Migliaccio & Rathod LLP is investigating a “0% interest” promotion offered by Guitar Center and Sweetwater through Synchrony Bank-issued store credit cards. Consumers report being charged retroactive interest and fees while believing they were participating in non-interest financing.
Reported Issues:
Consumers report:
- A lack of clear disclosure regarding deferred-interest policies
- Payments being misapplied to non-promotional balances resulting in accrued interest
- Being charged large sums of retroactive interest and fees
- Issues accessing their account that made it difficult to determine their payoff amount and correctly pay off balances
Why Consumers Should Be Concerned:
Potential claims include:
- Economic loss
- Deceptive marketing
Signs You May Be Affected:
- You acquired a Sweetwater or Guitar Center store credit card credit card issued by Synchrony Bank as part of their “0% interest” promotion
- You experienced unexpected fees or interest charges
- Your online account made it difficult to determine the correct payoff amount before the promotion ended
- Your payments were applied to non-promotional balances, resulting in your interest balance remaining and accumulating interest
If you have encountered this issue, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520