Care Credit Payment Holds

[Anonymous]

---

@Anonymous wrote:

I had an issue with another CC I had and what I had to do was get them to ring up my CU and have them confirm the payment had cleared my account and they then removed the hold on my available credit before then and there instead of holding it for 5 days. Not sure if Synchrony would do the same but it'd be worth a shot.

---

Irk, I actually brought that up and they said nope. I even pasted the actual transaction with id numbers, etc showing confirmation it was pulled and cleared. Still a big fat nope. Seems like Sync doesn't want to lose the interest they earn when a customer does the responsible thing and pays their obligation down or completely off.

[HeavenOhio]

---

@Anonymous wrote:
Seems like Sync doesn't want to lose the interest they earn when a customer does the responsible thing and pays their obligation down or completely off.

---

The other thing they did was open open my account with the card maxed out. It's almost like they're trying to create a high-risk customer. It so happens that I cancelled the card this morning.

[Anonymous]

---

@HeavenOhio wrote:

---

@Anonymous wrote:
Seems like Sync doesn't want to lose the interest they earn when a customer does the responsible thing and pays their obligation down or completely off.

---

The other thing they did was open open my account with the card maxed out. It's almost like they're trying to create a high-risk customer. It so happens that I cancelled the card this morning.

---

Yeah I hear ya with cancelling. Once I get my overall debt paid to zero (across all tradelines) in October (currently at $15k, 47% overall Utilization, 6.8 years AAOA), I'm going to do closures on cards that I have no need for starting with a couple of AF cards,  Five Sync cards(all opened 2007-08) and also two commenity cards. Nice thing is these won't affect my score since my overall Utilization in October will be 0-2%. Just another 6 months .

[Anonymous]

I had this issue with my BP credit card last month(which is backed by Synchrony). I made a payment of $714 to PIF my remaining balance. They put a 10 day hold on this payment. When I called in to ask about this they told me that this payment was put on hold because I had made 3 other payments in the month. They would prefer to see one large payment instead of 4 separate payments. It made no sense to me especially since the funds had already been withdrawn from my bank account. 

[Anonymous]

---

@Anonymous wrote:

I had this issue with my BP credit card last month(which is backed by Synchrony). I made a payment of $714 to PIF my remaining balance. They put a 10 day hold on this payment. When I called in to ask about this they told me that this payment was put on hold because I had made 3 other payments in the month. They would prefer to see one large payment instead of 4 separate payments. It made no sense to me especially since the funds had already been withdrawn from my bank account. 

---

After your $714 payment was processed (the next day), did your total balance change to $0 and your available credit was unchanged?

[UncleB]

This is either recent, or it's YMMV.

Until January (when I had to start working on sign up bonuses) I regularly put $1100-1300 on my Sam's Club MasterCard each month, and I never dealt with a payment hold. 

I always push my payments using my bank's bill pay, and a couple of days later my balance is updated and available credit is restored at the same time.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

I had this issue with my BP credit card last month(which is backed by Synchrony). I made a payment of $714 to PIF my remaining balance. They put a 10 day hold on this payment. When I called in to ask about this they told me that this payment was put on hold because I had made 3 other payments in the month. They would prefer to see one large payment instead of 4 separate payments. It made no sense to me especially since the funds had already been withdrawn from my bank account. 

---

After your $714 payment was processed (the next day), did your total balance change to $0 and your available credit was unchanged?

---

Correct.

[HeavenOhio]

I wonder if it has to do with 0% promo cards. I have a Wells Fargo card that's actually worse. Unlike Synchrony, they wouldn't tell me how to avoid the holds. The rep said he's "not at liberty to discuss Wells Fargo's risk policy" and that it's "proprietary information." All he could tell me was that I could avoid the hold by paying in a branch. On the positive side, that card came with a decent limit. But it's on the chopping block too.

[pip3man]

I think this might just be isolated to you. The last time I paid my Care Credit about 2yrs ago, the $650 balance was paid in full in one shot and the available credit/balance was updated within the next 48hrs. Even more recently, I paid my Amazon $849.92 and Lowes $2170 promotional balance in full - matter of fact my available credit on each individual account was updated immediately while the balance reflected the next day or two. Never experienced any payment hold with SYNCB, didnt even realize they do that until seeing your post.

[HeavenOhio]

---

@pip3man wrote:

I think this might just be isolated to you. The last time I paid my Care Credit about 2yrs ago, the $650 balance was paid in full in one shot and the available credit/balance was updated within the next 48hrs. Even more recently, I paid my Amazon $849.92 and Lowes $2170 promotional balance in full - matter of fact my available credit on each individual account was updated immediately while the balance reflected the next day or two. Never experienced any payment hold with SYNCB, didnt even realize they do that until seeing your post.

---

I'm not sure that "isolated" is the correct term if we're seeing multiple reports here. Plus, two of us have been told about the $500 thing. I'd surmise that the policy has been changed since the last time you made a payment two years ago.

My guess is that the other Synchrony cards you mention have a more customer-friendly policy.