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Synchrony Bank is single handedly destroying everything that credit builders/rebuilders work so *** hard to achieve with their greedy Mickey Mouse system. In a world where credit scores determine so many futures and outcomes, you're better off WITHOUT Synchrony Bank.

(Especially if you're trying to increase your scores to the 700-800 range.) Don't believe me? Do a little research before accepting a new line of credit from them. They close accounts in good standing due to lack of use/no use...WITHOUT NOTICE! = NEGATIVE IMPACT ON YOUR CREDIT SCORE!

They decrease credit limits due to a lack of regular spending. = Increases credit utilization = NEGATIVE IMPACT ON YOUR CREDIT SCORE! Their entire operation is a designed to FAIL the consumer. It may be in their terms and conditions, but believe me when I say that it doesn't matter how meticulous you are with paying bills, if you're not utilizing a fair amount of your credit lines issued, they will take them away, ultimately leaving you with the very thing you want to avoid with revolving credit accounts.

(high credit utilization) If you think you're doing a good job by maintaining a zero balance, think again. They will close the account. WITHOUT NOTICE and not even think twice about because it's automated. Closed CC Accounts = NEGATIVE IMPACT ON YOUR CREDIT SCORE!

My experience? CareCredit limit reduced by $1500 to only $500 due to lack of regular spending or use...it's *** CareCredit! (I used it only for vet services.) Their response..."If you can find a Rite Aid, you can use it like a credit card." Unfortunately, I don't shop at Rite Aid. I never have.

Nor do I have any plans on doing so anytime soon if at all and I'm certainly not going to drive around looking for one just to keep my CARECREDIT account alive. That would be absurd. Another response was, "You can request a credit line increase." = HARD INQUIRY...NEGATIVE IMPACT ON YOUR CREDIT SCORE! Baers Furniture Card 1K closed due to lack of use.

They proposed that I reapply. Doing so would add a hard inquiry. = NEGATIVE IMPACT ON CREDIT SCORE! Yes, I'm pissed.

That's because building your credit score up is not easy and when these unnecessary changes happen, they can quickly drop your score and entire scoring category. (Very Good - Good or Fair - Good, etc.) While in the real world this may not seem like a big deal, I assure you that it most certainly is in the credit scoring world. It's one thing to decrease credit lines and close accounts to those who fail to pay their bills. However, it's another altogether to do it to those who meet and exceed payment expectations on a monthly basis.

Those who do a good job should be rewarded.

Their practices are unacceptable. I'm looking forward to a class action lawsuit.

Reason of review: Problems with payment.

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InsaneHurricane

They did exactly this to me. All payments on time, never missed a payment.

I decided not to use the card again after my first large purchase because I wanted to focus on paying the balance off (about $2,500) before buying anything else. When I had the balance down to $630 and was close to paying it off, they slashed my credit limit from $4,000 to $660, which will obviously cause some damage to my credit, but thatโ€™s okay. I have other credit cards with better companies who arenโ€™t unethical or shady and actually care about their customers unlike Synchrony. My credit score will go back up.

Even when I lose a few points for closing my credit card accounts with them after I pay them off 100%. Iโ€™ll just be happy to purge this company from my life and to make better financial decisions than doing business with them.

Guest

So true

Guest

***

Guest

We have had the same experience. Wal Mart used them for their credit card customers and a few years back dropped them and switched to Capital One to issue their store card.

There was many Wal Mart customers complaining. So happy Wal Mart listened.

Guest
reply icon Replying to comment of Guest-2205529

No, Capital One gave WM a better deal. They could care less about you.

Oh and as an FYI, something tells me you haven't seen the complaints about the WM C1 card. Same complaints from the same lame losers.

Guest
reply icon Replying to comment of Guest-2250972

Such a great deal that WM is trying to break ties with C1 right?

Guest
reply icon Replying to comment of Guest-2205529

Yuy

Guest

Agreed too 150%...,...

Guest

I just wanted to point out to everyone that I am also a victim of Synchrony. They sent me, in the mail, without my permission, a $600.00 Amazon store credit card after I locked my Mastercard on file with Amazon.

They are Amazonโ€™s store credit card banking partner as well as 90% of the stores, EBay, PayPal, BestBuy, etcโ€ฆincluded. They handle most of the store credit card purchases and billing. I believe only Walmart dropped them and now uses Capital One instead. Many of us say we will switch to another bank but you know what?

I researched Chase, Citizenโ€™s, Bank of America, and other big banks on this site and found that they all have complaints of poor customer satisfaction ratings of under 2% out of hundreds of thousand of reviews per bank. Most reviewed banks have less than 10 resolved complaints each. If any. The claimed losses per institution by reviewers is in the millions of dollars each.

Where are those millions of dollars going? Iโ€™ve found 2 satisfied customers only and they could have been put there by banks themselves. I donโ€™t know. My conclusion is that local Credit Unions are better than the banks listed on pissedconsumer.

In fact, I found zero complaints regarding credit unions. Only the big banks listed all have basically the exact same problems. Is this site just for complaints? Are positive reviewers not coming because happy customers tend to not come on these consumer advocacy sites, not just this one.

Are these sites only meant for consumer complaints? Are these skewing the purposes of advocacy sites? Iโ€™m not finding โ€œhappyโ€ sites because who wants to read complimentary reviews? Iโ€™m just talking about financial institutions.

I have reviewed non financial sites with the same results. On several different advocacy sites.

Iโ€™ve only found two โ€œthank youโ€ reviews on pissedconsumer. So how can one find equal negative and positive reviews?

Guest

They tried it on me with Amazon, who uses synchrony but my 729 credit score never was affected

Priest Fun

865 680 **** Ref Class Action Lawsuit Lets DO IT No Joke Ray

Guest
reply icon Replying to comment of Priest Fun

LoL. You agreed to arbitration. You serial dead beats and fools that play the credit utilization game love the notion of quick money.

Guest
reply icon Replying to comment of Guest-2000053

Itโ€™s very difficult to get to Synchronies terms of use. Including the arbitration clause.

I lost nothing under synchrony except $16.00. I then locked my credit card and asked for the same card with different numbers and expiration dates and CCV code in the back and it rendered the Mastercard invalid for them not me. What do they do? They send me a $600.00 Amazon card but although I shredded it.

It gave my credit rating report a loss of 2 points. Amazon is no longer an app in my phone. Experian considers it an open credit card although it shows a zero every month. My States Attorney Generals, consumer division will contact the bank and Amazon for fraudulently opening up a credit card without my knowledge.

Itโ€™s not over by any means. I am going to try punitive charges as well

Guest
reply icon Replying to comment of Guest-2193707

Well, I just got a letter from Synchrony stating that someone opened up an Amazon Store Credit Card for $600.00 without my knowledge or permission. It just popped up in my mailbox.

They agreed with me that this card was open fraudulently and have shut down the account and notified 4 credit reporting agencies to remove this account from my credit reports due to fraud. It's strange because this account always had a zero balance every month for at least a year. I don't know who opened it (it could have been Amazon or Synchrony) but saying it was fraudulent because I never applied for it and if an identity thief spent money on it I wouldn't have to pay them back since I didn't make the purchases and that I can keep any merchandise if I did get something. My credit score should go up now as it was initially determined to be my card and none of the 4 credit reporting agencies erased it untill now.

My emails to them didn't make a difference. Now I don't show 2 open credit cards. I also put a fraud alert on all reports.

People need to call me for approval. I'm satisfied.

Michael S Heg
reply icon Replying to comment of Priest Fun

I submitted my complaints to my state attorney general's office

Guest
reply icon Replying to comment of Priest Fun

Fake Nonsense...Anyone signing up for one of these cards agreed to arbitration. This is a way to get fools to call in to lord knows what.

O. P
reply icon Replying to comment of Guest-2044668

These agreements can and should be challenged in court!

Guest
reply icon Replying to comment of Guest-2044668

They realized that most people donโ€™t read the terms. They are not even on the Amazon terms.

They are scamming us. Their terms are well hidden

Guest
reply icon Replying to comment of Guest-2044668

I'm not a fool. I never applied for a Synchrony/Amazon $600.00 store credit card and it had no terms.

It just came in the mail after I tried to cancel my Mastercard on file. I had to lock my Mastercard and get another one with different numbers. They pulled a credit check on me witch i cannot remove and now I have 2 credit card accounts.

A hard hit on my credit report of 3 points lost and Experian wouldn't remove it. So it has an "open" charge card

Guest
reply icon Replying to comment of Guest-2044668

You're right. But in my case they mailed me a $600.00 Amazon Store Credit Card without my requesting it.

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