Consumer complaint received 2025-11-27 00:00:00
Product: Credit card — Store credit card
Issue: Fees or interest — Charged too much interest
Company: SYNCHRONY FINANCIAL
State: MD

Complaint narrative:
My complaint concerns the retroactive application of deferred interest on a promotional financing purchase of a mattress from XXXX XXXX. 

The purchase was made on XX/XX/XXXX for {$2400.00} under a XXXX XXXX XXXX if XXXX in Full ' promotion. This promotion was accessed by applying for a XXXX XXXX credit card issued by Synchrony Bank. At XXXX XXXX of sale, I was only told the promotion allowed me to pay the total cost of the mattress over 24 months with 0 % interest. The existence of the retroactive deferred interest penalty clause was never mentioned. If I had been aware of this predatory practice, I could have easily paid the full {$2400.00} amount at the time of purchase. 

On or about the promotional deadline ( XX/XX/XXXX ), Synchrony Bank applied a severe retroactive deferred interest charge of {$1400.00} to my account because a balance of {$1000.00} remained unpaid. The imposition of a {$1400.00} charge, an amount greater than the remaining principal, was an extreme financial shock and fundamentally contradicted the 0 % interest offer. 

My key grievances regarding XXXX unfair and deceptive practices are : XXXX ) Systematic Minimum Payment Manipulation : I was a reliable customer, meeting all previous payments without fail and setting up autopay immediately upon getting the card. My bank account records confirm my initial minimum required payment was approximately {$88.00}. I did not regularly scrutinize the statements because I reasonably relied on the minimum payment amount set by XXXX, assuming it was sufficient to satisfy the XXXX promotional term. Without any prior notification or consent, Synchrony Bank gradually and unilaterally reduced the required minimum payment over several months all the way down to approximately {$39.00} by the promotional deadline. Crucially, I was never informed that this continuously decreasing payment was insufficient to cover the entire balance by the XXXX deadline. This systematic reduction of the minimum amount, combined with the lack of notification, created an impossible situation and directly caused the final unpaid balance. 

XXXX ) Internal Resolution Refused ( Good Faith Attempt ) : I only reviewed my account on XX/XX/XXXX, because I was looking to close the card, assuming the balance had been fully covered. I immediately discovered the massive penalty and contacted XXXX to ask for a goodwill waiver and offered to immediately pay the remaining principal balance of {$1000.00} in full. I escalated the matter to a XXXX on XX/XX/XXXX, who flat out refused to XXXX a one-time goodwill waiver. 

XXXX ) Lack of Transparency / Disproportionate Penalty : The true severity of the full retroactive interest penalty was not clearly and conspicuously conveyed in a manner commensurate with the punitive financial consequence. 

4 ) Access to Documents : I have been unable to obtain the full statement history online. I request the CFPB require Synchrony Bank to provide the full statement historyincluding the statements detailing the change in minimum payments and the final application of the interest chargeto confirm the facts of this complaint. 

I request that the CFPB mediate this issue and compel Synchrony Bank to XXXX a full reversal of the retroactive deferred interest charge of {$1400.00}, in exchange for my immediate payment of the remaining original principal balance of {$1000.00}.

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