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Synchrony Bank Major Issues

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MLCAP417
Contributor
Posted on

I am at my wits end with Synchrony Bank. With such a large customer base that PayPal has, why choose a company that has so many website and technical issues, has no idea how to use data mining properly to Mahe credit decisions and is really small potatoes in the banking world. There has to be much more professional based financing services with a bigger market share more than willing to service PayPal. Not that I'm saying Synchrony purposely does these things so they can accumulate late fees. I mean that would be against banking regulations. 😉

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Synchrony Bank Major Issues

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MLCAP417
Contributor
Every account I have serviced by Synchrony almost always has errors whenever trying to make a payment. What a perfect way to stack up late fees. Not only that, they reduce credit limits based on CREDIT INQUIRIES on a credit report. Just a note, I have never been late with a payment with them because I'm onto there nonsense and switched my accounts with them to auto pay, however this has cost quite a few store cards I have, including EBAY because if I can't access to pay off the card so I can make a larger purchase on it, I just give that money to one of my cards I have no issues like this with. Too bad I can't upload screenprints of all the different types of error messages I get from Synchrony. I don't get them from any other lender or card issuer. I hope an attorney out there picks up a Class Action against them.

Synchrony Bank Major Issues

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sarahwhy
Contributor

I just wanted to recount a really terrible experience I had with Synchrony Bank today that is line with other things I'm reading in the community and elsewhere. I was approved 2 months ago for a small credit line with them. I was excited because I felt this would an easy way to pay for AirBNB's when my family does small out of town trips. The first month I set up to make autopayments and then logged in after the first payment was supposed to have processed because I didn't get an email or anything confirming it had been paid. There was no payment made. I quickly made the payment, paid the late fee, and checked everything again to make sure the autopay was set up. I assumed I had made an error. Today I logged in to check that October's payment had processed and again, no payment made. Again, I quickly make the payment and pay the late fee. At this point my balance is $430.00 out of $1500. Then I check the dashboard and it says my credit limit has been reduced to $810.00 and it is telling me the account is delinquent! I call customer service and after wasting 30 minutes on the phone with someone who couldn't tell me anything about my account, the agent forwards me to his manager who informs me that the credit limit was cut the night before, reason unknown. I was very upfront about the issues with the auto-pay and asking for helping in trying to get this fixed so it didn't happen again and the agent tells me she cannot help me. She tells me that if I want the credit back, I have to apply for it and maybe I'll get approved. At this point, I log on and check my credit and my credit score has dropped 26 points because they reduced my credit limit and this is because the percentage of what I owe to my credit limit now appears very high because they cut my credit line in half. The agent has no idea why I am being told that the account was delinquent; this only happens typically when accounts are 60-90 days overdue and both payments were made within a couple of days of the payment date. I paid off half of the balance immediately and I will pay off the other half next month and then cancel the account before any further damage can be done. I know canceling will have a negative effect on my credit but I feel as though I have no choice now as I can't trust Synchrony act in good faith with regard to my account.  In all, I am expecting to see between a 35-50 point reduction in my credit score over an account that only bumped my score about 10 points when it was awarded to me.  I have been working so hard the last year to keep raising my score because I was hoping to get a mortgage. I'm absolutely crushed that this happened and I no longer have any trust that PayPal is offering me financial products that will serve me. I have been with Paypal since they began and I have had good experiences but this latest incident, coupled with a few other disturbing experiences in the last 2 years is causing me to rethink placing financial trust in them and the products they offer. I'm really starting to feel that if Paypal wants to make business partnerships with shady actors like Synchrony Bank that maybe I just can't rely on their products any more. I'm fully aware that Paypal doesn't care if I take my business elsewhere; caring about individual customers is just not part of corporate planning, but I did want to share my experience with others to perhaps spare them from having similar damage done to their credit and to let others know they aren't alone if this happened to them.  

Synchrony Bank Major Issues

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Napoleon100
Contributor
I can’t access my credit card account either through PayPal or synchrony. I have no way of seeing a statement or accessing my points. I have to call to make any payment. Even with a payment confirmation number, I still had to argue that one payment was made. I wasted 25 hours over several weeks being transferred between both companies with no one able to actually help. As soon as it’s paid off I’ll cancel both PayPal and synchrony and forfeit my points. I used to have access to the credit card through the PayPal app. But no longer. PayPal transfers me to synchrony, synchrony says it’s a PayPal issue. Back and forth. Useless customer service.

Synchrony Bank Major Issues

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Miss_Lavender
New Community Member

I'm having the same issues. Always had problems with Synchrony - they won't give credit to women.  I think China has taken over Paypal I read somewhere.  They have a $97 refund of mine there is no way to get to.

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