GE Capital Retail Credit Card Complaint

GE Capital Retail Credit card department,

Billing disputes Pennsylvania

I have a credit card with Sleepys that is through Synchrony Financial. Every month I have paid - which is more than my minimum payment. I set up the payment to come automatically through my bank on the - of each month. I unfortunately had not looked at my statements for over a year. I recently opened one up and noticed they charged me a late fee. I opened up old statements and found that they too had late fees associated with each payment even though the payment was received by them each month around the same time. I called to ask how I could be charged a late fee each month when I was paying each month, let alone that I was paying more than the minimum. I was told my payment had to be received before the due date each month and each month it was received after that date I was charged a late fee. I understand that the - payment would be late, but is n't every payment after the - one I was charged the late fee just early? I understand how the bank needs to charge late fees because they are not receiving a payment more than the minimum each month. The bank was getting more money than I was required to pay and they were charging me a late fee every month. This to me is a practice that is meant to maximize the amount they can charge the consumer rather than an attempt to recoup money due the company. It to me seems wrong. They assured me they were allowed to do this under the consumer protection act and they were following the law. If this indeed was the intent of the law then it is clearly a loop hole in the law so financial institutions can continue to charge excess late fees only to help their bottom line. Of the - late fees I was charged they waived - and assured me that was more than they had to do and I should be happy they were doing that.