topic Re: Synchrony... in Credit Cards

Synchrony...

KeithW — Wed, 20 Feb 2019 16:24:40 GMT

The company really irritates me. I have an Old Navy, Wal-Mart, Best Buy and Lowes CC with them and 8 CCs with other companies such as Chase and Cap One. Synchrony is the only one that follows my CL down as I pay them off. I had kept my Utilization on them pretty high for some time and I wanted to get it down under 50%. I made payments to each one and they immediately drop my CL on each card so my Utilization actually went up to over 90%.

Re: Synchrony...

AverageJoesCredit — Wed, 20 Feb 2019 16:27:41 GMT

Hi, Best Buy is Citibank. It appears Synchrony is balance chasing you. They must be concerned with your high utilization ans are taking steps to protect themselves. Stinks but it happens.

Re: Synchrony...

KeithW — Wed, 20 Feb 2019 18:25:01 GMT

Wonder why CapOne, Chase, BofA and Citibank don’t do it?

Re: Synchrony...

FinStar — Wed, 20 Feb 2019 18:30:11 GMT

OP - Chase, BoA and Citi, for instance, are also well-known to balance-chase/CLD as well. It's likely you're not on the radar...yet.

I mean, the whole premise behind SYNCB (or any other lender for that matter) to take adverse action is because you have demonstrated a fairly negative risk assessment given the high utilization or carrying those balances for too long.

Re: Synchrony...

Anonymous — Wed, 20 Feb 2019 18:41:37 GMT

Yeah like FinStar said, the others are known to take similar actions.

If anything, Sync serves as a warning to get your credit issues fixed before your other lenders take AA as well.

Re: Synchrony...

CreditInspired — Wed, 20 Feb 2019 19:08:30 GMT

@KeithW wrote:
Wonder why CapOne, Chase, BofA and Citibank don’t do it?
——————

Shhhhh. Don’t voice that out loud? You might invite the Gawds to take a second look at your CC arsenal.