Synchrony Financial Credit Card Complaint

Synchrony Financial Credit card department,

Payoff process Virginia

I decided to accept a " 0 % interest for 18 months '' promotional offer from a retailer for $2700.00 worth of new carpet for my home. The financing was through a new credit card from Synchrony Bank. When the first bill came, I set up automatic online payments, but miscalculated the monthly payment necessary to pay off the full amount in 18 months ( $98.00 vs. $150.00 ). After 19 months I received a call from Synchrony that my payment was late, and that 's when I noticed the error. I paid the remaining principle immediately, but now have to pay $1200.00 in deferred interest ( 29.99 % APR ). I realize this is my mistake for making monthly payments less than that required to satisfy the promotion terms. I did a little research and found that this happens to about - in - people who sign up for these deals. I feel the whole practice of offering a program designed to slam the 20 % of people that get tripped up is predatory and slimy. I also found out that Synchrony bank ( formerly GE Capital ) is - of the largest banks offering credit on behalf of retailers selling big-ticket items like carpet and appliances. It 's a multi-billion dollar business for them. I called Synchrony and talked to - different customer service agents, offering to pay the 30 % APR for the two months since the promotion period ended, but received no consideration. I was told that since I accepted the initial agreement, I should have known the consequences. I feel like a fool for even falling for such a risky proposition. I just hope others will learn from my mistake and avoid Synchrony bank offers for exorbitant " deferred '' interest rates which are effectively land mines hoping to catch consumers off guard.