About Synchrony Financial
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Synchrony Bank is a great bank! They make things so easy to do all my credit needs online. If I ever have a problem or a question and I call in, the wait time to speak to somebody is never very long and the employees are always happy to help. The app is easy to navigate and I always know where I am in regards to my loans and payments. I’ve only been with Synchrony for about a year and a half and I wished I’ve been with him much longer than that! I refer all my family and friends to send Craig and that says how much I like them!
I am pleased to have multiple accounts with Synchrony which makes it helpful when transacting with one specific account (i.e. Amazon). To establish credit was extremely easy and making payments is as well. To date I have not had an issue with any of my Synchrony accounts and recommend this institution to others.
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The rewards are the highlight of this credit card. I like that it can be used for groceries, gas, food, etc in addition to healthcare. The APR is quite high at 21% but I pay for purchases made each month instead of using my debit card and get cash back or gift cards as a bonus.
My experience with this credit card has been...decent. For the first 5 months they were great, but then Covid-19 happened. I am a full time student, so I have dedicated all my time to my studies, so the breadwinner in our home is my husband. When the employees at my husband's job started playing hot potato with the virus, the company closed down for a whole month and laid everyone off during this time. My husband didn't get a check that whole time and when my credit card bill came due, do you think the company understood why I couldn't pay my bill by the due date? HECK NO! If I was you, I wouldn't go near this company.
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.
Made a purchase the end of 2020. From the very beginning I was charged over and incorrectly for my purchase. After multiple attempts to correct they again had a balance that was lower than it was supposed to be. Began the arduous task of getting this rectified. The whole time my balance fluctuated by hundreds of dollars every month as if the account was being used. The 4th and final time contacting them after waiting an hour and 10 min for a customer service rep she was not able to answer my questions and disconnected the call. My Synchrony app says all my accounts are non serviceable and I can not get any help. For your sanity sake do not deal with this company for anything. This is not an isolated incident. I seen many reports of terrible accounting issues and awful to non-existent customer service. This company needs to be held accountable for the mismanagement of people's finances and potential credit scores that could be affected.
We have had this Synchrony Account since June 2017. Most of this time things went smooth, however when trying to resolve an Auto Pay double dip into our bank account for our payment, the procedure to get a human on the phone was insanely disrespectful, inconsiderate and absolutely nerve racking. The Corporate leaders of this company have no consideration for the time, effort and energy it takes in the world we live in to stay on an automated twisted conundrum of a phone call just to accomplish 1 goal. Then to have a human finally answer the other end of the line just to read off a script and only give robotic answers as if they have no authority whatsoever to make any decisions. Quite controlling, don't you think?
Corporate America at it's best... control one's thoughts, actions & outcomes for the "Almighty Bottom Line Profit!" Next, just to tell a customer who has good credit, and long standing account records with no missed payments, no late payments that they have the option to close their account and do nothing to resolve the issue at hand. The robot that we spoke to on the phone claimed that it was a recorded call, I hope this is true, because that is what subpoenas are for, right? End Result: We closed our account. Waiting for a "Check" to be issued for the double dip payment they took out of our account. We stopped payment on the ACH/Autopay, now they can wait on our "Check" to come in the mail. It never pays to fleece your source of income. It will backfire on you. Shame on Synchrony & other banks like them. Treat your customer right & they will be loyal to your honesty, kindness & fairness.
After so many years with Synchrony Bank and having 5 credit cards with them without missing any payment, Synchrony Bank decided to close all my accounts without a valid reason, they only say that I am high risk, I do not understand why if I have good credit And I have never failed any payment, I just started using my credit card because I recently bought a house and I need things for my new home, what is the point of having a credit card if you cannot use it, This is totally absurd.
The worst thing is that they do not notify you to take precautions and take care of your accounts and prevent them from being closed. I used to believe that Synchrony Bank was a responsible bank but it proved not to be, it is a bank that simply does not take care of its clients and after so many years paying interest and taking care of my accounts they decide to close it without good reason. I am not the only one who is presenting this problem, many people are suffering from all this situation, only God knows how all this will affect my credit score, which I have taken care of all my life.
Never a late payment, plenty of credit availability, some cards with zero balance. They automatically closed 5 of my credit cards, ones I have had for years, stating "high risk of failure to pay". One of the cards was about to be used for recently installed carpet. Why do this? I called the evil empire called Synchrony, they said they ran a risk analysis and due to recent credit usage (getting home ready to sell) they closed the accounts. That is a far cry from "high risk of failure to pay", from someone who has never missed a payment. I asked for them to provide to me the detailed risk analysis report they performed. I was told it would have to be subpoena by an attorney.. What? When I open new cards after I sell our home, I will make sure they are not governed by Synchrony.
Where can I find a Zero star or negative Star button. No wonder there are so many 1 star reviews on this bank. I just came back from Ashley Furniture store where we applied for a finance through Synchrony. I have 800+ credit, they approved my application on the phone, but told the store guy that I cannot use it immediately and have to wait for the physical card. When asked for the reason, their team, including their managers I escalated the call to just have to say "Sir, it's for security".
After probing with an argumentative tone, they told it because their system couldn't authenticate a text message. Instead of a text message, I got a call and gave them the One time code over the phone, but for some reason they couldn't take that info. I asked them to cancel the account right there and they are like, "You have to wait for the card to cancel it." I feel cheated for doing my credit check and insulted for not allowing to use the card for the purchase, even after offering them to ask any security questions they want. They are robots working with dumb rules. Never buy stuff from stores, who work with this bank.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)
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