Synchrony Bank Consumer Loan Complaint

Synchrony Bank Consumer Loan department,

Installment loan Managing the loan or lease Managing the loan or lease California

Purchased an item and offered interest free for 24 months if I got their credit card ( GE Capital, now Sychrony ). I was given an amount to pay over those 24 months and set up automatic payment on GE Capital 's ( now Sychrony 's ) website. Problem is twofold : 1 ) Not really interest free, it is interest deferred ; and 2 ) the monthly payment they set up for me was a minimum amount and not sufficient to pay off the amount in 24 months. On 25th month, got hit with interest charges and late fees retro to the original principal amount, even though - % of the principal had been paid. That was 34.99 % interest per month retro for 24 months! Statement just prior to last payment said nothing about this happening. Did n't know about it until interest charge appeared on next statement. In fact, 23rd statement just said that I had to continue to make the minimum payments to avoid a $35.00 late fee. That was incorrect as well. I had to pay it off in order to avoid the penalty charge.