Synchrony Bank Credit card department,
I signed up for a GE Care Credit Card and was told that the loan would be interest free for 1 year. I had a $30.00 balance ( from a $2000.00 ) loan remaining and they proceeded to charge me on the notional/original loan amount and charge me a predatory interest rate on the original balance without my knowledge. Subsequent to this I took out another loan on the same card and all of the money was used to pay down the - loan and I continued to get charged an astronomical amount of interest. When I tried to discuss this with their representatives, they could n't explain it. I made a minimum payment of over $ -/month and most of that was going to interest, when it should have all been principal. It is to my understanding that GE was ordered to payback $34.00 to others like myself who were operating under the same false pretenses.
Synchrony Bank customer in Michigan
Dec 10, 2015
* Source: CFPB Complaint Database
Synchrony Bank response to complaint:
Closed with explanation
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