What is with Synchrony's reporting?

[DaveInAZ]

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@Anonymous wrote:

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@Anonymous wrote:

May or may not have any relevance, but for some reason, Synchrony reported my new PayPal 2% MC twice to Experian this month, first on July 2 and then on July 18.

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Yes, that is what is happening to my JcPenney. It hasn't happened to my other Sync cards just Penney's my PP2% has reported the same day each month, the same for my Walmart and Amazon. I've just had a look. I wonder if it is something they do when you have multiple cards with them.

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Not for me. I've had Walmart & Lowes store cards for several years, PayPay 2% MC for a year, and now they have my PayPal credit. I've never had anything report other than the statement balance when the statement cuts. (Except for PP Credit, they don't report it, like Comenity)

[Anonymous]

I think there might have been a misunderstanding earlier. When I said Sync reported my new PayPal MC twice to EX this month, what I meant was that they reported the creation of the account twice, not the current balance. I've never seen this happen for any other card I've opened, whether Sync or not.

[CreditCuriosity]

It annoying but in the long run they are probably doing you a favor.. I got caught with a 10k balance on a 12k cl once thanks to the reporting off cycle along with lowes reporting off cycle as well.. Usually with big purchases is when they off cycle report, but in the long run other lenders see this and see it paid down and bigger CL's in the future with other lenders so indirectly you might take a score ding in short term in long term it will benefit you in my opinion.

[Anonymous]

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@CreditCuriosity wrote:

It annoying but in the long run they are probably doing you a favor.. I got caught with a 10k balance on a 12k cl once thanks to the reporting off cycle along with lowes reporting off cycle as well.. Usually with big purchases is when they off cycle report, but in the long run other lenders see this and see it paid down and bigger CL's in the future with other lenders so indirectly you might take a score ding in short term in long term it will benefit you in my opinion.

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+1. I have benefited from this at times as well.

[Loquat]

If Synchrony is doing this to you and you truly want a zero balance to report, then push a payment from your bank account that'll create a credit big enough to cover your pending purchases (and do it as often as you like).  In my expereince, Synchrony will let a credit linger for 2-3 months before they issue a refund check.  This is the only sure way to make sure you don't get dinged for mid-cycle reporting if having a zero balance is truly that important to you.

[CreditMagic7]

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@CreditCuriosity wrote:

It annoying but in the long run they are probably doing you a favor.. I got caught with a 10k balance on a 12k cl once thanks to the reporting off cycle along with lowes reporting off cycle as well.. Usually with big purchases is when they off cycle report, but in the long run other lenders see this and see it paid down and bigger CL's in the future with other lenders so indirectly you might take a score ding in short term in long term it will benefit you in my opinion.

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Hi CC.

Yeah Synchrony, i noticed with those i hold, use that scheme and especially seem to not report timely when your payment clears but i experienced some nail biting delays many times. I personally don't like that since most all other cards swing your payments thru and immediately put it up on the board as a done deal. Nothing grinds me worse then stall tactics. The off-cycle just seems a scheme of sorts and not one i'm sure pays them any extra dividends but can turn some people off with the way that's handled. In better times for them past, they never bothered with off cycle. But it is what it is and another reason i rarely use mine as often as before.

[CreditCuriosity]

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@CreditMagic7 wrote:

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@CreditCuriosity wrote:

It annoying but in the long run they are probably doing you a favor.. I got caught with a 10k balance on a 12k cl once thanks to the reporting off cycle along with lowes reporting off cycle as well.. Usually with big purchases is when they off cycle report, but in the long run other lenders see this and see it paid down and bigger CL's in the future with other lenders so indirectly you might take a score ding in short term in long term it will benefit you in my opinion.

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Hi CC.

Yeah Synchrony, i noticed with those i hold, use that scheme and especially seem to not report timely when your payment clears but i experienced some nail biting delays many times. I personally don't like that since most all other cards swing your payments thru and immediately put it up on the board as a done deal. Nothing grinds me worse then stall tactics. The off-cycle just seems a scheme of sorts and not one i'm sure pays them any extra dividends but can turn some people off with the way that's handled. In better times for them past, they never bothered with off cycle. But it is what it is and another reason i rarely use mine as often as before.

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I agree there can be downfalls of this as well as if you are say on borderline of said score and you need that extra few points and them doing that can tank a persons score if near maxed depending on profile so in some way I think they do it on purpose so you are stuck with them or they feel a need to show other creditors what is owed at the moment for whatever reason I wouldn't use a major being MC/Visa with them for that reason but Care Credit the 10k i had report I dealt with now limit is higher due to paying off 10k quickly and currently have 3.2k on lowes on 18 month 0% financing which I am fine with which will be paid off during bonus time until then several hundred dollars payments a month.