Date Received: 2023-06-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: I would like to file a complaint regarding a recent experience with Synchrony Bank and XXXX regarding two failed XXXX transactions and the subsequent inability to retrieve the funds. Here is a summary of the events : On XX/XX/XXXX, my wife and I set up XXXX joint CD accounts with Synchrony Bank under my wife 's profile. We linked my XXXX savings account as the external account and initiated two ACH transactions, one for {$20000.00} and the other for {$30000.00}, to fund the CD accounts. However, on XX/XX/XXXX, we received emails from Synchrony Bank stating that both transactions had failed. We expected the funds to be returned to my XXXX savings account, but after several days, the funds had not been credited back. Upon contacting Synchrony Bank, we were informed that due to the CD accounts being under my wife 's profile, only she was authorized to make deposits into them. Therefore, my funds were rejected for deposit. Synchrony Bank attempted to return the funds, but their policy prevented them from doing so because I, as the sender, did not match the intended receivers ( my wife and me ). They advised me to contact XXXX to request an ACH return. I contacted XXXX and initiated a dispute. However, after their investigation, they found that the ACH transactions were successful and stated that they had no reason to request an ACH return. I relayed this information to Synchrony Bank, but they maintained that the only solution was for XXXX to request the ACH return. Despite multiple attempts to resolve the issue with both XXXX and Synchrony Bank, neither party has been able to provide a satisfactory resolution. This has left me in a frustrating situation where my funds are stuck between the two institutions, with neither taking responsibility or providing a viable solution. I am seeking assistance from the Consumer Financial Protection Bureau ( CFPB ) to help facilitate a resolution to this matter and ensure the return of my funds. Thank you for your attention to this complaint.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 170XX
Submitted Via: Web
Date Sent: 2023-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: Synchrony Bank for my XXXX XXXX Credit card. I set-up auto payments for my normal payments. In an attempt to pay off the promotional balance before the intrest was to be applied to the account, and to pay off. I would make additional separate payments from the auto payments. But Synchrony canceled my auto pay each time extra payments are made, and charged late fees to my account. Synchrony refused to credit all late fees.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OK
Zip: 73505
Submitted Via: Web
Date Sent: 2023-06-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: XXXX is not reporting the {$9800.00} credit line I have with my new PayPal Extras Mastercard ( which has gotten two replacements ) even though they say that the balance decreased. They're also not showing the {$10000.00} credit line I have with another XXXX 's card besided the one isted. Both of these cards had fraudulent activity and both have simply been replaced with new cards and account numbers. As a result my total available credit is nearly {$20000.00} less on the XXXX report than what it really is ( {$37000.00} versus {$57000.00} ) and my average credit age is about 7 months less on the report than what it really is ( 7 years 5 months versus 8 years ), as the PayPal Extras Mastercard account is nearly XXXX XXXX XXXX, and the XXXX 's account about XXXX XXXX XXXX. This is having an unfair adverse effect on my credit score, when I simply just had the card numbers replaced due to fraud.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11229
Submitted Via: Web
Date Sent: 2023-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: Synchrony Bank has received your request for a credit account with AMAZON STORECARD. To protect your identity, we checked credit bureau information and other data sources to verify information on your application. These databases may include, but are not limited to, public records, phone directories or social security databases. Additionally, our customer service agent might have asked you questions to verify your identity. Unfortunately, based on results of these checks, we are unable to confirm your identity with enough confidence to approve your application at this time. Some information used to make this decision was obtained from the consumer reporting agency ( agencies ) listed below. This consumer reporting agency ( agencies ) did not make this credit decision and is unable to provide you with the specific reason ( s ) for our action. If you believe there may be information on your credit bureau that is not correct, we suggest you contact the consumer reporting agency below to verify the information. If more than one agency is disclosed the reason ( s ) shown are based on the report provided by the first listed agency. I have decades of perfect credit. My credit score is in excess of XXXX! I believe it's age discrimination because as there is NO logic to their bogus reason of can't identify! Ridiculous
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 014XX
Submitted Via: Web
Date Sent: 2023-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: I had an interest free loan with Care Credit ( Synchrony Bank ) that expired on XX/XX/XXXX. I was current with payments. In order to avoid interest, I applied for and received an online credit card for a balance transfer card, with zero interest, for 21 months through my XXXX XXXX XXXX account. I have been their customer for 25 years. When filling out online transfer information I gave them my full account name and number for where the payoff would be sent. I also sent the next minimum payment to Synchrony to manage any possible processing time.But when the payment never showed up, I called XXXX XXXX XXXX and they told me several things unspoken before. 1 ) Is the payment would be sent to me to send yet again to Synchrony and NOT electronically. 2 ) That because I had applied online vs in person or by phone, It wouldn't be sent directly to creditor 3 ) That Synchrony bank never accepts electronic payments. They told me they would STOP PAYMENT on the check and I was to destroy it but they would send it directly. The check did not arrive until XX/XX/XXXX and I destroyed it. BUT Synchrony charged me {$2100.00} interest on XXXX!!! I paid that down with another balance transfer electronically. However, the second check sent directly to Synchrony for {$11000.00} was RETURNED as unaccepted to XXXX XXXX XXXXXXXX. I noticed unpaid funds after they posted then unposted! I called both banks! Synchrony would not allow me to make the {$11000.00} payment online but gave me a different address to overnight yet another check. It was supposed to be processed today but hasnt yet. WHO OWNS THIS PROBLEM? As a consumer how would I have known this convoluted process! Why did it cost me {$2100.00} to try to reduce my interest?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: 971XX
Submitted Via: Web
Date Sent: 2023-06-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: XXXX XXXX uses Synchrony Bank for credit services. On XXXX, I paid a {$140.00} payment. On XXXX the payment was cleared and accepted, but with a {$20.00} insufficient funds charge. If the {$140.00} payment was processed clear to Synchrony Bank, how is Synchrony Bank authorized a {$20.00} insufficient funds charge for funds paid? If I have overdraft protection from my personal bank that protects overdraft, any {$20.00} fee for insufficient funds would be a stated matter of my banks overdraft protection agreement, not a cash snatch from Synchrony Bank who in fact was sufficiently paid now with an unauthorized extra {$20.00}.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 46123
Submitted Via: Web
Date Sent: 2023-06-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-05
Issue: Getting a credit card
Subissue: Card opened as result of identity theft or fraud
Consumer Complaint: XX/XX/2023 and account was opened fraudently in my name with SYNCB/PAYPAL Bank . I contacted them on XX/XX/2023 and let them know it was fraudently opened without my consent. I them made a dispute with transition and put a freeze on all 3 credit bureaus.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: SC
Zip: 29483
Submitted Via: Web
Date Sent: 2023-07-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-03
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Made payment in full for Lowes credit card in person in XX/XX/XXXX. I believe cashier inputted wrong amount leaving XXXX dollar balance. Balance unknown to me until I applied for home loan and on XX/XX/XXXX was notified of major delinquency for a total of XXXX dollars that was tanking my credit score with such a minute unknown account balance. Called Lowes immediately and they said I cant pay balance as they closed the account. I have a perfect payment history on the rest of my credit report and this small account balance in error is killing my ability to obtain home loan for a newly constructed home in which I have already put down a large amount of non refundable earnest money.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: ID
Zip: 83616
Submitted Via: Web
Date Sent: 2023-06-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-03
Issue: Fees or interest
Subissue: Charged too much interest
Consumer Complaint: I am XXXX XXXX XXXX and I live on my social security benefit payment and I can not continue to make the monthly payments with the exorbitant interest rate of 30.74 % on my XXXX XXXX account with Synchrony Bank. I currently have {$49.00} per month automatically withdrawn from my account and the monthly interest is {$36.00} so I will never be able to pay off the balance of {$1300.00}. I have been paying this amount for many many years so the credit card company has made an incredible amount of money from my inability to lower the principal balance. This feels like financial elder abuse and I need help. On XX/XX/2023 I called the credit card company to ask if they would lower my interest rate so that more of my principle would go towards paying off the balance and they said they are unable to lower my rate. 30 % interest is ripping off the elderly. I told the credit card company that my only option was to stop making payments completely and have the account go into default, but I do not want to ruin my credit. I need an option to make interest free payments. These big banks are committing elder abuse. I need help since they are unwilling to allow me to continue to pay off my balance interest free.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2023-06-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-03
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: Due to unexpected expenses, we hit our limit on our credit card. So we submitted a payment early in order to be able to continue to use it. We did this on XX/XX/2023. The money was taken from our account on XX/XX/2023. When I called to determine why my card was still being decline on XX/XX/2023, I was told that my payment would not post until XX/XX/XXXX, a full calendar week after the balance was paid, and nine days after I initiated the payment. In our case, it is more of an inconvenience, but I can see that this policy could harm people that are paying interest on their balances. In a case like this, Synchrony would have the funds, but continue to charge interest due to an unexplained policy that gives them seven days to charge interest on a balance that no longer exists.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78746
Submitted Via: Web
Date Sent: 2023-06-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A