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Yes, Synchrony has been great. They did take my Care credit card away (no Dentists would allow 1 or 2 treatments so it was too high for Care Credit) and I used my Credit card instead... It's high interest makes it hard to get it down. That's all true, However; Synchrony has been very good with me and me credit score is Great because of them too. If not for the Synchrony, things would of been so much harder for me, going without is also hard and more expensive often times when you can't fix your car without the cash, you know, things like that... I'm thankful and appreciative.
I recently got a Synchrony Mastercard through Sam’s Club. I made my first payment less than a day late. I was charged a late fee but called the customer service phone number and I was automatically refunded a one time courtesy late fee. That made my day and I didn’t even have to talk to a representative!! Synchrony has awesome technology and automated phone system!
I have looked for savings that would earn money rather than just having my money sitting in my savings. Synchrony gives an interest rate of 2.127 % and an annual yield % of 2.15 %. I just put in some money to check them out and see how the process went. So far no issues and confirmations sent thru the process. It is done online and I have not spoke to anyone yet. I will put more in after the first month if all goes well. Money is back by FIAC. Hope this helps.
I can't believe it but I made a mistake and didn't pay off my 0 APR card by one day and was hit with the entire deferred interest amount. I immediately got upset and went into the "credit cards greed" mode and started masterminding how I was going to get out of this. I then read all the reviews and saw that I probably had an uphill battle. After all, the rules are the rules and I made the mistake. I decided to try the online chat to ask if they could help me out and was connected to a wonderful agent (in India by the way) and simply stated that I paid off the card a day late and wondered if they could help me out with the deferred interest. To my amazement the interest was waived. I couldn't believe it. So, it is possible to have someone overseas give you great service and help you fix the problem, THAT WAS MY FAULT TO BEGIN WITH. Thanks Synchrony. You have a customer for life..
I have a number of young Synchrony accounts. Around 6, I have a young credit file, that is considered thin in history. However while most started with just small starting limits of around $200.00 to $400.00, over a 9 month period they have increased my limits from $200.00 on one card to $1k, another from $200.00 to $3k, another from $500.00 to $5k, another from $700.00 to $2k, one is still at $700.00, while the last one went from $400.00 to $800.00.
Only account that was a bit hinky I suppose was my $700.00 Mastercard, for some reason it was frozen after I made the first purchase of just $56.00 and paid it off within two days. It was locked from any purchases for about 4 months, then suddenly the block was removed and I was allowed to make purchases. I suppose it is a security thing, example they locked the open loop card, since I did carry higher balances on open looped cards that I also have. Maybe to watch my spending habits, and payment? Either way maybe they saw I was able to handle those accounts, and unlocked it so they could get some of the spending. However I am cautious on using that account too much.
Maybe will wait until I pay down the other major credit lines, and use that one specifically, mostly because I think it has the best rewards. At this moment I have no complaints in regards to Synchrony bank, nor their practices. I know if you pay before a billing statement posts, you're not making payment on time. As a matter of fact many creditors now limit how often you can make multiple payments. So paying early doesn't really do anything other than make you lose track of when your due date comes around.
If you make an early payment, you may as well assume you'll still be obligated to make the min payment after a billing statement. The only time paying early will help you is if you pay the entire balance in full, so as long as it's the grace period. If it's a balance remaining prior to the most recent billing statement, there will most likely be an extra balance owed via interest. Just because one pays the balance doesn't mean it isn't accruing interest payments prior to the statement period.
I think many posters don't understand the concept of how credit works, and more importantly of how interest is applied. If a statement posts, and one misses the due date and a late payment fee is assessed, and let's say min payment is $27.00, but being late there's a $25.00 late fee. And a payment is made, the first thing balanced is the late fee, so the first $25.00 of the $27.00 payment is applied to the late fee, leaving the actual min due of $27.00 reduced only by $2.00, thus often leaving a payment less than the min payment on the balance, that can accrue another late fee. In addition to the the remaining $25.00 due, so the second month making another payment will only apply the first $25.00 to the remaining balance, but still not making the min payment. Nor any other late payment fee.
Thing to understand here is the logic behind how payments are applied as it's based on the particular situation in that moment in time. Assuming something is speculation, understanding how something works is educational. After all the starting balances always are a given grace period, unless otherwise stated. Some of the comments on here are a bit confusing, seem's a lot of in between information is missing? While others I understand are by cause and effect of a debtor.
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Customer service people can't tell you the difference between interest and fees. I've got $40 worth of "fees" on my card so far this year, without ever having been late, and they can't tell me why! They keep trying to convince me that fees and interest are the same thing!!
They refuse to give a receipt if paid in full. You have to beg then they tell you to call back in 21 days. I need my receipt now so I can show that I paid my bill to my parents that loaned me the money to pay it off. My bank statement doesn’t show I paid into Amazon so my parents don’t understand or know where the money went, which has cause a big fight with my family but what does Synchrony Bank care? They are a money making company that doesn’t care if families fight or lose everything. I don’t see why I should have to beg for a receipt. $4,144 and no receipt to show for it. Then they cannot email you any information. In a digital age they send you stuff by mail and you have to wait 7 days. After 21 days I can call and request a receipt. They will then decide if I can have one, then I have to wait another 7 days if I am approved for a receipt to get the letter in the mail.
I'm asking for the $271.36 owed back to me for the STARZ subscription. And four years statements to verify this amount.
While digging in to some budget issues, (After a long hospital stay), I realized I was being double charged for yearly membership fees, along with a app., I never ordered through the Amazon store card which is Synchrony Bank. I paid on time being a loyal customer for years, not realizing I was being ripped off. Amazon Prime refunded the fees. I was able to retrieve by check. Synchrony, however, has played cat and mouse, since Oct 8th, 2019, throwing the blame. They have stated they do owe me for many months, but come up with an excuse every time. The statements I ordered were to be sent within 14 days, which I've never received.
Now they claim they need another 30 days, acting like the amount refunded by Amazon Prime should be enough, and I'm just a dummy. It's not even Prime's responsibility. Synchrony will not take the responsibility when they are who charged me, and Prime had no idea, until I was able to link this account to them. I will never do any business with Synchrony ever again. That's my money and I could use it now that I'm disabled. The principle of this and for the way I've been treated, infuriates me. I plan on taking action in any way, shape or form to receive what's mine, and for the simple fact of Synchrony doing the right thing. I feel very taken advantage of with this situation.
My husband got a 36month, 3year interest free card. Used it at Sweetwater. At 2 year mark, interest charged. Didn't know. Late fee charged. Tried to call. Long wait. Put balance on Capital One card. They are honest. I paid over the monthly payments for the 2 years also. No credit for paying extra. Don't get this card.
I worked very hard to bring my credit as high as it was. Synchrony bank told me personally that selling my Walmart credit card to Capital One would NOT affect my credit and that was beyond wrong. My credit dropped 56 points because it showed “account closed” because I paid it off and they sold it to Capital One. Synchrony bank is trash.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)