Synchrony Bank Consumer Loan Complaint

Synchrony Bank Consumer loan department,

Installment loan Managing the loan or lease Illinois

Synchrony Financial offered a low rate financing program in connection with my purchase of - furniture. I set up automatic payments on the account at - % of the minimum payment. My payments were made in advance. One month two payments were processed so the next month I was charged a late fee. In addition they charged another fee on top of the late fee known as the minimum interest charge. I was surprised to see the layering of the fees. The total fees were more than my - % extra payments so for the two past months I have received late fees and the extra charge. Given this cycle one would never be able to get back on track and enjoy the special interest buying incentive. '' I fortunately am able to make the catch up payments however the common citizen may not be able to do so. I think this is a clear case of abuse by Synchrony. I would like to ask that the CFPC take a close look at this program.