topic Re: Help w/new Amazon./Synch card account? in General Credit Topics

Help w/new Amazon./Synch card account?

Anonymous — Thu, 23 Nov 2017 18:48:00 GMT

Does Amazon/Synch report "balance updates" to CRA's every time I make a purchase...regardless of whether the balance was 'paid in full'?

Two weeks ago I was approved for an Amazon/Synch card for $1,400. The card was reported to CRA within 2 days, and before I received the card. I received the card on Monday, allowed my monthly Amazon Prime subsription to bill, and placed a small order so far. Paid the balance the next day. My balance is currently $0.00.

My first statement generates on 11/30/17. However, this morning I received 2 MF 3B alerts informing me that a "balance update" was reported for Amazon/Synch to TU and EQ for $18.00. My balance has never been $18. Why would they report a balance update before the statement, when the account was already on my CR? And report a balance that is untrue?

Has anyone else expereinced this? Am I going to have to worry about random "balance updates" every time I use my Amazon store card? I hope this is not a Synchrony thing, because if so, I will never use the Walmart store card I also received.

Re: Help w/new Amazon./Synch card account?

Anonymous — Thu, 23 Nov 2017 18:54:21 GMT

Just wanted to add...I know the statement generates next week so I can make sure it updates a $0 balance, however, I work very hard at keeping my total credit utilization reporting under 5% so I hate surprises like this. With the holidays it will be difficult, but still will try to keep util. under 10%. I may have to cancel my Synch cards after the holidays if reporting changes between statements is going to be a Synchrony bank thing.

Re: Help w/new Amazon./Synch card account?

Moneyklutz — Thu, 23 Nov 2017 19:04:35 GMT

My Amazon card only reports once a month approximately 4-6 days after the statement cut. Has done so reliably since I've had it.

I've run the utilization of my credit limit upwards of 30% a couple of times but always pay it down a week or so before the statement date.

Not sure what triggered the $18 to show on yours but I'd suspect the alert was caused by something other than that?

Re: Help w/new Amazon./Synch card account?

gdale6 — Thu, 23 Nov 2017 19:36:50 GMT

Synch is known to do mid cycle updates but usually on larger balances than $18. All their accounts can have this happen.

Re: Help w/new Amazon./Synch card account?

Anonymous — Sat, 25 Nov 2017 17:32:22 GMT

Thank you for your feedback. I guess I am just going to have to see how things go after the statement cuts.

Re: Help w/new Amazon./Synch card account?

Anonymous — Sat, 25 Nov 2017 17:51:30 GMT

Update: I recevied another MF 3B alert for my Amazon/Synch account this morning, "the balance on one of your retail accounts has decreased 61% - $18 --> $7."

That is a total of (3) times my Amazon/Synch account reported in a 10 day period. They just couldn't wait 5 days to update my balance? Smh.

Kind of glad I decided not to buy the new Dyson Animal Ball 2 from Amazon last night. I definitely do not want another balance update to report with a $307 balance, esp. not on a store card, and not when the CL is $1,400.