And yet another synchrony accounts locked thread

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Both my Lowes and Walmart cards are due for CLIs.  Both are at $6k.  Both were denied the expected CLIs.  I am waiting on the letter.  I did notice the Walmart denial was a bit different than the usual denials that yiou get when you get the "not enough time at your current credit limit" letters, something about not being able to process the CLI in that specific way.  I thought it was strange, but was in the process of closing the window when I noticed it.

I will let everyone know what the letters say when they start arriving.

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I also got a strange message like that when I tried for a CLI on my Amazon card the other day. I can't remember the exact words, but I got the feeling it was some type of system error because it was different than any other messages I'd received before. I haven't had an increase on this card in over a year, and I try every 4 months or so, but after all the lock-outs with them I am really regretting trying the other day, and definitely won't be asking again anytime soon.

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Just a thought, but until we all figure out what is going on - may be best not to do anything to draw unneeded attention to your accounts at this time (CLI requests, adding AU's, etc). I remember when the advice was given to avoid drawing attention to Comenity accounts- seems the same good advice would apply to Synchrony accounts at this time.

Really disappointed and sad to see this happening to those affected. There may be a very broad brush with which their algorithm is sweeping along - so we may not be able to find a common thread. At this point, FICO's, payment history, and balances (mostly PIF) seems to be pretty solid from those who have reported frozen accounts.

I think the most irritating thing in all of this is that they involve Lexis Nexis in the 4506 t situation and share information with them, which means it gets shared with a lot of others we have no control over and don't know about. That's just wrong.

[Anonymous]

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@UncleB wrote:

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My Sam's Club MC is my 'go-to' for fast food, so I guess I'll be checking it again before lunch to make sure there are no 'surprises'. 

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+1 UncleB. Really sad that they have put us all in this situation to be checking our accounts to see if they are ok. That's not what you expect to have to do when you have been a responsible, very good customer with a solid payment history and solid FICO score.

[Anonymous]

Looks as if people's personal (and private) tax information is going directly to LexisNexis, who can then share it with anyone they choose, since they are a 3rd party collector of information and definitely do share the information they collect with others:

I can't post a link here to due myfico posting rules, but do a google seach for Synchrony and 4506 TEZ request and you will see what I mean. It's the first listing that comes up in a google search. Be sure to use all of the search terms listed in bold above.

You really need to take a careful look at the above before deciding to release your 4506t to anyone!

Personal information being out there without any control over it is not a good idea.

[Anonymous]

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@Anonymous wrote:

Looks as if people's personal (and private) tax information is going directly to LexisNexis, who can then share it with anyone they choose, since they are a 3rd party collector of information and definitely do share the information they collect with others:

I can't post a link here to due myfico posting rules, but do a google seach for Synchrony and 4506 TEZ request and you will see what I mean. It's the first listing that comes up in a google search. Be sure to use all of the search terms listed in bold above.

You really need to take a careful look at the above before deciding to release your 4506t to anyone!

Personal information being out there without any control over it is not a good idea.

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Points to consider before deciding whether or not to submit the 4506t:

Looks as if a LOT of banks outsource the 4506t and share your personal, private tax information with data aggregators and questionable 3rd parties, who then share it with anyone they like and you have no control over it.  See example. Who the heck is " DataVerify?"

https://www.mtb.com/customerservice/Documents/transcript-of-tax-return4506t-ez.pdf

And I'd also love to know who "Kroll Factual Data" is, as they are obtaining and sharing your personal, private tax information with others if you submit the 4506t to Chase Bank:

https://www.chase.com/content/dam/chasecom/en/mortgage/documents/irs_form_4506t-ez.pdf

If you agree to a 4506t, Citi shares your personal tax information wth "CoreLogic Credco", who in turn shares it with others:

http://www.citigroup.com/citi/citizen/community/homeownershippreservation/files/Blank%204506T.pdf

Moral of the story: think extremely carefully before agreeing to release 4506t data to anyone.

[Anonymous]

After reading about that I decided I won't send any of that to synchrony. If they lower limits or close accounts oh well. I have better cards anyways

[ohreally7654]

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@Creditplz wrote:
I'm really considering only keeping Ebates and Marvel.. Possibly Stash till AF hits... Sams Club, Walmart, Bannana Republic will all get the boot!!!

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I don't blame you for wanting to seriously trim back with them.  Minimizing exposure with them right now is a very good idea.  I have 12 accounts right now; at this point, I would keep only my Amazon, Care Credit, and Walmart, as I get a good deal of benefit from them.  The rest will be history.  That is, IF I am even given the option.  After all I've been reading about the reasons to NOT execute a 4506-T, I think I'm firmly on the bandwagon that I will not be providing that to Synchrony.  Hopefully the letter is something other than that, but, I have a feeling that's exactly what they're sending me!

[ohreally7654]

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@Anonymous wrote:

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@UncleB wrote:

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My Sam's Club MC is my 'go-to' for fast food, so I guess I'll be checking it again before lunch to make sure there are no 'surprises'. 

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+1 UncleB. Really sad that they have put us all in this situation to be checking our accounts to see if they are ok. That's not what you expect to have to do when you have been a responsible, very good customer with a solid payment history and solid FICO score.

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I completely agree, this is just a sad situation, and it's going to cost Synchrony dearly for their handling of things.

[ohreally7654]

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@Anonymous wrote:

Looks as if people's personal (and private) tax information is going directly to LexisNexis, who can then share it with anyone they choose, since they are a 3rd party collector of information and definitely do share the information they collect with others:

I can't post a link here to due myfico posting rules, but do a google seach for Synchrony and 4506 TEZ request and you will see what I mean. It's the first listing that comes up in a google search. Be sure to use all of the search terms listed in bold above.

You really need to take a careful look at the above before deciding to release your 4506t to anyone!

Personal information being out there without any control over it is not a good idea.

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I REALLY appreciate this information and it's something I hadn't even considered. I'm wel-familiar with the 4506-T, having worked in the mortgage industry for many years. It was such a part of my daily work-world that it didn't occur to me the potential issues that could arise (especially in this type of situation).  I know for some it may still be worth it, but I think I have come to the conclusion that for me, when simply dealing with credit cards (and not a mortgage), I will decline and close the accounts on my own if it comes to that.

[Anonymous]

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@ohreally7654 wrote:

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@Anonymous wrote:

Looks as if people's personal (and private) tax information is going directly to LexisNexis, who can then share it with anyone they choose, since they are a 3rd party collector of information and definitely do share the information they collect with others:

I can't post a link here to due myfico posting rules, but do a google seach for Synchrony and 4506 TEZ request and you will see what I mean. It's the first listing that comes up in a google search. Be sure to use all of the search terms listed in bold above.

You really need to take a careful look at the above before deciding to release your 4506t to anyone!

Personal information being out there without any control over it is not a good idea.

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I REALLY appreciate this information and it's something I hadn't even considered. I'm wel-familiar with the 4506-T, having worked in the mortgage industry for many years. It was such a part of my daily work-world that it didn't occur to me the potential issues that could arise (especially in this type of situation).  I know for some it may still be worth it, but I think I have come to the conclusion that for me, when simply dealing with credit cards (and not a mortgage), I will decline and close the accounts on my own if it comes to that.

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You are welcome, ohreally! There are lots of good points to consider. The following ones are also additional concerns that many people have with releasing the 4506t:

* It often includes sensitive medical expense information

* It will include information about minors or other dependents, if you have these listed on your return

* It will include spousal information or information about other joint filers, who may not want their personal information released to a company they do not do business with

* Your sensitive tax information DOES get released to 3rd parties like LexisNexis and DataVerify if you agree to the 4506t, and you have no control over who else it gets shared with once the 3rd party data aggregators get their hands on it.

See post above for more information as well. Your personal tax information can become an open floodgate of free-flowing information to many outside parties  if you agree to the 4506t.

I agree with many others who have posted that it's not worth having my personal tax information released to outside parties beyond my control. This goes well beyond the basic information (and often, misinformation) that companies such as LexisNexis have on us.  

LexisNexis already has 3 pieces of incorrect information about me in their reports (a state I never lived in, a graduate school in a different state and not the one I attended, and a car listed as mine that I never owned.) It's almost impossible to get incorrect information removed from LexisNexis, from what others on the board have experienced.

I'm 100% positive the misinformation they have has nothing to do with identity theft or fraud. I think they are sloppy organizations who pull data from sources and include information about lots of people with the same last name. They should be closed down.

[Creditplz]