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Is Synchrony Bank Good or Bad? (Maybe both.) - A Synchrony Bank Credit Card Review / Ramble

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ProudMoney - Credit Cards & Personal Finance

ProudMoney - Credit Cards & Personal Finance

3 жыл бұрын

It depends. [Click "See More" for Advertiser Disclosure]
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#synchronybank #creditcards #synchrony

Пікірлер: 275
@ProudMoney
@ProudMoney 3 жыл бұрын
You can support our channel by choosing your next credit card via one of the links below (in other words, we make money if you get approved): [Click "Read More" for Advertiser Disclosure] . - CardMatch™: rebrand.ly/p70ubk - Cash Back Credit Cards: rebrand.ly/8tz84x - Travel Rewards Credit Cards: rebrand.ly/27jk4y - Credit Cards For Good Credit: rebrand.ly/yi47oz - Credit Cards for Fair Credit: rebrand.ly/956h4w - Or, use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.) . ADVERTISER DISCLOSURE: Unless otherwise noted, this channel receives compensation from our partner sites when you click through and are approved for a credit card through the links you see above. Compensation may impact how and where we place these links. While we try to include information on a wide variety of financial companies and products in our videos, we definitely can't guarantee that we've included every company or every available offer. NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
@walkingdisaster2475
@walkingdisaster2475 3 жыл бұрын
I LIKE 👍 YOUR VIDEOS ! I'M NEW 2 THIS (.HAVING A CREDIT CARD ) I HAVE A ? 4 U N I WOULD APPRECIATE IT A LOT WHENEVER U LL FIND THE TIME 2 GIVE ME N ANSWER . I WAS WONDERING WHILE IM PAYING MY CREDIT CARD BILL CAN I USE IT R DO I NEED 2 WAIT UNTIL I CLEAR MY BALANCE ?
@salimtashtosh
@salimtashtosh 3 жыл бұрын
I have 10 credit cards with them all in great shape, never missed a payment. The oldest account is 6 years. I have a good credit history. They close all my accounts without any notice. I honestly feel miss treated, hurts. I feel I have been judged by my Accent and middle eastern background. It's not Fair at all .very disappointed and sad.
@Damian-kl3wb
@Damian-kl3wb 3 жыл бұрын
"You don't choose Synchrony bank, it chooses you"
@bigmsound
@bigmsound 3 жыл бұрын
Not me. I will refuse their cards under any circumstances and shove it up their assess.
@damianwilliamson9015
@damianwilliamson9015 3 жыл бұрын
@@bigmsound high apr?
@docsays
@docsays 3 жыл бұрын
I hear bad things about them online, but I've had a good experience with them. I currently have: PayPal Cashback MC Amazon Prime Card Rooms 2 go furniture card Good credit lines, easy to request more credit with soft pull, no issues. Although it does take them a few days to process my payments, but not a big deal
@ImStillStealingSteel
@ImStillStealingSteel 3 жыл бұрын
I have PayPal MC, Banana Republic Visa, Old Navy Card and Gap Card, all thru Synchrony. So far no issues or complaints here.
@ImStillStealingSteel
@ImStillStealingSteel 2 жыл бұрын
@Simbor Nabor - Im actually glad u wrote something, cuz now I can say, yeah they’re some assholes. Last week my Paypal MC, Banana Republic, Old Navy, Gap and Synchrony 2% card all got closed for no damn reason. I got 5 letters from them saying “High risk, failure to repay”. But the funny thing is that my statements from them and my bank clearly shows that I pay them on time, in full, and never late. I know they closed my accts becuz they couldnt make any money off of me. Lol
@Tulku
@Tulku 2 жыл бұрын
They also tend to report your balance multiple times a month, which I find more annoying than anything.
@emmapeel4299
@emmapeel4299 3 жыл бұрын
Hey, thanks once again for a card breakdown. I am just as pleased with the down to Earth reminder of the slippery slope of deferred payments on items. With the current economy (food on the table, utilities, etc) and the holidays coming up, people sometimes feel socioeconomic pressure to purchase things they can’t afford. It’s a gentle reminder to be careful to not end up in a worse position down the road. ✅
@qn5947
@qn5947 3 жыл бұрын
Paypal MC Venmo MC Sam's Club MC Synchrony is a great bank and never FX fee.
@iooiooi4896
@iooiooi4896 Жыл бұрын
I have the Paypal Mastercard and my statement was $575 but I only paid $509 before the due date because I moved over my Hulu and Tmobile bill to this card but didn't want to make double payments in one month. Haven't paid interest on a card in over a decade but I calculated the interest would only be less than $2. I get my Paypal Mastercard statement and they've charged me over $16 in interest and was told that if you don't pay the balance in full they charge you interest on the entire original balance instead of the amount that carried over. So they charged me interest on $575 instead of the $66 that I carried over to the next statement. I called Chase and they seemed very confused that a bank would do that. Has anyone else experienced this?
@nobom
@nobom Жыл бұрын
I applied for the Synchrony Amazon store card during the pandemic just to get the $100 signup bonus. Never used it. They dropped my credit limit a year later. Didn't care. The Chase Amazon card is superior in everyway(cashback rewards, SUB, extra protection). Honestly, at this point, I don't understand why Synchrony Amazon card still exist.
@sam9242
@sam9242 3 жыл бұрын
Nothing but trouble with them and their entire application process. Wouldn't touch them with a ten foot pole.
@techguydilan
@techguydilan 2 жыл бұрын
They're fine if you don't have any issues at all with them, but from what I've learned of them: 1. After making a payment, log in every day for the next few days to watch it go through. Make sure to print or save payment confirmation emails because they will delete every record they had of you making the payment. And if it doesn't clear to your bank's system, there won't be any evidence there either. 2. Part of my day job I work with 10 or so software and online information vendors on a daily basis, including providing customer support to general users in an IT role (takes one to know one). On top of the various companies I deal with on a personal basis, including a couple of other credit card companies. So I've seen good and bad when it comes to customer service. Synchrony is about THE WORST when it comes to customer service. Even fricking Spectrum has better customer service despite the salesman who signed me up for TV anyway when I told him "I'm not interested" twice. At least they refunded me right away when I called as soon as the first TV bill hit. Instead of doing the "Are you connected? Please reply" every 5 seconds on top of the circular questions that just got annoying at best which is what all the Synchrony reps I've talked to seem to do. So I blame that one on their company training. Objectively I think I'm better at customer support and I'm a bit grouchy at times. With any credit card these days, it's just about a given that you'll have fraudulent charges on it at some point. At least with how active cybercriminals are with breaching data these days and how every retailer seems to have to learn proper data etiquette the hard way instead of learning from their competition. You don't want to deal with a company who struggles with the simple stuff I ask, like "what happened to the payment I scheduled?" when you have to do something as complex as a dispute on a 20 day old charge.
@CaseyBurnsInvesting
@CaseyBurnsInvesting 3 жыл бұрын
Synchrony Bank is sneaky
@novisoprano1420
@novisoprano1420 3 жыл бұрын
Fuck yeah they told me they’ll extend my payment til April and I wake up today, and sneaky mfs added 800 dollars on my account talking about I was late🖕🏾🖕🏾.
@kennethspeaks2408
@kennethspeaks2408 3 жыл бұрын
Their rap is deserved. I have a Kay Jewelers account, $5,000 limit. Used $500 of it. That is a 10% utilization, they take over the account, cut my credit line to $750. Red flag makes my utilization 65%.
@thesurvivalist.
@thesurvivalist. 3 жыл бұрын
Same here on another card! I lost 54 point because they did that!
@JoeR203
@JoeR203 3 ай бұрын
They suck! Notice comments are disabled on their channel? I had a mere $700 line of credit on their card. I made every payment (more than the minimum) on time and even paid it off early. After it was paid off, they closed the account citing my credit history wasn't up to their standards. Well, if it wasn't up to your standards, then why the hell did you give me a line of credit???
@phoenixMaxxOnShop
@phoenixMaxxOnShop 5 ай бұрын
i Hate Synchrony Bank
@DalHarpJr
@DalHarpJr 3 жыл бұрын
Synchrony Bank isn't sneaky with the deferred interest. Its up to you to make sure you don't get caught up in that trap! I have several Synchrony Bank cards and don't have an issue with any of them!
@SabreLeonheart
@SabreLeonheart 3 жыл бұрын
Agreed. People need to understand what they're signing and agreeing to.
@ImStillStealingSteel
@ImStillStealingSteel 3 жыл бұрын
@@SabreLeonheart - Exactly
@dannyg.817
@dannyg.817 3 жыл бұрын
So are they really not charging you any interest of you pay within their time? Did you give any down-payment to finance? I'm trying to apply for synchrony to acquire an item at 6000 dlls and I was told I could finance at 12 months without any interest but im not that quite sure if they're not going to charge me interest if any within, any help?
@DalHarpJr
@DalHarpJr 3 жыл бұрын
@@dannyg.817 No interest if you pay within the 12 month period. No down payment either. As long as you have the credit limit available, you’re good. They’ll charge you interest from day one if you go beyond the 12 months financing period.
@dannyg.817
@dannyg.817 3 жыл бұрын
@@DalHarpJr thank you for that important info I highly appreciate it 🙏
@GM-wf6el
@GM-wf6el Жыл бұрын
Synchrony has terrible phone customer service. No one knows the answers to my questions and I was transferred from one dept to another until I gave up. Will I be able to convert my Paypal Mastercard credit card to a Venmo credit card? Thanks
@shay9993
@shay9993 3 жыл бұрын
I hate that bank, I have an account with them through Ashley home furniture store, I pay my bill on the due date, and I will check my account only to see a late payment, their reasons are payment must be made and processed before the due date to avoid late fees, so I have to call after the date so they can take the late fee out, so to prevent the headache each month I make payments 3 days before schedule. Hate them!
@roxcyn
@roxcyn 3 жыл бұрын
It should say "due date is MM DD, YYYY due by XX:XX PM" or something similar. So if you pay after the time there may be a late fee. A good idea for any of the banks really is paying a day or two before the due date if you do pay by phone or the web.
@ImStillStealingSteel
@ImStillStealingSteel 3 жыл бұрын
Also look at the time as well. I have a Paypal MC which is backed by Synchrony. And the cut off time for same day payments is 5pm Eastern Time. I live in California, so that means I have to pay them by 2pm Pacific Time for same day payments. Just keep that in mind.
@RJFinancial
@RJFinancial 3 жыл бұрын
Interesting topic. I see synchrony bank's name everywhere as a credit card enthusiast. I don't think I've had any cards backed by them yet. Thanks for sharing your experiences with them. Could be an option to build up or build back, so long as you know what you're getting into. Then make the jump to the major players.
@bigrollin
@bigrollin 3 жыл бұрын
They close accounts so be careful
@lyndaproper1313
@lyndaproper1313 Жыл бұрын
I really love Synchrony's Paypal 6 mos. free financing. I have had it for over 5 years without a glitch. I checked before I signed up to make sure the payments I made would go towards my earliest charged amounts. They do. (If the payments I made went towards the most recent charges first, I would have to pay off every penny I charged within six months in order to have free financing.) But, I received an offer from Synchrony for a stand alone credit card (Not in connection to any other company) at a really good interest rate but I didn't accept it because I looked online and saw what kinds of problems other people were having with Synchrony. I don't need to sign up for a card that will ruin my credit rating no matter how low the interest rate is.
@Katrina-Winter
@Katrina-Winter 2 жыл бұрын
1 store card from Comenity (Victoria Secret), 1 store card from Synchrony (Lowe’s). That’s as much exposure I want from both of them. All my other cards are from different issuers except for Capital One, I have 3 cards with them. I’ll never put all my eggs in one basket and something happens and it wrecks my credit score!
@circuittoys
@circuittoys Жыл бұрын
This bank just closed my Amazon credit card for no apparent reason. The CC is paid in full each month. The balance on my card was $346 with available credit line of $3900 I discovered this today when I placed 4 Amazon orders today; each payment was declined. I called Amazon, they told me to call Synchrony, I call them and the rep said your account was closed yesterday. I was like WTF??? Who closed the account and why? The Sychrony bank rep told me I need to apply for a new account. I tried that and was denied. Checked my Credit score; 780; and have zero late charges. First time in 35 years to ever have a bank close my account. Google this topic and I found hundreds of similar stories on reddit. Apparently this happens quite often.
@coreymelanson6729
@coreymelanson6729 Жыл бұрын
What reason did they give you for denying your credit card application with 780 score & A prior account they randomly closed while in good standing?? Why would they close an account in good standing?
@notthefather3919
@notthefather3919 11 ай бұрын
​@@coreymelanson6729 they do it often. They did it too me with my Belks card. They said I didn't have a real estate mortage and had too much credit utilization. Not one late payment.
@jerrycaughron7378
@jerrycaughron7378 3 жыл бұрын
I have the Paypal MasterCard and I am very happy ! No issues.
@victormtz16
@victormtz16 3 жыл бұрын
Are they generous w credit?
@WallStreetIceCream
@WallStreetIceCream 3 жыл бұрын
That’s good been on the fence with this card
@docsays
@docsays 3 жыл бұрын
- have it too, great card.
@shawnvire4941
@shawnvire4941 3 жыл бұрын
I have it too no issues
@ImStillStealingSteel
@ImStillStealingSteel 3 жыл бұрын
Same. No issues here :)
@thejokerspeaks
@thejokerspeaks 3 жыл бұрын
I got phishing looking e-mails from them last year, a rep told me they were from scammers, so I quickly closed my account. Later they claimed that it was an internal mistake, they don't know why it happened, but they were certain that they weren't hacked. 11 months of Sams Club Rewards, gone... Next time I went to Sam's Club, I got a notice that Synchrony wanted me to call to reinstate the card, but they changed their mind once I did.
@eclectic_musafir
@eclectic_musafir Жыл бұрын
I've dealt with Synchrony for multiple credit products over 15 years (since 2007). I've never had any major issues, only small administrative complaints. I financed a motorcycle through them and paid it off early back in 2007, and currently have two credit cards (technically three). I have the Discount Tire card and I had the Rakuten Visa card, but that was discontinued and Synchrony recently product changed me to the Synchrony Premier Mastercard (2% cashback), raised my credit limit, and offered a new account bonus when they did so. So, right now I have three credit card accounts, but only two are active. I'm keeping the Synchrony Premier as a "floor" backup card, since a 2% cashback card is always useful at some point. Deferred financing is absolutely making a deal with the Devil, and at the end of the day, it's your responsibility to have some basic financial literacy and fulfill your end of a contract you agreed to. I was a credit newbie back then when I bought those tires at 0% deferred, and it wasn't hard to understand that it was essential to pay that off EARLY just to be safe. If you buy something and you can't/don't pay it off on time according to the terms, you accept the consequences - simple. 😒 The two admin issues I've had with them were that it took 5 weeks for them to approve me for the Rakuten Visa, and I had to go to Chase Bank to get an identity verification form notarized in person and MAILED to them, after which they sat on it for three weeks. Ridiculous in 2021. The second issue was related to the demise of the Rakuten Visa, in that they didn't send the replacement card (Synchrony Premier Mastercard) until three weeks after the Rakuten Visa was deactivated for purchases. Thankfully, I had dozens of of other cards...but for people who don't, that is a huge inconvenience.
@samr6148
@samr6148 3 жыл бұрын
Good review! I've avoided store cards since forever. Looks like I am not missing much. Thanks!
@BlackJesus8463
@BlackJesus8463 3 жыл бұрын
5% cashback!
@phy11isprice81
@phy11isprice81 Жыл бұрын
They closed 2 cards over $5000 just because I didn't use much 😢
@mayrabrmdz
@mayrabrmdz Жыл бұрын
They did that to me too. And my credit score dropped too
@barbarahunken5936
@barbarahunken5936 2 ай бұрын
Synchrony's goal, in my opinion, is to lower peoples credit scores to motivate higher interest rates, and will do so at all cost.
@williamcurry6412
@williamcurry6412 21 күн бұрын
I can see that. If you have a low utilization and great credit history all they have to do is close several accounts and make your utilization increase thus making your credit score drop.
@anonymous6594
@anonymous6594 2 жыл бұрын
Never had an issue with them.
@honduone
@honduone 3 жыл бұрын
I had one of their cards for about two years, used it every month, paid my bill on time, one day they closed my account saying i didn't use my card enough!! Never again!!
@ohheyitskevinc
@ohheyitskevinc 3 жыл бұрын
Don’t feel alone in that. They closed 6 of my accounts with them in the last few months.
@danpierce1120
@danpierce1120 3 жыл бұрын
Did it ruin your credit because they did this to me.
@ohheyitskevinc
@ohheyitskevinc 3 жыл бұрын
@@danpierce1120 me - nah, not really. The score went down obviously because average account age went down, credit utilization percentage of open accounts went slightly up, but honestly I’m happy I’ll never have to deal with them again. I actually disputed all the accounts claiming incorrect info (ie when it was opened, small things like that) with all 3 bureaus just to cost Synchrony some money. Surprisingly, 3 of the 6 zero balance closed accounts dropped off which was nice.
@lianalonge1984
@lianalonge1984 2 жыл бұрын
I pay all my cards in full every month as to avoid interest.
@michaelreid8857
@michaelreid8857 2 жыл бұрын
Smart Girl 👍
@techguydilan
@techguydilan 2 жыл бұрын
Last comment wasn't too clear: I pay my accounts every month. I still wouldn't recommend Synchrony as they cancelled my payment twice on two different promo accounts, got rid of all the records of it, then blamed the fact that they couldn't abide by the "we'll always let you know 5 days before the due date" on me. I set all my defaults to credit accounts not serviced by Synch after the last debacle. Never again.
@Killahkron1992
@Killahkron1992 2 жыл бұрын
They make more money with close accounts because interest trap
@jay4701
@jay4701 3 жыл бұрын
Got approved at a furniture store for $2500. Never missed a payment and they slashed my limit to $2000, then $600. They finally closed the account. This was all done in less than 2 years.
@ericfitzpatrick5319
@ericfitzpatrick5319 3 жыл бұрын
I bet because you did so well with your account, to where they weren't making money off of you.
@El_chero
@El_chero 3 жыл бұрын
Not my case. They approved me for $4,500. Then they raised to $10000. I have not used for about 7 years and still there with 10k
@KlearChristal
@KlearChristal 3 жыл бұрын
@@El_chero You're the minority. Synch is definitely ass.
@chrismorgan6149
@chrismorgan6149 6 ай бұрын
Synchrony is a very bad card. They will close your account for no good reason. Good credit, and payments on time and synchrony will cancel you.
@JoeR203
@JoeR203 3 ай бұрын
Yep. Just happened to me.
@savagenft5441
@savagenft5441 Жыл бұрын
dealing with synchronies the worst decision iv'e ever made in my life!!!!!! Absolute crooks!!!!!!
@ronaldharris53
@ronaldharris53 Жыл бұрын
I'm cool with just having a checking and savings with them but as far as their credit cards they will close your account so fast and for no reason even if you are in good standing that part I don't like
@AbuelaCC71516
@AbuelaCC71516 2 жыл бұрын
Having worked in a position of debt collection, please know that asking for a copy of the cancelled check wasn’t to make it more difficult. It was simply so they could verify they were, indeed, the ones to deposit the check. Obviously, someone did apply the payment on the wrong account, which is on them, but it’s human error. We have had customers who find their check was delivered to the wrong company and, however it happened, that company cashed the check …. Even though it was made out to our company!! It was a crazy mess. Anyway, asking for the copy isn’t to make it more difficult. It’s simply a checks and balances system. I imagine they did credit your account and remove the late fee once they received the copy. I am sorry that happened to you, though. It is frustrating.
@clarencesanders3789
@clarencesanders3789 Жыл бұрын
I have had problems with their website since the beginning but other than that was in good standing. So this morning 09/03/22 they cut my credit line of 1000 to 237 which wasn't the problem for me it was they didn't bother to send any emails, or text explaining why or when, bad business for me take the whole card, I canceled the card. Yes they have the right to do what they will but they will no longer get my business.
@josue4mx
@josue4mx 3 жыл бұрын
I just got approved for the rakuten credit card it'll be my first cc with synchrony bank.
@docsays
@docsays 3 жыл бұрын
congrats!
@thesurvivalist.
@thesurvivalist. 3 жыл бұрын
Congrats, and you will regret it! I only deal with the major banks now!
@bradhampton6457
@bradhampton6457 3 жыл бұрын
Would NEVER have another card with Sync Bank.
@sesquilia
@sesquilia 3 жыл бұрын
Sync Bank is a bad apple and wont side with customers when frauds occur, and retaliate when you are not happy and you tell them.
@garrymyers8459
@garrymyers8459 3 жыл бұрын
Jc penny tried to get me to apply for a card saying there is no longer a hard pull ? no thanks. Thanks for the info
@koreypaul6698
@koreypaul6698 3 жыл бұрын
I used to work there. So much pressure to get those credit card apps. I wonder if it was a soft pull then (10yrs ago). I had an 18y w/ no history get approved...
@dylanmathis1638
@dylanmathis1638 Жыл бұрын
They closed all my credit cards and I was never late I had a 660 score
@heavymechanic2
@heavymechanic2 2 жыл бұрын
My gas card is like 15 yrs old and the bank agents were some real pricks when I asked to reduce the interest rate.. I have an invitation for the 2% cash back card, its for 13.99% APR, 12 months at 0% and a hundred bucks welcome offer.. Sychrony is always under staffed and delay processing mail-in payments and blame the customer, its real bad around any major holiday.
@wishingW3L
@wishingW3L 3 жыл бұрын
Synchrony Bank seem to do that a lot. You pay and then they claim you didn't pay.
@OverwatchForever
@OverwatchForever 2 жыл бұрын
My family has credit cards from all the major companies but has never been approved for any Synchrony bank. They wanted me to take a cell phone video of myself then email it to them. WTF? Is this for real? Is this a real credit card or only fans?
@shouse5373
@shouse5373 3 жыл бұрын
How long will it take for a store card from sync to close on you if you don't use it. I haven't use the card in over a year and they keep giving me CLI 🤣
@odinswar596
@odinswar596 3 жыл бұрын
Never had a problem with this bank. A bank is a bank as long as you pay your bills.
@MsGardenDivaHuffsmit
@MsGardenDivaHuffsmit 3 жыл бұрын
Are you not reading with comprehension? People complaining about this bank (Synchrony Bank) pay their bills in a timely manner and a lot of these people have an excellent credit score. Perhaps Synchrony is pissed because they are not making all of that outrageous interest off of these people's accounts because these people are paying the balance every month. I am ever so thankful that I nor any of my family members have to deal with Synchrony's CareCredit account .... sounds like a death sentence literally .... uh ..... NO thanks!
@miguelangelalmonte2263
@miguelangelalmonte2263 2 жыл бұрын
All 3 of my synchrony accounts were closed out randomly $55,000 of cards because of "high risk credit" but I haven't missed one payment on any of my cards and I have over 750 credit score what should I do?
@davoncci
@davoncci 2 жыл бұрын
This just happened to me 2 days ago. I also have an excellent credit with a flawless payment history.
@starchild5477
@starchild5477 3 жыл бұрын
They cancelled my 76 card and my Chevron card with nothing owed and no reason why. When I called I couldn’t get a straight answer. WTF?
@doogy312
@doogy312 2 жыл бұрын
I read that it cost them too much to have cards that they are not getting interest from??? Or perhaps they are just GREEDY
@tOmMarzig
@tOmMarzig 3 жыл бұрын
I never had an issue paying my Amazon store card. Always pay the bill in full within a week of my statement date. They gave me my first card when no one else would. They also increased my limit every time I asked. So now my usage shows low. I don't carry a balance because the interest is ridiculous.
@roxcyn
@roxcyn 3 жыл бұрын
Yes, it is. 😬
@user-cj1tc8zi4e
@user-cj1tc8zi4e 9 ай бұрын
In my opinion loan sharks that or worse than 90 percent of banks in my opinion.
@hopelessdecoy
@hopelessdecoy 3 жыл бұрын
I've never had an issue with Synchrony, thier cards (I have 4) have been pretty good rewards wise. If they came out with another good card I would probably get it.
@jerrycaughron7378
@jerrycaughron7378 3 жыл бұрын
Excellent review!
@briancauser7779
@briancauser7779 2 жыл бұрын
People need to read more cause with synchrony deferred interest its one your mail how much interest you owe each month if not paid off so its their fault for not reading the bill. Not synchrony fault. I have them and I always look at my deferred interest if not paid off, but I pay it off in the time given or I just don't accept that .
@SS-gj4dt
@SS-gj4dt 3 ай бұрын
Synchrony bank marked me as dead and demolished my credit until i took action and then they finaly opened it back up
@russelllange2037
@russelllange2037 3 жыл бұрын
Great video as always Adam! I appreciate being able to manage credit cards through mobile apps to the point I would steer away from applying to a card if I knew it was lacking one. Most major lenders have good apps and its not worth mentioning if a card has one, but if you know a card you are reviewing does not have one or it is essentially useless it would be good to know. I don’t have a Synchrony backed card but I am suspicious of some of their cards lacking in this department.
@Gregory_TheWatchman
@Gregory_TheWatchman Жыл бұрын
Synchrony Bank is awful, period. They can't wait for you to be an hour late on a payment. Affirm is much better and their customer service representatives are actually polite folk. I simply set auto pay with Affirm. Most loan companies grant a grace period, however, responsibility still lies on the borrower. Nonetheless, Synchrony is only concerned about making money off of late payment fees and interest rates that are through the roof. I have colleagues who have used Synchrony Bank in the past and they too say, "never again". Worse than PayPal.
@firingallcylinders2949
@firingallcylinders2949 Жыл бұрын
Synchrony is just a garbage bank
@lisaj2383
@lisaj2383 Жыл бұрын
😂an hour late 🤣
@notthefather3919
@notthefather3919 11 ай бұрын
An hour late is late. You don't have much to complain about. You were late.
@kevini4295
@kevini4295 Жыл бұрын
I HATE Synchrony bank. I owe a few hundred bucks left on my Care Credit (Synchrony) card. Paying it off and getting rid of them. Never do business with them again. No matter what credit card they back. They lowered the limit and caused my score to go down. Get rid of them.
@mitchell.9632
@mitchell.9632 3 жыл бұрын
Retro-active on the whole balance is something that could use change and if you want to see that change lobby for it.
@mariobruno8085
@mariobruno8085 Жыл бұрын
I have the PayPal Mastercard one of my favorite credit cards. I get the 2 to 3 percent back and when I want a credit line increase I get it automatically. I also want to note I have excellent credit so I do not know about someone that has a lesser credit score. I am really happy with them.
@cartire801
@cartire801 3 жыл бұрын
Great information
@vegan7678
@vegan7678 3 жыл бұрын
DISGUSTING BANK. Abruptly closed 5 accounts always paid in full, never late and even kept my 2% I earned on my PayPay Mastercard for February. So how did I get even? I ordered ALL my past statements by MAIL for the last 2 years. The 2% they kept will cost 3x that in postage.
@teresaedwards2912
@teresaedwards2912 3 жыл бұрын
They did the same thing to me at the beginner of April. Closed for no reason. They kept all my points. Will never do business with them again!
@ericacorey9857
@ericacorey9857 3 жыл бұрын
LOL!!!!!! I love it.
@Thisninjascared
@Thisninjascared 3 жыл бұрын
@@teresaedwards2912 why did they do that?
@thelmacollado7097
@thelmacollado7097 2 жыл бұрын
The same thing was done closed no warning! Never late!
@irrelevant2235
@irrelevant2235 Жыл бұрын
That was a very juvenile revenge tactic.
@zacharydingo
@zacharydingo 3 жыл бұрын
What language is usually used in the terms of a deferred interest financing offer that we should be on the lookout for?
@albertcastro409
@albertcastro409 3 жыл бұрын
I had four cards with them. They close three on me. Because I did not use enough. But they where jewelry credit cards and the fourth one was for Old Navy Credit Card that one I use and it was kept open the three jewelry ones were close. Not cool. At least let me know. Not good !
@bigrollin
@bigrollin 3 жыл бұрын
They Just canceled 9 accounts . 750 fico score. No negatives. Only thing new is auto refinance.
@DymaxionDon
@DymaxionDon 2 жыл бұрын
The Synchrony Bank card for Lowes gives 5% off on all purchases which adds up on larger items. The downside is that making an online payment is cumbersome.
@amarigrant
@amarigrant 3 жыл бұрын
Man listen...you buy this couch with the intention and agreement of paying it off within 12mo zero interest, then mess up and still having a balance after that time!? Synchrony gonna teach you a lesson that you should’ve learned in HS economics. Buy what you can afford to pay off in a timely manner!
@ericfitzpatrick5319
@ericfitzpatrick5319 3 жыл бұрын
High school never and still doesn't teach about credit lol!
@erics1172
@erics1172 2 жыл бұрын
I had a good experience with them i paid my care credit a day late cause i don't realize the date. I called and talked to a rep explained what happened and she waved the late fee and all is good.
@pridelion88
@pridelion88 2 жыл бұрын
I paid off all the sycronym bank accounts but had bad mid 2020 covid-19 crisis where I was unable make payments few months that destroyed or plummeted my points system however, I'm glad I paid off rooms,cons,and jcpenney off what counts. Great feedback sum of everything about the bank indeed..
@homiedonthateg
@homiedonthateg 3 жыл бұрын
I love them I have both pay pal products
@williamcurry6412
@williamcurry6412 21 күн бұрын
If they let you keep the cards there not bad. Unfortunately they close accounts and use bs reasons why. True, it’s there money and I get it but why close accounts on people with excellent credit history and under 25% utilization. Makes no sense to me.
@albertcastro409
@albertcastro409 3 жыл бұрын
Very good review sir !
@lindsayhengehold5341
@lindsayhengehold5341 2 жыл бұрын
I got declined by this bank of an auto loan
@jarexxsuvexx8212
@jarexxsuvexx8212 7 ай бұрын
No bank or credit card issuer as any business dealing with 3rd party cookies. How can any financial institution claim that they are concern about consumer online fraud protection when they deal with 3rd party cookies. Not only does Sychrony bank online service deals with 3rd party cookies but they dont appear to be in any rush to implement strong online account login verification technology, which is kinda suspicious. They should be the first one the Feds investigates for insider assisted criminal activity for all security breaches that occur on their websites.
@zechariahsmith1764
@zechariahsmith1764 Жыл бұрын
I have a question regarding credit types. Are synchrony cards like car payments or like credit cards?
@d05wtt
@d05wtt 3 жыл бұрын
I’m guessing Comenity Bank cards are the same.
@bigmsound
@bigmsound 3 жыл бұрын
Comenity Bank is their EVIL twin!!
@williamhamblin4739
@williamhamblin4739 Жыл бұрын
Thanks for the information
@MoDavI-sl7iy
@MoDavI-sl7iy 3 жыл бұрын
Is that how deferred financing works with all banks or just Synchrony?
@docsays
@docsays 3 жыл бұрын
- no. usually its with store cards, like jewerly or furniture. best buy does the same with big electronic purchases. standard credit cards only defer interest until after statement cycle ends.
@alexrod550
@alexrod550 Жыл бұрын
Hi. Adam ....This bank has been horriable to my family....I will tell you why I will never open any Synchony Bank .. ...They closed 2 cards for no reason.....This bank is off my list...me and my wife ..Banned them ...for life !!.......We have cards that are way better than Synchrony !!
@TheMadisonHang
@TheMadisonHang Жыл бұрын
@1:30 im in minneapolis mn, ford used to have a thing here at the top of the mississippi history is important
@leensen
@leensen 3 жыл бұрын
Hi Adam, in regards to the faxing part most bank want papers to be fax. Now I don't have fax machine but what I do use is a fax app on my phone to send the documents needed. It is not always that they want something to be fax but for the times they do the app works great. In some cases it work better than a proper fax machine.
@roxcyn
@roxcyn 3 жыл бұрын
What's the faxing app you use?
@toothybj
@toothybj 3 жыл бұрын
I have them for Lowe’s and Guitar center cards. They’re not great in terms of interest rates, but the Lowe’s gives 5% back on store/website purchases (or 0% int for 6 months).. no welcome bonuses or anything. Credit lines are decent, a little stingy, but have never seen it cut.
@joeydoherty368
@joeydoherty368 2 жыл бұрын
How long have you had them?
@newbeginnings9457
@newbeginnings9457 Жыл бұрын
They sent me a promotion one week and a few days later they close my account! What gives? I have excellent credit too! Smh
@alejandrozamora3468
@alejandrozamora3468 2 жыл бұрын
So what happens once we fully pay it off though? I bought a bunk bed for 2k and I need one more payment to finish, had the 24 month deferred financing, and haven't missed a payment and about to pay it off in full. Do we close the account and our credit score isn't affected negatively? Can we continue using it normally? Does the account clost by itself after it's been closed down?
@ProudMoney
@ProudMoney 2 жыл бұрын
Stays open as a regular credit account unless you close it but you don't have to use it anymore 🙂
@alejandrozamora3468
@alejandrozamora3468 2 жыл бұрын
@@ProudMoney Awesome! Thank you so much!
@techguydilan
@techguydilan 2 жыл бұрын
@@alejandrozamora3468 Just keep an eye on it for fraudulent charges. They don't like to let customers dispute charges like the other cards I have had.
@rickyricardo976
@rickyricardo976 Жыл бұрын
Do yourself a favor...Close the account.
@jamesearls6715
@jamesearls6715 Жыл бұрын
Just wanted to see if you might talk about what Discover was going to do. They were going to have a gun registration code if you use there card at a gun store. Needless to say I cancelled my card. The lady said because of the backlash they suspended it I asked her to send me that in righting she wouldn’t so I cut the card.
@BEERLIGHTBROKER
@BEERLIGHTBROKER 3 жыл бұрын
I payed off my balance of like 3k and they waited two weeks to post the payment. They said the payoff amount was high? I almost told them........bruh......I'm fing high!!!
@mccarthylucky6236
@mccarthylucky6236 Жыл бұрын
I still dnt understand how this thing works every weekly they called for makin a payment and I still Dnt kno why I applied for this I’m so Confused how this works help me out
@javierbarrientes7235
@javierbarrientes7235 11 ай бұрын
Me too I’m confused …they want my routing bank number…absolutely I will not do that.
@dwong98
@dwong98 Жыл бұрын
I thought Amazon Credit card is from Chase
@notthefather3919
@notthefather3919 11 ай бұрын
I think it's for the Amazon store card. I think for the Visa Amazon, it's through Chase.
@killacam139
@killacam139 9 ай бұрын
That's the Amazon prime visa the store card through syph
@BlackJesus8463
@BlackJesus8463 3 жыл бұрын
The trick is to be able to borrow the money from someone else to pay Synchrony before the deferred terms are up.
@nikkinikki1803
@nikkinikki1803 3 жыл бұрын
They won't allow u to pay ur bill with a credit card
@BlackJesus8463
@BlackJesus8463 3 жыл бұрын
@@nikkinikki1803 balance transferz
@criticalwealththeory
@criticalwealththeory 9 ай бұрын
can u do a video on there dlt and blockchain patents
@ABC-wr2yu
@ABC-wr2yu 3 жыл бұрын
I hate getting socked!
@ProudMoney
@ProudMoney 3 жыл бұрын
They'll sock you!
@trippleh1521
@trippleh1521 3 жыл бұрын
This bank sucks
@WallStreetIceCream
@WallStreetIceCream 3 жыл бұрын
I heard a rumor the PayPal card is gonna have a revamp
@docsays
@docsays 3 жыл бұрын
- it recently got a new look, but same benefits & earning rate.
@wreckedcarzz
@wreckedcarzz 3 жыл бұрын
@@docsays can back this up, I just got my new card yesterday. Just a design change and nfc chip addition. Honestly, I think they should have just waited until the card expiry, but synchrony loves to mail out stuff unnecessarily.
@WallStreetIceCream
@WallStreetIceCream 3 жыл бұрын
@@docsays what’s different about the new appearance of the card ?
@ImStillStealingSteel
@ImStillStealingSteel 3 жыл бұрын
I recently got the new design of the card last week, it’s ok looking. But everything else like the benefits and rewards are still the same.
@docsays
@docsays 3 жыл бұрын
@@wreckedcarzz - so true. i replaced my old card as soon as i saw the new design. then 2 weeks later they send me another. I guess they had planned to mail all users replacements.
@charlesfuentes3695
@charlesfuentes3695 9 ай бұрын
Mostly they don't know what your talking about. Looks like a trap you need to avoid.
@aprilroher5238
@aprilroher5238 3 жыл бұрын
Do they make a hard inquiry on your credit report
@docsays
@docsays 3 жыл бұрын
- yes
@ohyousofunny20
@ohyousofunny20 3 жыл бұрын
yep they gave me TWO
@calliopivogiatzis2235
@calliopivogiatzis2235 2 жыл бұрын
I'm having a hard time with this bank . I co-signed for my son's friend to purchase a vehicle and for 3 wks,they're after me for payments,understandable. When I tried to explain to them I did this as a favor for my son and if I had any options,I just got a very nasty man demanding immediate payment
@MrGoomer12
@MrGoomer12 Жыл бұрын
You will never have an issue if you actually pay your bill. If you sit on your card with no activity it will be closed, I deal with people every day and people with come in to use their synchrony after 5 years of no activity. I do see the example of not paying something in time but at the end of the day please pay on time within your promotional period or else yes you will be hit with the interest you signed for. Very simple.
@lyndaproper1313
@lyndaproper1313 Жыл бұрын
No, not always very simple. Some companies have more lax operations than others, and some companies have held onto payments for days in their mail rooms before they credited the payments. You have to check out the company's reputation before you accept their card.
@notthefather3919
@notthefather3919 11 ай бұрын
That's a lie. They close accounts in good standing, with no late payments. You don't know what you're talking about. They lower limits and do other things that negatively impact your credit. I guess this was posted by a Synchrony employee.
@adamdiazzz
@adamdiazzz 8 ай бұрын
@@notthefather3919is this from personal experience or did you just hear it somewhere
@belemchacon6530
@belemchacon6530 3 жыл бұрын
I got approved for this credit card for $6500 I just got it so will see 🙈
@superman916ify
@superman916ify 2 жыл бұрын
Which sync card?
@OverwatchForever
@OverwatchForever 2 жыл бұрын
Synchrony Bank deny everything
@edwardwillems6958
@edwardwillems6958 3 жыл бұрын
need to tone down purple light
@ProudMoney
@ProudMoney 3 жыл бұрын
disagree, more purple!
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