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What the heck is going on with Synchrony?

Valued Contributor

Re: What the heck is going on with Synchrony?

ANNND j can access all my accounts now that they're closed. Lol makes no sense at all. Complete idiots. Shows $0 available credit. Bye bye SYNCHHHHJ
PenFed Cash Rewards $30,000 * Unify CU Rewards $15,000 * QuickSilver VS $19,600 * AMEX Honors $12,000 * Ritz Carlton Visa $8,500 * Cabela's VISA $8,500 * USAA Rewards $7,000 * VentureOne $5,000 * Amex EveryDay $2,500 * USAA Cash $2,000 * CreditOne $2,000 -- Scores: EXP 690 EQ 672 TU 720 12/13/16
Message 641 of 876
Regular Contributor

Re: What the heck is going on with Synchrony?

I am not sure I believe that csr and the one account in 12 months. I don't thnk the average person has any idea who synchrony bank is and who they back so I would imagine there may be millions with multiple synchrony cards and if that's the case i would think the retailers would be furious to know afterall the credit program is still a reflection of the retailer even if it's administered through a third party.
Almost every store has a credit card with rewards attached to it. If the retailers agree to this it will likely hurt a lot of them too
Message 642 of 876
Valued Contributor

Re: What the heck is going on with Synchrony?

I can access mine too now!! And wow 1/12??! They sound crazyyyy I will not ever be going back to them LOL.
Message 643 of 876
Established Contributor

Re: What the heck is going on with Synchrony?


Joeyzoom416 wrote:
Just spoke with another clueless credit services rep - complete tool. He sounded like a college stoner. But I digress. He stated that I can close all my accounts, but if I choose to do so, I will need to reapply for accounts in future AND (kicker) you will only be allowed one new account per 12 month period !!!!! He said his went into effect 7/5!!! So here it likely is people.. Synch is targeting people who have opened more than one account I'm a short period (all mine were opened within weeks or months of each other lol). They will
No longer allow multiple openings and he said if some slip through those will be frozen and closed. Again, guy was a tool but I'll take what he said at face value.

Anyway, closed em all. OVER IT !!!!! Like I said, I have more important things to be worried about than this crap. Best of luck to all

Good for you!!! I'm about to do the same thing here shortly! I am very much over dealing with Synchrony! One thing to add to what the CSR said about account openings. I think he is a little misinformed and here is why I say that. I requested a letter after closing one of my accounts a few days ago, to confirm it was closed at my request. Received the letter Thursday. In it, it advised a new account can only be opened 12 months after the initial open date. So, I closed my Phillips 66 card which I originally opened in March this year. If I want another Phillips account I have to wait till march next year. So I think they're just limiting one of the same card to be opened every 12 months instead of one card, period, every 12 months, if that makes sense?

Started rebuilding 8/2015. Current Fico 8 Scores 9/17: TU FICO: 698 (from 646 3/15/16) | EX FICO: 689 (from 617 3/15/16) | EQ FICO: 670 (from 614 3/15/16). Discover Miles: $10K | Amex PRG | Amex BCE $2K | Amex SPG $2K | Citi Aadvantage $7K | JetBlue Plus MC $3.9K | Walmart MC $3.5K | Marvel MC $5K | NFCU CashRewards $15K | CareCredit $12K | PenFed Amex $9K | USAA Limitless Visa Sig $6K | NFCU goRewards $20K | NFCU Amex $10.4K | NavCheck $13.5K | Blispay $4K | QS $9.5K | Pier 1 $21.1K | RH $20.7K | JCrew $16.8K | Wayfair $4.9K | Pottery Barn $19.5K | Discover IT $4.1K | Nord. Visa Sig $17K | USAA Visa Plat $2.5K | Neiman Marcus $6.4k | Amex Delta Reserve $1k | Saks $15K | VS $2.2K | Target $1K | Macy's $20K | Bloomies $16K | West Elm $12.4K | PP Credit (Comenity) $4.4K
Message 644 of 876
Regular Contributor

Re: What the heck is going on with Synchrony?

That makes a lot more sense
Message 645 of 876
Community Leader
Super Contributor

Re: What the heck is going on with Synchrony?

Wonder if the CSR meant if you closed those accounts you cannot apply for those cards for 1 year and was confused as this is a policy with Sync if you say close Ebates card you cannot reapply for 12 months, but can apply for any other sync cards you havent closed in the last 12 months.

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Barclay's | US Bank | Fifth Third Bank | FNBO
Message 646 of 876
Highlighted
Established Contributor

Re: What the heck is going on with Synchrony?


CreditCuriousity wrote:

Wonder if the CSR meant if you closed those accounts you cannot apply for those cards for 1 year and was confused as this is a policy with Sync if you say close Ebates card you cannot reapply for 12 months, but can apply for any other sync cards you havent closed in the last 12 months.


This is what I have always thought was their policy. Pretty sure the rep meant this whether it was clear or not

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 647 of 876
Valued Contributor

Re: What the heck is going on with Synchrony?

I've only read about 5 pages of this thread but damn!!!  The first thought that came to mind was "never put all of your eggs in one basket".  I have 3 credit lines with them that total $42K.  That would take out over 1/3 of my available credit then result in me taking some inquiries and a lower AAoA if I wanted to replace them with other cards. 

 

I think I'll be staying away from anymore CLis with them.  No need to poke that angry bear! 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 648 of 876
Senior Contributor

Re: What the heck is going on with Synchrony?


masscredit wrote:

 

 

I think I'll be staying away from anymore CLis with them.  No need to point that angry bear! 


+1

 

 

 

 

 

 

Poking Bears.jpg



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Message 649 of 876
Established Member

Re: What the heck is going on with Synchrony?

Ok, my fellow myficoer's...I FINALLY GOT MY MYSTERIOUS BLUE SYNCHRONY ENVELOPE YESTERDAY EVENING...The letter was dated July 5th, it was mailed out on

 

the 6th, and it was for....DRUM ROLL PLEASE....A SS-9 form for the Social Security Administration to verify my SSN. I guess they aren't accepting copies of the actual card

 

themselves anymore...Nope, they want to go STRAIGHT to the source and get it...Now, this is what confuses me...When I fill this out, will they make this info available to

 

LexisNexis as well, or what are they going to do with this? I've never had to do this with any other creditor except them...So I'm kind of confused as to why this is

 

happening...Any thoughts on this? At any rate, i'm going to fill  it out and send it in. 

 

Also, I think what triggered mine is I opened 3 accounts within days  of each other. I think that was my trigger. I didn't know it was against the law to have more than 2 cards 

 

opened within a certain time frame from each ohter. No other bank does this except them...SMH...They had all of my accounts on the one letter though, so it covers 

 

them all. So all in all, iit's taking about TEN DAYS to get these letters...Why, I don't know, because the postmark CLEARLY said the 6th...????

 

That's the end of my mystery...I'll keep you posted...

 

Message 650 of 876