Opened Amazon Store Card in 2016. NEVER MISSED OR LATE ON PAYMENTS.
Synchrony Bank has hard hit my Credit Report twice and lowered my credit both times. $750 down to $470 a few months later in 2016. October 2018 down to $369. NEVER ASKED FOR HIGHER CREDIT LIMIT.
I have paid minimum to twice minimum each and EVERY MONTH! I bought on their “Deferred Interest Plan” in July 2018. Item was $149, used a $50 gift card, bringing total credit for Item to $104. Balance at time was $356.
Paid my July payment bring total balance to $436. Deferred Interest 6 months was August 1,2018-Feb. 1, 2019. Balance with payment January 2019 was $300.
3/1/19…Synchrony has $53 remaining on Def Int Plan with $13 Interest. I DID Change the automatic payment which SYNCHRONY marked payments to go only to balance (under “Manage My Payment Option”), to payments to go to Deferred Interest FIRST option in August before due date for first payment 8/25/2018. Balance AFTER payment on January 11, 2019 was $300. HOW WAS DEF INT PAYMENT balance $53 and Interest $13 when original balance was $372 when I made purchase, $356 after July payment (with Interest) making total $436 at time of payment AND $300 BEFORE FEB 1, 2019 deadline???
And why is SYNCHRONY BANK allowed to hard hit my credit reports anytime they feel like it? The hard hit wasn’t in July at time of order, it was in October! I WILL NOT BUY ANYTHING FROM AMAZON with no regard to the Fair Credit Act and never being late on ANY accounts I have since 2009 and at that time I had 1 over 30 days! And the and the product is not working correctly after 7 months!
This is so wrong. Anyone who offers me credit, or I apply for credit (and sometimes if I even ask for credit) do a “soft hit” where it’s not dorragatory to my credit.
Synchrony PUNISHES when payments are made on time, especially over minimum, it appears bc they are NOT MAKING ENOUGH INTEREST on me!! NEVER had that experience in 40 YEARS of credit!!