Consumer complaint received 2024-10-25 00:00:00
Product: Credit card — Store credit card
Issue: Fees or interest — Problem with fees
Company: SYNCHRONY FINANCIAL
State: NC

Complaint narrative:
I purchased three mattresses from Mattress Warehouse in XXXXXXXX XXXX XXXX and they were delivered late in XX/XX/XXXX. I applied for and was approved for one of their financing options through Synchrony Bank on the date of purchase ( 36 months term ). Our family had previously relied on a similar loan product for a purchase from Mattress Warehouse. I directly asked the sales associate whether if I paid the balance within the promotional period if I would avoid all interest and fees and was told that would be the case : no interest or fees. 

When I later registered on the Synchrony website on XX/XX/XXXX, it reflected a balance approximately {$80.00} higher than the amount I agreed to in the store, apparently for what Synchrony calls a promotional fee. About that same time I called Mattress Warehouse and explained to the sales associate who answered the phone the discussion I had with the sales associate when I purchased the mattresses and that I was told there would be no interest or fees if I paid within the promotional period ( XXXX ). The associate from the Mattress Warehouse store where I purchased the mattresses suggested calling Synchrony ( XXXX ), and Mattress Warehouse explained that the promotional fee was initiated by Synchrony and was not a matter Mattress Warehouse was responsible for. The associate I talked to said he would investigate the matter regarding what I was told at the time of the purchase, and he would get back to me, but I never received a follow up call or other message.

The representative from Synchrony alternatively said that it was a fee from Mattress Warehouse and that Synchrony could not address it. I later found out that this was not true in a later call to Synchrony, it was actually a Synchrony policy that was being newly imposed. After waiting for some time and not hearing from Mattress Warehouse on a way forward to address this I followed up again on XXXX XX/XX/XXXX with the store where I purchased it from ( XXXX ), they then forwarded me on to a Mattress Warehouse customer service number ( XXXX ), who referred me to another higher level customer care number and I eventually spoke to a Mattress Warehouse district sales manager, XXXX XXXX XXXX XXXX ). She explained the history of their credit relationship with Synchrony, that there were previously no promotional fees levied if payment was made by the end of the promotional period in all the maturity options, but very recently Synchrony imposed this new 2 percent fee for programs with XXXX, XXXX and XXXX  month maturities. She explained there were also other maturity options ( that had not been explained to me at the time of purchase ) that included 12-month and 24-month maturities that did not involve a promotional fee. She suggested following up with Synchrony to change the terms to one of those shorter maturities to see if the {$80.00} fee could then be waived. 

I immediately called Synchrony ( XXXX ) and they said I would need to fax documentation from the date of purchase and they would consider the issue and get back to me within 60 days. I faxed the information to XXXX. Ultimately, I was given a response through the Synchrony website on XX/XX/XXXX, but it was a standardized answer that had nothing to do with the particulars of my case. 

After this unsatisfactory response, I followed up with XXXX from Mattress Warehouse by text message on XX/XX/XXXX. The response was promising : I will reach out to corporate, XXXX. After there was no response, I followed up regarding progress on XX/XX/XXXX. Again, no response was forthcoming. Finally, I directly called XXXX on XX/XX/XXXX, but her voicemail was full, so I sent a final text message to her that same day. No response to any of my messages. 

I am submitting this complaint to the CFPB. The rollout of this new Synchrony policy was poorly executed on all sides : knowledge of the details of the program were very limited for Mattress Warehouse in-store staff and they provided misinformation. Synchrony call center representatives and the coordination and communication between these two partners for this credit program were very poor. They were not interested in cooperating with each other to make a very basic change to the maturity which would eliminate the need for the promotional fee on my accounts ( change from 36 months to 12 or 24 months ). As noted, they contradicted each other as to who was responsible for the levy of the two percent fee. I am paying the balance of the loan at a pace that would eliminate the debt within 24 months and could accelerate further that pace. I am simply requesting that the loan be reflected as 24 months ( or less ) and the promotional fee charged should be reversed. But Mattress Warehouse and Synchrony refuse to cooperate in this way.

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