Synchrony Financial Credit Card Complaint

APR or interest rate

Synchrony Financial Credit card department,

APR or interest rate California

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 like my payments applied differently, I can call after a payment is posted and let them know how I would like it allocated. I am confused because I thought the 2009 CARD act prohibited applying payments above the minimum balance to the lowest interest rate first.

Synchrony Financial customer in California
Feb 01, 2016

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with monetary relief

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