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I have had an experience with Synchrony which is apparently not an isolated one. As others have noted, they reduced my limit without any notice. They cited a high balance to available credit as reason for the reduced credit limit. I tried to explain that as I was paying it down, sometimes twice a month to get it down to the 30% debt to credit ratio, that reducing the limit was moving the goalposts and making it very hard to establish good credit on this card.
They also cited that they ran a report through TransUnion to determine credit worthiness. However there has been no credit inquiries on my report for at least a year now (I just received a letter from them citing that they recently did this). I told them that while I do get my credit report regularly, that TransUnion was not at fault and that Synchrony was not accurate in their reporting as there has been no credit inquiries for quite some time. At any rate, I do believe a class action lawsuit for predatory practices wouldn't be a bad thing. It seems obvious in reading the reviews here that this is standard practice and they are able to operate without accountability.
I purchased a bed from mattress firm and was given 0% interest if paid within 1 year with a Synchrony credit card. I made all payments on time, and avoided paying any interest by paying the account off in full before the 0% finance period ended. In fact I had a negative balance after over paying. Without any notice synchrony closed my account.
It appears to me that because I avoided any interest synchrony decided to “punish” me by closing my account. I am still waiting for a refund for the amount I overpaid. Never had a late payment, over paid my account balance, and paid off balance in full to avoid interest and my thanks was to have synchrony coldly close my account without my permission. If I find that they misreport my payments as negative, I will seek legal advice. Beware. Funding through capital one is a much better option.
Their invoices can easily go to spam and if you elect to accept invoices via email, you can miss an invoice and they charge $35 for a late payment and will only reverse such costs once in a year. I paid the full balance and canceled the card as do not appreciate that abuse!!!
If I can give them zero stars I would. My father has had this account for over 3 years. Pays it off way before it’s due. Never late, never missed and they closed his account. This is where it gets interesting and I hope it helps people. They stated that the reason for the closure is because they run the credit every month and his score supposedly dropped. Yet they reported to the credit bureau that he called and closed his account. Mind you my father even has an American Express account in excellent standing so I ask them for the real reason and they couldn’t give me one. All you get is India speaking people that look for every excuse. When asked to speak to a Spanish rep I was told they could not accommodate that request. After looking at my dad's credit reports we have seen a hard inquiry every month for the past 3 years from this company. They are a scam!!
Would not recommend this card to anyone. One of their cards I had For a little over 2 years. Paid more every month than what was due on it and was never late. Thought I was building my credit. At approximately one year they cut my credit in half and currently I only owe $125 and they closed my account. I have never been late. And they have ruined my credit rating for now. The other card I have with them has a small amount on it and once again have never been late and pay more than is due. They dropped The credit limit on that card right after I received it. So I know it's only a matter of time before they close it so I need to pay it completely off. They are not worthy of being in business and would like to find others in a class action lawsuit against them. And I have never been in a lawsuit against anyone Before but something needs to be done about them. They are worthy of no stars.
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I’ve just found out recently about Synchrony bank, having the same issues as others on here. Saying I never made a payment, when I have proof from my bank. All of a sudden... oh yes I did, but they added a hefty interest fee! Won’t take it off. When I get my few cards paid off, I will no longer use them. It baffles my mind how many stores they have. Just check out the list. They certainly have a monopoly on the consumers! Beware to all. Check the list before opening a new credit card. I believe they own just about every single one in my wallet!
I have several store cards with Synchrony Financial and I always pay on time, no matter what. I had to use my credit cards more than what I like to but I paid them off a few months ago. As soon as I paid them off they started closing my accounts, dropping my credit score in a very significant way. They do this every year. I will never open another credit card that is offered by Synchrony Bank. They only care about the money they make on interests.
I have just been charged an interest amount of $1,124.00. A doctor's office asked if I wanted to open a Care Credit card which had no interest for 12 or 24 months. My choice. I said sure! The administrator applied for me online on her computer. I set up auto pay right away and paid $250.00 over the minimum for 12 months. I thought it was that time for me to pay anything over and when I went to my account I saw this charge and almost threw up. I spent over an hour on a live chat with someone overseas. The grammar gave it away. I explained this was never disclosed to me that if one day over the 12 months I would then be charged 29.99% for all of those 12 months! What crooks! What a scam! Shame on me that I didn't even know their interest rate is 29.99%! Isn't that against the law? Didn't Obama do something about the credit card price gouging? That's beside the point.
After over an hour they agreed to credit me $500 of the $1,124.00 they charged. Sorry, but that's not enough and I plan to fight this as far as I can. I want to expose this company as all of you have attempted to do here. What can we do, guys? Call our Congressman? Full disclosure was not made... period! I sell real estate and we can lose our license and have to pay huge fines if full disclosure isn't made during the entire process. They told me it was printed on each of my monthly statements. All I ever looked at is if my payments were being applied. Can anyone offer any advice about my particular dilemma? They said if I don't pay the remaining balance by May 20th the credit will be charged back. This interest charged more than doubled what I owed them. VULTURES!
I have had to use credit cards more than I like. I finally was able to pay several off. Soon as I did so Synchrony started closing my accounts. The excuse given was reports from the credit bureau, but I have no late payments, delinquencies or derogatory marks. They're just not getting their 26.99% interest any longer. This has now happened on 3 cards that I paid off. I now try my best not to do business with them, but they own most store cards. I have PayPal credit, which I pay in full each month. I am expecting that to be the next one they close, so I will beat them to it. Every time they close an account, my credit score takes a hit. Disgusting company and business practices.
I had a WalMart card through Synchrony with a $2000 limit and always paid on time. I made the mistake of running the balance up, but while still making my payments on time, paid as much off in a large sum as I could. As soon as I made that large payment, Synchrony lowered my limit, with no notice or reason given. I made a second large payment and Synchrony lowered my limit again, this time, to 200, and again with no notice or reason, which hurt my credit score. I closed the account and will finish paying it off, but I will never do business with Synchrony again. I have a card with Discover that I have paid in the same way and each large payment has resulted in a raise to my limit, not a decrease, so there is no excuse for Synchrony lowering my limits with a history of paying as agreed, on time, every month. Consumer beware. Synchrony's practices are, in my opinion, questionable at best.
Every month I make my payment before the due date. Last month my due date was April 28th and I paid all of my bills on April 1st period. I was informed that my next bill would not be due until May 28th period. Today is May 10th - I called to make my payment for May 28th and was informed that I have a double payment due because I was tantalized for a pain my April payment to early. My balance has not gone down and now they are charging me $220 a month payments and I have never once been late.
How do you pal eyes somebody for making a payment early? Why would they tell me my next payment would not be due till the end of May and when I paid it today they accepted my May payment but did not mention anything that I would be paralyzed. I am worried for my next payment because I believe that I will be paralyzed again. This company has the worst service I've ever encountered in my entire life. My dog needed emergency C surgery - that is the only reason I have this card and my payments are paid every month but my balance has not gone down. This company steals your money. They treat you horribly on the phone and told me they recorded me but when I told them I was be courting them as well I was told it was against the law. I want this card paid off caught up and I will never ever recommend this company to anybody.
This company is the worst company we have ever dealt with. We pay every month. If it is one day early they apply it to the month prior and give you a late late free. They play games with your money, it has been a nightmare. I am just sick over this. We have never missed a payment and have over $200.00 in late fees. We are disputing this. Call me if you have any questions please call me. Mike
I was approved for an At Home credit card. I have 3 other cards issued by Synchrony Bank. I was able to use my card exactly 3 times for purchases, nowhere near my credit limit. I called in 7 times, in one night, not to mention the prior 3 times I called earlier in the week, to verify my identity, I have all calls recorded. I have never been treated so disrespectfully in my life.
I even went through the verification online - uploaded a video of myself and took an image of the front and back of my driver's license. I received the verification code and called the number provided to give my verification code. The shortest period I was on hold was 12 minutes and 7 seconds, the longest time I held was 22 minutes and 4 seconds. Every time I called the night I had to go through so many steps to verify myself (7 calls in total in one night even after my being verified prior in the week) the representatives, two being in management positions (they said) were so incredibly rude to me that I canceled my card.
All of their customer representatives are overseas, and at times, it is difficult to understand their English. We are working to pay off all of our debt, and we wanted to keep only two out of our four credit cards. Discover is one that we are keeping because they are all Americans, and they have been wonderful to do business with. We have very good credit, and Synchrony wouldn't even negotiate lowering our interest rate down from 25 percent after being a customer for several years. We were able to get a card under 10 percent with discover.
All in all, every single dealing I have had with Synchrony has been terrible. When they notice that you are paying your debt, they will raise your limit to allow you to spend more to trap you with more debt. We will have this card paid off very soon, and I cannot wait. Hopefully they will not close my account right away once it is paid off like they did to others on here. We want to buy a used vehicle next year, and we are trying to get stellar credit.
I have had a CareCredit card for a while and only used it for one procedure at at time but this last time I needed cataract surgery and dental procedure. This added several different charges which had various "expiration dates" for no interest if paid in full. I made out a budget where each amount would be paid within the expiration date but then I got a message that I had a promotion balance that was going to expire in 60 days.
When I looked into my account (which I should have looked sooner my mistake) they had applied $1397.00 payments to the one amount that would expire in June 2020 which that $1397.00 would have paid off the June 2019 and August 2019 amount. I called and they gave me some lame excuse that made no sense to me. I also left messages on their customer center email and was told I had to email them after my payment was posted and made the request on where I wanted the payments applied. So I guess after each payment I was suppose to email them each month and tell them where to apply that payment. I didn't recall reading that anywhere on the website when I made my payments. Sounds like a way to get around to charge their 26.99% interest on people that are good customers and had a plan to pay the promotion balance on time.
I have had a Belk card for years never missed a payment. I recently retired and paid the account off. Find out my account is closed by this awful bank. Never missed one payment, owed them nothing, I told them it's discrimination and am considering getting an attorney. It's just the principal. Closing my account made my credit go down. The worst part was they waited until it was paid off.
I called customer service to find out why I was being charged $38.00 late fee when I was not late. I was told since I made my payment on 4/2/2019 that they applied it to my March bill. My original due date is 4/27/2019. I was told I need to wait a week or so to pay my bill so it would be applied to the proper billing date. I have paying my bills at the first of the month for 12 years and I have never heard of this.
Synchrony Bank took over 3 of my accounts. First thing I noticed was interest rates jumped from 19% to 29% and 26%. I had never missed any payments. I track my credit and have been working diligently to increase my credit score. However, once Synchrony got involved they immediately lowered the available credit to the balance owed thereby maxing out all of the cards. I paid the balance down as I didn’t want my credit usage to be high lowering my credit score. Synchrony Bank again lowered the available credit to the balance thereby maxing out the cards and harming my credit score. I was shocked that a company would deliberately harm its customers but it's Synchrony, they are predatory to put it mildly.
Synchrony recently took over my PayPal Credit account and as you can imagine things went good to bad. I closed the account and have been paying it off. However, I had a problem making a payment (never missed a payment btw) and in response to my request for assistance Synchrony Bank tacked on a $38 fee and doubled the minimum payment in an effort to punish me as stated by an agent. It's as if they are trying to push customers into default. I have now stopped paying anything to Synchrony and will end up paying a fraction of the debt when it goes to collection. Not sure what they are thinking but whoever is making the decisions to push, steal from and harm customers until they fight back is an idiot.
The company adds in interest until the end of the loan, but isn't willing to defer those charges if it's paid off early. I'm not even sure how that is legal to charge interest over a period of time that wouldn't be used if paid off early. I understand wanting your money, and the interest, but it's good business to work with customers that want to pay things off early.
Never deposit YOUR money into Synchrony IRA CD despite their rates being a teensy bit higher. I had an IRA CD maturing on 4/19. I sent in the appropriate paperwork by Next Day Air which they received which included a request for $10K less 15%. The lady said they had my paperwork, all was in order for my withdrawal. It can take 3-5 days to process because we are so busy. Expected that it would arrived by today when my property taxes are due. Not in the mail so I checked their website. Says I called 4/19 negotiated new rate, no pending transactions. Thanks for making a problem for me I didn't need. NEVER BELIEVE WHAT ANY OF THEIR REPS SAY. I HAVE 1005 BAD SERVICE EXPERIENCE and now I notice they aren't even accredited. I am going to try and find a way to get my money out of there without paying a penalty. Made me feel stupid.
I was a victim of identity theft Oct 2018, PNC National Bank alerted me. I then checked all other credit cards and notified the credit union. I found out 1,400 ck was cashed, my DL was scanned, it's been a nightmare. My mortgage was auto deducted from the credit union. I received notifications that Nov and Dec mortgage was withdrawn from the credit union acct. The problem was since there was freeze on the account (that I knew nothing about) the transactions did not complete, the money did not cross to Home Point Financial.
Yes I did receive a notice from Home Point in Nov. I called them. The problem was they had the wrong name, wrong property address, when I asked if everything with mortgage was ok they said yes (they were rushing me off the phone because of their violation). All this was turned into Home Point Mortgage and the credit union.
During this time Citi Financial lowered my credit limit to the amount I owed them making it look like I maxed out the credit card. Synchrony Bank they screwed me in the worst way - I have a QVC, Walmart, JTV, all cards that were either at zero or had a few hundred dollars on them. (No more than 30% of the limit.) I have an excellent history with Synchrony, I've never been late, I've never gone over the limit.
Because they saw the late on my credit report they took my credit card limits down to whatever I owed. For example, my Walmart credit card had a credit limit of 3,000.00. I owed 650.00 and just made another 50.00 payment that wasn't even due. They lowered the credit amount to 640.00. Making it look like I maxed out this card further lowering my credit score. They did this with 4 other credit cards that Synchrony Bank backs. (Like QVC, JTV.)
They single handedly screwed up my credit. I hate them and I am reporting to the FTC. Where is the incentive for me to pay them now???? Don't do business with Synchrony. If I was ** male they would not have discriminated against me. The man from Synchrony thought I was a Spanish lady. What does that have to do with anything? They are also racist.
Whatever I purchase on Amazon, when the bill comes I pay my purchases in full, except for those purchases who have a promotional deferred interest and become due at a much later date, currently such one is November 27 of this year. In my February statement on the purchases/debits I had $173.82 in purchases and an unknown $11.64 interest charge. I called the bank and asked what this interest charge is about and they were quick to waive it.
Wanting to pay off in advance some promotional interest purchases that were becoming due in June and July I calculated if I pay $601.63 not only my payment due is covered but also I paid off a few aforementioned promotional interest purchases. The person I spoke with at Synchrony Bank verified that. To make sure I got it right he verified that a payment of $601.63 will cover the purchases plus also three other interest free promotional purchases coming due in June and July. My March statement showed my payment of $601.63 as well as the credit of $11.64 for the previously charged interest. New purchases were $402.35 but again there was an interest charge of $8.04! My next upcoming interest free promotional purchases due were November 27.
So I called Synchrony Bank again and was told that the purchases payment in full would have to be $445.87. When asked why does it say $402.35 on the statement and why does it have an interest charge again yet it does not mention nowhere any such charges as mentioned before, the answer was that I also have to pay the total minimum payment due IN ADDITION! (WTF?) The latter was $38.
It is my understanding, like with any other credit card, that the minimum payment is part of the total purchases I did. So as I pay in full every month there should be no interest. At least on any other credit card I have and use this is the case. The conversation got very quickly very testy and unfriendly. They did credit me the other $8.04 interest charge but were unable to answer my question why they would charge me interest when I pay every month in full! I figure that I'm not the only one but maybe one of the few actually reads the statements and I wonder how many millions of buyers are being screwed that way!
I would never seek a loan Synchrony Bank/Care Credit again. I received dental surgery in the amount of $2000. Care Credit offers interest-free if you pay it off within 6 months. I planned on doing that and then got laid off. Now, 2 years later I am back up to $3000 because of "deferred interest" charged to my account. Even though I have been paying $100 per month all this time. What the heck! This is as bad as going to a loan shark. Don't ever borrow from them unless you know FOR SURE that you'll be able to pay them off quickly.
I wanted to make a large purchase on eBay and PayPal advertised on eBay at checkout that I could get 0% for 24 months if I used Paypal Credit which is through Synchrony. I applied and was approved for over $3,000 for an $885 purchase. When I went to complete the transaction it would say I cannot use the credit. I call Paypal and they say it is fraud protection and that they have no option to override. I tried for three days straight with today being the last day of the offer and no way to make a purchase which was the only reason applying for the credit in the first place, which I was approved for the credit. A little too convenient if you ask me.
Had a Synchrony Bank loan for a boat purchased in 2017. Monthly payment plus extra paid on time every month through autopay. Traded boat for new boat in 2019, and dealer paid off Synchrony balance in full (well in advance of next monthly payment due date). Received confirmation letter from Synchrony Bank that loan has been paid, security interest in collateral has been satisfied and thanking me for my business.
Am now receiving almost daily calls from collection agency, rudely harassing me as if I am some dead beat. Apparently, one silo of this financial institution does not communicate with any other silo in the corporation. This matter will be referred to my state's Attorney General. Any attempt to ruin my closely guarded and excellent credit rating will be met with swift legal action against Synchrony.
I had this the Synchrony credit card for about 2 years. Paid my balance and the credit card closed out the account. This is one of the worst credit cards to get with a high interest rate. Consumers stay away from this credit card. Don’t sign your life away. Trust me, worst company to do business with.
I have had my Synchrony Bank Credit for card for 9 years and 8 months. They were always great until recently. I used to have a $1,800.00 credit limit with them for approximately 5 years. After I paid off the credit card and they were no longer accruing all the interest I had been paying for all those years. I went to Walmart to make a purchase that was just a little over $100.00 and my card was declined. I was so embarrassed, thankfully I had my debit card and was able to pay for my groceries and call the credit card company and that is how I found out they had lowered my credit limit from $1800 down to $100. I was extremely upset because the card was literally paid off only 3 days earlier and I received no notice.
Anyways moving on it is now over 4 years later and I received an email from the credit reporting agency asking if I had closed my account with Synchrony Bank. I had not so I immediately called them and they told me that they cancelled my account. WHAT?!?! Are you kidding me? I have had you guys for almost 10 years and you just cancel my card? This is the way I look at it. They love it when you have a balance and are paying them interest but the moment you start to do good and are not keeping a balance on their card they will cancel you. This is a sad excuse for a company. My husband has 3 Synchrony accounts and we just transferred the balance of over $10,000 to another account. They along with Wal-mart will not receive another penny from my family. BEWARE! They will take you for all you have when you are struggling but the moment you start doing good. They get the heck out of Dodge!
I've had my Amazon credit card through Synchrony Bank for years. It has always been on autopay and has never been late and then out of the blue they lower my credit limit. From over $2,000 to $800. No warning, no letter, nothing. I tried to speak with customer service and they say they can't help me without the letter they sent, which I never received. I also have my CareCredit card with them that's on autopay and a Walmart card with $100 limit that I pay off every month. I also just paid a couple other credit cards off and my credit score is on the rise. Why would they just lower the limit? And now after reading other reviews here I'm afraid they will close the account for no reason too, which will make my credit score lower. Customer service is rude and not helpful at all.
I made the mistake of getting a CareCredit card when my dog was seriously ill. Paid it OFF within the promo period (almost $500 in 6 months). They CLOSED my account. Called to complain, they said it was because it had a 0 balance! They said I could just reapply (I did, because my daughter needed glasses). Paid it OFF again -- again within the promo period, and yep -- they CLOSED it again! TWICE! Excuse this time, they ran my credit (even though there should be no need to since I had not tried to use it) and it had dipped below their standards. WOW. I guess their standards are that you must use it alot, not when you need to. I will NEVER do business with Synchrony bank cards again: paying off my Old Navy and Walmart cards (which I rarely use anyway).
I chatted with a representative about what I needed to do to keep my account open BEFORE it closed. I was told to fax a letter stating I wanted to keep the account open. So I did so the following morning. Well 5 days later after I faxed the letter I get an email saying my account has been closed. So I immediately call to fix this situation and keep my account open. I was told it was closed more than 24 hours ago. I stated, "Then why am I receiving an email today if it was closed 24 hours ago, so now you can’t help me?" I explained I spoke to someone 5 days prior explaining I wanted to keep the account open and that I faxed what they wanted way prior. And why send me an email 24 hours after you closed my account and not allowing it to reopen? So unprofessional.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)