Synchrony Care Credit Card

[ptatohed]

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.  

[Anonymous]

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@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.  

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[SouthJamaica]

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.

[AverageJoesCredit]

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@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. 

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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

[Anonymous]

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@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.  

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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.

[gingerflower]

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

[gingerflower]

@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. 

[ptatohed]

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@gingerflower wrote:

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

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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.  

[Dancingbear45]

@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. 

[gingerflower]

@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...