Synchrony Financial Credit Card Complaint

Synchrony Financial Credit card department,

Payoff process Ohio

I have - deferred interest promotions on my account. 1. $720.00 which was taken on -/-/2016 and was for 12 months 2. - which was taken on -/-/2016 and was for 6 months. During the cycle in which I made the - promotional purchase, I also made a second payment to my account that cycle. I had already fully satisfied my $25.00 minimum due for the cycle due -/-/2016 with a payment of $29.00 on -/-/2016. Prior to my statement cycling, I made an additional promotional purchase ( # 2 ) on -/-/16. This was still within the same cycle ( my cycle closed -/-/16 ). On -/-/16, 1 day prior to cycle, I made another payment of $50.00. This payment was entirely " in excess '' of the minimum. Synchrony applied that


again. She indicated that this only happens when you make an excess payment in the same cycle that you took a promotion at a shorter timeframe than the existing promotion on the account. My issue is that not all consumers are Vice Presidents of credit card companies like I am, and do not understand that this is an Unfair and Deceptive Act/Practice. There are no disclosures in the issuer 's Payment Allocation statement that reference promotional purchases, and given that this specific product 's primary use is by customers who are making interest deferred promotions, this should be succinctly called out. The requirement deals with the interest rate in play, because the purpose is for customers making more than full payments to be able to repay the debt in a shorter timeframe with lesser interest charges. By not requiring the issuer who offers mainly 0 % deferred interest periods to not also disclose to the consumer how the allocation of excess amounts will apply when promotions of differing lengths apply, the consumer is unable to understand fully how to pay the account to accomplish the goal of " 0 '' interest if paid within the required timeframes. Please contact me directly with any questions - - - Sr Product Manager, - Vice President, - - - -