Sarah Edwards | April 04, 2023
Edited by Hannah Locklear
Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.
Summary: You can cancel your JCPenney credit card by calling Synchrony Bank or sending a letter to the address on your billing statement. In this article, SoloSuit explains what you need to know about JCPenney credit cards.
JCPenney is one of the oldest retail stores in the U.S. Since the early 1900s, JCPenney has defined the retail landscape through its wide variety of offerings, including clothing for the entire family, household goods, and fine jewelry.
While the chain has undergone several significant changes in the past few decades, it remains popular for consumers seeking quality goods at fair prices.
JCPenney offers its frequent shoppers two credit card programs, which Synchrony Bank oversees. To manage or close your JCPenney account, you must contact Synchrony Bank.
If you've been sued by Synchrony for a debt with JCPenney, it isn't too late to settle. SoloSettle can help.
JCPenney has two credit cards: a retail store card and a JCPenney Mastercard. Synchrony Bank manages the JCPenney credit card programs, including applicant approval and payments.
Cardholders can use the JCPenney Mastercard at any outlet that accepts Mastercard. They can use the retail card at any JCPenney store or website.
The cards offer a few benefits, including 35% off select apparel, jewelry, and home goods. Customers can save 20% on watches and houseware and 5% on electronics and smartwatches. They can also double their loyalty points, earning one point for every dollar spent. Once a cardholder racks up 200 points, they receive a $10 reward coupon.
The most significant perk JCPenney credit cards offer is no-interest financing on certain purchases. No-interest financing offers vary, and they’re not available for all merchandise. They change throughout the year.
Is Synchrony Bank suing you for JCPenney debt? SoloSuit’s Debt Answer template helps you file your Answer.
JCPenney cards carry high interest rates. They tie their variable interest to the prime rate, which is currently 7.50%, and add 22.74%. Currently, the variable interest on a JCPenney card is 30.24%. Late payments are subject to a $41 fee.
Individuals who obtain a JCPenney Mastercard will incur a $10 or 5% fee for cash advances and a 3% charge on foreign transactions.
If you plan on carrying a balance with your JCPenney card, it’s best to do so only on items that qualify for no-interest financing. That way, you avoid unexpected charges that eliminate your savings from purchases.
Let’s consider an example of JCPenney card interest rates.
Example: Liza applies for a JCPenney card while purchasing home goods to redecorate her bedroom. She qualifies and spends $750, saving 35% in the process. Her new total is $487.50. Liza’s minimum payment of $60 is due on October 3, but she forgets to make the payment. Two weeks later, she pays only the minimum. JCPenney charges her a $40 late fee and nearly $15 in interest, resulting in a $5 decrease in her balance. Liza’s mistake costs her over 20% of the discounts she earned from opening a JCPenney card. If she fails to pay off her balance on the next billing cycle, she’ll lose even more savings from opening the card. Since JCPenney will likely report her late payment, she will damage her credit score.
Watch SoloSuit’s video to learn how to draft an Answer to a JCPenney/Synchrony Bank debt lawsuit.
The process for closing your JCPenney card isn’t very transparent. You must write a letter to your JCPenney billing statement address or call Synchrony’s customer service department. You cannot close your account through the JCPenney card payment portal or when visiting their store.
JCPenney can close your account at any time without giving any reason. If it closes your account, you’re still on the hook for any outstanding balance.
The administrator of the JCPenney credit card programs, Synchrony Bank, has numerous complaints on file with the Better Business Bureau (BBB). Synchrony manages various other credit card programs, including Amazon, Paypal, and Lowe’s.
Many customers complain about unexpected high-interest charges when they don’t repay their balance during a promotional period. One customer charged several thousand dollars on a Synchrony card and set it up on autopay, only to realize that her payments weren’t enough to pay off the balance within the window. She wound up with several hundred dollars in interest charges.
Other customers complain about random account closings. Synchrony reserves the right to close an account for any reason. It seems to do so when clients fail to use their cards for new charges after several months.
While there are some benefits to having a JCPenney card, such as saving money on retail purchases, the interest rates are high. The JCPenney credit card is unsuitable for individuals who plan on carrying a balance unless they are in a no-interest finance plan. Consumers who want to close their accounts must contact Synchrony Bank directly.
Do you need help validating a JCPenney debt? Use SoloSuit’s Debt Validation Letter.
Getting sued for debt sucks, but you still have options, even after a lawsuit is filed. If you’ve been sued by Synchrony Bank over a debt with JCPenney, debt settlement may be your way out. Debt settlement is the process by which a debtor pays off a lump-sum portion of their debt in order to satisfy the obligation for good.
Debt collectors and creditors are often willing to work with debtors who cannot afford to pay off a debt in full. Beware that debt settlement can have a negative impact on your credit score, but nothing will hurt your credit worse than non-payment.
To settle a JCPenney credit card debt, follow these three steps:
SoloSettle, powered by Solosuit, can help you with each step and more. To learn more about these three steps, check out this video:
SoloSuit makes it easy to fight debt collectors.
You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.
SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.
>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)
>>Read the MSN story about how SoloSuit can help you settle your debt
Here's a list of guides for other states.
Being sued by a different debt collector? Were making guides on how to beat each one.
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.
Is your credit card company suing you? Learn how you can beat each one.
Going to Court for Credit Card Debt — Key Tips
How to Negotiate Credit Card Debts
How to Settle a Credit Card Debt Lawsuit — Ultimate Guide
Need more info on statutes of limitations? Read our 50-state guide.
Why do debt collectors block their phone numbers?
How long do debt collectors take to respond to debt validation letters?
What are the biggest debt collector companies in the US?
Is Zombie Debt Still a Problem in 2019?
If a car is repossessed, do I still owe the debt?
Is Portfolio Recovery Associates Legit?
Is There a Judgment Against Me Without my Knowledge?
Should I File Bankruptcy Before or After a Judgment?
What is a default judgment?— What do I do?
Summoned to Court for Medical Bills — What Do I Do?
What Happens If Someone Sues You and You Have No Money?
What Happens If You Never Answer Debt Collectors?
What Happens When a Debt Is Sold to a Collection Agency
What is a Stipulated Judgment?
What is the Deadline for a Defendants Answer to Avoid a Default Judgment?
Can a Judgement Creditor Take my Car?
Can I Settle a Debt After Being Served?
Can You Appeal a Default Judgement?
Do I Need a Debt Collection Defense Attorney?
Do I Need a Payday Loans Lawyer?
Do student loans go away after 7 years? — Student Loan Debt Guide
Am I Responsible for My Spouses Medical Debt?
Should I Marry Someone With Debt?
Can a Debt Collector Leave a Voicemail?
How Does Debt Assignment Work?
What Happens If a Defendant Does Not Pay a Judgment?
How Does Debt Assignment Work?
Can You Serve Someone with a Collections Lawsuit at Their Work?
How Many Times Can a Judgment be Renewed in Oklahoma?
Does Debt Consolidation Have Risks?
What Happens If You Avoid Getting Served Court Papers?
Does Student Debt Die With You?
Can Debt Collectors Call You at Work in Texas?
How Much Do You Have to Be in Debt to File for Chapter 7?
What Is the Statute of Limitations on Debt in Washington?
How Long Does a Judgment Last?
Can Private Disability Payments Be Garnished?
Can Debt Collectors Call From Local Numbers?
Does the Fair Credit Reporting Act Work in Florida?
The Truth: Should You Never Pay a Debt Collection Agency?
Should You Communicate with a Debt Collector in Writing or by Telephone?
What Happens After a Motion for Default Is Filed?
Can a Process Server Leave a Summons Taped to My Door?
Need help managing your finances? Check out these resources.
How to Make a Debt Validation Letter - The Ultimate Guide
How to Make a Motion to Compel Arbitration Without an Attorney
How to Stop Wage Garnishment — Everything You Need to Know
How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)
Defending Yourself in Court Against a Debt Collector
Tips on you can to file an FDCPA lawsuit against a debt collection agency
Advice on how to answer a summons for debt collection.
Effective strategies for how to get back on track after a debt lawsuit
New Hampshire Statute of Limitations on Debt
Sample Cease and Desist Letter Against Debt Collectors
The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah
West Virginia Statute of Limitations on Debt
What debt collectors cannot do — FDCPA explained
Defending Yourself in Court Against Debt Collector
Arkansas Statute of Limitations on Debt
Youre Drowning in Debt — Heres How to Swim
Help! Im Being Sued by My Debt Collector
How to Make a Motion to Vacate Judgment
How to Answer Summons for Debt Collection in Vermont
North Dakota Statute of Limitations on Debt
ClearPoint Debt Management Review
Indiana Statute of Limitations on Debt
Oregon Eviction Laws - What They Say
CuraDebt Debt Settlement Review
How to Write a Re-Aging Debt Letter
How to Appear in Court by Phone
How to Use the Doctrine of Unclean Hands
Debt Consolidation in Eugene, Oregon
Summoned to Court for Medical Bills? What to Do Next
How to Make a Debt Settlement Agreement
Received a 3-Day Eviction Notice? Heres What to Do
How to Answer a Lawsuit for Debt Collection
Tips for Leaving the Country With Unpaid Credit Card Debt
Kansas Statute of Limitations on Debt Collection
How to File in Small Claims Court in Iowa
How to File a Civil Answer in Kings County Supreme Court
Roseland Associates Debt Consolidation Review
Do Debt Collectors Ever Give Up?
Can They Garnish Your Wages for Credit Card Debt?
How Often Do Credit Card Companies Sue for Non-Payment?
How Long Does a Judgement Last?
How Long Before a Creditor Can Garnish Wages?
How to Beat a Bill Collector in Court
Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.
"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather