Synchrony Financial Credit Card Complaint

Advertising and marketing

Synchrony Financial Credit card department,

Advertising and marketing Montana

This complaint has multiple parts : 1. Similar to CFPB Complaint ID-, Synchrony Bank recently " upgraded '' my account from PayPal Smart Connect to a PayPal Extras Mastercard. My old account with a long history has been marked as closed on my credit report and a new one has been opened which has hurt my credit score. 2. I made a purchase on - ( -/-/2016 ) where promotional financing was offered if I used PayPal Credit to pay for my purchase. The promotion stated that I would receive 6 months no interest financing with an APR of 19.99 % after the promotional period ( it now displays as 12 months no interest financing ). The purchase was made using PayPal Checkout and my line of credit with PayPal was chosen as the payment method. Upon receiving my statement dated -/-/2016, the purchase did not specify that it was subject to promotional financing terms. After contacting customer service on - -, 2016, the representative confirmed that my purchase was not subject to promotional financing. 3. Upon further inspection of the statement, I noticed that the Annual Percentage Rate listed on my statement is 27.24 % variable. After reviewing the terms and conditions for my account, I should be receiving an interest rate of 20.24 % APR or 24.24 % APR for standard purchases depending on my account type, which has not been disclosed to me. Furthermore, promotional purchases are listed as an option at the end of " SECTION - : RATES, FEES AND PAYMENT INFORMATION '' in the account agreement for the PayPal Extras MasterCard.

Synchrony Financial customer in Montana
Aug 20, 2016

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with explanation

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