Consumer complaint received 2025-08-08 00:00:00
Product: Credit card — Store credit card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: SYNCHRONY FINANCIAL
State: TX

Complaint narrative:
I am a Texas consumer and hold two credit accounts issued by Synchrony Bank : 1. CareCredit ( medical financing ) 2. Living Spaces ( retail financing ) Both accounts involved deferred interest promotional offers that were represented as no interest or same as cash financing. The promotions did not clearly disclose that interest was accruing from the date of purchase at an APR exceeding 29 %, and that this interest would be retroactively applied if the balance was not paid in full by the promotion end date. 

Once the promotional period expired, both accounts were charged extremely high APRs in some cases exceeding 32 % far above the maximum rates permitted under Texas Finance Code Chapters 302 and 303 for consumer loans.

When I contacted Synchrony Bank to request hardship assistance due to financial difficulty, they refused to offer any meaningful repayment options, refused to reduce interest, and merely referred me to a third-party credit counseling phone number. 

This conduct is : Usurious under Texas Finance Code 302.001, 303.009, and 305.001, which generally cap consumer loan rates at 18 % and allow recovery of triple damages for overcharges ; Deceptive under the Texas Deceptive Trade Practices Act ( Tex. Bus. & Com. Code 17.46 ) ; Unfair and abusive under the Truth in Lending Act ( TILA ) and CFPBs UDAAP standards, given that the retroactive interest terms were inadequately disclosed ; and Part of a known pattern of misconduct for which Synchrony/CareCredit has previously been subject to enforcement actions by the CFPB and state Attorneys General.

I request the following relief : 1. Removal of all retroactive interest charges assessed on both accounts ; 2. Reduction of APRs to Texass legal maximum rate for consumer loans ; 3. Implementation of a reasonable hardship repayment plan ; and 4. Any further remedies available under state or federal law, including reimbursement of unlawful interest charges. 

Date Account Event Amount Promo Terms Interest Outcome Notes XX/XX/XXXX ( approx ) CareCredit Account opened for minor XXXX XXXX ~ {$6000.00} 0 % interest promotional period Deferred interest accrual from purchase date at 26.99 % APR Paperless statements ; Synchrony charges {$1.00} for paper [ Promo End est mid/late XXXX ] CareCredit Promo expired with ~50 % balance paid Retroactive interest applied ; new APR 32.99 % on new purchases Paid {$2400.00} in interest in XXXX and {$470.00} so far in XXXX XX/XX/XXXX Living Spaces Account opened {$1700.00} No interest until XX/XX/XXXX Deferred interest accrued from purchase date XX/XX/XXXX Living Spaces Promo expired Retroactive interest of {$1800.00} added Interest exceeded original purchase price XX/XX/XXXX Living Spaces Second promo purchase {$3300.00} No interest until XX/XX/XXXX Deferred interest accrued from purchase date XX/XX/XXXX Living Spaces Promo expired Retroactive interest of {$1900.00} added Again, interest close to/exceeding original purchase XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXX Both Accounts Hardship request call ( 39 min, 3 reps ) Synchrony refused to lower interest or modify terms Offered only : ( 1 ) close card & slightly reduce minimum, or ( 2 ) credit counseling phone number ; condolences on fathers death but no financial help Key Points This Timeline Proves APR Spikes : APR jumped as high as 32.99 % above Texas consumer loan caps ( 18 % ) potential usury violation. 
Deferred Interest Trap : Retroactive interest charges were in some cases greater than the original financed amount. 
Refusal of Hardship Assistance : Multiple attempts met with scripted denials, despite clear financial hardship and bereavement. 
Pattern Across Products : Both CareCredit and Living Spaces accounts operated under the same Synchrony-controlled terms and tactics.

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