Amazon store card payment issues ?

Bees18 · ‎09-10-2018

Hi I was reading reviews for the Amazon store card and was shocked to see it had like 1 star reviews and thousands of complaints.

I want this card because we are heavy amazon users, but this kind of made me not want to get it.

A lot of complaints were from people with no missed payment an even long histories with the card that carried a balance, then when they made a large payment on the card sync then slashed their credit limit...and sometimes then closed it hurting their credit.

ive also heard this about other sync cards. Why would they reduce your limit for paying off your balance on a credit card? Shouldn't they want that?

What is a safe limit to carry on a snyc card and for how long before they would do something like this? Some of the reviews said they only carried a balance over the holidays and a few months later paid a large payment and that started the limit to be slashed.

Revelate · ‎09-10-2018

If you are heavy Amazon users with solid credit why not the Chase cobrand for Amazon? 5/24 or similar preventing you on that?

With the addition of Whole Foods to the 5% category, I suspect Amazon may continue to improve the card over time actually as they continue to get into new ventures.

Oh jeez just checked I have $286 and change still saved up there haha. I so need to get better at spending my rewards.

Physh1 · ‎09-10-2018

My point of view on this tends to relate to people who carry too much credit with sync. Multiple cards, high reporting balances, & large payments can spook them as it draws attention to your accounts.

I have this card, I've had it for 3 years, & have a 10k limit on it. I buy a fair amount on it & carry a balance on occasion. I've carried over balanaces of 500-1000 regularly, made consistent payments, & have never had an issue.

This card, as well as most if not all sync cards, are guided towards people with mediocre/poor credit. High balances & weird payment activty will get you on their radar.

You could look at Chase's Amazon card too....I have that as well & prefer it in most cases.

HeavenOhio · ‎09-10-2018

OP, you have to evaluate each review on a case by case basis. Disregard any reviews that say stuff like, "Those blankety blanks closed my card; I only had two 60-day lates." Definitely look for a common theme like you did.

I think you'll be fine if you pay in full and do occasional 0% deferred interest. If you're using deferred interest, make sure you're paying well over the minimum each month. If you have a 6-month payment term, divide your balance by 5, pay approximately that amount each month, and be paid off a month early to make sure all the dust has settled well ahead of time.

Also, make sure you understand how payments work when you're combining 0% interest with new charges that you'll want to pay in full.

And last but not least, never, ever carry a balance on a Sync card unless there's 0% interest. The APR is astromical.

AverageJoesCredit · ‎09-11-2018

1 star reviews? Lol, not buying it. There is always something not being said behind those reviews. People bash Sync all the time but if you pay on time and use it normally you shouldnt have issues. Always oddities can pop up . But same thing happens with Chase. People get cards closed or slashed for variety of reasons. 5% is 5% so get the card that suits your needs

pinkandgrey · ‎09-11-2018

I've had no issues with mine and I don't have a long and beautiful credit history. I've never missed a payment, but my income isn't sky-high and my history is only a few years. Just like any other card, not maxing it out, paying on time, and being responsible usually will keep you out of trouble. I admit, there may be legitimately unfair circumstances for some people concerning this card, but if you look at the reviews, a lot of them say things like, "I NEVER missed a payment....except for that ONE time." It's a good card for Amazon shoppers, especially Prime!

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Anonymous · ‎09-11-2018

@Revelate wrote:
If you are heavy Amazon users with solid credit why not the Chase cobrand for Amazon? 5/24 or similar preventing you on that?

I have both the Chase and Amazon store cards and to the bet of my knowledge the Chase version still does not have the special financing options available that the Sync version does.

As for the store card specificlly I have had it for over a year so far and have zero issues with it to this point. It started at $800 and has grown to 8K in the year since opening. The ease of CLI's with Sync is a nice benefit. I've run up the balance before but not overtly and have made both large payments and smaller ones with no issues.

A lot of the Sync bashing can, more times than not, be traced back to something the user has done. Not always mind you but sometimes. Making minimum payments on a nearly maxed out card, not using it for extended periods of time, being irresponsible with other lenders (yes these companies can see that) etc. etc.These can raise flag with most lenders not just Sync.

I will add that when an account is new and you make a hefty paymen it can take longer to go through but it's not that big of a deal.

jim44 · ‎09-11-2018

@HeavenOhio wrote:
OP, you have to evaluate each review on a case by case basis. Disregard any reviews that say stuff like, "Those blankety blanks closed my card; I only had two 60-day lates." Definitely look for a common theme like you did.

I think you'll be fine if you pay in full and do occasional 0% deferred interest. If you're using deferred interest, make sure you're paying well over the minimum each month. If you have a 6-month payment term, divide your balance by 5, pay approximately that amount each month, and be paid off a month early to make sure all the dust has settled well ahead of time.

Also, make sure you understand how payments work when you're combining 0% interest with new charges that you'll want to pay in full.

And last but not least, never, ever carry a balance on a Sync card unless there's 0% interest. The APR is astromical.

Trying not to get off topic.... look at the product reviews on Amazon for items purchased. Many bad reviews comes from problems buyers have had with delivery lates, mishandling of items by a shipper, and some return problems and not the merchandise itself. Same goes with Amazon store card. I requested a $2000 cli several years ago with a less than stellar CS and was granted the increase. I was carrying a $29 balance and have never charge another $ to the acct. I would give the card a 4 star... and not a 5 because of the high apr.... but that doesn't make a bit of difference for anyone who pays in full or uses their promotional offers.

Anonymous · ‎09-11-2018

Yeah, my observation with Sync is that they don’t tend to take AA against normal users- though they tend to be unforgiving when you do slip up or do something to spook them, and that you can expect more stability from almost any other issuer.

That being said, I do have the store card, and I haven’t had a problem myself. I’ll run maybe a few hundred through the card, and I’ve seen my CL grow from 1.7k to 10k in 3.5 years. However, if it were today, I would go for the Chase card because I’d prefer to deal with them for a variety of reasons (I opened this card right when they introduced the 5%, and before they did it on the Chase card). At the same time, I don’t see any reason to take the hit to my AAoA for a preferable issuer and 5% at WFM... so I’m not going to switch at this time.

jim44 · ‎09-11-2018

Something else you may want to consider OP.... not all Synch cards promotions are alike. I had a late payment on a RTG card, less than a week and Synch forgave the LF and I was told this wouldn't kick me out of the promotional period. I noticed that some promotions charge interest from the beginning of the period if you don't pay the entire balance by the period end. Others will just charge interest of any remaining balance at the end of the promotional period.