- Gold Member
- Posts: 30
- Joined: Wed Mar 04, 2015 1:01 pm
- Location: USA
Working in customer service (not for Synchrony who has the Lowes card) I can tell you ours is setup *opposite* to that. We automatically direct payments first to the regular revolving balance so you don't accumulate interest, then to the promotions in order they expire. But within two months of a promo expiring, we will automatically put anything above the minimum towards that expiring promotion, Then, within one month of it expiring, we'll automatically put 100% of the payment, even the minimum, to that promo, to help ensure it won't expire and bill the deferred interest. That to me makes sense. I agree with you, it should not go to the promos first unless they are about to expire.
However, you'd be amazed at the amount of customers that accuse my company of acting illegally/unethically and trying to cheat them into paying interest for having it setup the *opposite* of what you are frustrated with in this thread. Some customers just have several promotions, then run up a regular non promotional balance and just never pay nearly enough to cover that plus their expiring promotions.
At least for my company, we offer the customer the choice to direct it any way they want for anything *above* the minimum payment due but they have to contact us to let us know that. Even with the unfortunate way that you mentioned they automatically do it on your Lowe's card, I can tell you it's a very convenient option to have that selection ability online! I wish my company offered a feature like that.
That is surprising to hear about Synchrony though, because I've had nothing but good experiences with them with my Home Appliance/etc. card through them. They've always offered ridiculously long promo periods and I've always been happy with how the promotions were managed. The company I have a card through them with actually is now only offering a new kind of promotions-- equal payment required ones where they just divide the total purchase amount and require that each month as a minimum.
**Anyways, with all that said, I definitely agree with you all on the fact that the best way to ensure you don't get hit with interest at all (due to fishy bank policies or even customer error or confusion) is to not combine promotional offers with regular purchases. The most terrible and complicated situations that our customers get into are usually when they have too many promotions to even count with both hands, with half of them expired and some regular purchases too and then some active ones with interest looming in the future. It can be a mess, especially when they wait until several months later to contact us and try to ask about payments being shifted around at that point. So make sure if you ever do need an adjustment to how payments are applied or anything, just call in as soon as you possibly can, and it's normally pretty easy to take care of, at least at my company.
Customer Service Rep for a card company
Chase Slate - $8000
Chase Freedom - $5000
Hyatt Rewards (Chase) - $2000
Citi Double Cash - $1000
UPromise Mastercard (Barclay) - $1400
Best Buy Credit Card (Citi)- $1000
Kohls Credit Card (CapOne) -$500
Target RedCard (TD Bank) -$1200
Walmart Credit Card (Synchrony) - $1000
Home Design Card (Synchrony) -$2000