Synchrony Financial Credit Card Complaint

Synchrony Financial Credit card department,

Late fee North Carolina

Synchrony Bank administers Belk Store Credit Cards. Their online payment site and all of their statements claim the due date is the - of the month. I had sometimes paid on the - or the - of the month which resulted in receiving a late payment fee, even though the date I paid was on or before the stated due date. When I raised this issue with the -, I recived a condescending letter stating that I should always make my payment 2 days before the due date to avoid late payment charges. This seems misleading and abusive. If the bank wants to move its due date for payment earlier in the month, it should be transparent about it and send out a notice. - recently " aligned '' its billing across company divisions which resulted in the due date for my phone bill coming 5 days earlier in the month. If a large company like that can successfully communicate such a change to their customers, why would a regional retail store refuse to


unfair and abusive practice that is likely to affect many of Belk store 's customers. If possible I would like a refund of all late fees for payments made on or before the stated due date ( - of the month ) but failed to clear to the satisfaction of the bank. It seems to me that any consumer should be able to plan and rely on the stated due dates in making payments. It is not fair to create a due date that does not reflect the actual date by which the payment must be " received '' or " cleared '' to avoid late fees. If a customer presents a check at a point of sale, it may take several days to clear their bank. Would it make sense to dun such a customer for a late fee because of the time it takes the banking system to complete a transaction? My accounting training is clear that transactions are recorded on the date they are completed. Revenue is recognized on the date of the transaction, not the actual date the bank releases funds. In the same way Invoices are handled based on the date they were issued not some later date on which the invoice happens to arrive at the customer 's A/P department.