topic Re: And another one! in Credit Cards

And another one!

Anonymous — Mon, 10 Oct 2016 15:43:50 GMT

Checked my sync accounts as I usually do daily to find they were all locked. I already know what's coming due to the knowledge gained here and I've already started to close them all. I have a balance on care credit and one on Walmart 0% promo that I'll pay off. Pay your bills on time keep your nose clean that didn't work with them I won't try for other accounts I'm done with synchrony bank. I'll continue my rebuild with better accounts in the future.

Re: And another one!

Anonymous — Mon, 10 Oct 2016 16:03:12 GMT

I've seen so many posts but I'm not clear on what is triggering this.

Does anyone have a summery of why this is happening?

Re: And another one!

AverageJoesCredit — Mon, 10 Oct 2016 16:50:41 GMT

Dang MrMello! Sorry about this . Another client bites the dust. Its just plain silly whats been going on. Any data points you can add if you dont mind?. How many accounts , credit limits, when were they opened,etc. Thanks if you can add anything else to help figure out Insanerony Bank...oops i mean Synchrony Bank.

@ nikokonto, no one is really sure but many of us have seen a couple data points but they really range from someone with lots of exposure( 100,000) to those who have opened multiple accounts within a short period of time. But it seems it catches a few with only one account or low exposure so mught as well flip a coin to see how you will be treated ;(. I for one am glad i bt'd my balances away from my Synchrony cards so they will alwsys be near 0 just in case.

Re: And another one!

Anonymous — Mon, 10 Oct 2016 16:56:10 GMT

Well it's pretty scarey, I really like 5% off amazon purchases. I have also been keeping a 0% at statement closing policy until this problem clears up.

Re: And another one!

AverageJoesCredit — Mon, 10 Oct 2016 17:06:36 GMT

Very good policy . If it wasnt for this board i wouldnt even be aware of this problem but thankfully i am. The real sad part is many of us love our Synch cards as many are useful to each person in their own way. Who doesnt love Amazon, many here enjoy having a Wally or Sams or their mc versions. Care credit is very helpful to many here but to have to worry everytime you are going to use your card if it will work is ridiculous. If they dont want someone to have high exposure on certain cards then dont give it out like candy. But to penalize someone youve already extended credit to who is abiding by the rules and paying on time, just not right.

Im becoming jaded to Synch with how they are going about this. Now when i look at a cc or financing option i pay more attention to whos extending that credit. If it say Synchrony, im gonna think twice

Re: And another one!

Anonymous — Mon, 10 Oct 2016 17:17:45 GMT

@ajc well all my accounts are within 2-7 months I had 7.
Walmart, Ebates, marvel, care credit, gap, Lowe's and eBay. Highest CL was 5400 care credit lowest was gap 400. My uti will creep up a tad bit but I'm not worried about that at all.

Re: And another one!

AverageJoesCredit — Tue, 11 Oct 2016 00:05:10 GMT

Thanks MrMello2! . It does stink to have to close aomething earler than one was hoping to but if one doesnt want to comply , what other choice is there. Your timeline of opening cards seems to fall in the timeline when this seemed to start being more prevalent. Ive noticed when people open various accounts since Mar- April of this year , it seems to open Blue box of income varification. I myself have 7 accounts with Sync but i opened these last year so maybe i dont fall in the new bubble but one never knows. Thanks for sharing with us though and best of luck

Re: And another one!

gdale6 — Tue, 11 Oct 2016 02:35:00 GMT

Sorry to hear. I am about to cancel all with them without getting any accounts frozen over the way they have handled fraud charges on by Ebates card. These jokers call me the end of August to check on a bunch of charges I tell them they are all fraudulent except for 2, they issue new card and trasnfer the fraud charges to it. I never receive any paperwork or acknowledgment from them in writing and am told to contact fraud dept which I do they tell me it takes 30 to 60 days before anything happens. Seeing still nothing being done after this I sent them a certified letter Oct 4 informing them of all the bogus charges and indicated it was them who called me to begin with and that they had done zippo to date and that they are knowingly reporting a false balance to the CRA in violation of the FCRA. They received this letter last Thu as of today I have written communication that they are working on it and it will take another 30-60, I also got a phone call to tell me they are working on it...... I am giving them 2 more weeks before I torch my 3 Sych accounts. This is ridiculous no other of my banks has done this with fraudulent charges the new account is opened and I never hear another word about them... End rant.... Good luck with your deal OP.

Re: And another one!

joltdude — Tue, 11 Oct 2016 02:39:59 GMT

Gdale:

Sounds like trying to deal with Macy's when someone uses the Macy's Amex for fraudulent charges.. It was a nightmare to fix for a friend of mine....

THings had to be mailed or faxed in and then they didnt do anything.... And one side told him not to pay the fraudulent charges and the other was sending him late notices...

They finally took the charges off and took repeated phone calls to get the lates removed...

Macys is horribly antiquated ......

-J

Re: And another one!

1162 — Tue, 11 Oct 2016 02:55:30 GMT

Sorry OP for the headache Synchrony is causing you...8 days ago I closed my Amazon (CL 900), Marvel (CL 2,500) and Lowe's (CL 700)...all 3 had been blocked a couple of weeks earlier, and was just waiting for the blue enveloped to arrive...interestingly enough, my Walmart store card (CL 3,000) is still open...all 4 cards were open back in May this year, within a few days from each other. My point here is that exposure is not always the problem, since mine was only 7,100 on 4 accounts... I did not even called CS to ask for any CLI, as many on this forums suggest right after opening their accounts. In my case, probably opening my accounts too close to each other may have triggered the AA...I was close to sending back the information they requested, becuase I have nothing to hide regarding my income, but them I have read that many people have had their accounts closed anyway, so I thought why bother...I will miss my Amazon card, and the other one that I love is my Walmart card, but that one is still open...

Re: And another one!

fltireguy — Tue, 11 Oct 2016 03:09:55 GMT

Just go back and reopen new accounts..lol its not like they blacklisted you

Re: And another one!

Anonymous — Tue, 11 Oct 2016 05:17:34 GMT

I can't imagine how upset the shareholders will be with their performance after killing off a lot of their customers.

Re: And another one!

Creditplz — Tue, 11 Oct 2016 05:33:50 GMT

They lost my business a long time ago, just going to tell you something you might already know..... You're better off without them!! They can keep their 27% APR cards !

Re: And another one!

sarge12 — Tue, 11 Oct 2016 05:56:44 GMT

All these revelations make me very glad that I always PIF. This allows me to very easily close any card if I become uncomfortable with the issuers practices. I truly enjoy using the cards for my benefit only, and have no love or loyalty to any of them. If they become too demanding, I can deal with a few less cards...no problem. Fortunately, I have no synchrony cards, and thanks to this forum...I never will.