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Blue envelope! So I closed all my 3 Synchrony cards!

Valued Contributor

Blue envelope! So I closed all my 3 Synchrony cards!

Just want to share with you all my experience with Synchrony bank. I got approved first with the Marvel credit card about 5 months ago ($6K) and Lowes credit ($12K) the same month, the following month apped for Care credit ($10,800) and also got approved. I have only used the Lowes credit once for only $12 and paid in full before the statement closed, have not used yet the Care credit but was planning on using it next month for my son's braces, I have been using the Marvel credit for my trip to the movies.

Received a call about 2 weeks ago that my account was On Review, called CS and I asked why on review... the CS replied that accounts with annual income over $100,000 and with high credit limits will mostly likely be on review for verification. My gross annual income is over $100K and my net is around $70+K,  and my credit limit with them is not that high compared to some of the members here. Anyway, Recieved the Blue envelope last week, I did my research and read all the good information here with those that also recieved the Blue envelope and I decided that I do not want any of my sensitive information to be shared by their 3rd party company (Lexis Nexis) ... So I called them yesterday and closed all my 3 accounts totalling $28,800. The CS tried to convince me not to close all of them and mentioned that those have really great offers and benefits but I said "Please close all my accounts as I do not want to share my income tax return to a 3rd party Lexis Nexis company!" ... CS put me on hold a few minutes maybe tried to review what's really going on with my account, came back and asked me again if I really want to close them and I replied "Yes please!" ... Not really a big deal that this happened to me since I have other great cards that I use more and also I do not have any balance with the Lowes and Care credit and only $8 on the Marvel ... it's better to have good business relationship with banks that are willing to work with you. I will not apped again for another Synchrony cards Smiley Happy ... Hope this would be of good information to others Smiley Happy

Message 1 of 63
62 REPLIES
Community Leader
Super Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Wow that really sucks. Sorry you received the blue envelopes. And I totally understand your decision. You are well diversified. So, I'm sure you will be just fine! 😉
Message 2 of 63
Community Leader
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

I am sorry that this has happened to you as well.  They are loosing customers at  fast pace over this.  I don't blame you for not providing your tax returns to them or lexis nexis, I would have done the same thing, close my accounts.  There is no futher discussion needed between me and the rep, just process my request immediately.  

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Message 3 of 63
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


baller4life wrote:
Wow that really sucks. Sorry you received the blue envelopes. And I totally understand your decision. You are well diversified. So, I'm sure you will be just fine! 😉

Thanks Baller Smiley Happy ... Don't really need their cards just got into the hype of jumping on the bandwagon at that time Smiley Happy

Message 4 of 63
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


Pway wrote:

I am sorry that this has happened to you as well.  They are loosing customers at  fast pace over this.  I don't blame you for not providing your tax returns to them or lexis nexis, I would have done the same thing, close my accounts.  There is no futher discussion needed between me and the rep, just process my request immediately.  


Thanks Pway. The CS really tried to have my accounts open but I said NO! ... moving on Smiley Happy

Message 5 of 63
Moderator

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Dendom I'm so sorry this happened to you.  Smiley Sad

 

In another thread I wrote how a few days ago my Sam's Club MasterCard declined at Little Caesar's for a $4 transaction... with any other card I would have insisted on them trying the card a second time, but since it's Synchrony I just assumed it meant I had blue envelopes on the way and I sheepishly pulled out the ever-trusty Quicksilver so I could be on my way.

 

When I got home (that was a very long 15 minute drive...) I chatted with Synchrony and we figured out that it was a glitch at the restaurant (everything was fine, and I've used the card since) but I do not like having that feeling. 

 

I'm pleased with my current relationship with them, but I'm already looking for alternatives should they put me on the list as well.  On my drive home a few days ago I was assuming the worst, and I was already doing mental gymnastics to figure out how to replace them... LOL.

 

Again, I hate to hear this news, but you'll be better off without their shenanigans anyway.  Smiley Wink

Message 6 of 63
Community Leader
Super Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


UncleB wrote:

Dendom I'm so sorry this happened to you.  Smiley Sad

 

In another thread I wrote how a few days ago my Sam's Club MasterCard declined at Little Caesar's for a $4 transaction... with any other card I would have insisted on them trying the card a second time, but since it's Synchrony I just assumed it meant I had blue envelopes on the way and I sheepishly pulled out the ever-trusty Quicksilver so I could be on my way.

 

When I got home (that was a very long 15 minute drive...) I chatted with Synchrony and we figured out that it was a glitch at the restaurant (everything was fine, and I've used the card since) but I do not like having that feeling. 

 

I'm pleased with my current relationship with them, but I'm already looking for alternatives should they put me on the list as well.  On my drive home a few days ago I was assuming the worst, and I was already doing mental gymnastics to figure out how to replace them... LOL.

 

Again, I hate to hear this news, but you'll be better off without their shenanigans anyway.  Smiley Wink


We're on the same page UncleB! I already have a replacement plan! 😆 I'm not about to play with Synchrony!

Message 7 of 63
Community Leader
Super Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Really targeting people that make over 100k?  They are going to be sending out alot of those blue envelopes.....  I honestly don't know what I would do if I received one.  I only have about 17k with them in credit care credit where I use for a few hundred every several months for vet expenses and a marvel card.  Seems like alot of people are getting hit by this more-so than comenity back in the day and has yet to blow over like comenity basically did.   I might submit as Carecredit is about 1 year and 8 months old and marvel is only a few months.  Nothing to hide, just would have to read the wording if Lexis Nexis if they only share information with Sync or other people if just Sync then I would be fine, if they sold it to other people then I would have a real issue with that.  I really would like to read the fine print on one of the 4506-t requests they have been sending out and see if they state they will not sell or share with other than OC.

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Message 8 of 63
Senior Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Interesting that the CSR would come right out and reveal that they are targeting people with incomes over $100K. If the recording of the call is reviewed they'll probably get canned.


Gardening until tomorrow.
Message 9 of 63
Regular Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

I love my Lowes card for the 5% off and it's come in handy when Lowes screwed up my $8k order last week. As soon as they saw it was on their card they shut up and fixed it. The truth is Lexis Nexis is the worlds largest information clearing house for income, medical and insurance. There isn't anything on your tax transcript that they don't already have. You want EQ, EX and TU to have correct info so why not Lexis Nexis? All of your insurance is underwritten with info from them. If you have used health insurance then they know more about your medical records than you do. I suspect the blue envelopes are going out to people that claim 100k+ but when compared to the info L-N has it off. Send the transcript and your done. Better yet pull your L-N and correct all the info.


Message 10 of 63