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I have a PayPal Cashback Mastercard from Synchrony Bank. I pay my bill in full and on time. Each month Synchrony Bank does not apply my payment for 14 - 17 days, cutting off my available credit for weeks so they can earn interest on my payment. Is anyone else having this problem? Class action lawsuit potential? It is a matter of principle! Synchrony bank is bad, cares less for their customers and hurts the PayPal and Mastercard brands. Paypal should revoke their brand name on this credit card. I am considering closing this credit card account and my PayPal traditional account as I have had this issue for the last 4 plus months. I have called both groups each month, no solution or resolution in sight. Unprofessional and poor customer service just to earn additional interest at their customer's expense. I am considering filing a complaint with the Attorney General of Ohio as well.
Made a payment on the 12 of Aug but customer service rep says it wont be credited until the 29th? Who runs a credit account like this? The money is already out of my bank account, had I known this I wouldn't have opened the account. It is practically useless.
I am having the same issue. I recently opened the account and did not have this issue initially. Then I started getting on top of my payments, paying it off every 2 weeks like a responsible adult. Sometimes even multiple payments from different accounts that hold money. Then BAM! My available credit is down at 0 after 15 days. Im told that my payment from 2 weeks ago is being released tonight and my payment today (9/15) is being released in 2 weeks (9/30). Rendering this credit card practically useless. I have paid thousands of dollars all to be "held for security reasons". I am being penalized for making multiple payments. Should I send cash instead???
What is the point of this credit card if I cant use it when I pay it off? Why was I not informed of this before signing up? If you're thinking about getting this card, DONT! I need to file complaints with BBB asap.
My guess is that they are trying to get you to have checking account with them. I.E. if your money is held in one of their accounts they will credit you paypal account instantly.
same here, paid off my entire balance on February 9th, called support and they told me it was going to update my avail credit on the 29th! Because my account was new and under 6 months...
i wont be using my card until that 6 month period has expired, this is ridiculous!!
Yes, this is the second time. If I make a small payment it post quickly. However, large payment are held for over two weeks. I have other cards but this long hold on a payment has never happened before. I am not happy with this card at all!
I do understand that you have issue with money being on hold . Please reach out to the Support Team during business hours by clicking the contact us option at the bottom of PayPal page to get help with your issue. If your unable to login or are not in access of your PayPal account, you can connect with us via phone call as "as a Guest" (this does not require you to sign in to your PayPal account).
Hope this helps you!
Warm Regards, Jyoti
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