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Lowes Credit Card (Synchrony) - funny "reporting"

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HowDoesThisAllWork
Frequent Contributor

Lowes Credit Card (Synchrony) - funny "reporting"

Good afternoon, my fellow myFico Forum buddies!

 

So, I have a simple question (famous last words, right?) about my most recent experiences with the Lowes Credit Card.  It is not a biggie, but it is something that is - and I quote - not supposed to happen.

 

So, a little background (for context):

* I have had this card since April, 2021

* I have had a CLI or two since

* I do not really use this card all that often (usually, I use it three times a month for $10 purchases - light bulbs and the like)

* I got this card - just in case anyone is wondering - because I will be purchasing a home in the near future and I would like to get those pesky appliances at Lowes, using this card (foresight is a strength of mine - most of the time).

 

So, my closing date for this card is the 27th or 28th of each month.  I have been very mindful about my credit useage and do implement AZEO.  This card has always been a $0 Statement balance.  I want my Discover IT card to be the sole card that reports a balance.

 

Now, to the question:

 

I had a $11 balance on the 25th of January and paid it (like I have numerous times - via the Lowes on-line portal, using my NFCU checking account).  That payment posted on the 26th.  So, balance reported *SHOULD* have been $0.  However, it was not. It was the $11.

 

I kinda get that.  It was really close (my fault, I waited too long to make the payment....).  Still, should have been a $0.  Okay, whatever!

 

I then made another purchase on the 30th (again, for $13 and change).  On the 6th of February, I made another purchase ($25 and change).

 

Now, both purchases - some week apart - updated the balance reported to all three credit bureaus.  This makes no sense to me.

 

So, to succintly put this in a nice "graph":

 

1.  Janaury 25/26, 2022  -  I made the $11 payment to ensure that the balance for the closing statement would be $0

2.  January 28, 2022  -  the closing statement balance reported at $11 and change.

3.  January 29, 2022  -  the $11 payment posted (making my card balance $0).

4.  January 30, 2022  -  I made a $13 purchase using the Lowes card.  This resulted in a reported balance update (now $13). Not sure

5.  February 6, 2022  -  I made another purchase - this one $25 and change - and this resulted in a reported balance update (now, $38)

6.  February 8, 2022  -  I see (from the three credit reports pulled today - 02/14) that this account was updated on 02/08/2022 and that the balance reported is $38.

 

My concrete question - how is it possible that Synchrony is reporting updates with each purchase?  This makes ZERO sense to me.

 

So, have any of you experienced this?

 

This has never happened before.  Not to me, anyway.  I have not instigated any "off-date" reporting events (some of you may recall that I have posted about an address change when I moved nearly one year ago and how that instigated a so-called "off-date report" (at least, that is what Discover called it....).  Nothing has changed at all.

 

Just wierd - to me, anyway.

 

Thanks, y'all!

 

 

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Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Lowes Credit Card (Synchrony) - funny "reporting"

This happened to me also.  You have to pay the balance as soon as it posts or they will report it to all three bureaus. They will not report the updated paid balance until the statement closes but they will update and report all unpaid charges posted throughout billing cycle. I still love this card for the very high credit limit 30k +

Message 2 of 10
OmarGB9
Community Leader
Super Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

I've read that happening for a few months on NEW accounts, but not on accounts that are nearly a year old. Very odd indeed...


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Message 3 of 10
FireMedic1
Community Leader
Mega Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

Happened to me last month for $53 dollars. Statement posted 6 days early. The PDF bill said 28 day statement cycle. Didnt add up. Back to normal now. But is was sneaky indeed. Your not alone. Sync's ways.


Message 4 of 10
M_Smart007
Legendary Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

SYNCB is known for "off-cycle" reporting.

Message 5 of 10
Anonymous
Not applicable

Re: Lowes Credit Card (Synchrony) - funny "reporting"

Yes, it happened to me few times. Usually Sync is very slow at posting a charge and it would be in pending for few days so I couldn't make my payment right away. However, sometimes Sync is so fast at reporting the statement to 3 credit bureaus just after my payment weeks before the closing date. Maybe sometime employees are free and randomly updating our accounts.

Message 6 of 10
HowDoesThisAllWork
Frequent Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

Thanks, everyone!

 

I just find it wierd that this happens.  I have never allowed things to get this close (to the statement closing date) but this time did.  Lesson learned (not that I really needed this lesson....but to take the good from this situation, I will NEVER wait so close to the statement closing date again).

 

I really find the off-cycle updates frustrating.  And new (to me, with this card).  I specifically mentioned the Discover event way back when (almost a year ago) as there are specific events that will result in the off-cycle update (to repeat, mine was moving......so the new address was one of those events to causes this).  But dang....

 

Anyway, thanks again!  At least I am not crazy (well, that is open to discussion) or 'special' (in that others have experienced the same thing....my momma will always think that I am special....).

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Message 7 of 10
mau471
Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

I have had synchrony mid cycle report on me numerous times if I make a larger than usual purchase or use a card I haven't used in a while. It's really petty in my opinion they will report every new charge but won't report payments until the next statement cuts. 



Message 8 of 10
Trini88
Established Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"

My Lowes payment is due on February 5th, I made a $5 purchase January 30th and it posted February 2nd. I paid it as soon as it posted but guess what....Lowes reported my $5 balance on....February 2nd...3 days before the due date 😑. They then went on to report me a 2nd time on February 9th saying I paid off my $5 but guess what.....they then went on to report me a 3rd time 2 days ago for a $30 purchase I made....

Lowes is ridiculous. 3 reports in 1 month...I'm sure if I pay off the $30 tomorrow they will report me to the credit bureaus for a 4th time this month.



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Message 9 of 10
HowDoesThisAllWork
Frequent Contributor

Re: Lowes Credit Card (Synchrony) - funny "reporting"


@Trini88 wrote:

My Lowes payment is due on February 5th, I made a $5 purchase January 30th and it posted February 2nd. I paid it as soon as it posted but guess what....Lowes reported my $5 balance on....February 2nd...3 days before the due date 😑. They then went on to report me a 2nd time on February 9th saying I paid off my $5 but guess what.....they then went on to report me a 3rd time 2 days ago for a $30 purchase I made....

Lowes is ridiculous. 3 reports in 1 month...I'm sure if I pay off the $30 tomorrow they will report me to the credit bureaus for a 4th time this month.


I have noticed that their web site has had issues in the past (as an example, when they advise that there will be "regularly scheduled maintenance" and they provide a day | time for start and for end of maintenance window.  Twice in recent past that start time was on-point.  The end-time, however, was (and say this in your best Bob Euker voice) "just a little outside"!  LOL

 

Anyway, we have to take the good with the bad, right?

 

I just have never experienced this before and was curious.  Now I know.  **bleep**!  I am not special!  LOL

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