topic Re: Synchrony CarCare - What are statement credits? in Credit Cards

Synchrony CarCare - What are statement credits?

Anonymous — Sun, 03 Nov 2019 01:14:19 GMT

Well my topic sorta sums up my question.. what are statement credits? I cant seem to find information for on Google but I keep seeing it on my statement, though its always 0.00. I do sometimes use this card to get fuel and soon I will be getting 400 a month in fuel so if it gives cash back it might be worth it. If not, I will just end up using one of my majors.

Re: Synchrony CarCare - What are statement credits?

HeavenOhio — Sun, 03 Nov 2019 01:18:24 GMT

A statement credit occurs when someone gives you some money and your credit card balance is reduced. Common reasons for statement credits are refunds from merchants and reward redemptions.

Statement credits of zero are odd.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Sun, 03 Nov 2019 01:20:20 GMT

Woiuldnt that show up though in the itemized section? This is separately located.

Re: Synchrony CarCare - What are statement credits?

JNA1 — Sun, 03 Nov 2019 01:23:03 GMT

It doesn’t offer cash back per se (at least mine doesn’t) but is co-branded with Summit Racing and I get offers like spend $250 and get $50 statement credit and sometimes they offer $100 statement credit on purchases of $799 or more. This is only beneficial when I’m going to buy something for that much anyway. Most of the best offers I’ve got are always after the first of year normally.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Sun, 03 Nov 2019 01:26:44 GMT

Ha I was just looking at the summit card!

Mine is just CarCare.. no cobranding or anything. Hm very odd.. maybe a generic statement cut?

Re: Synchrony CarCare - What are statement credits?

JNA1 — Sun, 03 Nov 2019 01:51:30 GMT

The Summit card has been pretty good for me. I didn’t even know anything about Car Care when I first got it. I got it because I decided to get a credit card to help boost my credit score. I asked for a $1000 CL when I got it, not really knowing or thinking anything about utilization. I bought some stuff for my GTO and used the 0% interest to gain some payment history. After I started learning about utilization and everything, I started asking for CLI’s and went from $1000 to $1000 in a span of about 9 months, so I can’t say anything bad about that at all!

Re: Synchrony CarCare - What are statement credits?

JNA1 — Sun, 03 Nov 2019 01:54:11 GMT

Of interest, my statement lists Credits, Fees, and Adjustments (net) on one line. No mention of just statement credit.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Sun, 03 Nov 2019 03:47:46 GMT

This is what it looks like for me.

Re: Synchrony CarCare - What are statement credits?

JNA1 — Sun, 03 Nov 2019 21:11:49 GMT

This is how it looks on the Summit card.

<IMG src="https://ibb.co/HYh6x2S" height="40" width="70" />

Re: Synchrony CarCare - What are statement credits?

Anonymous — Mon, 04 Nov 2019 00:45:35 GMT

Hm very weird.

I found an email function on their portal so I sent them a message asking what it is. Assuming i get an answer Ill share it here lol

Re: Synchrony CarCare - What are statement credits?

Anonymous — Tue, 05 Nov 2019 17:24:35 GMT

So I did end up hearing back from Synchrony.

Apparently there were rewards offered back on gas purchases of 1%, but that has since ended several months ago. The box for it still appears on the statements despite that.

At this point then, its not going ot be a card I use except for auto repairs because of the 6 months interest free period to pay it off. Kinda sad but oh well.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Tue, 05 Nov 2019 22:45:34 GMT

I'm wondering if this is a credit you get for using it at the gas pump?

Re: Synchrony CarCare - What are statement credits?

Anonymous — Tue, 05 Nov 2019 22:54:35 GMT

It was yea. 1% back which was automatically credited on the following bill statement. I dont use it as much for gas, as I felt my freedom card with its low limit and otherwise not really convenient for me to use, can be for buying gas lol. Same 1% back but its better its used then gets closed. Anyway, because i dont use it as much I didnt really notice the lack of rewards. I used it a lot traveling but thats been a while. Too bad really. The only reason I havent chopped mine is age and its a nice 5K limit which can be handy buying tires and such.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Wed, 06 Nov 2019 00:12:25 GMT

If that's the case I'll use it on road trips to gas stations that don't have a rewards program then, it would be a good way to put some transaction on it, I do like that their give you the 6 month 0% interest rate when you buy anything that's more than $199.

Re: Synchrony CarCare - What are statement credits?

Anonymous — Wed, 06 Nov 2019 22:31:07 GMT

well, its not on everything over 199. Repairs at shops usually yes, but if you went into a store and bought say 200 worth of stuff or gas, its not going to have that promo.

It works good for me as i have an older car that once in a while needs something done, and using this card allows me to have 6 months no interest and not use any of my major lines in the process.

I should point out that if you did get it and you were on a promo finance deal, you cant make a charge on it except one that qualifies for the 6 month promo or you will be charged interest until the entire balance is paid off. At 29.9% interest!