How to Cancel Your JCPenney Credit Card (2024 Guide)
Canceling your JCPenney credit card requires contacting Synchrony Bank directly by phone or mail. The cards carry extremely high interest rates of 30.24% that quickly erase shopping discounts. If you're facing a lawsuit from Synchrony over JCPenney debt, you can still settle for less than you owe.
Answer Synchrony LawsuitYou can cancel your JCPenney credit card by calling Synchrony Bank directly. You can also send a written letter to the address on your billing statement.
JCPenney remains one of America’s oldest retail chains. The store has served families since the early 1900s with clothing, home goods, and jewelry.
Synchrony Bank Sued You Over JCPenney Debt?
You have limited time to respond to the lawsuit. File your Answer before the deadline and start settlement negotiations to resolve your JCPenney debt for less.
Respond to LawsuitThe retailer offers two credit card options for frequent shoppers. Synchrony Bank manages both programs. Any account changes or closures must go through Synchrony, not JCPenney.
If Synchrony Bank has sued you over JCPenney debt, you can still fight back. Our partner Solo helps you respond and negotiate settlements.
JCPenney Offers Two Credit Card Types
Synchrony Bank issues both JCPenney credit cards. The retail store card works only at JCPenney locations and online. The JCPenney Mastercard works anywhere Mastercard is accepted.
Both cards come with shopping perks. You save 35% on select apparel, jewelry, and home items. Watches and housewares get 20% discounts. Electronics and smartwatches earn 5% savings.
Cardholders earn double loyalty points. Every dollar spent equals one point. Once you reach 200 points, you receive a $10 reward coupon.
The biggest benefit is no-interest financing on qualifying purchases. These promotional offers vary by season and product category.
Interest Rates Are Extremely High
JCPenney credit cards carry steep interest rates. The variable rate currently sits at 30.24%. That rate combines the prime rate (7.50%) plus 22.74%.
Late payments cost you $41 in fees. The JCPenney Mastercard adds more charges. Cash advances cost $10 or 5% of the amount. Foreign transactions carry a 3% fee.
You should only carry balances on no-interest promotional purchases. Otherwise, high interest erases any savings from your discounts.
Example: How Interest Erases Your Savings
Sarah buys $750 in home goods with her new JCPenney card. Her 35% discount drops the price to $487.50. She misses her $60 minimum payment by two weeks.
JCPenney charges a $40 late fee plus $15 in interest. Her $60 payment only reduces her balance by $5. She loses over 20% of her discount savings from one late payment.
The late payment also damages her credit score. Additional months with balances will cost even more in interest charges.
Closing Your Account Requires Extra Steps
JCPenney doesn’t make account closure simple. You cannot close your card through the online payment portal. Store employees cannot close your account either.
You must contact Synchrony Bank directly by phone or mail. Call their customer service line or send a letter to your billing address.
JCPenney can close your account anytime without explanation. You still owe the full balance even after they close your account.
Synchrony Bank Has Poor Customer Reviews
The Better Business Bureau shows numerous complaints against Synchrony Bank. The company manages credit programs for Amazon, PayPal, and Lowe’s too.
Many customers complain about surprise interest charges. One customer set up autopay for her promotional balance. Her automatic payments weren’t high enough to clear the balance on time. She ended up with hundreds in unexpected interest.
Random account closures frustrate other customers. Synchrony closes accounts when cards go unused for several months. The bank reserves the right to close accounts for any reason.
Think Carefully Before Opening a JCPenney Card
JCPenney cards offer real savings on retail purchases. The interest rates make them unsuitable for carrying balances. Only use promotional no-interest financing if you plan to carry debt.
To close your account, you must contact Synchrony Bank directly. JCPenney stores and online portals cannot help with closures.
The high fees and interest rates quickly erase shopping discounts. Missing even one payment can cost you more than you saved.
Settle Your JCPenney Debt and Avoid Court
Getting sued over debt is stressful. You still have options even after Synchrony files a lawsuit. Debt settlement can help you resolve JCPenney debt for less than you owe.
Creditors often accept lump-sum payments for less than the full balance. Synchrony Bank regularly negotiates with debtors who cannot pay in full. Settlement impacts your credit score, but unpaid debt hurts worse.
Follow these three steps to settle JCPenney credit card debt:
- Respond to the lawsuit with a written Answer document
- Send a settlement offer to start negotiations with Synchrony
- Get the final agreement in writing before paying
Our partner Solo guides you through each step. The platform helps you respond to lawsuits and negotiate settlements online.
What Solo Can Do for Your JCPenney Lawsuit
Solo makes resolving debt collection cases easier. You can respond to Synchrony’s lawsuit, send validation letters, and negotiate settlements.
The Answer service walks you through every question you need to complete your court response. An attorney reviews your document before filing. Solo handles the court filing for you.
SoloSettle connects you with debt collectors to negotiate settlements online. The platform streamlines the entire settlement process from offer to agreement.
Whether you face a new lawsuit or old collection letters, Solo provides the tools you need. Our partner Solo helps you take control of your debt situation.