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 Bank in the last 60 days on multiple credit cards (Lowe's and Walmart MasterCard) is reporting BALANCES wrongly to all three CB, but my credit card monthly statements that just cut are all 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 this major screw up. It's happening to others now as well all over the country.
Your credit scores can and will be negatively affected by this. Say you're like me and run $3,000 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 each month 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 five cent system) is
reporting the $3,000 charged on that credit card BEFORE the due date or statement date each month to all three credit
bureaus and even within a couple days of me using their cards is showing up as a balance on all three credit bureaus.
Product or Service Mentioned: Synchrony Financial Customer Care.
Reason of review: Poor customer service.