Help! Synchrony approval but don't want the account

[ohjoy]

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@Anonymous wrote:
Hey man, Sounds terrible. This approval had to be done a few days or weeks ago. An instant approval for a card never hits your report the same day it gets approved, I believe. If that ever happens again, I'd call the issuing bank and shut down the new accunt, the same days, minute, hour it was approved - if you do not want it.

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I applied a few days ago. The inquiry hit the same day. And, according to myfico, the approved amount showed up on my Experian report today.

[Anonymous]

As others have said, unfortunately it is opened and has a home on your credit report. I made the same mistake almost 8 years ago with the Walmart Discover card. Applied out of boredom, got approved for $1500 (I didnt realize that GEMB/GECRB-today's Synch-offered large increases) so I closed the account. It has always bothered me that this darn card that I opened in 2009, never made a purchase with, never made a payment to, is on my credit report. It was only opened for three weeks.

I tried writing Synch starting in 2014 at their Walmart address asking them to remove the trade. Nope. I've disputed it on all three bureaus. Nope. So now that blasted shell of an account will report until 8/2019. A long time for a mistake made while not thinking.

My point: you could always write to Synch explaining the situation and ask if they will delete the trade from your bureaus. Otherwise, you can either keep it or close it but it will likely remain on your bureaus for 10 years.....

[ohjoy]

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@Anonymous wrote:
Your chance to AA Synchrony by closing the account.

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   I love it!! 

[xenon3030]

Is it feasible to convert this financial account to a credit card (product change instead of applying for a new credit card using the same HP within a month)? In this case, it might be a good option.

Anyway, a good recommendation is before contacting customer service for product change, CC application, etc., lock all the credits to avoid having unwanted HP.

[Anonymous]

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@xenon3030 wrote:

Is it feasible to convert this financial account to a credit card (product change instead of applying for a new credit card using the same HP within a month)? In this case, it might be a good option.

Anyway, a good recommendation is before contacting customer service for product change, CC application, etc., lock all the credits to avoid having unwanted HP.

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Illegal formation, 5 yards penalty.

[HeavenOhio]

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@Anonymous wrote:
Hey man, Sounds terrible. This approval had to be done a few days or weeks ago. An instant approval for a card never hits your report the same day it gets approved, I believe. If that ever happens again, I'd call the issuing bank and shut down the new accunt, the same days, minute, hour it was approved - if you do not want it.

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Synchrony has been known to report very quickly.

OP, close the account if you'd like. Or just let it sit there without using it.