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Synchrony Financial
Overall Satisfaction Rating
3.09/5
  • 5 stars
    145
  • 4 stars
    168
  • 3 stars
    146
  • 2 stars
    50
  • 1 stars
    202
Based on 711 ratings submitted in the last year
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Synchrony Financial

formerly GE CareCredit

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835 Synchrony Financial Consumer Reviews

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Page 1 Reviews 1 - 10
Rated with 5 stars
Verified Reviewer
Original review: Aug. 28, 2019

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!

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Rated with 5 stars
Verified Reviewer
Original review: Aug. 1, 2019

I have several CD's with Synchrony Bank and a high interest savings account. Opening the accounts was very easy and the interest rates are very high for the times we are living in. Getting phone assistance has been very easy, without long hold times and help has been available whenever I needed help. I highly recommend Synchrony Bank.

2 people found this review helpful
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Rated with 5 stars
Verified Reviewer
Original review: July 29, 2019

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.

3 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: May 16, 2019

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..

10 people found this review helpful
Rated with 4 stars
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Verified Reviewer
Original review: May 16, 2019

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.

Danielle

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7 people found this review helpful
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Rated with 2 stars
profile pic of the author
Verified Reviewer
Original review: Sept. 15, 2019

Every time I try to log in, regardless of day or time, they claim system errors. I can understand that they don't have phone service 24/7, but we should be able to do business on the Internet 24/7. This is the 21st C! Very dissatisfied.

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Rated with 1 star
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Verified Reviewer
Original review: Sept. 11, 2019

I came to this site after searching for all credit cards own by Synchrony Bank. After discovering I had a several departments store cards that sold out to Synchrony Bank and since then I have had a awful experience and my credit score has dropped drastically due to Synchrony unfair practices of closing accounts after it’s been paid off and years of having credit in good standards and lowering credit limits to look like you are spending more and close to your credit limits. When you contact customer service they obviously do not have the the same system bec no one see what the prior rep did. And there are several different Synchrony numbers and not sure which to use. My credit has dropped since Synchrony got involved. And my experience is negative like most of the comments on here. I had, Toys R Us, TJ Maxx, Walmart, PayPal, Value City, Luxury Card in which fraud was involved with this card and Synchrony would not do nothing about it.

I paid it off and of course they closed the account after. But would not explain the identity theft. Also I’m not sure if Comenity Capital Bank perhaps maybe a subsidiary of Synchrony or not but my PayPal account was originally through Mill me Later Comenity Capital Bank and now it’s Synchrony. Be aware when apply for store cards or financial services if it’s through Synchrony. You will have bad credit and in debt with their late payment and high interest rate, drop credit limits and close out accounts practices to impact your credit score.

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Rated with 3 stars
Verified Reviewer
Original review: Sept. 10, 2019

This is a warning to potential customers, this bank holds funds and does not release for up to 10 days. They say it's to make sure funds clear. Have had this account for over 2 years, and every, I mean every payment is held for 10 days. Bogus excuses, waiting to make sure funds clear, new account, they used every excuse to justify them holding funds and not making them available. Payments made by direct debit from my bank account, they have funds immediately. Can't believe they are able to get away with this practice.

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Rated with 2 stars
Verified Reviewer
Original review: Sept. 8, 2019

I accept responsibility for a late payment. I don't agree with harassment at all but especially on the weekends! My payment was sent 5 days ago albeit 6 days late. I honestly forgot. Next to last payment. Can't wait to see what the new balance will be. I refuse to use this card again.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 5, 2019

I had just moved my entire (substantial) savings account balance from another savings bank to Synchrony, except for a small residual amount of about $40. I had notified the losing bank of my intent to close the account and given its representative clear and specific instructions: 1. I would initiate the transfer of the residual balance in my account to Synchrony. 2. All the losing bank was to do is to deposit any remaining accrued interest to my checking account with a third-party institution. Having done that, I immediately initiated the transfer to my Synchrony Bank savings account of the residual balance in my account at the losing bank, as I had discussed with that bank's representative. Yet, contrary to my specific instructions, that representative deposited the entire balance in my account plus a few cents of accrued interest in my checking account with the third-party bank, reducing the balance in my savings account with the losing bank to zero.

On the following day, upon discovery of what had happened, I immediately called Synchrony Bank and explained that the losing bank had ignored my specific instructions and requested that the funds transfer request of some $40 to my Synchrony account, which I had initiated from that account, be canceled. The Synchrony Bank rep seemed baffled and stated that there was nothing he could do to cancel the request since it had already been initiated. Soon thereafter, I received an e-mail from Synchrony Bank notifying me that the funds transfer had failed and that "therefore" my ability to transfer money to and from the account had been suspended. I was furious and immediately called Synchrony Bank again and demanded to speak to a manager. When one finally did come online, I again explained what had happened. He said there was nothing he could do since the suspension was "system-generated."

I then gave him an ultimatum. Lift the suspension immediately, or lose my large account. He responded in a dismissive, haughty, "bring-it-on" manner. I fired off one more e-mail to Synchrony Bank repeating my ultimatum and waited until the end of the day. When nothing had happened, I initiated a funds transfer to another savings bank to begin the process of closing my Synchrony Bank savings account. The next day, I received an e-mail from Synchrony Bank that the suspension of my ability to transfer funds had been lifted. No explanation, no apology, just a "system-generated" e-mail.

Needless to say, my account with Synchrony Bank is now closed because I refuse to deal with an institution that allows robots to make automated decisions on customer-sensitive issues and fails to act promptly when those robot decisions are clearly irrational, unjustified, unfair, demeaning, and insulting to customers. That is the price Synchrony Bank paid in this case for being not customer-focused, but customer-insensitive and averse.

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2 people found this review helpful
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Synchrony Financial Company Information

Company Name:
Synchrony Financial (formerly GE CareCredit)
Website:
www.synchronyfinancial.com
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