topic Re: Synchrony taking 7 days to post my payments. Is that normal? in Credit Cards

Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Wed, 24 Jan 2018 14:06:49 GMT

Regarding the speed of Synchrony posting payments, What's everyone else's experience? I have a PayPal card and 7 days seems a bit on the slow side as compared to my other cards.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Wed, 24 Jan 2018 14:08:50 GMT

My available credit goes up pretty much in 1 business day. The actual payment appears to take 3-4 calendar days typically.

I did test this out recently before statement cut -- my available credit went up the next day, but the balance didn't change until well after statement cut, but they still did report the correct balance to the bureaus.

My Amazon card was enough to remind me not to get anything more with Synchrony, though. Yeesh, what a messy creditor. No surprise they used to be GEMB, another horrible creditor from the past.

Re: Synchrony taking 7 days to post my payments. Is that normal?

HeavenOhio — Wed, 24 Jan 2018 17:04:57 GMT

When I had CareCredit (from Synchrony), their policy was to put a hold on payments over $500. At one point, I made a payment somewhere over $1,000. They told me that had I split it into several smaller payments, I wouldn't have had the hold. Of course, policies could be different from card to card. It wouldn't hurt to call and ask. They may be able to tell you.

Just to offer a comparison, Wells Fargo was the opposite. They didn't hold a large payment, but they held second and subsequent payments during a statement period. What was frustrating was that their policies prohibited them from telling me how to avoid the floats. The rep was cool, though. As our conversation continued, I got the gist of what was going on. The bottom line was that if I paid in cash at a branch, payments wouldn't be held.

This behavior is near the top of the list of things that credit cards can do to annoy me. I ended up closing both accounts, and the floats were a big reason why.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Wed, 24 Jan 2018 17:19:37 GMT

My overall impression and experience with my several Synchrony cards is that they are famously s-l-o-w. I even changed one monthly bill I was charging to a Synchrony card as it always reported a balance because of the time taken to post payments. If it doesn't matter, don't worry about it. It mattered to me so I changed it. I am very cautious with my Synchrony accounts because as many of you know they can get weird.

Re: Synchrony taking 7 days to post my payments. Is that normal?

UncleB — Wed, 24 Jan 2018 19:52:49 GMT

Back when I was using my Sam's Club MasterCard fairly 'hard' ($1.3k+ each month) I would push the payment from my USAA checking, and Synchrony would give me credit as soon as it arrived (usually a two day turn-around). My available credit was also updated right away with no hold.

I have 'pull' payments set up for a few of my Synchrony accounts but I don't have any recent datapoints since I only 'pull' when I'm running up against the calendar which thankfully hasn't happened in a while.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Wed, 24 Jan 2018 21:23:43 GMT

My DW Lowes card takes 1 day. So does both my Care Credit and hers.

Another words, I/she pays today. It's updated overnight.

Re: Synchrony taking 7 days to post my payments. Is that normal?

arkane — Wed, 24 Jan 2018 22:01:17 GMT

@HeavenOhio wrote:
When I had CareCredit (from Synchrony), their policy was to put a hold on payments over $500. At one point, I made a payment somewhere over $1,000. They told me that had I split it into several smaller payments, I wouldn't have had the hold. Of course, policies could be different from card to card. It wouldn't hurt to call and ask. They may be able to tell you.

Just to offer a comparison, Wells Fargo was the opposite. They didn't hold a large payment, but they held second and subsequent payments during a statement period. What was frustrating was that their policies prohibited them from telling me how to avoid the floats. The rep was cool, though. As our conversation continued, I got the gist of what was going on. The bottom line was that if I paid in cash at a branch, payments wouldn't be held.

This behavior is near the top of the list of things that credit cards can do to annoy me. I ended up closing both accounts, and the floats were a big reason why.

Good riddance I say. Scandals aside, Wells Fargo offers absolutely nothing of value either in terms of banking or credit.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Yuruke — Wed, 24 Jan 2018 22:16:11 GMT

This is odd to me. I have the car car/synchrony card and payments/credit post within a few hours (which I admit has always seemed strange to me). So I have to say I've had the opposite experience from everyone else.

Re: Synchrony taking 7 days to post my payments. Is that normal?

polaris2011 — Thu, 25 Jan 2018 01:22:51 GMT

Similar to others here, my available credit takes a day or two max and payment takes no more than 3 days, so far. I have the PayPal MasterCard (got it mid/late Dec '18) and have only made 2 payments. After I applied and got approved, I read horror stories about this card provider regarding slow payments and early CRA reporting, so I tested them out with a couple of small online purchases over several days.

Last month, they issued my first report to all the CRAs on the 24th (a day before or after I actually got the card in the mail, I can't remember but it was pretty immediate) so I'm waiting to see if they post today for January. I'm tempted to use this card because of the 2% rewards but they gave me a comparatively low SL and I am fearful when I don't know if they'll keep a consistent CRA reporting date. Big strikes against this cards, but the plan is to use it sparingly until next year. Hopefully by then I'll get a decent CLI and a better understanding of their practices based on my own experience.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Thu, 25 Jan 2018 01:51:15 GMT

I make a payment day 1

Day 2 my available credit reflects the payment (sometimes the same day if the Authorization goes through before like 3pm)

Day 4 my payment shows as pulled from my checking account

Day 5 my payment shows in activity/balance on Synchrony site

Re: Synchrony taking 7 days to post my payments. Is that normal?

Namaste7 — Thu, 25 Jan 2018 22:54:28 GMT

@Anonymous wrote:
Regarding the speed of Synchrony posting payments, What's everyone else's experience? I have a PayPal card and 7 days seems a bit on the slow side as compared to my other cards.

OP, I experienced a similar issue. I always pushed payments to Synchrony and it was the first payment that was held. I called Synchrony and my bank because I thought an error had occurred. After speaking with several ill-informed agents, I was transferred to a manager who explained the following...

Accounts less than six months old will be monitored for irregular activity or odd payment patterns (including large payments) and at random the system will place a hold on the payment that may last up to 8 days. Despite the fact my bank confirmed that the funds were delivered to Synchrony, and Synchrony concurred, they would not release the available credit. The manager stated that no one has the authority to lift payment holds on accounts that are less than 6 months old (company policy).

With that lesson learned, I doubt I can keep this account at zero by the statement date, but I will send a payment at least 8 days prior to the payment due date until the account reaches 1 year of age.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Thu, 25 Jan 2018 22:51:02 GMT

better options?

Bill pay from the bank

Re: Synchrony taking 7 days to post my payments. Is that normal?

Namaste7 — Thu, 25 Jan 2018 22:57:03 GMT

MVPJ - For me, it was a billpay payment that Synchrony held.

I should clarify, Synchrony processed the payment the day it was received. I could see the payment on my account with a "processed" status. However, Synchrony would not adjust the available credit for 8 days.

Re: Synchrony taking 7 days to post my payments. Is that normal?

UncleB — Thu, 25 Jan 2018 23:06:52 GMT

@Namaste7 wrote:
MVPJ - For me, it was a billpay payment that Synchrony held.

I should clarify, Synchrony processed the payment the day it was received. I could see the payment on my account with a "processed" status. However, Synchrony would not adjust the available credit for 8 days.

That's an important clarification... a payment hold won't interfere with the payment posting time - the payment will still post when it is received. For those concerned with AZEO the hold won't make a difference.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Thu, 25 Jan 2018 23:10:22 GMT

@Namaste7 wrote:
@Anonymous wrote:
Regarding the speed of Synchrony posting payments, What's everyone else's experience? I have a PayPal card and 7 days seems a bit on the slow side as compared to my other cards.
OP, I experienced a similar issue. I always pushed payments to Synchrony and it was the first payment that was held. I called Synchrony and my bank because I thought an error had occurred. After speaking with several ill-informed agents, I was transferred to a manager who explained the following...

Accounts less than six months old will be monitored for irregular activity or odd payment patterns (including large payments) and at random the system will place a hold on the payment that may last up to 8 days. Despite the fact my bank confirmed that the funds were delivered to Synchrony, and Synchrony concurred, they would not release the available credit. The manager stated that no one has the authority to lift payment holds on accounts that are less than 6 months old (company policy).

With that lesson learned, I doubt I can keep this account at zero by the statement date, but I will send a payment at least 8 days prior to the payment due date until the account reaches 1 year of age.

I re-read this. I apologize

Re: Synchrony taking 7 days to post my payments. Is that normal?

tcbofade — Thu, 25 Jan 2018 23:35:13 GMT

Odd that we're all having different experiences...

For me, "pay the bills night" is usually Tueday. (I pay my Synch bills on their website...) I can log out, log back in and the available credit is immediately updated...but the balance doesn't go down until Thursday.

Walmart, Lowes, Conoco, Amazon... same pattern with each of them.... for me.

Re: Synchrony taking 7 days to post my payments. Is that normal?

Anonymous — Fri, 26 Jan 2018 16:39:58 GMT

man, you nailed it. 8 days, and then my payoff and available credit finally updated.
I really don’t care at all for that processing time, so I will be sock drawer-ing this card. thx