I purchased an engagement ring from Kevin jewelers and they finance through several different banks. One of them is Synchrony bank. The interest rate is 29.99% APR. I had a 3,000$ balance from them. I've paid it off for about 6 months now and only done the minimum payment of 100$ a month. They've been taking 70$ of the 100$ I've been paying off. So in 6 months I've only paid off 180$ and paid 420$ in interest. I don't understand what is going on? If i start paying 500$ a month instead will they just take 70% of that and still hardly make a dent in paying it all off? If anyone knows how i can pay this off faster please let me know! Thank you very much!