Consumer complaint received 2025-07-14 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: VA

Complaint narrative:
Subject : XXXX XXXX XXXX Synchrony Bank XXXX XXXX XXXX XXXX via XXXX Credit Card To Whom It XXXX Concern, I am writing to file a formal complaint against Synchrony Bank, the issuer and servicer of the XXXX XXXX XXXX, regarding deceptive and misleading credit practices tied to a promotional financing plan I agreed to when purchasing a deck from XXXX in XX/XX/XXXX. 

At the time of purchase, I was offered a XXXX interest-free promotion. The XXXX sales representative assured me that : XXXX would not pay any interest for the first XXXX  months. 
XXXX any balance remained after XXXX  months, interest would only be applied going forward on the remaining balance, not retroactively from the purchase date. 

Based on that verbal assurance, I made regular payments over XXXX years totaling approximately {$7000.00} believing I was managing the account responsibly. 

However, I was shocked to discover that after my XX/XX/XXXX statement, where the remaining balance was {$7200.00}, the XX/XX/XXXX statement showed a new balance of {$14000.00} more than double the prior amount. This sudden increase was due to Synchrony retroactively charging {$7600.00} in interest, dating back to the original XX/XX/XXXX purchase, at an APR of 26.99 %. 

This has left me feeling completely misled. How is it possible that after paying over {$7000.00}, my balance is higher than where I started? The original financed amount was just under {$14000.00}. I paid faithfully every month. Now, XXXX years later, I am back where I started or worse. 

Where did all my payments go? This appears to be a predatory and deceptive structure that was never clearly disclosed. At no point did anyone explain that if the balance wasnt paid in full, I would be charged interest from day XXXX as though no payments had ever been made. 

To make matters worse, this sudden balloon in my balance has pushed my account over its credit limit, which is negatively impacting my XXXX XXXX despite the fact that Ive never missed a payment. 

Last week, when I contacted Synchrony Bank to try to understand what had happened, I was given astonishing and further misleading advice : a representative told me I should XXXX XXXX to the XXXX store and confront the sales person. I find this response deeply unprofessional and borderline absurd. How can a financial institution direct a customer to resolve a billing dispute by tracking down a retail employee? This is not only unhelpful its shady and irresponsible advice from a federally regulated lender. 

Summary of Key Facts : Purchase Date : XX/XX/XXXX Promotional Period Ended : XX/XX/XXXX XX/XX/XXXX Balance : {$7200.00} XX/XX/XXXX Balance ( After Retroactive Interest ) : {$14000.00} Retroactive Interest Charged : {$7600.00} XXXX Applied Retroactively : 26.99 % Impact : Overlimit account status and negative effect on my XXXX XXXX This situation is unjust, and I believe Synchrony Banks conduct should be investigated for misleading, unfair, and potentially abusive lending practices. At minimum, I request that : The retroactively applied interest be removed in full ; My account be adjusted to reflect only the remaining principal ; And any damage done to my XXXX XXXX as a result of this overlimit status be reversed. 

Thank you for your attention to this matter. I am attaching my statements for XXXX and XX/XX/XXXX for your review. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX Account ending in XXXX ( XXXX XXXX XXXX XXXX

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