Synchrony Financial Reviews

I am in a nightmare experience with Synchrony Bank and have had to enlist the aid of two federal agencies to try and get back the $100,000 they are holding hostage. I have several verified external accounts that transfer money into Synchrony. When $60,000.00 was transferred into Synchrony from one of these verified external accounts last week it didn't show up in my account even though Synchrony had sent me an alert verifying that the money had indeed arrived and the transaction was complete. I finally got the paperwork from the external bank showing the ACH transfer number, date of transfer and amount and gave it to one of the managers. A couple of hours later the money appeared back in my account.

The worst deal you can make is to finance something with Synchrony Bank. They are a mafia of scammers with very high interests and too many fine print. And I say mafia because with such a low rating (1.1) and such deplorable service, they are still in the market making deals with recognized companies they are degrading. They do not have a presence in many states where they operate nor clear answers for their wrongdoing. They are the disposable part of the garbage. Do not trust these people.

I have a degree in BBA/Management, and one of the first things I learned in College is that a business relationship is a partnership that works both ways, an equal opportunity for both parties involved! I think whoever is managing Synchrony Bank must either have no degree in business or managing a business, or fell asleep while this was being taught in class, because they seem to think it all works one way, and that is their way! They make all the rules and only they should benefit from the relationship! Well after reading your reviews and further research as well, I am confident it will soon all catch up to you, and you will eventually have no relationships with anyone.

Synchrony lowered my credit limit after I made a $500 payment, which was way over the minimum due. I have had ZERO late payments to them or any other account so there was no justification doing this!!

I underwent a significant ordeal involving this institution. Following this encounter, I reached the conclusion that Synchrony operates on a much lower tier compared to established traditional banks and is not equipped to compete at the same caliber. Regrettably, I made an error by placing a substantial sum of money into their High Yield Savings account. In a matter of months, they made a series of mistakes to the extent that I had to involve the authorities to reclaim my funds. Instances of lost transactions, frozen accounts, and a refusal to deliver services seemed to be commonplace there. I consider myself lucky that I managed to recover the entire initial investment. These individuals are either completely uninformed, engaged in dishonest practices, or possibly both. I strongly advise you to do yourself a favor and steer clear of them.

Lowered my credit limit for no reason, causing my credit score to go down. I never missed a payment, most months I made 3 payments, some months 2 payments, & all months always at least min. & never late.

With a FICO score of greater than 800, it hard to understand how a financial company can cut your credit line in half for no justified reason. This account was set up to purchase music equipment in the future with an 18 month interest free promotional rate, and with no activity, they just elected to cut the credit line in half.

I would never recommend getting a card or any dealings with Synchrony Financial. As a customer of YEARS with 100% on time payment history, they randomly closed my account without any notice or justification as to why. When called to ask, they only repeat a canned response which has no logic or bearing. I believe that this company has discriminatory practices against minorities and should be investigated as to any patterns of who they close accounts on randomly in good standing and the demographics of those individuals. I suspect we may find a class action case.

Like many others I have been struggling to just make minimum payments due to the course of most of my Synchrony accounts going from around an 8%-12% interest to around 32%-38%. I'm not hiding nor avoiding the calls. I'm honest and straightforward and working towards paying of all my account through another company who is negotiating and consolidating those account. I have never been late nor missed a payment prior to my issue. We are talking 20 or so years of perfect payments. Jump to more recent starting 3 days after I missed my payment I started getting harassed...But what is more worrying is the fact that for all the other Synchrony account they have either closed out where I can only make payment..All this has taken place less than a month of me missing my payment..

Synchrony Card Security is a SCAM! Do not sign up for this service. I discovered that my monthly loan payments was only going toward Card Security. Then when I lost my job, they denied me because they said I resigned instead of termination. So, the 3 years that I paid into the program was lost. And they will not refund me the money I paid into it. I was not given any information from the provider about the terms and conditions of this program.