Consumer complaint received 2025-08-26 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: SYNCHRONY FINANCIAL
State: TX

Complaint narrative:
To Whom It May Concern, I am filing a formal complaint against Synchrony Bank regarding my CareCredit account. I do not agree with the recent charges that have been added to my account, specifically a deferred interest charge of $ XXXX believe I have been subjected to unfair and deceptive practices involving deferred interest charges, lack of adequate disclosures, and failure to provide timely assistance options. 
Here are the facts of my case : Deferred Interest Misrepresentation I was aware of the promotional period, but my understanding, based on the information provided when I opened the account in XXXX, was that interest would only begin accruing after the promotional period ended. It was not clearly explained to me that this was deferredinterest accruingin the background during the XXXX promotional period and then posted in full retroactively.I was shocked to find a lump sum of {$6100.00} in deferred interest added to my account immediately after the promotional period ended. This charge significantly exceeded what I expected and pushed my account over the credit limit through no fault of my own. This resulted in thousands of dollars of unexpected charges that I was not financially prepared for. If deferred interest was accruing in the background at XXXX  % APR during the promotional period, this was not made clear in a transparent manner. Lack of Adequate Support When I Asked for Help About XXXX to XXXX months ago, I called Synchrony Bank to explain that I was struggling to make my minimum payment and asked if there were any options, even requesting a late fee waiver in case I missed a payment. At no point did the representative mention the hardship program or the XXXX XXXX option. Only after speaking with a customer representativenamed XXXX on XX/XX/XXXX, and then escalated to a XXXX named XXXX on XX/XX/XXXX, recently did I learn that a hardship program existed, but by then, I had already canceled XXXX XXXX  because I was told I had to do so by XXXX, XXXX who I spoke to on XXXX XXXX, and another XXXX whose name I did not get on XX/XX/XXXX, to qualify for the hardship plan. I canceled XXXX XXXX under the impression that it was required for the hardship program, without being informed that canceling it meant I would lose the ability to file a claim for prior hardship events. If Synchrony had offered me assistance earlier, either through XXXX XXXX or the hardship plan, I would not be in this position today. XXXX XXXX XXXX XXXX : The current interest rate of XXXX  % APR is excessive and potentially predatory, particularly on a medical credit card marketed as a healthcare financing solution. The sudden addition of {$6100.00} in deferred interest pushed me over my {$10000.00} limit and triggered a total of {$13000.00} in debt, even though I never actually made purchases that exceeded my credit limit. I believe these charges are unreasonable and should not have been applied without clearer disclosures and proactive assistance. Industry-Wide Concern and Potential Illegality There is an ongoing federal investigation and litigation concerning the deceptive nature of deferred interest and high APRs on medical credit cards like CareCredit. These practices are under scrutiny for being unfair and harmful to consumers.

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