair and deceptive conduct. In looking back at all of the notices regarding autopay, there is a small notation on one of the invoices that my promotional rate may be expiring soon. The unfair and deceptive acts include, but are not limited to : Representing that I would be contacted by and bank and receive notice before the promotional period expired, when no clear or meaningful notice was provided to me as promised. Inducing me to enter the financing arrangement based on that representation. Failing to adequately disclose, explain, or remind me that failure to pay the remaining balance by the promotional deadline would result in retroactive interest of more than {$5000.00}. Assessing {$5300.00} in back interest when the remaining balance was only approximately {$3900.00} and was paid in full. Engaging in a deferred-interest practice that was likely to mislead a reasonable consumer under the circumstances. I also contend that Mattress Firm is responsible for the misrepresentations made by its salesperson in connection with the sale and financing, and that Synchrony is responsible for the administration, disclosure, notice, and assessment of the promotional financing charge.

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