151 University Oaks Blvd, Round Rock, TX 78665, USA
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3.4
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I recently opened a JCP account to purchase an appliance and take advantage of the 18 months special financing for it. Done.

I also used the card to purchase a pair of jeans. Credit limit $1200. Appliance purchase, less than $750. Jeans, less than $30.

I checked my JCP card account to checj the transactions (as I do with all my accounts) and I have been double charged for the appliance, causing the account to be over the limit with no available balance to spend. Same thing for the jeans (even though they have since been returned). I called the JCP card services customer service line and spoke with a rude Jenna who told me its "pending" and would fall off in three days. Nevermind its showing as a double charge for more than one item and causing the account to be over the limit.

She completely disregarded my concern.

Well, its been pending for six days now and hasnt fallen off. The appliance will be returned (since it hasnt been delivered yet) because this type of customer disservice and bad banking puts a bad taste in my mouth.

Product or Service Mentioned: Jcpenney Credit Card.

Reason of review: Problems with payment.

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Anonymous
#1662319

Synchrony Bank SUCKS I will NEVER get Any kind of credit card from them ever again. Cancelled my JCPenney card that is at a zero balance and in perfect standing because of changes in my credit? Never heard of credit company cancelling a credit card that is in perfect standings never late in payments

Anonymous
#1738713
@Anonymous

Same here. I was in good standing with my penny’s card.

I always paid it off if I used it and was always on time.

Synchrony cancelled my card because I got behind on my house payment for a month and my credit rating dropped. That’s a bunch of ***

GrouchyCuscus184
#1618993

Plz Plz RUN FAST & FAR from ""any"" credit card backed by Synchrony Bank.. ~ seriously get out via written notification & cut the card up~ They slamed me for 1100 defered interest on a 1500 balance at the end of multiple 6 month & one 18 month promo.

Deferred-interest promos are the latest plague on the consumer credit system!!!!!!! You have no idea how complicated they are until you get bitten .. the penalty is like being in a neighbor's yard & they let their Rottweiler loose on you because you did not get out of the yard in time.. Your better off instantly transferring all ballance to a REAL Discover or Visa card offering a "non" deferred promo to avoid potentially being trapped into a retroactive surprise 35% lump sum increase on each product you purchase..

You're just another crab in a NASTY NASTY crab pot in the Synchrony system when the CONTRACT behind the card finds a way for their legal team to open up a can of whoop *** on you they all feast on your bank savings for dinner!

Trust the community, you can be very hurt if you don't. With non store credit cards you can call up near the end of the promotion & ask if they have new ones they're usually willing to sign you up which gives you plenty of time to pay it off without any retroactive knockout punch to your savings & credit rating from the store branded credit card crooks

Anonymous
#1619036
@GrouchyCuscus184

Thanks! I believe you.

The appliance has been returned. I dont have have any other SyncB acxounts...thank goodness.

GrouchyCuscus184
#1620118
@MinuteRockhopperPenguin

Yea it's a shame I like Pennys it's just most everybody's going rampant on deferred-interest to help sales. Lot's of Consumers don't realize store brand cards have always been the highest interest & now with deferred-interest..

double ouch!! You can get like 18 months+ true 0% from Visa or Discover when offering promotions & if you call to ask they are usually willing to extend them when they're about to run out without putting a noose around the customers neck & setting us on a Walmart recently stopped using deferred-interest and go with a true 0% now, the big lawsuit between them & synchrony is like Godzilla versus the Dragonfly Queen over a cut of the credit processing fees... People believe Store credit card co's would stop offering deals but their not going to go away, they also make money on transaction fees, they'll just keep changing their game plan on the uneducated consumer.. Anyways here's a good article by the National Consumer Law Center..

FOR IMMEDIATE RELEASE: November 13, 2017 As Black Friday approaches, the National Consumer Law Center warns holiday shoppers of a lurking danger in the local mall or big box store: deferred interest promotions on credit cards. These promotions entice consumers with promises such as “no interest for 12 months” or “0% interest until December 2018,” but there is a debt trap at the end. Consumers who don’t pay off the entire balance before the promotional period ends will be hit with a huge lump sum interest charge going back to the date that they bought the item, even on amounts that have been paid off. For example, if a consumer buys a $2,500 diamond necklace on November 25, 2017 using a one-year 24% deferred interest plan, then pays off all but $100 by November 25, 2018, the lender will add to the next bill nearly $400 in interest on the entire $2,500 dating back one year.

In December 2015, NCLC issued a report Deceptive Bargain: The Hidden Time Bomb of Deferred Interest Credit Cards, which details the risks and abuses of these promotions. Deferred interest promotions are offered at many stores, including Amazon, Apple, Sears, J.C. Penney, Macy’s, Home Depot, and Best Buy, where they are used to sell big-ticket items, such as electronics or appliances. The biggest credit card issuers offering deferred interest are Synchrony Bank (formerly known as G.E.

Capital), Comenity Capital Bank, and Citibank. While there are a number of well-known retailers that offered deferred interest, one prominent retailer has dropped the product: Walmart, which instead offers true 0% interest promotions. “Deferred interest promotions are one of the biggest credit card traps on the market today,” stated National Consumer Law Center staff attorney Chi Chi Wu, who authored the report. “Avoid them at all costs.

No interest sounds tempting now, but you could end up in the trap of huge interest payments later.” Wu also encouraged retailers to follow Walmart’s lead, stating “If the world’s largest retailer can eliminate deferred interest, so can other companies, some of whom have much higher margins on their goods.” In addition to Walmart, at least one credit card issuer has taken significant steps to stay out of the deferred interest business-- Capital One sold off the Best Buy card portfolio that it acquired from HSBC and does not offer deferred interest cards. Wu noted that the Federal Reserve Board found that the plans were so deceptive that the Board banned them in 2009, but then reversed itself under pressure from retailers. The CFPB has also called the plans “the most glaring exception to the general post-CARD Act trend towards upfront credit card pricing.” Pitfalls of deferred interest plans include: Confusion and deception. It’s hard to understand the complicated and confusing nature of these promotions.

Minimum payments don’t pay off the balance. If you make only the minimum payment, you’ll inevitably be hit with retroactively assessed interest. “Life Happens.” One of the biggest risks with deferred interest is when something unexpected happens, like a job loss or serious medical condition, and you can’t pay off the purchase by the end of the promotional period. You’ll be socked with a huge lump sum of retroactive interest at the worst possible time, when you can least afford it.

High Annual Percentage Rates (APR)s. Deferred interest credit cards typically carry very high interest rates, with an average of 24% and as high as 29.99%, compared to a typical APR of 14% for mainstream credit cards. Difficulty avoiding retroactive interest if you make other purchases. A particularly thorny problem happens when you make another purchase using the same credit card that does not have a deferred interest promotion.

Most of your payments above the minimum will be applied to the other purchase, making it nearly impossible to pay off the deferred interest balance, unless you make special arrangements with your credit card company. Wu urged that deferred promotion plans be abolished, stating “Eight years after the passage of the Credit CARD Act, it is well past-time to get rid of one of the last tricks and traps for credit cards.”