Consumer complaint received 2024-03-26 00:00:00
Product: Credit card — Store credit card
Issue: Other features, terms, or problems — Other problem
Company: SYNCHRONY FINANCIAL
State: MI

Complaint narrative:
On XX/XX/XXXX, I purchased golf clubs and was offered an interest-free financing option through Synchrony Bank XXXX The account was opened on XX/XX/XXXX for {$3500.00} ( the maximum amount that I was approved for ). 

I elected to sign up for monthly auto-payments. I spoke to customer service and received emails saying my first monthly payment would be XX/XX/XXXX for {$120.00}. 

On XX/XX/XXXX, the entire account balance of {$3500.00} was taken out of my savings account. 

I contacted Synchrony Bank that day to correct this action and clarified that I elected to enroll in monthly minimum payments. I also called my bank, XXXX XXXX, to let them know that the purchase was going to be reversed ( as it put my savings account below 0 ). 

On XX/XX/XXXX, I received a Refund Check in the mail from Sychrony Bank with no accompanying paperwork or details for {$3400.00} ( which would be the total balance that was taken out less the first months minimum payment ). I cashed the check to put my savings account back to above 0. 

On XX/XX/XXXX, I checked my Synchrony account balance and saw that there had been an adjustment made and my new balance was {$6900.00}. Confused by this, I called customer service on multiple occasions to inquire about the balance, and was told that " it was an error and will be corrected in a few business days '' and that all I needed to do was " make the minimum payment on XX/XX/XXXX of {$120.00} ''. After a few days, the balance had still not been adjusted. I called customer service again and was given the same response. 

On XX/XX/XXXX, I checked my Synchrony statement and saw that 1, I had been feed {$30.00} for a " Return Payment '', and also had been paying 30 % interest on my balance starting in XXXX. 

On XX/XX/XXXX, I contacted Synchrony Bank to discuss and hopefully resolve this matter and was told there was " nothing they can do besides waive the {$30.00} fee ''. 

The results of this happening are : My 743 credit score dropped 81 points to 662 due to Synchrony ( without authorization, documentation, or communication ) made two corrective actions to their mistake which resulted in them " loaning '' me an additional {$3400.00} which was over the limit that was approved, therefor my credit score dropped and I have been paying 30 % interest. There was no communication, permission, authorization offered or presented to me. The customer service representatives I spoke to ( over 6 at this point ) had all given me incorrect and inaccurate information that led me to believe that Synchrony had made a mistake and will be adjusted soon. It turns out that they did make a mistake, but it will not be adjusted, and my credit score was affected, and I am paying interest on " loan '' that was supposed to be corrective action for taking out the wrong payment that I was not properly informed of. I never requested any additional money or a loan from Synchrony Bank. The paperwork I signed and the only documents that I have seen and have my signature is for a {$3500.00} Interest-Free loan . 

Synchrony has loaned me money without my request, permission, knowledge, consent, and authorization. I am now paying 30 % interest on a loan that I was not aware of and was told by Synchrony customer service was a mistake that was being corrected. My credit score dropped significantly, and I am planning on purchasing a home soon. They offered no help and no answers. I feel very wronged by Synchrony Bank as I am dealing with damages to my credit score and also paying interest on the behalf of the multiple mistakes they have made and the lack of competency from their customer service representatives. I have tried about 7-8 times calling Synchrony Bank XXXX resolve this issue and was either told incorrect information from their customer service or was told there was nothing that they can do. Why am I being penalized for their mistakes?

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