Synchrony Bank Credit Card Complaint

Credit card protection / Debt protection

Synchrony Bank Credit card department,

Credit card protection / Debt protection Rhode Island

In - of - I purchased a mattress from - total cost was around $2800.00 and was offered a promotional 0 % interest credit card promotion from Synchrony Financial formerly GE Capital. I also set up automatic payments and e-bills rather than paper bills. In - of - my promotional offer ended and I was charged differed interest at a 29.99 % rate in the amount of about $960.00. In my ignorance I did not realize that my promotional rate had expired until a few days ago. I found not only was I charge the - but had been charged interest a 29.99 % of the new total balance for the past 6 months. I did not understand that this was a differed interest rate or should I say I misunderstood. So overall I have now been charged a total of - in interest so more than half of the original cost for the matters. I believe that these differed interest rates deals are deceiving and in some cases predatory. They were once outlawed but stores and companied lobbied for them and congress created a loop-hole in the system. I have found many more who have been duped with this deal and I want to make others aware. If you have any ideas as to how I could reverse this I 'd appreciate it.

Synchrony Bank customer in Rhode Island
Dec 31, 2015

* Source: CFPB Complaint Database

Synchrony Bank response to complaint:
Closed with explanation

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