Consumer complaint received 2024-10-05 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: SYNCHRONY FINANCIAL
State: TN

Complaint narrative:
Around XXXX, XXXX, I purchased furniture from my local XXXX XXXX XXXX store using a loan service provider of their selection, Synchrony Bank. My monthly payments toward this loan began in XXXX, XXXX. My XXXX XXXX bank account shows I have made my online payment every month since before the due date of the XXXX, listed on the Synchrony bank statement, in an amount of more than the minimum payment due. In XXXX, XXXX, I sent online payment from my XXXX XXXX bank account on XX/XX/XXXX. My Synchrony account shows this payment posted with them on XX/XX/XXXX. Then, on XX/XX/XXXX, they charged me a late fee of {$30.00}. When I received my XXXX statement, I noticed this erroneous charge. I called them to dispute this erroneous late fee and the customer service rep said he would remove it because he could see they received my payment on XX/XX/XXXX. I then paid my XXXX payment which they posted on XX/XX/XXXX. My Synchrony account shows they refunded me the late charge on XX/XX/XXXX. Then Synchrony turned right around again and charge me a late fee of {$41.00} again on XX/XX/XXXX. And did the exact same again in XXXX. They received my XXXX payment on XX/XX/XXXX, then charged me a late fee of {$41.00} on XX/XX/XXXX. I have called them to dispute these erroneous fees, which they can clearly see I have made my payments. I was told today, there was nothing they could do because I was being charged these late fees and my account was showing past due because I made my payments too early. They said their system has my billing cycle ending on the XXXX of the month, and because I paid my payment early, they posted my payments to the previous month, which I had already paid for, which makes their system show that I was past due for making my payment of that month. I asked them to fix this because it isn't right that I am assigned late fees and past due amounts because I pay them 'too early ', which somehow translates to their system determining that too early means late. They have refused to fix this and have told me there is nothing they can do for me. I explained that I have read their billing statement in its entirety and there is nothing listed in their statements to notify customers that if they pay their payment too many days ahead of when its due, then they would be charged late fees. So, this bank gets to collect fraudulent LATE fees from customers because the customer paid TOO EARLY. And then their actions also effect the customers credit score. So the customer also takes a hit to their credit because this bank says 'hey, you paid us too soon and our computer system can't handle it. You need to start paying right before its due or we are going to charge you late fees for being too early. '' How does this make sense? How is it right that Synchrony bank gets to make their own definition for the word late?

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