Consumer complaint received 2026-01-30 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: SYNCHRONY FINANCIAL
State: IN

Complaint narrative:
Complaint Against Synchrony Bank Deferred Interest, Unclear Disclosure, and Failure to Provide Signed Agreement Company : Synchrony Bank Product Type : Credit card / Retail installment financing Description of the Issue In XXXX, I opened a Synchrony Bank credit card at the point of sale to finance the purchase of a mattress in the amount of approximately {$5800.00}. At the time of signing, the sales representative informed me that the financing was 0 % interest as long as I made my payments on time. I relied on this representation when entering into the agreement.

I was not made aware that this was a deferred-interest promotion, nor was I informed that the promotional period was specifically limited to 24 months. I did not understand that failure to pay the full balance by that exact deadline would result in retroactive interest being added to the account. 
I made my payments in good faith and on time. As of XX/XX/XXXX, my remaining balance was approximately {$2400.00}. After the promotional period ended, Synchrony Bank applied retroactive interest at an APR of approximately 39.9 %, causing my balance to increase to nearly {$6000.00}. This increase was unexpected and created significant financial hardship.

Lack of Clear Disclosure The deferred-interest nature of this financing and the exact 24-month payoff requirement were not clearly explained to me at the point of sale. The explanation I received led me to believe that maintaining on-time payments was sufficient to avoid interest. Had I understood that interest was accruing in the background and would be added retroactively if the balance was not paid in full by a specific date, I would have acted differently.

Attempts to Resolve the Issue I contacted Synchrony Bank directly and attempted to resolve this matter through their hardship department, requesting a goodwill or promotional interest adjustment due to the lack of clear disclosure and my good-faith payment history. The hardship department declined to offer any resolution.

Failure to Provide Signed Credit Agreement I formally requested that Synchrony Bank provide me with a copy of the signed credit agreement or contract for this account. I was informed that I would receive this documentation within 10 days.

After more than 20 days, Synchrony Bank did not provide a signed agreement or any document showing my acknowledgment of the account terms. Instead, I received only a generic privacy policy, which does not include : My signature or proof of assent Disclosure of deferred interest Disclosure of a 24-month promotional deadline Disclosure of retroactive interest or the applicable APR To date, Synchrony Bank has failed to provide documentation showing that I knowingly agreed to deferred interest financing, retroactive interest charges, or a 39.9 % APR. This raises serious concerns regarding adequate disclosure, informed consent, and record retention.

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