Synchrony reporting

[Anonymous]

Does Synchrony report to the CRAs on a rolling basis?? I saw that they reported my new Lowes card last week the day after I was approved for it. Now I see that they have reported the $30 charge I made last Saturday. This is my first Sync account so I am not familiar with their processes. Do they report any time there is activity??

[Loquat]

They don't report after every charge...but they will report any time you make a change to you profile such as updating income.  As far as why the quick reporting now...well it depends on when the account was open.  My Sam's Club MC had a statement cut before I even got the card.  They're pretty strange like that.  And I will also let you know that in my experience, their statement closing date isn't static like say CapOne.  With CapOne my statement cycle date is locked and never changes...with Sync it seems to depend on how many days are in the month.  Like on my Amazon account...sometimes my account will cycle on the 14th of the month, sometimes the 15th, and this month it was actually the 17th.  Can't really seem to figure it out.  But again, this is my experience.  May others will chime in with their.  

[Anonymous]

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@Loquat wrote:

They don't report after every charge...but they will report any time you make a change to you profile such as updating income.  As far as why the quick reporting now...well it depends on when the account was open.  My Sam's Club MC had a statement cut before I even got the card.  They're pretty strange like that.  And I will also let you know that in my experience, their statement closing date isn't static like say CapOne.  With CapOne my statement cycle date is locked and never changes...with Sync it seems to depend on how many days are in the month.  Like on my Amazon account...sometimes my account will cycle on the 14th of the month, sometimes the 15th, and this month it was actually the 17th.  Can't really seem to figure it out.  But again, this is my experience.  May others will chime in with their.  

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Thanks for the info. They are definitely tenacious in their reporting!

[Anonymous]

This is true if you're trying to hide new accounts for a month you shouldnt have gone sync… heh.. if you are trying to build from scratch they are great for that as they pop up immediately

[UncleB]

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@Anonymous wrote:
This is true if you're trying to hide new accounts for a month you shouldnt have gone sync… heh.. if you are trying to build from scratch they are great for that as they pop up immediately

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+1

Both my Sam's Club MasterCard and Care Credit reported within a couple of days of my approval. 

As for my Lowe's and Belk, they're too old for me to remember... LOL. 

As for mid-cycle reporting, honestly I don't watch my reports that closely, but I know that Synchrony does report detailed info, at least to TU (by detailed, I'm referring to exact payment amount each month in addition to new balance).  This level of detail is "hit and miss" with my other lenders, with most simply reporting the new balance each month.

[Anonymous]

I had the same thing happen to me it reported the next day on all three reporting agenices....but for some odd reason I cant get over this 300 dollar CL TU score is 646, credit solutions said I was denied asking for 2500

[Loquat]

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@Anonymous wrote:

I had the same thing happen to me it reported the next day on all three reporting agenices....but for some odd reason I cant get over this 300 dollar CL TU score is 646, credit solutions said I was denied asking for 2500

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As mentioned by others in your other thread, just give it time.  You'll get there.  Don't stress yourself out over it...give your account a few months with some use and payments and try again. 

[joshall]

No, they do not report anytime there is an activity.

They consistently and reliably report 2-3 days after the statement closes.  One of the more consister 'reporter' I have encountered compared to Community Bank (10 days after statement closes), AE (end of each month), and Chase (NEVER!!).

Source: My own experience.  

[Anonymous]

Synchrony Bank is horrible right now.

In 20+ years of having credit cards, I have never seen a bank that is so screwed up, with worse reviews and with such terrible third world country outsourced non-existent customer service. I have never had a credit card report my credit card balance until the ,monthly statement date has passed. That's credit card 101.

Synchrony in the last 60 days on multiple credit cards is reporting BALANCES wrongly to all three CB, but my statements that just cut are at zero balance and my next statements aren't for 2 1/2-3 weeks. 

They already cost me a hard inquiry with a refi because of their screw up. This has never happened with them until the last 60 days. It's happening to others now as well. Your credit scores can and will be negatively affected by this.

Say you're like me and put $3K a month on a credit card for business and its no big deal because before the statement date every month you pay off the entire balance so when a credit card company report to the CB's it's shows a $0 balance on your credit card. We all know that's how it's suppose to work.

But what Synchrony Bank is doing to some credit card holders (not all since it's a glitch in their system) reporting the $3K BEFORE the due date or statement date to all three credit bureaus within a couple days of me using their cards. 

[RonM21]

I think this happened to me right at the very begiinning. But I only have one card with them.