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I have been doing business with Synchrony Bank for several years and have had nothing but the best experience with them. I'm disabled and have 3 different cards with synchrony. I love that I can make several payments a month keeping my balance down and pay my full at the end of every month, what I still owe so no interest and using the automated system to pay using my debit card is so easy, fast and free. My payment is always added to my account as soon as I make the payment, same day. I don't have a bank account but from what I have learned it takes the payment longer to be received and added to your account when using a check, money order.
People should get a prepaid debit card to make their payments because it's so much easier, faster for your payment to hit your account and like I said the payment is added right then during the call through the automated system. I use my Amazon prime rewards card a lot because the rewards are great,5% cashback and I get a lot of my family, pet needs at Amazon. Especially since I pay full balance every month there is never any interest to pay. So I usually have $40 to $50 in rewards every month and that's great. I only have 4 credit cards and that's plenty to help my credit score which is in the low 700. I don't have anything bad on my report but I do, have used too much of my credit line which will affect your credit score sometimes if you don't keep your credit utilization below 30%.
Also I don't think a lot of people understand that when they have several different credit cards that each card reports at different times of the month and so everything you owe on each card every time one is reported to the credit bureaus all of your cards usages is reported, recorded on your credit report, credit utilization. So you really have to pay attention to your credit utilization since your credit usage is being reported a few times during a one month period. Some people probably think like I use to that all credit card companies report at the same time once a month. They don't. Understanding when each of your credit cards are reported will help you a lot to keep your credit utilization down by keeping your balance down before each report. I hope I explained this good enough so people can understand. I wish I knew at first but now I do. I don't understand some of the bad reviews.
But some looks like people just don't know how to use their card responsibly or may have too many cards, too much debt, credit utilization being high more than 30%. I don't know. I just know Synchrony Bank has been good to me and I've never had a problem with them. I have contacted customer service a few times to ask a question and have always been treated very good by the representative I talked to. I have nothing but good things to say about Synchrony Bank.
Received an alert from Experian that my Synchrony Pep Boys card was cancelled. Haven’t missed a payment and always paid much more than minimum. Hardly used the card and don’t understand why it was cancelled. I’ve had the card for a few years. Called and was told I’d receive a letter in the mail explaining. I guess not Synchrony noticed that I was paying large payments to pay it off and not using it so I was of no value to them anymore.
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I started by using the Care Credit card for my medical bills because I needed something to help with medical bills I had incurred. I was afraid that the bad reviews but noticed they were usually by people who didn't grasp how to use them properly. I took the initial hit, you always get, when you first open the account. I paid off the account quickly and was able to pay off the account except for $300 without having to pay any interest. I was so impressed that I then opened a Care Credit account with them. I bought some very needed tires for my car and had it serviced. Same deal here, initial credit hit when I opened the account. One more payment this month and I will have gotten all my services without interest. Just so anyone reading this understands, no I did not make minimum payments. I always paid much more. If my payment was $39 a month, I paid $100. Both of these accounts have made a great impact on my credit report!
Listen, I realize that the nation is in a free fall right now and the situation is very scary for so many people that are financially being hit so hard. I include myself in that category of people. Anytime a creditor works with you on payments, is a true blessing. And I am blessed that this company understands my pain and anxiety about being able to make a monthly payment right now. You should expect this kind of treatment from a business that you have maintained a good payment history and a solid relationship with; and they came through 100% in my time of need. Thank you Synchrony, You rock!
I had the misfortune of getting involved with Synchrony bank as they were partnered as a website's credit card provider. After "taking advantage" of a 1 year no interest offer earlier to purchase a computer for school the nightmare started. Month one I found out the auto enrolled me in a program that was adding an additional $80 every month as an "insurance policy" in case I was injured and couldn't make payments! Not only that but this charge itself wasn't qualified for my no interest promotion and thus immediately begun to accrue interest. It took 7 emails and over 4 hours on the phone to get this taken off.
Still every month I overpaid my bill to the point that I was easily going to have it paid off in 9-10 months no interest no problem. Beginning month four right when my payments were starting to make a dent into the % of used credit this account was bearing they decided to for no reason lower my credit limit to $10 over my current balance!! YUP you guessed it. Tight back at 99% account credit usage and a nice dip to the 'ol credit rating for an account that has nothing but perfect payments. To this there was and still is no real answer aside that Synchrony can do whatever it wants when it wants to its customers, and they will because who cares right? Not them! I tried fighting for days and days but they don't care and will eventually just stop responding.
I guess it shouldn't surprise you that come month 8, after nothing but continued perfect payments they lowered my maximum credit to $20 over my current balance again... Right back at 99% used credit on an account that had basically 10% of the initial credit/balance. Just a prime example of trash bank that will do nothing but try to screw you at every turn even if you are an impeccable customer. After paying off this card my credit was 15 points lower than when I opened it and it has nothing but perfect payments. Why would ANYONE do business with such a garbage company? I honestly avoid websites who partner with Synchrony at this point simply because it shows their own lack of judgement/care for customers.
When I had to put my 16 year old dog down a couple of days before Christmas, I was excited to hear about Care Credit. They would provide me financing and it would be interest free for 90 days (may have been 6 months). How awesome is that? What I'm sure it tells you in the paperwork, which I didn't read through my tears, was that they do charge a late fee, no matter how late, of $28. I would have preferred to pay interest the whole time. But I guess that means they wouldn't get as much money. Greed disguised as compassion. They should be ashamed of themselves.
Moral of the story: 100% on time payments over 3 years, doubled my annual income, same or better credit score from the time I applied for the card, still ended up working against me somehow with Sychrony. I have a Synchrony Credit card with Guitar Center. I make more money than I did when I applied, have made 3 years of on time payments, never late. I got a notification saying my credit limit was changed. I called to see how much it went up by and found out they actually lowered it from 1,100 to 400! I've been making payments to get below the 30% usage and also to increase available credit for a big holiday purchase. That is now out the window as they cut my credit limit significantly. I was almost below the 30% usage and now I'm all the way back up to 80% because of this. I was waiting on my replacement card to ask for an increase, but it went the other direction before I even inquired about an increase.
Customer service sounds like you're on a speaker phone with the speaker very far away - they don't speak much English and have you jump through hoops just to pull up your account: verification code is recited over the phone with no explanation (was I supposed to write it down?), they want your name and address, then spell your name and address, then transfer you to someone else who is in a different department (why, I don't know) who again asks for your name and address, says they need a verification code, blah blah blah. Every other bank is either automated, or the agent looks up the phone number you are calling from and has your info right there. At a minimum they might ask for the account number and then a security word, but not Synchrony Bank. Ten minutes later, and they are still asking for a verification code and my address!
I loved getting the GAP/Athleta rewards on this card, but I have had real difficulty getting credited back on my account for items I have returned on the card. Which is why I called. Zappos says I returned the items, I have tracking that shows they got my return and also an email from Zappos saying refund has been processed. I even got a Synchrony alert saying "a credit has posted on your account"; but when I look online at the account, there's no credit - for this charge or another that was returned to a different vendor. It makes me wonder if they purposely hold onto your money through the billing cycle so you will pay the whole balance including the refunds you are waiting for, OR that they will be able to charge you interest and finance charges on a higher balance that doesn't reflect the returns.
The "chat" agent is virtual, until you complain that "Sydney" didn't answer your question. Then, a "live" agent will come on the line who isn't much better. She wanted the order date, amount, and UPS tracking number to show I had actually returned the items. I told her, "Zappos says they got it, your return has been processed, etc. so this isn't a Zappos problem, but a Synchrony Bank problem." It had already been ten days since Zappos said the credit came through so they should have had it, but they didn't. So, I gave her all the info and she "disputed" the original charge which would be resolved, she said, in up to 60 business days. When she didn't really answer my other question, Alex W. the chat person abruptly ended the call - just clicked off - and I was left with no answer.
When I tried to fill out the survey of my experience (it wasn't going to be a positive experience) a bunch of computer code came up as if someone had disabled that feature - I wonder why?! The dispute process if you have a problem is archaic; you can't dispute charges online, but have to fill out a paper form and fax (!) it to them! One charge, for gym membership charged after the gym closed due to Covid, is still on my account and has not been credited; most credit card companies will charge back the merchant and put it in suspense for you until it is resolved, but not Synchrony. They won't go to bat for you. It worries me if I end up with fraudulent activity on this card, so I am going to cancel it and get a card with a bigger, more reputable bank.
I have perfect payment history with my Care Credit Card that I use two times for small payments with a $950 credit limit. I got a letter in the mail saying based on creditworthiness they were closing my account. The managers that I spoke to at customer service for horrible to me and told me there was nothing I could do. I feel like this is a deliberate move due to so many people struggling with the coronavirus pandemic that they're just cutting any cards before they lose money. Now I actually need this card for something I'm having done in five days and if I reapply I may not get it. Even after having perfect credit history with them this is just wrong.
I've had similar issues with Cards I've held for merchants utilizing Synchrony. Seems that their periodic reviews lower credit limits, and now in this case CLOSED the account with no adverse behavior on my part. When I called them, their Customer Care stated that in my Terms & Conditions it says they evaluate accounts every 4 months and this last review gave them a scare so they closed the account (reviewing real estate balances (its a 30 year loan ^)^ that is current), Balances to limits on store cards, lots of cards, etc. Thing is, my credit score was the same then. Nothing has changed except that I'm paying this account down slowly just like every other card I have.
For them, this isn't enough apparently. With two other cards I've held by them (low limits - 3-700 bucks) every few months they'd lower the limit as I paid it down until I finally just closed one of them. Also, they automatically sign you up for their services which automatically adds 10-15 bucks to each billing to 'protect' me should I become sick or jobless. I've declined those services and one would wonder if that's the true reason - because, you know, interest isn't enough... Very frustrating - trying to pay down balances (so that it helps my credit) and they lower limits or cancel with no warning. If you're applying for a store card that use Synchrony - RUN.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)
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