It is highly unfair that Synchrony Bank continues to raise the APR consistently on my account, over the span of 4 years, even though I have a good payment history. Recently, I discovered that they raised the interest four times in less than a year which makes it difficult to pay off the balance. Throughout the years, I had to escalate simple requests because their customer service reps would not follow through. Twice, I encountered issues with my promotional balances and my payments not being applied correctly. After 4 years of being a Walmart store credit card customer, I have decided to close my account to not be subjected to any further interest increases and pay off my balance accordingly.
I have filed a complaint with the BBB and the CFPB.
Their escalation specialist was unhelpful, apathetic, and rude. It is clear that they do not value their customers and will continue to raise their customers' interest rates without any justification, no matter if they have a good payment history or not. Last year I encountered several issues with this particular store credit card and it was only after I escalated my concerns to their CEO, that my concerns were actually addressed. In my opinion, their copy of my credit card agreement is vague especially pertaining to account closure. If you read it thoroughly as I have, the wording is confusing and no where does it state that if you close your account that you will still be subjected to increased interest rates. Their reps continue to state that it does when clearly it does not. I foresee a class settlement since they're shady and unethical. It is not a coincidence that many of their customers are dissatisfied with their customer service and many feel that Synchrony Financial should be investigated for their ridiculous interest increases. Furthermore, they actually lied in their rebuttal stating that I was requesting a 0% APR on my account which is ridiculous. As I consumer, I have every right to inquire about their unfounded interest hikes. As many customers have stated, they are a joke. I have no desire to speak to anyone from Synchrony Bank regarding this review.