topic Re: Synchrony Care Credit Card in Credit Cards

Synchrony Care Credit Card

gingerflower — Sat, 29 Jun 2024 18:09:42 GMT

Hello Fico friends, got an email from Synchrony Care credit stating change of terms on account. I could not believe the Apr increase from 21 Apr% to 32 % that is crazy. No negatives on my credit reports payments always paid in full. Score 790 on all 3 CB. If it was not for the sizeable $20,000 CL I would have definitely close the account. Been with care credit for 8 yrs started with the regular Cc then was automatically upgraded to the MasterCard. Oh well, thought I'd share my Synchrony dilemma.

Re: Synchrony Care Credit Card

Anonymous — Sat, 29 Jun 2024 19:52:59 GMT

@gingerflower wrote:
Hello Fico friends, got an email from Synchrony Care credit stating change of terms on account. I could not believe the Apr increase from 21 Apr% to 32 % that is crazy. No negatives on my credit reports payments always paid in full. Score 790 on all 3 CB. If it was not for the sizeable $20,000 CL I would have definitely close the account. Been with care credit for 8 yrs started with the regular Cc then was automatically upgraded to the MasterCard. Oh well, thought I'd share my Synchrony dilemma.

But have you ever used that APR, rather than interest free or one of the other options? While 32% is horrible, 21% isn't that great to pay either.

Re: Synchrony Care Credit Card

GreatLife — Sat, 29 Jun 2024 20:03:57 GMT

Received my APR increase notice about 7 or 8 weeks ago. Fortunately my balance was already $0 and will remain so..I have the Mastercard version and keep getting 4x reward offers, which is probably a hint to either use it or lose it. I'll use it for a small purchase then pay in full prior to new statement. This isn't a balance carrying card unless using a 0% promo.

Re: Synchrony Care Credit Card

gingerflower — Sat, 29 Jun 2024 20:14:16 GMT

@Anonymous I always used the 21% and interest free during Vet or my Dr . Appts and pay of before 6 months so it was fine for me. But, the thought of hiking the Apr from 21%to 32% got me upset.

Re: Synchrony Care Credit Card

gingerflower — Sat, 29 Jun 2024 20:24:37 GMT

@GreatLife I to got the notice of change to my account. Like I mentioned if it was not for a nice CL $20,000 I would have definitely close the account MasterCard version or not. I enjoy the Cc because it pays for my Dr. Visits, Dental and Vet service plus I use the cash rewards for statement credit. I always use the 6 or 12 months promo and pay in full before promo ends.

Re: Synchrony Care Credit Card

MissLiz — Sat, 29 Jun 2024 21:40:23 GMT

Oof. 32% is wild.

Re: Synchrony Care Credit Card

gingerflower — Sun, 30 Jun 2024 01:54:15 GMT

@MissLiz Yes it is crazy but with a CL of $20,000 kinda hard to close account. Besides like I mentioned I use the

card for Dentist, Vet and my Dr. and the rewards I put towards statment credit.

Re: Synchrony Care Credit Card

FicoMike0 — Sun, 30 Jun 2024 02:42:30 GMT

In not familiar with care bear credit card. Do they offer lower interest financing for healthcare? Is it like other sync deals, if you're a day late or a dollar short, the hit you with interest charge from day one at an enormous rate?

Re: Synchrony Care Credit Card

Anonymous — Sun, 30 Jun 2024 03:42:23 GMT

@FicoMike0 wrote:
In not familiar with care bear credit card. Do they offer lower interest financing for healthcare? Is it like other sync deals, if you're a day late or a dollar short, the hit you with interest charge from day one at an enormous rate?

Yes

Re: Synchrony Care Credit Card

gingerflower — Sun, 30 Jun 2024 04:16:39 GMT

@FicoMike0 Yes the care credit card offers promo 6, 12, 18 months and yes they do hit you with a day late or dollar short. You can use the Card wheverever health, vets or dental are accepted. I have the MasterCard so I can use Cc anywhere. Hope this helps.

Re: Synchrony Care Credit Card

ptatohed — Sun, 30 Jun 2024 06:29:01 GMT

I guess I was not using my Care credit card enough so they recently CLD'ed me. No big loss. i don't even bother to put the card in my sig. I had used it when our now 3 yo puppy had parvo some 3 years ago, they later sent us the MC unsolicited, after we paid off the bill at 0%. I think I used it one more time after that when they offered 5% on certain cats. This was maybe 2 years ago.

I take a very different approach to APR than some of you. When I see high APRs I think to myself 'Great, this issuer is going to make a lot of money off this card from other people, and I (selfishly) will be able to keep receiving rewards from this card'! If I had the choice between a 2% CB card at 7.99% APR or a 2.5% CB card at 99.9% APR, I'd take the 2.5% card without hesitation.

Re: Synchrony Care Credit Card

Anonymous — Sun, 30 Jun 2024 07:14:13 GMT

@ptatohed wrote:
When I see high APRs I think to myself 'Great, this issuer is going to make a lot of money off this card from other people, and I (selfishly) will be able to keep receiving rewards from this card'! If I had the choice between a 2% CB card at 7.99% APR or a 2.5% CB card at 99.9% APR, I'd take the 2.5% card without hesitation.

Re: Synchrony Care Credit Card

SouthJamaica — Sun, 30 Jun 2024 15:57:28 GMT

I don't like the Care Credit card. When I had it, these were the factors I didn't like:

1. When I was on the promo period, it was charging the Doctor, Dentist, or Vet interest at a humongous rate.

2. It's designed to be used in health care emergencies or unanticipated events, but I found that when I did try to use the card after a period of nonuse it had been frozen for nonuse.

3. The only way to keep it active was to make small purchases at a Rite Aid, but then I was getting no rewards when I could have been using a rewards card.

In addition to the above, it's with Synchrony, which I don't consider highly reliable.

Re: Synchrony Care Credit Card

AverageJoesCredit — Sun, 30 Jun 2024 14:33:34 GMT

@gingerflower wrote:
Hello Fico friends, got an email from Synchrony Care credit stating change of terms on account. I could not believe the Apr increase from 21 Apr% to 32 % that is crazy. No negatives on my credit reports payments always paid in full. Score 790 on all 3 CB. If it was not for the sizeable $20,000 CL I would have definitely close the account. Been with care credit for 8 yrs started with the regular Cc then was automatically upgraded to the MasterCard. Oh well, thought I'd share my Synchrony dilemma.

Yeah this seems to be the norm now. Just received updates to my Macy Amex in regards to the apr jumping over the 30% mark. Unfortunately for many , myself included, not everyone can pay in full everything and this is going to catch up to many so things probably won't get better . In regards to Synchrony it's a shame one has to walk on eggshells just because lol but that's what I do with any Sync accounts. No matter how good their promos can be they are a case where PIF is a must. Good limit though

Re: Synchrony Care Credit Card

Anonymous — Sun, 30 Jun 2024 17:20:07 GMT

@ptatohed wrote:
If I had the choice between a 2% CB card at 7.99% APR or a 2.5% CB card at 99.9% APR, I'd take the 2.5% card without hesitation.

Just a PSA: NEVER DO THIS! Cards above the legal maximums are often (ultimately) issued by one of our competitors, HJBC Bank PLC.

HJBC is the new legal name after the original name, "Honest Joe Bone Crusher" attracted too much attention from the busy bodies in law enforcement circles.

Anyway, @ptatohed would be happily using the card, paying in full every month, perhaps vaguely wondering exactly when and where the 2.5%CB was going to post, when in the middle of the night the front door would be knocked down and three large, um, gentleman, would tell him "We want our money" It turns out that protestations that it was paid, and offers to show the payment records on the computer would be to no avail and, well, .... As I said, don't do this. Stick to the quality products from LTL Bank, where we promise to be inside the law, just.

Re: Synchrony Care Credit Card

gingerflower — Sun, 30 Jun 2024 18:02:26 GMT

@ptatohed Sorry for your CLD have you tried reinstating your CL ?

Re: Synchrony Care Credit Card

gingerflower — Sun, 30 Jun 2024 18:21:45 GMT

@AverageJoesCredit

Hello my friend, I agree I use the Care Cc with the promo and pay off before promo ends. I was going to close the acct after seeing the Apr increase but $20,000 and MC version I decided to keep Cc. Regarding Macy AMX I sure hope I don't receive a letter of changes to acct meaning Apr change. Currently my APR is 20% will see.

Re: Synchrony Care Credit Card

ptatohed — Mon, 01 Jul 2024 06:55:58 GMT

@gingerflower wrote:
@ptatohed Sorry for your CLD have you tried reinstating your CL ?

Nah. Not that important.

It's probably already been CLD'ed and I didn't notice. Because I am pretty sure it was $10,000 originally and this alert was that it went from $4,000 to $1,000.

Re: Synchrony Care Credit Card

Dancingbear45 — Mon, 01 Jul 2024 15:50:32 GMT

@gingerflower

Wow 😮 30% is insane. I thought the main point of this card is to help people pay for medical expenses for their pets as well as themselves.
I think the "care" originally in this card has left the building... So sad. Nice CL though. I'd keep it active for regular visits and PIF. Don't want to lose that for sure.
Hopefully they will still run some promo campaigns that allow see interest if paid in full by specified date contingent on meeting dollar amount tiered thresholds.
I'm unfamiliar with the terms of the card but I've seen the pamphlets at our vets office. I've wondered about the terms.

Guess it's a hard pass for me. I don't anticipate ever paying interest but if the situation was extreme it could create a huge financial burden. But I guess that's when personal loans come into play.

Re: Synchrony Care Credit Card

gingerflower — Mon, 01 Jul 2024 16:24:27 GMT

@Dancingbear45

The Care credit card is helpful with Vet, dental and other medical visits. Like I mentioned I have the Mc version card where I can use it anywhere. The Cc have cash rewards where you can redeem for statement credit or deposit to your bank. I always use the promo offer 6, 12, 14 , 24 so its not to bad. I have 5 Synchrony bank Cc's so far only my care credit Apr increase. Oh well...