Synchrony Bank

Name:Synchrony Bank
Full Service Brick and Mortar Office
Review:32 client reviews
Location:200 Crossing Blvd
Bridgewater, NJ 08807

Somerset County
View Other Branches
 
Phone:866-226-5638
Branch Deposit:$891,953,000
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:5, view all, view on map
Website:www.synchronyfinancial.com
Total Assets:$79,166,443,000
Total Deposits:$57,808,450,000
Total Equity Capital:$10,606,773,000
Total Domestic Office Deposits:$57,808,450,000
Net Income:$1,563,047,000
Quarterly Net Income:$368,491,000
Return on Assets:2%
Quarterly Return on Assets:2%
Return on Equity:15%
Quarterly Return on Equity:14%
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Client Review

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

Current Employee
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by TeKKrat, Dec. 14, 2017

I have worked for the cust service front end so I handle a plethora of Synchrony's private label cards.  
I see all sorts of issues and speak with a variety of people .  
I will always try and educate people on the best way get the most of our systems and little workarounds such as ivr bypass or what to say to get us to remove delinq reporting on your credit.

If you read your bill and make sure that the doctor and you are on the same page there are rarely issues.  I know some reps are not knowledgable and and provide incorrect info.  We will always go out of our way to try and help without risking breaking legal regulations (Fairness in credit; We have to treat everyone the same at the end of the day.  
Like the most common issues are usually easily resolved by waiting 2-3 after payment posts to allocate.
I can go over so many things but I am at work now, but I feel that if people were to understand that our hands are tied on most things due to banking regulations.

If people were to read their bills or at least the terms , be a proactive consumer.
You would be suprised how many people never even open their bills or undestand how basic consumerism or credit works.  

* this reviewer has be with this bank for 1 - 3 years
* this reviewer had 1 - 2 banks before.
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Synchrony account placed on hold every month!
Overall Rating
Interest Rate and Cost
Office Environment & Staff
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by sillgate, May. 28, 2017

Every month, our account is placed on hold.  We have to call and get it fixed, only to have it happen again the next month.  I spoke with a rep last month.  She assured me that the issue would not happen again.  She told me to contact the post office because the bank was unable to send any mail to me.  We've lived at our current address for 3 years, and this issue started about 1 year ago.  No other bank, utility company, etc. has an issue sending mail.  The rep said that because our old address was on file, the post office was messing it up.  But our old address was not an issue for the first 2 years of living in our new place.  Additionally, our current address is the only one on file in our profile.  The bank keeps insisting that it's a post office issue, even though they have our current address on file.  The post office does not forward mail for 3 years.  And again, this was not an issue for the first 2 years of living in our new place.  It is clearly an internal issue and has nothing to do with the post office.  It then takes about 72 hours (3 business days) to remove the hold.  So we only have access to our money for about 2-3 weeks/month, and then we have to go through the process again.  Last month, the bank rep was placing the blame entirely on the post office and when I explained why it was an internal issue, she looked into it and found that it was indeed an internal issue.  I was then laughed at when I asked whether this would be the last time we were locked out.  Of course it would be, she said, because this rep was doing it right...but she wasn't.  We will be going into the bank on Tuesday, withdrawing all of our money, and finding a new bank.  This is unacceptable.  1 month, sure.  2 months, ok, maybe I understand.  But every month for a year, after it had been fine for 2 years...and not being taken seriously?  Not ok.  They refuse to accept any responsibility.  We would have been willing to go into the bank, talk to a supervisor to make sure the issue was finally resolved, and keep our money in there.  But because of the way we were treated, they have lost our business.  It is not only inconvenient, but it makes it hard to pay bills and other things when we get locked out every month.

* this reviewer has be with this bank for 1 - 3 years
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Merriam Customer Service Call Center at Shawnee, KS
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by nathancat 2018-03-06 16:53:57
This bank collects the money for TJMAXX - I caution everyone to end their credit card with all of the TJMAXX companies because this bank is incompetent or just thieves I not only paid my TJMAXX bill on time, my bank statement proves that I did, yet I get dunning emails and of course fees and interest on my bill. When you call- you to talk to people who cannot solve the problem, and unlike other credit cards, they don't tell you that while the investigation is pending regarding what they did with your money, the payment is suspended, they just say it will take at least 30 days to figure out what they did.
One person was less helpful than the next - So once this is straightented out, my TMAXX card will be history and I will let tjmaxx know that the bank they do business with stinks
Synchrony Bank and Living Spaces
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
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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