Synchrony Financial Credit Card Complaint

Synchrony Financial Credit card department,

Payoff process New Jersey

I opened a Lowes 0 % credit card because I was doing renovation on my home. I wanted to make large purchases and have an opportunity to take advantage of their 0 % for 6 months offer, as I would be getting several large checks to pay them off. This is the payoff scenario : Purchase Date/Purchase Amount/Balance Left/Exp date of 0 % interest -/-/- / $620.00 / $41.00 / - -, - -/-/- / $340.00 / $37.00 / - -, - -/-/- / $740.00 / $720.00 / - -, - -/-/- / $3700.00 / $3400.00 / - -, - I made a payment of $770.00, which should have wiped out the first - payments, left the - balance with $32.00, and the last balance as is. Instead, they spread out my payment ( see below ), and did NOT pay off the soonest expiration date item, and applied a portion of the payment to a balance that isnt even due for 17 months!


- requires that credit card companies must apply your entire payment, minus the required minimum payment amount, to the highest interest rate balance on your card. That requirement took effect - -, -. I 'd have to assume this would also apply to expiring promotional rate payment allocation. I called and complained to Lowes customer service and they reversed the payments and reallocted how the payment is to be paid off. I did see a " footnote '' in their statement, that they will apply payment how they see fit and if the consumer wants to reallocate the payment in a different way, it 's the responsibility of the consumer to read and understand the fine print and call THEM to tell them how to allocate payment. This is deceptive. This credit card company was allocating my payment in THEIR best interest, not mine.