Complaint Review: Synchrony Bank Orlando - Atlanta Georgia

Actually I am just a member of the "general publc" but take my finances very seriously because it is MY money.

Now much of the "general public" may not know all the details, they are aware of this. As EVERY month when they receive their statement they their payments and charges applied to the account. The statement will indicate when the billing cycle started/ended as well as what is the minimum payment is due in the current cycle. There are also several Federally mandated warnings about not making at least the minimum payment.

You obviously ignored the statement and just "assumed" the payment you made would apply to the current month. As I stated earlier you "assumed" wrong.

Thinking I am a good customer by paying ahead and more than what I am required means nothing lol.

- To put it bluntly...Yes. There are no "gold stars" for paying early or more than required. All the creditors generally care about is if you make at lest the minimum payment. Now, in re-reading your original post it appears they actually did care enough as they offered to waive the late fees as long as you made a payment to "catch up". You of course called this a RipOff because you don't think that is fair,  but again they can not legally move  the payment to a different billing period.

I am not commenting on any other issues people claim to have with this bank, my comments directly and only relate to your situation. If you want to take your issue and become some champion" for everyone else who claimed to have issues...more power to you. But if you are going to try and make some big case out of your issue, you aren't going to get very far. If you really wanted to make a change then start petitioning your Government Officials to change the Banking Regulations that define how Credit Cards work....Good Luck

Your insinuating I should have known this is Absurd. With that type of attitude you must work in the industry or you have already had a bad expierence yourself to know this. I am 69 years old and have never heard of this in my lifetime.  I thank you for Enlightening me . Thinking I am a good customer by paying ahead and more than what I am required means nothing lol. I thank you for informing me of that.  Will be doing away with this account soon lol. I have read too many seriously wrong things with Synchrony and will be doing everything in my power to see that they are investigated for bad banking policies  other than my issues with them. I have begun that process already and I suggest others out there do the same.

Credit cards are considered OPEN ENDED accounts and have specific billing cycles. By FEDERAL law charges and payments must be posted in the billing period they were received in. There is no such thing as "paying ahead" when it comes to Credit Cards. Until it is paid off, you must make at least the minimum required payment in each cycle or be subject to a late fee..regardless of how much over the minimum payments you have made.

If your due date was the 28th, most likely your billing cycle started on or around the 7th. So your payment on the 5th was likely applied to the PREVIOUS billing cycle, and if you made no payment between the 7th(or what ever date it started) and the 28th you are now considered late. This isn't unique to them this is how ALL credit cards work.

However, this is something that YOU should have picked up the first month. As when you received your bill(either by mail or electronically) it would  have shown no payment received and a payment due. If you "assumed" that the payment you made on the 5th covered that..you "assumed" wrong.