Creditor continues charging interest after promising account closure via settlement
After a prior CFPB complaint led to a promised settlement to close an overcharged-interest account, the creditor allegedly continued assessing interest and late fees, harming the customer's credit. Single-account broken-settlement dispute.
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Similar Problems
surfaced semanticallySynchrony Financial charges excessive interest rates on credit accounts
Synchrony Financial customers report being charged excessive interest rates that were not clearly communicated at account opening. This structural pattern of predatory interest rate practices disproportionately affects subprime credit holders who have fewer alternatives.
Card issuers close accounts of customers who pay in full, avoiding interest
Customers who consistently pay their credit card balance in full and never carry interest report having their accounts closed, with some describing pressure from support staff to carry a balance instead. This suggests issuers may selectively cull profitable-to-acquire but unprofitable-to-retain customers without clear policy disclosure.
Credit card issuers raising rates unexpectedly on unused accounts
Synchrony and similar store-branded card issuers apply unexpected interest rate increases and fees even on accounts that have not been used and show zero balance after payment. Cardholders receive no advance explanation or actionable recourse. This is a structural pattern in subprime and retail credit that erodes consumer trust.
Store card account closed without warning after corrected payment behavior
Synchrony closed a store card account without notice after a history of returned payments, even after subsequent successful payments demonstrated correction. The final $200 payment posted but the account was still closed. No grace period or warning system preceded the closure.
Deferred Interest Financing Retroactively Charges Full Interest When Balance Not Cleared
Synchrony and other retailers offer "no interest if paid in full" promotions that retroactively apply interest to the entire original balance if any amount remains unpaid at the deadline. Consumers consistently confuse this product with 0% APR financing, resulting in large unexpected charges.
Problem descriptions, scores, analysis, and solution blueprints may be updated as new community data becomes available.