Synchrony Bank

Name:Synchrony Bank
Full Service Brick and Mortar Office
Review:30 client reviews
Location:200 Crossing Blvd
Bridgewater, NJ 08807

Somerset County
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Phone:866-226-5638
Branch Deposit:$641,193,000
FDIC Cert:#27314
Established:2001-05-14


The Bank

Name:Synchrony Bank
Concentration:Credit-Card Specialization
Established:1988-08-01
FDIC Insurance:1988-08-01
Charter Class:Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
# of Branches:3, view all, view on map
Website:www.synchronyfinancial.com
Total Assets:$62,858,185,000
Total Deposits:$48,166,538,000
Total Equity Capital:$8,186,366,000
Total Domestic Office Deposits:$48,166,538,000
Net Income:$1,533,541,000
Quarterly Net Income:$388,233,000
Return on Assets:3%
Quarterly Return on Assets:3%
Return on Equity:20%
Quarterly Return on Equity:19%
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Client Review

30 client reviews of Synchrony Bank scored 1.5 out of 5.

Synchrony Bank and Living Spaces
Overall Rating
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by sweetschera, Aug. 01, 2015

After nearly two years of payments thinking I had almost paid off my furniture from living spaces I found out I missed the interest free deadline. I now own Synchrony Bank $3079 on Items that orginal cost me $2400. I probably would not have had a problem with that until I realized yesterday that I have paid $1923. and still have a balance that Exceed the orginal cost of the furniture by $700.00. Last month my  Balance was $3079 with interest and finacne charges I paid $150 and guess what my balance is now? That's right! $3079 Now please keep in mind The $1923 of payments I made over the two year period did not apply to my principal at all. Basic synchrony took the $1923 and charged me an additional $700 plus penalties just to close this account which I am trying to do now. I have had several account with GE CAPITAL AND NEVER ENCOUNTERED THIS PROBLEM PLEASE BEWARE!!!!

* this reviewer has be with this bank for >10 years
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Synchrony Bank at Draper, UT
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Would not have believed it could get THIS bad
Overall Rating
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by Anna01, Mar. 13, 2015

Synchrony Bank took over my 2 charge accounts at HH Gregg and Lazy Boy (from GE Capitol)Because this review can only hold 10000 charact. will summarize:
1) Bank needs English speaking reps. Not pidgeon not Engrish
2) Bank needs to get its logistics straight so printed statements match on line info as well as automated system
3) Bank makes frequent basic data entry mistakes but will not owe up to it EVEN if and when you as a customer involve your personal bank to help you get them straight- my credit is seriously tarnished due to Synchrony Bank (ex: printed statement and automated system show payments have been received.. telephone calls FROM Synchrony (start at 6 AM and go thru 10PM landline and cell) say otherwise...)
4) When calling the automated system, it immediately LIES: it states that "this is the most current info avail. to the system and to the reps." and , it warns "that transactions that occurred in the last 24 hours may not be reflected".  The LIE= it can take (and has!) 5 days (that is 120 hours, not 24 hours) for the reps or the system to acknowledge receipting and receiving a payment. So those phone calls on all your phones all day and night are made even after (up to 5 days after) they have receipted and received payments in full.

* this reviewer has be with this bank for <6 months
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Synchrony Bank at Draper, UT
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by BlackCoffee 2015-03-16 16:06:07
Bank compiles unauthorized credit reports resulting in lowering the FICO score. An unethical conduct without consumer acknowledgement.
This bank Sucks!!!!
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Interest Rate and Cost
Office Environment & Staff
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by hatethisbank, Aug. 19, 2014

GE Capital now Synchrony Bank sucks!!!! I have 6 accounts with these folks :-( and I was late two months on three of them because I lost my job. I called each one and told them why I was behind and as soon as I got the accounts caught back up they cancelled one saying I was behind, they cancelled another saying I never used it so they decided to close it, and they lower the credit limit on the other saying they reevaluated my credit history. I'm getting hit multiple times for the same issue from 4 months ago. All this was done after having each account less than 6 months. All they have to say is the system makes the decision as to when the evaluate a consumer credit report, but humans are the ones who set the system up. Customer service kept blaming everything on the system and apologizing for the system errors (blah blah blah). Then they had the nerve to say that I can have them run my credit again to see if I qualify for an increase (that was dumb as hell) considering the fact that the supposedly system was the problem from the start and it lowered my credit limit, cancelled my account and closed the other. Synchrony Bank sucks and I will be persuing other measures!!!

* this reviewer has be with this bank for <6 months
* this reviewer had 3 - 5 banks before.
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