topic Re: Synchrony Bank Randomly closed 2 cards in Credit Cards

Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 03:12:28 GMT

So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

Experian: 719

Transunion: 689

Equifax: 660

Credit Utilization: 12%

Revolving Account Balance: $388

Late Payments: 0
Collections: 0
Negative Public Records: 0

Re: Synchrony Bank Randomly closed 2 cards

BronzeTrader — Wed, 13 Dec 2017 03:13:54 GMT

@Anonymous wrote:
So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

Experian: 719
Transunion: 689
Equifax: 660

Credit Utilization: 12%
Revolving Account Balance: $388
Late Payments: 0
Collections: 0
Negative Public Records: 0

Oh well. You would be better to keep the Sync accounts closed. Not worth it. Better to keep CC with brand name banks.

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 03:20:38 GMT

The part that hurts me was the fact that they reported the new account on my credit profile the same day they cancelled it... like it straight-up lowered my average history. CLI, new card and both cards cancelled literally all in the same week.

Re: Synchrony Bank Randomly closed 2 cards

Moneyklutz — Wed, 13 Dec 2017 03:29:25 GMT

I'd be on the phone like pronto and calling them again to ask why they did what they did.

Hopefully it was suspected fraud or something that can be straightened out. Your total exposure to Synch with only two cards and the limits you've shared should not have triggered this unless something is terribly awry.

Re: Synchrony Bank Randomly closed 2 cards

fltireguy — Wed, 13 Dec 2017 03:32:55 GMT

@Anonymous wrote:
So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

Experian: 719
Transunion: 689
Equifax: 660

Credit Utilization: 12%
Revolving Account Balance: $388
Late Payments: 0
Collections: 0
Negative Public Records: 0

Im sorry that this happened to you, however it is something that Sync does occasionally.. You might also be getting a blue envelope in the mail from them soon as well...

Whats keeping your scores down? If you have no lates, collections, or anything your TU should be in the 700's. What is your overall Utilization? Do you have any card(s) that are near their limits?

One thing that sucks with Sync is that there is NO EO, and NO recon, and usually, NO explanation for their actions!

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 03:32:45 GMT

Something here does not add up.

I have a 3500 Wally (opened with 500 just 3 months ago)

A 600 Amazon (opened same week as Wally)

A BP 2000 (opened 2 1/2 months ago and SL of 200)

My scores are well lower than yours.

Something has them spooked mate.

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 04:12:56 GMT

@Moneyklutz wrote:
I'd be on the phone like pronto and calling them again to ask why they did what they did.

Hopefully it was suspected fraud or something that can be straightened out. Your total exposure to Synch with only two cards and the limits you've shared should not have triggered this unless something is terribly awry.

I called and both the rep and manager claimed that they could not give me any information. literally "business decision" was thrown around a few times. I cannot imagine why; i have never been late in the 9 months my walmart account was active and obviously i had no time to be late on the amazon card as it was closed literally the same day they shipped the card. I went over my transunion report since i know that was the report they pulled from and the only thing that i'd view as negative is the 7 inquiries on that report in the past year; 5 was for auto refinancing (rate shopping) and the other 2 was for the amazon card and a capital one card (didnt get improved because of "too many recent inquiries" on my equifax).

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 03:47:11 GMT

@fltireguy wrote:

@Anonymous wrote:
So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

Experian: 719
Transunion: 689
Equifax: 660

Credit Utilization: 12%
Revolving Account Balance: $388
Late Payments: 0
Collections: 0
Negative Public Records: 0
Im sorry that this happened to you, however it is something that Sync does occasionally.. You might also be getting a blue envelope in the mail from them soon as well...

Whats keeping your scores down? If you have no lates, collections, or anything your TU should be in the 700's. What is your overall Utilization? Do you have any card(s) that are near their limits?

One thing that sucks with Sync is that there is NO EO, and NO recon, and usually, NO explanation for their actions!

the only issues with my scores are inquiries and limited credit history (average account history is 1 year with the new count included)... longest opened account is also 1 year since i literally started building my credit right before i purchased my car 1 year and 2 months ago. I still cant imagine that would be the reason they'd close it.... my scores were way worst when i opened the walmart card.

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 03:55:28 GMT

@Anonymous wrote:
Something here does not add up.

I have a 3500 Wally (opened with 500 just 3 months ago)
A 600 Amazon (opened same week as Wally)
A BP 2000 (opened 2 1/2 months ago and SL of 200)

My scores are well lower than yours.

Something has them spooked mate.

yea.... i really cant grasp what could have them spooked is what's so confusing and mind boggling.... like they closed both accounts in succession. And this couldnt have happened til late this evening after they shipped my card and finally congratulated me on the CLI....

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 06:19:12 GMT

No rhyme or reason sometimes with Synch. They closed a card on me several years ago and I didn't find out until swiping at a register. Two weeks later received the letter with the reason: "Closed by creditor" and nothing else. Never did get a straight answer from them.

Re: Synchrony Bank Randomly closed 2 cards

AverageJoesCredit — Wed, 13 Dec 2017 12:12:32 GMT

Wow, that does stink. Sorry to hear this. It does appear random with stats provided. Only thing i can think of is some type of fraud concern. Any issues with id theft?

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 12:30:17 GMT

Not that I know of.

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 12:50:14 GMT

Were any of your payments rejected by your bank but you still managed to get another payment in on time?

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Wed, 13 Dec 2017 13:56:02 GMT

@Anonymous wrote:
Were any of your payments rejected by your bank but you still managed to get another payment in on time?

Nope. Never ever late.... never ever had a payment returned.

Re: Synchrony Bank Randomly closed 2 cards

woodyman100 — Thu, 14 Dec 2017 02:21:20 GMT

Financial Institutions use more than the big 3 Bureaus to evaluate accounts.

There are many many more Bureaus and data mining companies out there.

If I had to guess, something in a deep dark information pocket has popped up.

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Thu, 14 Dec 2017 02:39:35 GMT

@woodyman100 wrote:
Financial Institutions use more than the big 3 Bureaus to evaluate accounts.
There are many many more Bureaus and data mining companies out there.
If I had to guess, something in a deep dark information pocket has popped up.

Possibly... I'm honestly at a lost. I've never had any issues with fraud or anything like that... The only thing i could imagine it being is something related to my name change... had a name change earlier this year... had to send a bunch of stuff to walmart creditcard services to verify and get everything switch over. Maybe when they pulled the credit report for the amazon store card they realized the walmart one was pulled under a different name? My credit reports reflect the change though so I honestly have no idea. I've had a few hours to cope with the sudden lost, haha... Gonna follow some folks here advice and take the L on this one; build the other cards i have for this next year or so. Have way too many inquiries and recent accounts anyway so maybe it's for the best.

Re: Synchrony Bank Randomly closed 2 cards

mrldp40 — Thu, 14 Dec 2017 06:09:15 GMT

After 7 months of no c l I i closed mine 200 wasn't working for me

Re: Synchrony Bank Randomly closed 2 cards

AverageJoesCredit — Thu, 14 Dec 2017 11:42:52 GMT

Somehow someway, i believe you hit the nail on the head. The changing of your name could have been the catalyst. Its possible with fraud on the rise, whether the name change was legitimate, it set off some sort of trigger. Maybe they like to have all their i's dotted and t's crossed when doing their reviews. Was the name change due to marriage or some other reason if you dont mind sharing?

Re: Synchrony Bank Randomly closed 2 cards

Anonymous — Thu, 14 Dec 2017 20:38:16 GMT

@AverageJoesCredit wrote:
Somehow someway, i believe you hit the nail on the head. The changing of your name could have been the catalyst. Its possible with fraud on the rise, whether the name change was legitimate, it set off some sort of trigger. Maybe they like to have all their i's dotted and t's crossed when doing their reviews. Was the name change due to marriage or some other reason if you dont mind sharing?

I agree; right now it's the only explanation that makes any sense to me at least until i receive the paper mail that is apparently supposed to disclose the reason. I got my name changed some time back in july. Full name change for reasons related to being a Jr and not actually having a relationship with the guy. Took my gf's (now wife) grandfather's last name so that when we married she could have it. Credit was dragging before then because i had things on my credit that actually belonged to my dad (settlements from before i was born and things like that) not to mention i was terrible in my youth with credit. By the time i actually got the name change my credit was actually doing good with my car loan, wells fargo (secured card), chase amazon and the walmart card giving me some life. Had to send verification of the name change to walmart card services (not sure if that's actually synchrony or walmart)... i feel like that's probably where the miscommunication could've possibly happened. I mean it would make sense with the new amazon card and them realizing "wait this guy also has a walmart card with us and the credit report pulled for that card has a different name!! *panics*"... haha, idk.

Re: Synchrony Bank Randomly closed 2 cards

AverageJoesCredit — Thu, 14 Dec 2017 23:54:00 GMT

This could be it. I would probably let things settle then with Stnc for now. Continue working your credit, and make sure all your reports have your correct name and social. When you app orher cards, you should be fine. In a year, if you still want any card from Synchrony you might try again, as they wventually forgive even those who burned them. Chalk it up to a good lesson to learn and grow from it Happy Holidays