Synchrony Payment HOLD

[Creditaddict]

Synchrony gets more and more obscene to deal with every day.  New Cathay Pacific Credit Card.  Made payment through them (first mistake) on the 3rd.  Payment cleared but the available is not available. I called and it's a 20 DAY HOLD... 20 days?! not 5, 7 or 10 but 20! I could walk cash to them faster!... He says no overriding the system.

The new account has a $3k spend for a bonus.

[Anonymous]

Yep this is why I always pushed payment to my Synchrony accounts. I actually made my first payment with their payment tool last month since I got my Amazon card 12/2018 because I was trying to squeak in an AZEO and my bank couldn't push quick enough. Worked out fine, no hold, but they can be really unpredictable at times. 

Also a push isn't necessarily going to get you past a hold either. They never held my push payments that I can remember but I have read of it happening to others. Synchrony is quirky like that. 

[Creditaddict]

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@Anonymous wrote:

Yep this is why I always pushed payment to my Synchrony accounts. I actually made my first payment with their payment tool last month since I got my Amazon card 12/2018 because I was trying to squeak in an AZEO and my bank couldn't push quick enough. Worked out fine, no hold, but they can be really unpredictable at times. 

Also a push isn't necessarily going to get you past a hold either. They never held my push payments that I can remember but I have read of it happening to others. Synchrony is quirky like that. 

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Yes and on days the quirky gets me $40k on a business Lowe's I like them... on a day they hold $1300 for 20 days, I hate them! Lol

[Anonymous]

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@Creditaddict wrote:

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@Anonymous wrote:

Yep this is why I always pushed payment to my Synchrony accounts. I actually made my first payment with their payment tool last month since I got my Amazon card 12/2018 because I was trying to squeak in an AZEO and my bank couldn't push quick enough. Worked out fine, no hold, but they can be really unpredictable at times. 

Also a push isn't necessarily going to get you past a hold either. They never held my push payments that I can remember but I have read of it happening to others. Synchrony is quirky like that. 

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Yes and on days the quirky gets me $40k on a business Lowe's I like them... on a day they hold $1300 for 20 days, I hate them! Lol

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Yes Synchrony is definitely a love-hate relationship in the truest sense haha. 

[gdale6]

Frankly this appears to be a violation of the Card Act/TILA,  max period I am aware of for a bank hold is 11 days.

[pizza1]

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@gdale6 wrote:

Frankly this appears to be a violation of the Card Act/TILA,  max period I am aware of for a bank hold is 11 days.

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@gdale6 , oooooohhhhh....I like your way of thinking! 

[pizza1]

Its never a dull moment in CA land with Synch, LOL!! The Bain of your existence!

[Credit12Fico]

I've had them put a hold on a push payment before....But the account was also under 6 months old. I believe sync puts new accounts in the doggy house.

[Rudy1]

I had my first hold with them 2 years ago. 10 day hold for my lowes card had to wait to buy something since at the time I didn't have a great limit. It sure is annoying.

[Guyatthebeach]

Creditaddict, 

20 day payment hold is quirky and definitely annoying. I know with new accounts, Synchrony has a history of holding large payments on new accounts to mitigate any risk.  I think 20 days is a bit much, even for them. If you have your terms and conditions, you should research it. I always thought they could hold payments for 10 business days.

Guyatthebeach