Consumer complaint received 2024-10-02 00:00:00
Product: Credit card — Store credit card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: SYNCHRONY FINANCIAL
State: CA

Complaint narrative:
On XX/XX/XXXX I had an existing balance of {$320.00} and completed a purchase for {$8100.00} under the advertised promotion of 48 months no interest with equal payments equaling {$170.00}. On XX/XX/XXXX, I made a payment of {$2000.00}, followed by a second payment of {$2000.00} on XX/XX/XXXX another for {$94.00} on XX/XX/XXXX. This would bring my balance down below {$4400.00} within XXXX weeks of the original purchase. I expected my minimum payment to go down based on the promotional period to less than {$100.00}. It did not go down. Shortly after the billing cycle closed for XXXX, I contacted Synchrony to ensure minimum payment would be adjusted and I was reassured that it would the following month. It did not go down. I also setup auto payment for approximately {$90.00} to come out of my account. At the end of the XXXX billing cycle, the minimum payment was not adjusted down. I then called customer service and the rep said previous rep was incorrect, because the promotion was for XXXX equal payments. At this point I explained I knew the terms and conditions of the promotion as I had a copy in front of me, and I understood what they said and did not say. It does not say - If you make payments in excess of the minimum wont be changed and that your minimum will stay the same and you will still owe {$170.00} per month.It also does not state - When you make payments in excess of the minimum the promotional period will be effectively shortened.and whats more it doesnt say - If you make payments in excess of the minimum you are still obligated to make at least XXXX payments of the minimum which XXXX would pay more than what I purchased After explaining this to the representative he said he would submit my request for review and update. I never heard back from Synchrony via email or mail. Then on XX/XX/XXXX, there was a withdraw from my account in the amount of {$170.00} that I did not authorize. I authorized {$87.00}. Shortly thereafter I contacted Synchrony again ( spoke to XXXX ID XXXX ) and re-explained the situation. I was again told the same thing and I responded with the same points I provided and told her Synchrony was not authorized to pull more than my authorized amount for payment, AND they did not respond the last time I brought this situation up to them. XXXX kindly assisted me and resubmitted my complaint. 

On XX/XX/XXXX I received correspondence in the mail from Synchrony from XXXX XXXX stating they would not change the minimum payment due and attached the existing terms and conditions of the store cardnot the promotion. In his letter he states Per the Terms and Conditions of your account enclosed, your total minimum payment will fluctuate based on the balance of your account XXXX XXXX also states As disclosed in our terms if the scheduled amount of auto pay is less than the minimum payment due, the system is set to deduct minimum amount due It is clear XXXX XXXX understands the minimum payment should be reduced based on the balance and promotional period. Its also clear that XXXX XXXX believes Synchrony is authorized to take out the amount it determines as the minimum regardless of consumer authorization. Whats more the terms and conditions he has attached for the card ( not the promotion ) does not state Synchrony is authorized to take payment in excess of customers authorized amount. It does state that failure to make a minimum payment could result in late fees and nothing more amount about payment authorization. In addition, the terms and conditions of the promotion on Guitar Centers website also does not state Synchrony is authorized to deduct from customer account an amount greater than what is authorized. 

48 months no interest with equal minimum payments. The promotional period is defined as 48 months, and minimum payments need to be made to fulfill that agreement within 48 months. It is not obvious in the card or promotion terms and conditions that implies something else. It does not state in any terms or conditions advertised 1 ) Equal agreed upon payments till the balance is paid in 48 months OR less or 2 ) Equal agreed payments for 48 months regardless of the balance. I have paid more than half of the balance of the original purchase, and the minimum payment should come down. 

I do have purchases that are on my card that were made prior or after this promotion. The balance before the purchase promotion in question of {$320.00} was on a promotional, and I made a purchase on XX/XX/XXXX. I would expect any minimum amounts will be added from these purchases, and/or should be paid first. Those amounts would add up to {$600.00}. Ive made payments in excess of {$4800.00} since the promotion which should cover previous amounts due with precedence. Based on this information the overall minimum payment should be reduced. 

- Timeline - XX/XX/XXXX Purchase {$8100.00} 48 months no interest - XX/XX/XXXX Payment {$2000.00} - XX/XX/XXXX Payment {$2000.00} - XX/XX/XXXX Payment {$94.00} - XX/XX/XXXX Payment {$380.00} - XX/XX/XXXX Purchase {$290.00} - No Promo - XX/XX/XXXX Payment {$170.00} Not Authorized - XX/XX/XXXX Payment {$210.00}

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