Should I file a CFPB complaint?

[willwar14]

Well I made a post on how synchrony locked my accounts, and requested I fill out their form and send it back, which I declined to do. The only thing I want from these mofos is the $180 I had in cash back on my sams card, which they claim is lost since I closed the accounts, but I wouldn't of closed it if they didn't force me to, am I going to try and fight a loosing battle?

[Anonymous]

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@willwar14 wrote:

Well I made a post on how synchrony locked my accounts, and requested I fill out their form and send it back, which I declined to do. The only thing I want from these mofos is the $180 I had in cash back on my sams card, which they claim is lost since I closed the accounts, but I wouldn't of closed it if they didn't force me to, am I going to try and fight a loosing battle?

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It might be worth the effort but I would refrain from using statements like 'they forced you to close the accounts'. No they didn't.  You chose to do that because you didn't want to submit income verification that they are entitled to ask for.  I'm not disagreeing with your decision to not submit the forms bcause of privacy issues but if you file a compliant I wouldn't go too far astray.  Curious though.  Why didn't you redeem the cash back before you closed the account?  Or was that not an option once they locked them?

[kdm31091]

The thing is that you chose not to send the documentation, which is fine, it's your choice -- but they're within their rights to ask for it. Because of this, a complaint probably will not do you any good.

As far as the rewards, there are basically no consumer protections with that. Every reward program has language to the effect of "rewards are not your property, have no value until redeemed" and such. I am sure the Sam's card mentions that if you close the account (either you, or Synch) the rewards are lost.

[Anonymous]

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@kdm31091 wrote:

The thing is that you chose not to send the documentation, which is fine, it's your choice -- but they're within their rights to ask for it. Because of this, a complaint probably will not do you any good.

As far as the rewards, there are basically no consumer protections with that. Every reward program has language to the effect of "rewards are not your property, have no value until redeemed" and such.

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This is true about rewards wording but quite a few people have been able to get rewards back from closed accounts by filing a CFPB complaint.  Doesn't require much effort so I'd say it's worth it.

[willwar14]

Because they told me they send them in check form once a year, and you can't redeem them. Was I fed false info?

[Anonymous]

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@willwar14 wrote:

Because they told me they send them in check form once a year, and you can't redeem them. Was I fed false info?

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Don't know as I don't have the card but that entirely is possible-checks being mailed out once a year

[baller4life]

Yep once a year redemption for Sam's MC.

[kdm31091]

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@willwar14 wrote:

Because they told me they send them in check form once a year, and you can't redeem them. Was I fed false info?

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No, that is correct information. You only get the Sam's rewards once a year, so the company can easily claim you didn't technically earn the rewards yet and thus not give them to you.

Not to say it's not worth a try if you want but I would keep my expectations low.

[CJ7]

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@kdm31091 wrote:

... but they're within their rights to ask for it.

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I haven't read the fine print in the agreement, but logic would dictate that it includes wording that they have the right

to close your account if you fail to provide income verification.  But the real question here is, do they have the right to

demand that you also agree to having that information submitted to third parties?  I would think not!

[Anonymous]

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@CJ7 wrote:

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@kdm31091 wrote:

... but they're within their rights to ask for it.

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I haven't read the fine print in the agreement, but logic would dictate that it includes wording that they have the right

to close your account if you fail to provide income verification.  But the real question here is, do they have the right to

demand that you also agree to having that information submitted to third parties?  I would think not!

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Well you would be incorrect.  They can ask you for anything they want and can close your accounts for any reason whatsoever.