Consumer complaint received 2024-07-04 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: SYNCHRONY FINANCIAL
State: UT

Complaint narrative:
I called Synchrony on XX/XX/XXXX at XXXXXXXX XXXX. XXXX and spoke to a customer support agent about the new paper statement fee that Synchrony is going to institute. I asked about opting out of the fee but still getting paper statements. The agent said that he couldn't do that. I would be forced to pay a new fee if I wanted the statements mailed. I wanted to escalate my complaint. 


Email is totally unreliable and I am too old to trust my memory on logging in to check balances. Like most of the world, I track my finances using printed statements. Besides, I receive over XXXX emails per day and can't possible see everything. This is no exaggeration -- it is a conservative number and can be as high as XXXX. Contrast that with the U.S. mail where I get about XXXX letters per day on the average. It is easy to spot important correspondence. I NEED a paper statement and don't think it should cost. It is a cost of doing business. I have about XXXX credit cards and they all mail statements. Paperless is an option for some but never a requirement. 


I want paper statements because it is possible for a charge to be placed on XXXX of my credit cards that I didn't make. That has happened -- more than once -- and each time, I received a statement apprising me of the charge. Each time, I was able to handle the fraudulent charge in a timely fashion because of the paper statement. I should have to engage in research to find out if I have unexpected charges on every credit card! 


I have had my Synchrony card for MANY years. I am an asset to them and they now want to charge me for ordinary business activity. All banks make money off my purchases. They charge the vendor a fee every time their card is used. That fee, along with interest collected on revolving balances, covers the expenses of the business ( not to mention loans and investments, etc. ). It seems like Synchrony is getting greedy. Worse yet, they are making it much easier for people to miss a payment. That consequence would engender a late payment fee and decrease the person 's credit score. This would force many people into financial ruin. I have exceptional credit and have never had late payments. It is risky and unfair to shift these costs to the consumer. 


Also, I am under the impression that there are states where it is illegal to charge for statements. If so, this would be unequal treatment. Yesterday ( XX/XX/XXXX ), I sought to get a waiver by talking with another agent using the chat feature at Synchrony. I spent XXXX minutes and they were no help. Actually, less than no help. I am very frustrated that banks want to shift this cost to the customer while collecting money off every purchase I make. It is unconscionable for a large and hugely successful financial institution to dramatically change its business terms which severely harms and places at risk consumers in this manner. The CFPB needs to investigate this extortion and money grab.

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