BE AWARE THAT YOUR PAYMENTS DO NOT GO TO YOUR "DEFERRED INTEREST" BALANCE AUTOMATICALLY!!!!!!
I just got off the phone with an "insipidly rude" supervisor at Synchrony (Bank the handles credit for PayPal). I was informed that your payments are not used to pay down your deferred charges automatically UNTIL TWO MONTHS BEFORE THEY EXPIRE! If you want to have your payments attributed to those larger charges you have to contact them by phone and request that the payment is used for deferred interest charges only.
If you don't understand what this means, I will try to explain.
If you make a $1000.00 purchase. This will automatically be a deferred interest purchase.....Great, you have time to pay this before I get charged interest!
NO! Not necessarily! If you only make $300.00 monthly payments, you will be charged the total interest on the $1000.00, because the two payments of $600.00 will not cover the whole amount in the two months preceding the expiration of the deferment.
Everyone, do yourself a favor.....zero your balance out as fast as possible and cancel your accounts!!!!!!
AND think twice before opening a credit account with any store/payment site that uses Synchrony as their credit company.
Here are a few:
Amazon, Sierra Trading post, PC Richards, Pearle Vision, PepBoys, Peloton, QVC, TJMaxx, Walmart, Value City Furniture, SteinMart, Sleepy's, Sam's Club, Newegg, Norwegian, Marshall's, Men's Warehouse, Lowe's, Gap, Google, etc.
Good Luck!
