topic Re: Possible 4056T Coming my way in Credit Cards

Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 02:29:55 GMT

Ok, so I get a call from some lady from Synchrony Bank. She says, "Your accounts are under review", I asked why and she said she could not tell me, but gave me a number to call and she stated they would tell me what's going on with my accounts. So I called the number and they tell me that they could not tell me anything other than a packet has been sent to me and I would receive it in 7 to 10 business and until then all my accounts are frozen. Eventually after arguing with some very rude supervisors, they said fraud is suspected and could not tell me anything else. FRAUD MY ASS!! From what I have researched about Synchrony, this is just away for them to justify asking for a 4056T. Am I wrong or what? What are your opinions on the 4056T.

Re: Possible 4056T Coming my way

Anonymous — Sun, 07 May 2017 02:45:07 GMT

Blue envelope.

Re: Possible 4056T Coming my way

red259 — Sun, 07 May 2017 03:00:42 GMT

@azfitz11 wrote:
Ok, so I get a call from some lady from Synchrony Bank. She says, "Your accounts are under review", I asked why and she said she could not tell me, but gave me a number to call and she stated they would tell me what's going on with my accounts. So I called the number and they tell me that they could not tell me anything other than a packet has been sent to me and I would receive it in 7 to 10 business and until then all my accounts are frozen. Eventually after arguing with some very rude supervisors, they said fraud is suspected and could not tell me anything else. FRAUD MY ASS!! From what I have researched about Synchrony, this is just away for them to justify asking for a 4056T. Am I wrong or what? What are your opinions on the 4056T.

My opinion is this. If lender asks me for that I will tell them to shove it and give my business with other lenders. This is assuming that there is not something off in my report that would justify their concern. If something came up in my profile and I understand their concern I would consider doing it, but if everything is perfect and I am fully paid up or whatever then I don't have time for those type of games with a lender.

Re: Possible 4056T Coming my way

Anonymous — Sun, 07 May 2017 03:12:21 GMT

How many accounts do you have with Sync?

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 03:13:39 GMT

I'm with you "red259" I'm so furious with them frezzing my accounts without any type of notice. None of my cards with them have ever hit more than 15% usage. My thinking is, if there were any type of fraud going on the cards would be maxed out. Wrong or not, that's my thinking.

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 03:15:52 GMT

I have 5 acoounts. Just got the Marvel card 4 days ago.

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 03:20:22 GMT

@Justagirl73 wrote:
How many accounts do you have with Sync?

I have 5 accounts currently with them. None currently over 10% usage.

Re: Possible 4056T Coming my way

wasCB14 — Sun, 07 May 2017 03:29:43 GMT

@azfitz11 wrote:
@Justagirl73 wrote:
How many accounts do you have with Sync?
I have 5 accounts currently with them. None currently over 10% usage.

Total credit across the five?

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 03:33:12 GMT

@wasCB14 wrote:
@azfitz11 wrote:
@Justagirl73 wrote:
How many accounts do you have with Sync?
I have 5 accounts currently with them. None currently over 10% usage.
Total credit across the five?

$34,500

Re: Possible 4056T Coming my way

grillandwinemaster — Sun, 07 May 2017 04:01:19 GMT

I'm just getting back in with Synch myself. I have three accounts, Care Credit, Amazon, and I also just got the Marvel card.

You can bet I'd kick Synchs A$$ to the curb if I ever get any "blue envelopes!"

Just my 2cents.

Best credit wishes to you OP.

Re: Possible 4056T Coming my way

CreditCuriosity — Sun, 07 May 2017 07:16:50 GMT

Just my honest opinion about proof of income.. I believe more lenders SHOULD before extending any credit ask for proof of income whether it is pay stub or 4506's, etc. This would avoid situations like this. I personally have nothing to hide about income and if it was a lender I cared about I would provide them the information they requested as I have nothing to hide. Others state it is intrusive, etc.. I guess anything a lender is willing to extend credit without any collateral they have the ball in their court and can do as they wish as you can do as you wish and not provide the information and end the relationship..

Re: Possible 4056T Coming my way

Loquat — Sun, 07 May 2017 11:19:11 GMT

OP, how long have you had these cards?

Re: Possible 4056T Coming my way

CreditInspired — Sun, 07 May 2017 11:21:21 GMT

I understand a CC issuer's request for paystubs, 1099, or a W2 and would gladly provide it in a nano heartbeat. But what I don't understand is the request for a 4506-T. Why is it necessary for the issuer to be all up in my business?

Good luck OP on whichever way you decide to go.

Re: Possible 4056T Coming my way

AverageJoesCredit — Sun, 07 May 2017 12:18:46 GMT

CC's point is valid. I have no problem if i had to provide POI before i got my card as perhaps the lender wanted to make sure i met their criteria. That would be good homework, ynlike when they approve someone then a week later decide nope, gonna close you down for some ridiculous excuse or for not taking the time to do their homework.

Anyhoo, i think the key here with Sync and their blue envelope is where your info goes and with whom it ends up, Lexus Nexus. NOPE, not for me . I enjoy the limits Synchrony affords us, will not lie but for this very reason i am keeping my accounts PIF and or near 0 so that if they want to freeze me or send me the Pappa Smurf, im out like Sunday Note, even if you abide by the 4506, not a gaurentee that theyll reopen your accounts.

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 13:16:02 GMT

@Loquat wrote:
OP, how long have you had these cards?

Most of them just a year. I jst got the Marvel Card 4 or 5 days ago

Re: Possible 4056T Coming my way

Anonymous — Sun, 07 May 2017 13:18:58 GMT

Have you been on any app sprees lately, OP?

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 13:19:22 GMT

@CreditInspired wrote:
I understand a CC issuer's request for paystubs, 1099, or a W2 and would gladly provide it in a nano heartbeat. But what I don't understand is the request for a 4506-T. Why is it necessary for the issuer to be all up in my business?

Good luck OP on whichever way you decide to go.

I'm with you, I would give them W2s, paystubs, 1099, or a **bleep** piss test if they asked! But the freezing of my accounts and asking for a 4506T, kiss myass Synchrony!!!

Re: Possible 4056T Coming my way

azfitz11 — Sun, 07 May 2017 13:21:51 GMT

@beautifulblaquepearl wrote:
Have you been on any app sprees lately, OP?

LOL! Yes! You think that's what triggered it?

Re: Possible 4056T Coming my way

grillandwinemaster — Sun, 07 May 2017 13:44:41 GMT

I have nothing to hide from Synch or any other creditor, but I have two issues with the 4506-T

1- I'm completely self employed, so my tax returns don't reflect my true annual income putting me at a GREAT disadvantage. ( This is done completely legal-with all the write offs afforded to self employed individuals.) If some wet behind the ears CSR got a hold of my returns, they would shut me down in a second when they saw my AGI vs my stated income!

2- It's a credit card, not a mortgage! Payment history And overall credit history should be enough for the bank, in this case Synch to make an educated decision as to whether or not they want to do business with me, AND at what exposure.

Ultimately in my case, it's not about having anything to hide, or a lack of transparency on my part, I simply enjoy my privacy. It's an "at-will" relationship. If you see something in me that you don't like, end the relationship. I'm even ok with the old, "It's not you, It's me," line!

Best wishes to all, and OP with whatever you decide to do!

Re: Possible 4056T Coming my way

UncleB — Sun, 07 May 2017 13:45:14 GMT

@azfitz11 wrote:
@beautifulblaquepearl wrote:
Have you been on any app sprees lately, OP?
LOL! Yes! You think that's what triggered it?

While nobody can say for certain, it might have put you "on the radar".

If you haven't already, you might want to check out this thread: http://ficoforums.myfico.com/t5/Credit-Cards/What-the-heck-is-going-on-with-Synchrony/td-p/4669682