Review and analysis of over 51 complaints against Synchrony Financial
Synchrony Financial consumers have reported over 51 official complaints related to APR or interest rate. Out of the 51 consumer complaints against Synchrony Financial, 10% were disputed by the consumer (i.e. the consumer was not happy with how Synchrony Financial responded to their complaint) and 100% were processed in a timely manner. 43% of consumer complaints against Synchrony Financial resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
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Synchrony Financial Credit card apr or interest rate April 7, 2017 - I had a verbal agreement with -/Synchrony Bank to close the account and pay $50.00 a month for 48 months ( interest free ) to clear the account. They never told me or send me any written agreement of the condition of the arrangement. After making few months payment I somehow missed a payment and they immediately cancel the arrangement without notifying me and started charging interest and late payments fee and cause a past due balance of $290.00 which I made for - -.... |
Synchrony Financial Credit card apr or interest rate April 5, 2017 - I am submitting a formal complaint regarding my CareCredit account and request that interest be removed from my account and only be charged from the balance when the promotion ended. The original loan was for $8100.00 and I had paid it down to $3200.00. Going back to the original balance is unfair and deceptive practice. CareCredit is performing like a predatory lending company and not like a bank charging interest rate at 26.99 % to low income consumers. When I called Synchrony Bank to complain and to request a copy of my signed terms and conditions they referred me to the dentist office.... |
Synchrony Financial Credit card apr or interest rate March 24, 2017 - I was unfairly and wrongly charged back interest on unpaid promotional interest purchases. When logged into Amazon store card online, you can select promotional purchases, which shows you the promotional purchases that are going to expire, however in this instance, I had too many promotional purchases ending on - -, so many were apparently not being displayed. The amount I was charged for not paying the promotional purchases off in interest charges was $420.00! and then I was unknowingly being charged interest on top of that each proceeding month thereafter. Thus I thought I was paying... |
Synchrony Financial Credit card apr or interest rate March 20, 2017 - I was not properly informed by Synchrony Bank to pay the interest free balance with the extended period on 30 additional ; day. I did not receive a bill in the mail neither was informed by the representative during the previous months call. I believe that the interest should be waved and they accept my payment and close the account.... |
Synchrony Financial Credit card apr or interest rate March 6, 2017 - In -/-/- my Lowes Credit Card rate on purchases was 24.99 % APR, in -/-/- it was raised to 26.99 % APR. When I called about the reason for the increase, the explanation I was given that is was a corporate decision and went into effect for all customers and that it is line with all competitors rates. My Home Depot card is not that high, nor is my - card. I have an issue with this rate as it is only 3 % below the Criminal Usury Statute here in NJ. I will attach statement from -/-/- and -/-/-.... |
Synchrony Financial Credit card apr or interest rate March 6, 2017 - I 've recenlty been a victim of a preditory loan. I purchased a bed from - - in California and with it came a promotion for 2 years 0 % APR. During those two years I made regular payments on the credit card through Synchrony Bank and also requested e-statements rather than paper bills each month. I never received an e-statement in my email, which on their website it says I was to be receiving e-statements, but they made sure to take out payments from my bank each month. Recently the 2 year 0 % financing period ended and they charged me 30 % APR deferred interest on the original purchase ... |
Synchrony Financial Credit card apr or interest rate February 23, 2017 - Synchrony Bank is applying portions of my payments in excess of minimum payment due to my lower interest rate balance instead of the balance subject to the highest interest rate.... |
Synchrony Financial Credit card apr or interest rate February 16, 2017 - I have Care Credit ( Synchrony Bank ) for my pets. I was told that the interest will be deferred for 18 months on my purchases ( - visits ). Yet I saw an interest charge on my bill. I was informed by credit manager that the interest charge is deferred on Minimum Purchases of -! I informed her that I was never told about that and asked her where on my bill does it say that? She said that it wo n't be on my bill! That I can go online and find it under Tens n Conditions! And she blamed the Retailer for not telling me! This Bank has had problems with deferred interest in the past. The Feds l... |
Synchrony Financial Credit card apr or interest rate February 8, 2017 - I have a Walmart Mastercard. My payment date is the - of the month. - I paid on the - online before -. Walmart immediately recorded the transaction in pending activity for the - making my payment late even though the - was confirmed on my payment page. I noted and corrected it in pending activity. It took me two times to stop the default. - I paid my balance in full on -/-/17 specifically using the -/-/17 date. The payment did not post in my checking account on -/-/17 so I checked my Walmart MasterCard Account because of the last month 's issue. This pay... |
Synchrony Financial Credit card apr or interest rate January 30, 2017 - After i consulted with my medical provider, i was asked to speak to the billing coordinator prior to scheduling anything She provided me with literature about care credit financing attachment included It was aligned to me that there were various payment options available including promotions for interest free financing over periods of 6, 12, and 18 months. I was told my purchase would also qualify because it would exceed the minimum purchase requirement. I was also told that i would have to be approved for credit worthiness. The credit application was submitted and accepted. The purchase was m... |
Synchrony Financial Credit card apr or interest rate January 11, 2017 - Synchrony Credit / Sams Club card : I continue to pay my bill, at least the minimum amount due each month if not more, but the total interest charges and my balance continue to rise, even when I have not made additional purchases for at least 2 months. Furthermore, I am concerned that I am being double billed interest, as my " Balance Subject to Interest '', includes interest that was previously billed on my account, and is not solely comprised of purchases. This is what I have been told by their chat rep ( which the log disappeared once I told him he did NOT answer my question - - specific... |
Synchrony Financial Credit card apr or interest rate January 1, 2017 - I applied for my carecredit card at a dental office, not knowing about promotional purchases and the deferred interest because nobody explained it to me, they checked my score and said i was approved, which i got - different procedures done. Ive never been late, i pay the payments and then i get an email that i have promotional purchases that are about to expire, which they did and it affected my credit report and the interest tacked on is higher than the minimum payment, even when i pay more, it does nothing. I was misinformed about the care card... |
Synchrony Financial Credit card apr or interest rate December 31, 2016 - I 'd like to raise a concern over the interest being charged on my credit card, BP Visa, a private label card owned by Synchrony Bank. I 've had this card for over 20 years. I have not used the card due to a 13 % variable rate for the past couple of years. However, on a recent statement, I noted the card now has a 27.24 % variable interest rate. I called the company to ask why and for a reduction and I was told the rate is non-negotiable and set at that amount for all BP Visa cardholders. The cardholders credit and history are not factors considered. I will be cancelling the card ( I do n't ha... |
Synchrony Financial Credit card apr or interest rate December 13, 2016 - I was making month to month payments with care credit, my last payment was about to be made for close to $400.00 then i realized that all the deferred interested had carried over, now making my balance close to $1000.00. Had I know this information, I would have not signed up for them. I assumed that if the balance was n't paid in full that I would owe the interest on just the balance and not the entire amount. This is very defective and complete theft! -/-/2016 INTEREST CHARGE ON PURCHASES Date Posted:-/-/2016 $690.00... |
Synchrony Financial Credit card apr or interest rate November 22, 2016 - I purchased a bed for - $1400.00 from Sleepys in - -. I would 've paid for the bed in full at that time. However, I was pressured into taking a 'no interest ' 12 month loan ( which was sold by Synchrony Financial ). I then setup the account for minimum monthly payments ( which I planned to change when 1 yr was up ). However, I just went into the account and noticed that on - - I was charged a FULL YEAR OF INTEREST ( at 30 % APR!!!! ) retroactive from the time of purchase. Nobody EVER said anything about there being a retroactive charge. In fact, I worked in finance ( at - B... |
Synchrony Financial Credit card apr or interest rate November 17, 2016 - Good Morning, I have a Stein Mart credit card and last couple of Years they switch to Synchrony Bank and ther give me interest rate almost 50 % .Please if you can HELP me because i have filling thaht i never pay off.I am - - -, - with unemployment wife. Thank You... |
Synchrony Financial Credit card apr or interest rate November 15, 2016 - I lost my job due to career change. I had to take a job in -, Texas. My primary residence is in -, Texas. I discovered Lowes Home Improvement was charging me an excessive 24.99 % APR and called them to ask for help since I was having financial difficulty managing - separate households. They connected me with Synchrony Bank hardship department. The understanding I had with them on the phone was they could help me with a lower interest rate, BUT, I needed to close my account first. So reluctantly, I closed the account. However, its now been over a month since I did what they asked and I... |
Synchrony Financial Credit card apr or interest rate November 9, 2016 - - - - Credit Card : has a paragragh in fine print that entices a seemingly innocent plan. In the fine print : [ **Offer applies only to single-receipt qualifying purchases. No interest will be charged on the promo purchase if you pay the promotional purchase amount in full within 6, 12 or 18 months. If you do not, interest will be charged on the promo purchase from the purchase date. Depending on purchase amount, promotion length and payment allocation, the required minimum monthly payments may or may not pay off purchase by end of promotional period. Regular account terms apply to no... |
Synchrony Financial Credit card apr or interest rate November 6, 2016 - Walmart and Sams cards are charging interest on entire balance even if had a balance of - cents. The balance should be computed on the - cents not the entire $500.00 that is charging excessive interest. They are calculating the interest to make excessive profits I out over $65.00 with this process. This needs to stop consumers pay too much interest already b... |
Synchrony Financial Credit card apr or interest rate October 21, 2016 - I have a credit card with Lowe 's. I received my bill due -/-/- that included a regular purchase I made for $120.00 along with a remaining balance on a promotional amount of $190.00 ( due in full by -/-/2016 ). I made an on time payment of $150.00 through their automated system. I recently received my statement that is due on -/-/- and I notice an interest charge for -. I did n't understand why this had occurred considering the payment I made covered the purchase of $120.00 and the minimum payment of $25.00. I contacted Lowe 's credit card on -/-/2016 and the agent t... |
Synchrony Financial Credit card apr or interest rate October 18, 2016 - I was told I was receiving a 24 month promotional period for my enrollment and I only received a 12 month promotional period. My original purchase was $2200.00 and after over a year of making payments each month, my balance is now $3000.00, more than the original purchase and the interest accrued is roughly $1500.00. This should not have happened as I was told I was receiving a 24 month no interest promotion.... |
Synchrony Financial Credit card apr or interest rate October 18, 2016 - My wife and I have gotten ourselves into too much debt, and that is our responsibility, we understand that. We want to pay off our obligations rather than file Chapter - so we are trying to do credit counseling. We received letters from Synchrony Bank on acceptance to the program, and am shocked at their rates. We are asking for help, not a write-off, and they responded with 26.99 % for JC Penney, 26.24 % for Amazon, 23.15 % for Walmart, and 15 % for Care credit. These rates are penalty rate high, not assistance. In comparison - reduced the rate to 0.00 %, - to 5.90 %, - - to ... |
Synchrony Financial Credit card apr or interest rate September 8, 2016 - I made a purchase on a - store card on -/-/- and was offered a promotion where the interest was deferred for 18 months. Since I had e-delivery and all my communication was electronic, I missed the deadline -/-/- for the promotion. The bank ended up charging over $1300.00 in interest. I called the bank and offered to pay the account in full on -/-/- but was told they will not waive the interest since it had been over the 30 day grace period aloud to make adjustments to interest. It had been 56 days by that point. I acknowledged my mistake and admitted it was an o... |
Synchrony Financial Credit card apr or interest rate August 22, 2016 - The following - department store credit issue by Walmart and JC Penny do not apply monthly payments to the highest interest bearing transactions. I have promotional rate transactions for both cards that are differed interest and each month they try and pay down my differed interest. I have to call them every month and request my payment only be applied to my interest bearing transactions.... |
Synchrony Financial Credit card apr or interest rate August 5, 2016 - A credit card with Belk Department store escalated interest charges when I did not pay off balance in full.... |
Synchrony Financial Credit card apr or interest rate July 29, 2016 - Synchrony Bank purchased the BP Visa Card program and raised my interest rate to over 27 % on outstanding balance and purchases. I called customer service to request some explanation and a lower rate and they said they can do nothing. I am in a position where it is difficult to pay the balance right now, but I seem to be stuck paying a huge portion of my payment each month to interest.... |
Synchrony Financial Credit card apr or interest rate July 18, 2016 - On -/-/- I charged $500.00 to my carecredit card to have vet work done for my mom 's cat. We took advantage of a 12 month promotion. Pay if off in 12 months and we would n't be charged interest. We budgeted $ -/month for the payments, with the belief that it would be paid off within 11 months. Due to some cat rescue work, I did have to make some additional charges on the card ; however, I kept paying $ -/month with the belief that it would be applied to the oldest charge first, which I believe is part of the new regulations. However, on -/-/- when I was paying my bill... |
Synchrony Financial Credit card apr or interest rate July 6, 2016 - I opened a Care Credit account. I was told that no interest would be charged on promotional purchases. In - this year, I was charged over $1100.00 in interest. I requested that the interest be removed and Care Credit refused to do so. I was told that since I did n't pay all of the promotional purchase off in time, all of the interest for the entire purchase amount was charged to my account, over $1100.00. I was told these purchases would be interest free. This was not true. I have paid a total of over $4500.00 on my account, and I can not see where my payments are going. My balance is... |
Synchrony Financial Credit card apr or interest rate June 17, 2016 - I applied for a Sam 's Club/Synchrony card -/-/- for a promotional purchase for one year interest free. At the time of application, I was told I was declined. However, a week later I received a paper stating that I was accepted and should be receiving my cards soon. The only reason I applied was for this promotional purchase, which I ended up putting on another card. When I called Synchrony, I was told that if I go into the Sam 's Club and have them re-bill my new card with the purchase, I could then call in and they would apply the promotional rate. So I did this and called back Synchron... |
Synchrony Financial Credit card apr or interest rate June 16, 2016 - Care Credit company continues to have deceptive practices regarding interest rates on cards even after they were orderer to discontinue their unfair and deceiptive practices. I was in need of - and I did not have - insurance at the time to cover the cost. I was offered the card by my - office. They did not explain in detail about " promotional periods '' or " deferred interest ''. The more I pay on my balance, the larger it grows. I am recently divorced and can not afford the growing balance on my account. It has also impacted my credit score as well. I would like a resolution to Care... |
Synchrony Financial Credit card apr or interest rate June 14, 2016 - We opened an account through - - and were told it was - months same as cash. We set up an automatic payment that was more than enough to pay off the account in less than 18 months. My wife checked the account balance shortly before the - months was up and paid what would remain after the following automatic payment of $200.00 to close out the balance. - months later, we received a statement that we owed $29.00 and were late. The minimum payment was $2.00. The first business day after receiving this notice, I called and explained the situation to the man that answered the... |
Synchrony Financial Credit card apr or interest rate June 11, 2016 - I borrowed approximately - dollars on my Care Credit card. I have been making payments every month for over a year and a half. My payments have been between - and - dollars each month. My care credit statement says that I now owe - dollars even though I have been making payments. I believe the Care Credit / Synchrony employee I spoke with on the phone told me my interest rate was around 26 % and that it was 0 % initially and that I was charged accrued interest after not completing payments after 1 year. ... |
Synchrony Financial Credit card apr or interest rate May 29, 2016 - I received a Care Credit card to pay for my dental work, having not been told that a very high interest rate for the total amount would be added to my account after one year. The interest was $ -+!!!!! I called to file an extension and was given more time, since I had no idea that this was the case. Nine days after the extension date, I called to pay the amount in full of $1800.00, they said that I would have to pay the interest too. I worked massive overtime to come up with such a large chunk of money, only to discover they would not honor this. They were also incredibly rude. They said ... |
Synchrony Financial Credit card apr or interest rate April 29, 2016 - There was a fee on my Amazon store account through Synchronicity Bank that should not have been there. They are promoting a 6 month interest free payment plan, however I purchased something outside of that promotion, and then made a payment, they did not apply the credit to the non-promotional balance, thus fees started to incur. I contacted them and I assume the funds have been properly reallocated so I will no longer incur fees while the promotional balance is paid off. However, I believe they are in violation of the law by not applying payments to higher interest purchases first. I just wan... |
Synchrony Financial Credit card apr or interest rate April 12, 2016 - I suffered a work-related injury in - and am now permanently -. My income has dropped substantially in the past 5 years and I am now on a low fixed income. On - separate occasions from - to - I had zero income and had to use my Sams Club card to purchase food, thus running up debt out of necessity. I am currently in the process of attempting to pay down my Sams Club ( Synchrony Bank ) card, and stopped using the card some time ago. I have always made at least minimum payments and have never missed a payment. Despite this, my interest rate has been unilaterally raised three times... |
Synchrony Financial Credit card apr or interest rate April 4, 2016 - -/Synchrony Bank - - - -, FL - Dear Sirs : I applied to -/Synchrony Bank to purchase some furniture. It was 18 months interest free. The total amount was $1900.00 dollars. I had made monthly payments on time and paid it down to $1100.00 Dollars. I had - and no longer could work the job that I had due to the - I was in. Synchrony Bank started charging me an interest rate of 29.99 % and late fees. My balance is now $2700.00. I know of a person who has gone through the same thing and his balance is up to $10000.00 dollars. I have tried to communicate with them t... |
Synchrony Financial Credit card apr or interest rate March 30, 2016 - On -/-/- I went to a - clinic named - - -, - offices located at - - - -, - Fl. - seeking for - treatment, they refused to accept monthly payments or payments for visits, t was very clear that I could pay every time for my treatment even if that would be 3 times per week, instead the clinic contacted Care Credit, to get me a loan so they could get paid ahead the amount of $5000.00 I already had a credit with Synchrony Bank ( Care credit ) for $1000.00 ( card ending in - ) another credit card for $4000.00 ( card ending - ) was mailed to me... |
Synchrony Financial Credit card apr or interest rate March 23, 2016 - I was completely duped by Synchrony Financial ( www.synchronyfinancial.com ; - : SYF ) which was spun out from GE ( - ). This company claims its roots in helping American 's purchase GE appliances in the Great Depression. What a joke! The story is that I purchased some sports equipment ( $7500.00 ) for my rehabilitation from - - using what I understood to be a 0 % finance credit account for 18 months after which point I would then start to incur finance charges ( if not paid in full ). That 's perfectly acceptable to me, but - things happened, ( 1 ) They charged me for all p... |
Synchrony Financial Credit card apr or interest rate March 17, 2016 - I signed up for a care credit card which was offered through my doctor office for the use of my visits. At first, they charged me $2.00 for interest in the first 1-2 years and there after the interest spiked to an exorbitant amount. Below, are the excessive fees that are applied to this card. Interest charges are the following : -/-/- $790.00 -/-/- $340.00 -/-/- $58.00 -/-/- $63.00 Balance in - - ( prior to these large interest charges ) : $2200.00 Current Balance as of - - : $3000.00 ... |
Synchrony Financial Credit card apr or interest rate February 26, 2016 - I have had a B. P. gas card for over ten years now, never paid late, my interest raye as of -/-/- was 21.49 % now since syncrony bank has taken card over, rate has increased to 27.24 % an increase of 5.75 % or ruffly 26 %, I feel as a loyal customer this is unfair, and would like to know on what do they base % on? ... |
Synchrony Financial Credit card apr or interest rate February 15, 2016 - I was at my - was - and my bill was high, they offered me carecredit company they said to me it 0 interest for 6 month and i did signed up. I was making payments every month but wasnt enough to finish all the amount i took from the card. After the 6 month 0 interest pormotion finished the company has charged me over - dollars almost - for the first 6 month which is the pormotion period. How come its pormotion and 0 interest and now they say cause i didnt pay in full before 6 month they charge me past 6 month which should be 0 interest. They scame they didnt explain this when i ... |
Synchrony Financial Credit card apr or interest rate February 14, 2016 - I went to the doctor and I did n't have insurance, and so they unwillingly signed me up for care credit. I AM NOW BEING CHARGED ALMOST - DOLLARS IN INTEREST FOR A CARD THAT I did not agree TO OPEN. ... |
Synchrony Financial Credit card apr or interest rate February 8, 2016 - I am complaining about the deferred interest that 's been added to my care credit account. My fist charges was in - - amounting to $2500.00 for dental procedure and promotional end -/-/-. I have another charges for cosmetic procedure -/-/-. I have been paying $100.00 from - - every month, then in -/-/- paid $270.00, -/-/- $100.00 -/-/- $100.00, total of $2600.00 by the end of - - which covers the $2500.00. I talked to the their customer service because they were adding the deferred interest of $1000.00 for not paying the balance. I tol... |
Synchrony Financial Credit card apr or interest rate February 6, 2016 - Promotional rate fraud Synchrony Bank I opened a promotional credit account for the purchase of a treadmill. tI paid the exact amount necessary to pay off the treadmill before the promotion expred. The card applied my payments to non accruing interest instead of principal and then hit me with deferred interest charges which exceeded the cost of the treadmill to begin with. I was never notified of any promotional rate expiration as required. ... |
Synchrony Financial Credit card apr or interest rate February 1, 2016 - I contacted Synchrony Bank for my Walmart credit card account regarding the way my payments are being applied to my account, as I have both a zero interest promotional balance and an interest bearing blance. The rep stated that payments are first apllied to interest and fees, then it is applied to lowest interest balnce to highest. I verified to make sure I understood correctly that any payment above minimum is first applied to interest and fees, then it is applied to the lowest interest balance FIRST before being applied to higher interest balances. He stated this is correct and if I would li... |
Synchrony Financial Credit card apr or interest rate January 29, 2016 - I have been a BP Visa credit card holder since -/-/-. This card was a fixed rate, 8.49 % card on all purchases. Around the credit bubble in -/-/--/-/-, I received a notice from BP that gave me - options : 1 ) maintain the low interest rate but now have a minimum payment equal to 5 % of the balance ; or, 2 ) continue with the 2 % of the balance as a minimum, but the interest rate would be variable - and at that time around 14.9 %. I opted for the former, even though at times that made my minimum around $1300.00 per month. That was not a concern for me as I preferred having ... |
Synchrony Financial Credit card apr or interest rate January 27, 2016 - I owed the - ( - -, -, MA ) a balance from what the insurance did not cover. I wanted to set up a payment plan with them I was told they could not do that, but they could set me up with credit from a bank for the balance. I was told the interest rate would be no higher than 14 %. $1000.00 was put on the card when I got the bill the interest rate was 26.99 %. I called the provider Synchrony Financial to see if I could get the Interest rate lowered and was told no. I never would have agreed to this if I knew what the true interest rate was going to be. I feel I was deceived. ... |
Synchrony Financial Credit card apr or interest rate January 26, 2016 - Dear consumer finance, I 'm filing a complant against GE Capital Retail bank. I applied for credit in - when I was at the - in - Minnesota, I needed to have a few fillings the cost was quite expensive, the dentist assistant offered to see if I was eligible for a care credit card, I was approved for $4000.00, she explained that it was a medical credit card she there was no interest if paid in full, so I said ok and they started working on my teath, I had quite a bit of work done. I was going over my bills and had noticed different dates for each time I had worked done, and that -... |
Synchrony Financial Credit card apr or interest rate January 26, 2016 - On - -, 2015 I went into Sams Club and they were signing customers up for credit cards. I applied and they approved me for a $5000.00 limit. I asked what my rate was, at which time the lady told me I was approved for their 14.90 % rate. She did not give me any paperwork only verbally told me my rate and printed a new card with my account on it at the store. I then spend about $3000.00 before I got my actual card and paperwork in the mail. The paperwork they send me said my rate was 22.90 %. I then emailed them and told them what took place. They sent me a letter and refuse to do anyt... |
Synchrony Financial Credit card apr or interest rate January 3, 2016 - I was approved for a - - Credit Card for - limit. I bought a bed for around - and was told they was no interest on the card. Each month I receive an email informing us to pay the minimum balance of $25.00. Each month I pay $100.00 to get the debt down quickly. My balance went down to about $200.00 and in -/-/- I receive an interest charge of almost $400.00 at 29.9 %. I am shocked as I have never seen this in any of the emails notifying me payment was due. I want to pay my original balance in full immediately and have the interest charges dropped. ... |
Synchrony Financial Credit card apr or interest rate December 27, 2015 - Care credit charged me interest when supose to be 0 % interest for 6 months same time as the care credit law suit ... |