Consumer complaint received 2026-06-08 00:00:00
Product: Credit card — Store credit card
Issue: Closing your account — Company closed your account
Company: SYNCHRONY FINANCIAL
State: TX

Complaint narrative:
On XX/XX/year>. I was informed that my Synchrony/Mattress Firm account was closed from a credit reporting agency. Around that same timeframe I called Synchrony Bank/Mattress Firm and thew rep stated that I wasn't paying it down quick enough even though I was still had until XXXX to pay off the balance. I sent the following email to numerous executives and the corporate secretary : To Whom It May Concern, I am submitting this formal complaint regarding the handling of my MATTRESS FIRM/SYNCHRONY XXXX account ending in XXXX. After reviewing the recent account closure notice and account statements sent by Synchrony Bank, I believe your company has engaged in deceptive, unfair, and potentially predatory business practices that have negatively impacted my financial standing. According to the adverse action notice dated XX/XX/year>, Synchrony stated that my account was closed based on factors including too many inquiries, ( These were due to being a victim of identity theft ) high balances in proportion to credit limits, and low rate of payments to amount due. ( In regard to that your customer service rep specifically told me over the phone that I wasnt paying the balance down quickly enough, That is very contradictory and deceptive since according to my contract that I initially signed and the statement, I have until XXXX to pay off the balance, until deferred interest kicks in ). However, Synchrony continued charging excessive interest and fees while maintaining an extremely low amount of available credit despite my ongoing payments toward the account balance. At the time of the statement, my account reflected : An initial credit limit of {$5000.00} A balance of approximately {$3800.00} A minimum payment that continued increasing while interest and fees were still being added This creates what appears to be a cycle designed to keep consumers financially trapped while simultaneously penalizing them for the very utilization ratios your lending structure creates. Additionally, closing an account while carrying a high balance can significantly damage a consumers credit utilization ratio and overall credit profile including score which it has. Synchronys actions appear contradictory and unfair because the company first extends high-interest revolving credit, allows balances to accumulate with substantial interest charges, then abruptly closes the account citing the financial strain caused by the account itself and you continue to expect me to pay for the closed account balance which will not reported to the credit bureaus in a positive manner. I also have concerns regarding : Potentially misleading lending and risk management practices Excessive interest and fee accumulation Credit limit structures that encourage near-max utilization Adverse actions that may unnecessarily damage consumers credit scores Failure to provide meaningful opportunities for repayment assistance before account closure These practices may violate principles of fairness under the Consumer Financial Protection Act and other applicable consumer protection laws governing unfair, deceptive, or abusive acts or practices ( UDAAP ). I am requesting the following : A detailed accounting of all interest charges, fees, and adjustments applied to the account. Written in the contract agreement that states my credit can be accessed without my authorization. Confirmation that Synchrony has accurately reported all information to the credit bureaus. An investigation into whether this account handling complied with all applicable federal consumer protection laws. If this is not addressed to my satisfaction, I will be submitting my complaint to the Office of Comptroller of the currency ( OCC ), the Federal Trade Commission ( FTC ), XXXX XXXX XXXX XXXX ( XXXX ), Consumer Financial Protection Bureau ( CFPB ) and the appropriate State Attorney Generals Office and the media.

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