I signed up for this card about 4 months ago because it offers 2% cash back, which was more than the 1.5% I had previously been getting. But it has been by far the most frustrating credit card I’ve ever owned, and this is entirely due to their extremely onerous security procedures.
For starts, they don’t free up available credit even after your payment is processed, for about a week. This can be a huge pain in the neck if you’re putting on some major charges.
But beyond that, they are constantly - and I mean constantly - flagging transactions as potentially fraudulent, and putting a hold on the card. I believe this is in part (though not entirely) because I have five authorized users on this account (besides for myself and my wife, I have three kids with cards) one of whom is overseas.
Today was the worst, though. They flagged the account, so a transaction got declined. When I called up to discuss, they couldn’t discuss it without verifying my identity. Problem was that they have no way to do this other than snail mail. My home line is a VOIP line, which is not considered secure, my email and cell phone are not registered with credit rating agencies. The only other option was a complicated multistep process involving some website, but it failed when the camera on my computer failed to read the barcode on my license. So the card is on hold until the letter gets to me in 7-10 business days.
I have other cards to use for the meantime, but I’m getting sick of this card altogether. What I’m wondering is 1) has anyone else encountered this type of situation with Paypal/Synchrony or otherwise, and 2) are there any other credit cards which offer 2% back (and no fee)?