Consumer complaint received 2024-05-10 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: SYNCHRONY FINANCIAL
State: GA

Complaint narrative:
On XX/XX/2024 during a XXXX XXXX, I was scheduled for a very important follow up XXXX to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX In scheduling I was informed that my current insurance would only cover 50 % of the XXXX costs and I would be responsible for the remaining balance. The XXXX XXXXXXXX costs were quoted at $ XXXX. This left an estimated balance of {$9800.00} ( per XXXX XXXX, XXXX scheduler for XXXX XXXX XXXX XXXX XXXXXXXX ) as my responsibility. 

The remaining balance had to be paid upfront in order to proceed with the XXXX  XXXX. Due to the large balance, CareCredit ( which was issued through Synchrony Bank ) was offered as an option to assist with the overall costs of the XXXX. I applied and was approved instantly for the full amount of the remaining balance, which at that time was {$9000.00}. 

On XX/XX/2024, once I arrived at the XXXX XXXX, the doctor and I decided that the XXXX XXXX XXXX XXXX XXXX wasn't necessary and could be reconsidered for a later time if needed. This last-minute change reduced the initial balance to half of the prior estimated XXXX, ( which at that time was quoted at {$4700.00} ). This balance was also an estimated total, to be utilized as an estimate until all funds were confirmed and moved to their respective accounts. I paid {$4700.00}, in which I was then informed that I would be issued a refund as a result of the decreased expenses. 

Unfortunately, that refund has just been processed ( as of XX/XX/XXXX it was sent back to the CareCredit card to begin processing. Being that my balance was so high on the card, it is affecting my minimum monthly payments as well as my personal credit score. Due to the fact that the card ( from the credit bureau 's side ) appears to be maxed out, it has caused a hindrance in my business endeavors as I have been denied funding for my business due to my " personal lines of credit being overused and underpaid. '' I've reached out to Synchrony Bank ( the company responsible for the credit card ) several times regarding this matter as they are the ones reporting to the bureau that my credit card is maxed out. And as of today, XX/XX/2024 no changes have been made to any of my credit reports. 

I filed disputes with all XXXX bureaus to have the inquiry and misreporting removed in late XXXX and early XXXX of 2024. This prompted an investigation on Synchrony 's behalf in which they then closed the account without my permission, stating they had to investigate fraud on the account in response to the dispute. This in turn hindered the refund from being processed because the account was no longer active. 

Due to this untimely inconvenience, I was unable to retrieve the funds back to the card so that it would lessen my personal credit usage data. In addition to this negative remark on my report, I was denied funding for my business in the amounts of {$200000.00} and {$75000.00} from various lenders who were excited to earn my business prior to these charges not being rectified. My credit score dropped from XXXX to XXXX in a matter of weeks due to this. XXXX banks in particular, who I've built solid business relationships with ( XXXX and XXXX ) denied my company funds in the amounts of {$20000.00} and {$15000.00} also in reference to this. 

The denial of these funds has caused a tremendous amount of hardship, pain and suffering as I have had to make unnecessary arrangements to now stall the building and construction plans of my new facility due to the lack of funding. Now that construction has been on hold, I am unable to move forward with the relocation of my business, which has to be complete when my current lease ends in XXXX. This has in turn created a strain on my relationship with the current property manager as I have agreed to vacate the premises by 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 monetary relief