|
|
Post by Johnkenn on Jun 18, 2024 16:27:56 GMT -6
Just saw I have a promo that’s expiring in a couple days. Says I need to pay $546 to avoid deferred interest. The purchase of $598 was made 6 months ago obviously, with a 6 month no interest promo. I have another larger promo on the same card, but I’ve been paying more than the minimum payments for 6 months. So you’d think I wouldn’t STILL owe $546 on that promo, right? Oh no. They claim that the other promo is 48 months equal payments so apparently the majority of my payments have been going to that and a $300 purchase from 9 months ago (that is paid off.)
So, to recap - just because it’s says you have six months to pay for something and you pay TWICE the minimum payment, it doesn’t mean they are applying it to the soonest ending promo. Im sure there will be some people that are like “you didn’t read the 45 page fine print that details payment allocation in case of multiple promos?”
I did not. And I shouldn’t have to. That’s predatory. If I hadn’t had looked, I’d never know I’d been charged another $80 in deferred interest.
|
|
ericn
Temp
Balance Engineer
Posts: 16,086 
Member is Online
|
Post by ericn on Jun 18, 2024 16:38:30 GMT -6
Just saw I have a promo that’s expiring in a couple days. Says I need to pay $546 to avoid deferred interest. The purchase of $598 was made 6 months ago obviously, with a 6 month no interest promo. I have another larger promo on the same card, but I’ve been paying more than the minimum payments for 6 months. So you’d think I wouldn’t STILL owe $546 on that promo, right? Oh no. They claim that the other promo is 48 months equal payments so apparently the majority of my payments have been going to that and a $300 purchase from 9 months ago (that is paid off.) So, to recap - just because it’s says you have six months to pay for something and you pay TWICE the minimum payment, it doesn’t mean they are applying it to the soonest ending promo. Im sure there will be some people that are like “you didn’t read the 45 page fine print that details payment allocation in case of multiple promos?” I did not. And I shouldn’t have to. That’s predatory. If I hadn’t had looked, I’d never know I’d been charged another $80 in deferred interest. Oh yeah it absolutely is predictory, and yeah it probably is all buried in the user agreement. Are you screwed? Hell yes. Unfortunately with the emergence of these new credit services you really do need to know how your payments are allocated & sit down with the calculator to figure out what you should pay each month. Remember it is in the best interest of these companies for you to not pay it off in time, the interest is the profit & the item has to be payed off in full or you are going to get hit with deferred interest on the TOTAL AMOUNT! It sucks, it feels unfair but them’s the rules & the guys with the power to change them love donations from the financial world who they all call evil. |
|
|
|
Post by Quint on Jun 18, 2024 16:40:28 GMT -6
Just saw I have a promo that’s expiring in a couple days. Says I need to pay $546 to avoid deferred interest. The purchase of $598 was made 6 months ago obviously, with a 6 month no interest promo. I have another larger promo on the same card, but I’ve been paying more than the minimum payments for 6 months. So you’d think I wouldn’t STILL owe $546 on that promo, right? Oh no. They claim that the other promo is 48 months equal payments so apparently the majority of my payments have been going to that and a $300 purchase from 9 months ago (that is paid off.) So, to recap - just because it’s says you have six months to pay for something and you pay TWICE the minimum payment, it doesn’t mean they are applying it to the soonest ending promo. Im sure there will be some people that are like “you didn’t read the 45 page fine print that details payment allocation in case of multiple promos?” I did not. And I shouldn’t have to. That’s predatory. If I hadn’t had looked, I’d never know I’d been charged another $80 in deferred interest. I wonder if the 6 month deal works different than the 24/36/48 month stuff? I've never done the 6 month thing, but I've definitely done 24/36/48 month promos. I always pay extra, and it's always applied to whatever promo purchase date deadline is nearest. So I'm not sure what's happening on your end. That said, everything about how Synchrony operates is predatory. Very predatory. But it has allowed me to make some purchases I wouldn't have otherwise been able to, so I did it. But I'm pretty geared up these days, I don't know if keep doing these promos in the future. It's a shit ton of interest if you fuck up. |
|
|
|
Post by Johnkenn on Jun 18, 2024 16:54:23 GMT -6
Yeah - bottom line is I should have known…but I gotta be honest - I’m just going to say it…I don’t read the 45 pages of small print. I’m not really sure who does. It’s not like I’m not paying the company back - my credit rating is well over 800 FFS. It’s predatory lending. The plan is to make it tricky and confusing and reap the profit.
You all know I’m conservative…but these are the kinds of things that I think my party needs to change on. The common consumer shouldn’t have to call every month to ask a creditor to allocate your payment to a specific promo or “they get ya!” People shouldn’t lose their houses over medical expenses. How much profit is enough for the pharmaceutical industry? 200%? 1000%? How many executive orders by presidents (on both sides) are enough to where the other half of the country feels unrepresented?
|
|
|
|
Post by nobtwiddler on Jun 18, 2024 16:59:45 GMT -6
Thanks John for the heads up..
I just paid $200 on my card this morning.
I'm down to $850 on my Synchrony card, and I believe I have another 5 months, before the interest starts???
We will see.
But I'm gonna double check...
In a nutshell, the credit card industry is a total scam, they are real thieves, and the government does nothing about it.
It's kinda like borrowing from the "mob" with their VIG accruing on a daily basis. (trust me I know that deal)
Sad stay of affairs for consumers here in America.
|
|
ericn
Temp
Balance Engineer
Posts: 16,086
Member is Online
|
Post by ericn on Jun 18, 2024 17:09:53 GMT -6
Yeah - bottom line is I should have known…but I gotta be honest - I’m just going to say it…I don’t read the 45 pages of small print. I’m not really sure who does. It’s not like I’m not paying the company back - my credit rating is well over 800 FFS. It’s predatory lending. The plan is to make it tricky and confusing and reap the profit. You all know I’m conservative…but these are the kinds of things that I think my party needs to change on. The common consumer shouldn’t have to call every month to ask a creditor to allocate your payment to a specific promo or “they get ya!” People shouldn’t lose their houses over medical expenses. How much profit is enough for the pharmaceutical industry? 200%? 1000%? How many executive orders by presidents (on both sides) are enough to where the other half of the country feels unrepresented? The one nice thing I can say about PayPal credit is they give you both the minimum payment and the minimum payment to avoid deferred interest, of course this means you will see a balloon right before it’s due. |
|
|
|
Post by Johnkenn on Jun 18, 2024 17:10:22 GMT -6
Just saw I have a promo that’s expiring in a couple days. Says I need to pay $546 to avoid deferred interest. The purchase of $598 was made 6 months ago obviously, with a 6 month no interest promo. I have another larger promo on the same card, but I’ve been paying more than the minimum payments for 6 months. So you’d think I wouldn’t STILL owe $546 on that promo, right? Oh no. They claim that the other promo is 48 months equal payments so apparently the majority of my payments have been going to that and a $300 purchase from 9 months ago (that is paid off.) So, to recap - just because it’s says you have six months to pay for something and you pay TWICE the minimum payment, it doesn’t mean they are applying it to the soonest ending promo. Im sure there will be some people that are like “you didn’t read the 45 page fine print that details payment allocation in case of multiple promos?” I did not. And I shouldn’t have to. That’s predatory. If I hadn’t had looked, I’d never know I’d been charged another $80 in deferred interest. I wonder if the 6 month deal works different than the 24/36/48 month stuff? I've never done the 6 month thing, but I've definitely done 24/36/48 month promos. I always pay extra, and it's always applied to whatever promo purchase date deadline is nearest. So I'm not sure what's happening on your end. That said, everything about how Synchrony operates is predatory. Very predatory. But it has allowed me to make some purchases I wouldn't have otherwise been able to, so I did it. But I'm pretty geared up these days, I don't know if keep doing these promos in the future. It's a shit ton of interest if you fuck up. The only reason I even did the 6 month thing was because I thought I’d pay that off way before 6 months. And I did. They just didn’t apply it to THAT promo. Here’s what this dude smugly told me. I had three purchases. One $300 ish purchase on 9/23…one $600 purchase on 12/23 both of those were 6 months NPNI. I also have a $1800 purchase that’s not due until 2027… I just added it up and I have made $955 in payments since November 2023…and they say I’ve only paid down like $60 on the $600 charge. So what it looks like is the promo purchase on the $1800 was 48 months “equal payments.” So basically most of it went towards that and then the rest paid off the $300 balance…and $60 on the $600 balance. Now - stupid me - I thought I was diligently paying MORE than the minimum payment and as long as I paid on time, we were good. Stupid me. |
|
|
|
Post by Johnkenn on Jun 18, 2024 17:13:19 GMT -6
Yeah - bottom line is I should have known…but I gotta be honest - I’m just going to say it…I don’t read the 45 pages of small print. I’m not really sure who does. It’s not like I’m not paying the company back - my credit rating is well over 800 FFS. It’s predatory lending. The plan is to make it tricky and confusing and reap the profit. You all know I’m conservative…but these are the kinds of things that I think my party needs to change on. The common consumer shouldn’t have to call every month to ask a creditor to allocate your payment to a specific promo or “they get ya!” People shouldn’t lose their houses over medical expenses. How much profit is enough for the pharmaceutical industry? 200%? 1000%? How many executive orders by presidents (on both sides) are enough to where the other half of the country feels unrepresented? The one nice thing I can say about PayPal credit is they give you both the minimum payment and the minimum payment to avoid deferred interest, of course this means you will see a balloon right before it’s due. Yes! You’re right. And they’ve worked with me many a time when there’s been an issue. All of it makes me want to just go get a personal loan so Synchrony won’t get the vig. I’d probably pay 8% more…but I’m just that pissed off. |
|
|
|
Post by notneeson on Jun 18, 2024 17:47:38 GMT -6
John, for the cheap seats: this issue only affects you if you have two lines of credit open? They apply the payments in such a way as to drive deffered interest fees? That stinks.
Years ago I had this app that would auto pay my credit card timed to maximize points earning without every carrying a monthly balance. I used it on a cash back card and it was pretty cool.
Guess what happened next?
One of the big banks bought the startup and shut it down.
|
|
|
|
Post by wiz on Jun 18, 2024 17:57:17 GMT -6
Probably a cultural thing …. But since my first car loan when I was 21 I have never borrowed money for anything other than a house…and I paid that off 24 years ago.
We allocate set amounts of money each Fortnite into seperate accounts for various things…, bills, saving up for new computers new cars etc my wife is extremely studious about it and it’s been brilliant. We pay all our bills and purchases via credit card and immediately pay it off. That accumulates frequent flier points with qantas and we would have had maybe 40 free flights in 24 years.
It requires discipline but once you get going you are never behind…of course this relates to personal finances … I would borrow money for business stuff if I needed to and the tax situation was applicable.
Buy a house pay it off and the world’s your oyster.
Cheers
Wiz
|
|
|
|
Post by Quint on Jun 18, 2024 18:11:02 GMT -6
Yeah - bottom line is I should have known…but I gotta be honest - I’m just going to say it…I don’t read the 45 pages of small print. I’m not really sure who does. It’s not like I’m not paying the company back - my credit rating is well over 800 FFS. It’s predatory lending. The plan is to make it tricky and confusing and reap the profit. You all know I’m conservative…but these are the kinds of things that I think my party needs to change on. The common consumer shouldn’t have to call every month to ask a creditor to allocate your payment to a specific promo or “they get ya!” People shouldn’t lose their houses over medical expenses. How much profit is enough for the pharmaceutical industry? 200%? 1000%? How many executive orders by presidents (on both sides) are enough to where the other half of the country feels unrepresented? John, I think you misunderstood what I was saying, or I didn't say it well enough. The extra money I pay goes AUTOMATICALLY to whichever promo is expiring the soonest. I don't call Synchrony or do anything. It just happens. But I've never done the 6 month thing. That's why I was wondering if there was a difference between the 6 month promo and the lengthier promos. In my experience, it happens the way it ought to, but maybe I'd be in for a surprise if I ever did the 6 month thing. All of that said, I hate the entire financial industry. They exist to serve themselves and get rich off the rest of us thru predatory practices and downright deceptive actions. Don't get me started on payday loans, or forced arbitration, or $42 overdraft fees , or.... And when it all fails, because it always does when they build the house of cards one card too high, the average Joe is asked to pay for it all thru bailouts, just so they can do it all over again. Privatize the profits. Socialize the losses. |
|
ericn
Temp
Balance Engineer
Posts: 16,086
Member is Online
|
Post by ericn on Jun 18, 2024 18:26:11 GMT -6
John, for the cheap seats: this issue only affects you if you have two lines of credit open? They apply the payments in such a way as to drive deffered interest fees? That stinks. Years ago I had this app that would auto pay my credit card timed to maximize points earning without every carrying a monthly balance. I used it on a cash back card and it was pretty cool. Guess what happened next? One of the big banks bought the startup and shut it down. Of course they did, have to protect the golden goose. |
|
|
|
Post by Johnkenn on Jun 18, 2024 18:35:40 GMT -6
Probably a cultural thing …. But since my first car loan when I was 21 I have never borrowed money for anything other than a house…and I paid that off 24 years ago. We allocate set amounts of money each Fortnite into seperate accounts for various things…, bills, saving up for new computers new cars etc my wife is extremely studious about it and it’s been brilliant. We pay all our bills and purchases via credit card and immediately pay it off. That accumulates frequent flier points with qantas and we would have had maybe 40 free flights in 24 years. It requires discipline but once you get going you are never behind…of course this relates to personal finances … I would borrow money for business stuff if I needed to and the tax situation was applicable. Buy a house pay it off and the world’s your oyster. Cheers Wiz USA USA USA…yeah. We have a credit problem in this country. My name is John and I do it too much myself. But I’ve always paid mine back…not so much for a large segment…and guess who gets to pay for that? Everybody always dogs me for selling shit - but I’ve sold a couple Sta-levels rather than Sta in debt…hate owing for shit. But I go a little dumbass every once in a while. That’s very admirable to have that kind of discipline. Wish I did. |
|
|
|
Post by Johnkenn on Jun 18, 2024 18:54:09 GMT -6
Yeah - bottom line is I should have known…but I gotta be honest - I’m just going to say it…I don’t read the 45 pages of small print. I’m not really sure who does. It’s not like I’m not paying the company back - my credit rating is well over 800 FFS. It’s predatory lending. The plan is to make it tricky and confusing and reap the profit. You all know I’m conservative…but these are the kinds of things that I think my party needs to change on. The common consumer shouldn’t have to call every month to ask a creditor to allocate your payment to a specific promo or “they get ya!” People shouldn’t lose their houses over medical expenses. How much profit is enough for the pharmaceutical industry? 200%? 1000%? How many executive orders by presidents (on both sides) are enough to where the other half of the country feels unrepresented? John, I think you misunderstood what I was saying, or I didn't say it well enough. The extra money I pay goes AUTOMATICALLY to whichever promo is expiring the soonest. I don't call Synchrony or do anything. It just happens.. I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. |
|
|
|
Post by Quint on Jun 18, 2024 19:09:10 GMT -6
John, I think you misunderstood what I was saying, or I didn't say it well enough. The extra money I pay goes AUTOMATICALLY to whichever promo is expiring the soonest. I don't call Synchrony or do anything. It just happens.. I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. No doubt. That's what they're apparently doing. It was just news to me that they would treat the 6 month thing differently from the lengthier promos, because I haven't had this problem with the lengthier promos. By the way, check your account inbox for a recent "insert". Like in the last few months. They sent out an update. It used to be 29.99% interest. NOW they've changed it to 39.99%. That is just crazy high. I always pay my stuff on time, and have never had to pay any deferred interest, but don't know if I would make another 0% interest purchase in the future, given the HIGH cost of fucking up. Shit can happen, and it could cost you thousands in interest. www.americanbanker.com/news/synchrony-hikes-interest-rates-on-credit-cards-to-offset-late-fee-rulewww.thegearpage.net/board/index.php?threads/psa-check-your-sweetwater-synchrony-card-statements.2550641/ |
|
|
|
Post by doubledog on Jun 18, 2024 19:32:34 GMT -6
you need to get several different credit cards - like a real American.  |
|
|
|
Post by wiz on Jun 18, 2024 19:33:52 GMT -6
I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. No doubt. That's what they're apparently doing. It was just news to me that they would treat the 6 month thing differently from the lengthier promos, because I haven't had this problem with the lengthier promos. By the way, check your account inbox for a recent "insert". Like in the last few months. They sent out an update. It used to be 29.99% interest. NOW they've changed it to 39.99%. That is just crazy high. I always pay my stuff on time, and have never had to pay any deferred interest, but don't know if I would make another 0% interest purchase in the future, given the HIGH cost of fucking up. Shit can happen, and it could cost you thousands in interest. www.americanbanker.com/news/synchrony-hikes-interest-rates-on-credit-cards-to-offset-late-fee-rulewww.thegearpage.net/board/index.php?threads/psa-check-your-sweetwater-synchrony-card-statements.2550641/Holy SH(*&*(& 40 percent interest.... The mob is probably cheaper... Wiz |
|
|
|
Post by Quint on Jun 18, 2024 19:37:04 GMT -6
Retroactively, back to the point in time that you initially made the purchase... |
|
|
|
Post by Johnkenn on Jun 18, 2024 19:55:44 GMT -6
I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. No doubt. That's what they're apparently doing. It was just news to me that they would treat the 6 month thing differently from the lengthier promos, because I haven't had this problem with the lengthier promos. By the way, check your account inbox for a recent "insert". Like in the last few months. They sent out an update. It used to be 29.99% interest. NOW they've changed it to 39.99%. That is just crazy high. I always pay my stuff on time, and have never had to pay any deferred interest, but don't know if I would make another 0% interest purchase in the future, given the HIGH cost of fucking up. Shit can happen, and it could cost you thousands in interest. www.americanbanker.com/news/synchrony-hikes-interest-rates-on-credit-cards-to-offset-late-fee-rulewww.thegearpage.net/board/index.php?threads/psa-check-your-sweetwater-synchrony-card-statements.2550641/Holy FUCK. I really might just do a $2500 personal loan and pay that shit off just out of principle…Although I’d then be paying @11% interest lol. |
|
|
|
Post by christopher on Jun 18, 2024 19:57:16 GMT -6
Somehow this happened to me, and later a freind. We bought on the 0% thing, a few months later used the same card to buy a small purchase. Strings? A pedal? Strap? Things like that. Somehow next payment didn’t apply to the 0% purchase, they put it to the new purchase I guess? And now we owed the full APR back to date of purchase! Oh man, I went and read the fine print. Total gaslighting and impossible to figure out. Lesson learned.
Now it’s 40% APR? Why didn’t they just bump it to 400,000% nobody is going to hold them accountable anyway
|
|
ericn
Temp
Balance Engineer
Posts: 16,086
Member is Online
|
Post by ericn on Jun 18, 2024 20:04:15 GMT -6
John, I think you misunderstood what I was saying, or I didn't say it well enough. The extra money I pay goes AUTOMATICALLY to whichever promo is expiring the soonest. I don't call Synchrony or do anything. It just happens.. I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. I think the most important lesson from all this is the absolutely lovely additude of there customer service , complete lack of empathy & unwillingness to work for you. Now while I do agree reading the fine print would have probably been a good idea, being the absolute corporate pain in the ass I strive to be, I would call back again and ask for them to send me an email with the relevant part highlighted. There is always the chance that it doesn’t exist, I mean a corporation lie? Who has heard such things. |
|
|
|
Post by Johnkenn on Jun 18, 2024 20:09:12 GMT -6
Somehow this happened to me, and later a freind. We bought on the 0% thing, a few months later used the same card to buy a small purchase. Strings? A pedal? Strap? Things like that. Somehow next payment didn’t apply to the 0% purchase, they put it to the new purchase I guess? And now we owed the full APR back to date of purchase! Oh man, I went and read the fine print. Total gaslighting and impossible to figure out. Lesson learned. Now it’s 40% APR? Why didn’t they just bump it to 400,000% nobody is going to hold them accountable anyway Exactly what they’re doing. Makes me want to call my congressman…like that would do anything. |
|
|
|
Post by jeremygillespie on Jun 18, 2024 20:13:27 GMT -6
Somehow this happened to me, and later a freind. We bought on the 0% thing, a few months later used the same card to buy a small purchase. Strings? A pedal? Strap? Things like that. Somehow next payment didn’t apply to the 0% purchase, they put it to the new purchase I guess? And now we owed the full APR back to date of purchase! Oh man, I went and read the fine print. Total gaslighting and impossible to figure out. Lesson learned. Now it’s 40% APR? Why didn’t they just bump it to 400,000% nobody is going to hold them accountable anyway Exactly what they’re doing. Makes me want to call my congressman…like that would do anything. They’ve already got him in their pocket. Thanks for the heads up though - this is a total bullshit situation. I’d rather throw a purchase on another card- at least I’d get points or Home Depot gift cards out of it. |
|
|
|
Post by Johnkenn on Jun 18, 2024 20:16:05 GMT -6
I was sure it was that way too. That’s the reason I had no idea why I had a six month promo ending where I still owed 98% of it after paying on time and more than the minimum for the last 6 months. I was told that my big purchase was a 48 month promo with equal payments. So let’s just say $40 a month. So the first $40 every month goes to THAT before anything else. So if I averaged $75 a month, I was only paying $35 towards the FIRST 6 month promo (the $300 ish purchase from 9/23.) so unbeknownst to me, it took me TEN MONTHS to pay off that $350 while just a few dollars here and there were going towards the $600 promo. And I just saw that I also paid $95 in deferred interest in November, so I guess the same thing has happened before. The truth is, it’s presented as one payment. But it’s three payments and Synchrony - IMO - allocated my good faith payments (over minimum) in a manner that is absolutely intentionally convoluted to achieve this exact result. I talked to one agent and two supervisors and they basically told me to kick rocks. I don’t mention my credit rating to be a dick - but I mention it to say this: if they wanted a good customer, they would work with me on this. But they don’t want a good customer. They want a bad one. They want one where they get to threaten to collect so they make profit. It’s absolutely predatory and I Will Not Let Them Make A Profit On Me. Bill paid motherfuckers. No interst. I think the most important lesson from all this is the absolutely lovely additude of there customer service , complete lack of empathy & unwillingness to work for you. Now while I do agree reading the fine print would have probably been a good idea, being the absolute corporate pain in the ass I strive to be, I would call back again and ask for them to send me an email with the relevant part highlighted. There is always the chance that it doesn’t exist, I mean a corporation lie? Who has heard such things. I’m sure they’re smart enough to have their tracks covered. THIS is unfettered capitalism. Predatory. It’s the same thing that happened with the mortgage crisis with the adjustable rates. People getting 7:1 Arms and then defaulting when the $1200 a month house payment turns to $4600 a month. I mean - I don’t know how that wasn’t understood (and why I wouldn’t touch that with a ten foot pole) - but when the last time you read all the paperwork at your mortgage closing? If your lender expressly didn’t explain it… These are the kinds of things government is FOR. |
|
|
|
Post by geoff738 on Jun 18, 2024 20:18:53 GMT -6
Somehow this happened to me, and later a freind. We bought on the 0% thing, a few months later used the same card to buy a small purchase. Strings? A pedal? Strap? Things like that. Somehow next payment didn’t apply to the 0% purchase, they put it to the new purchase I guess? And now we owed the full APR back to date of purchase! Oh man, I went and read the fine print. Total gaslighting and impossible to figure out. Lesson learned. Now it’s 40% APR? Why didn’t they just bump it to 400,000% nobody is going to hold them accountable anyway Exactly what they’re doing. Makes me want to call my congressman…like that would do anything. Yeah, probably. But you know exactly what happens if you, and everyone else who got similarly screwed over don’t. Cheers, Geoff |
|
