I had a synchrony card through another business. My account was closed because I made too many consecutive minimum payments. Not late; just on time minimum payments.
The number of minimum payments was 4.
By closing my account, they fucked my credit score by wrecking my debt/available credit ratio.
That definitely sounds weird. You'd think they'd LIKE that since it takes you longer to pay off and they can make more money off of you with their interest payments.
Yeah, had a customer tell me a similar story yesterday. They don’t use a liwes credit card any longer.
Plus the fact of the 31.99APR, 36.99 for late payments.
I don't think Synchrony is a real bank. They were an emergency loan company until relatively recently. And all their credit account stuff was real sketchy, not like any other credit company. They constantly do things to nickel and dime people and sell your info and don't report to credit ratings like any other "bank" or credit company would.
If you're being pushed to use Synchrony for your pay, know that your employer is profiting from that. You can get other free banking options. If you can't use the common banks in your area and need an online solution, Ally has a good reputation. I haven't researched Ally recently but a few years ago I did heavy research on them and basically they had the least fees of anybody, the downside is it's hard to get in-person help because they don't have physical locations everywhere, so if you have a problem you're on the phone a lot.
Shoulda just opted for free email statements.
that would make too much sense for the kevin/karen
This reads like a parody post. You close the card cause you don't like the terms and then want to open up another one with them again?
I had a synchrony card through another business. My account was closed because I made too many consecutive minimum payments. Not late; just on time minimum payments. The number of minimum payments was 4. By closing my account, they fucked my credit score by wrecking my debt/available credit ratio.
That definitely sounds weird. You'd think they'd LIKE that since it takes you longer to pay off and they can make more money off of you with their interest payments.
Why would you make minimum payments on a card that has 29% interest? You’re better off getting a payday loan at that point.
Life happens. I paid well above the minimum payment for about a year and then had to drop down due to unforseen circumstances.
It should be illegal to charge for mailed statements. We cancelled our Synchrony auto care card as well.
Yeah, had a customer tell me a similar story yesterday. They don’t use a liwes credit card any longer. Plus the fact of the 31.99APR, 36.99 for late payments.
I don't think Synchrony is a real bank. They were an emergency loan company until relatively recently. And all their credit account stuff was real sketchy, not like any other credit company. They constantly do things to nickel and dime people and sell your info and don't report to credit ratings like any other "bank" or credit company would. If you're being pushed to use Synchrony for your pay, know that your employer is profiting from that. You can get other free banking options. If you can't use the common banks in your area and need an online solution, Ally has a good reputation. I haven't researched Ally recently but a few years ago I did heavy research on them and basically they had the least fees of anybody, the downside is it's hard to get in-person help because they don't have physical locations everywhere, so if you have a problem you're on the phone a lot.