I've dealt with Synchrony Bank twice. Both times
have been a terrible experience.
Once year ago for a Yamaha Waverunner Loan and the second time for a Suzuki Outboard Engine loan... because it was the only option for financing through the Suzuki Dealer.
I have 700+ credit score.
First ... They are a little Mickey Mouse lender … without an online platform… so you can’t login to make payments … no email statements ... it all old school...... YES, you have to mail them in. Who writes checks anymore?
On top of that…. They are one of the most dishonest lenders on the market. I understand that they make money by charging you ridiculous fees and making up fees…. and they are VERY good at that.
Unfortunately, the second time ..... I paid $350 payments for about 4-5 months, then I made a $9500 payment to pay the loan off in its entitreity... because I didn't want to deal with them..... The statement balance was $9500. I sent in $9500.
Then I get another statement in the mail with a $104 fee. “Oh well, we charge daily interest… so from the last statement balance, to the few days after when we received the payment this was the interest accrued” ….. WTF ? Is your interest charge 8,000% ?
Piece of shit crooked lender. Stay far far away.… show more
Reviewed by: @duprade