topic Re: Closed Amazon synchrony in Credit Cards

Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 09:25:49 GMT

So I decided to close my Amazon synchrony card.

Why? The fact they never bothered to send me a paper bill saying $0 owed two months in a row even tho I asked for paper statements.

Also having to log in weekly to check my balance to make sure there isn't any fraudulent charges. Also, I never really used this card and didn't plan to anytime soon. I don't have prime. Likely was going to closed for non usage so figured just cut to chase and do it now.

On top of all that I feel better my credit report showing I closed the account vs it showing they closed the account.

To add insult to injury synchrony can't even report the card type correct on my credit report. They reported it as a Charge Card and not a credit card...

At the end I collected a $120 SUB for it so why I applied in the first place.

Yes, I'm fully aware of the impacts closing an account can have.

Re: Closed Amazon synchrony

Jnbmom — Thu, 14 May 2020 09:21:45 GMT

@Anonymous wrote:
So I decided to close my Amazon synchrony card.

Why? The fact they never bothered to send me a paper bill saying $0 owed two months in a row even tho I asked for paper statements.
Also having to log in weekly to check my balance to make sure there isn't any fraudulent charges. Also, I never really used this card and didn't plan to anytime soon. I don't have prime. Likely was going to closed for non usage so figured just cut to chase and do it now.

On top of all that I feel better my credit report showing I closed the account vs it showing they closed the account.

At the end I collected a $120 SUB for it so why I applied in the first place.

Yes, I'm fully aware of the impacts closing an account can have.

You don't get paper statements mailed if you have a ZERO balance . I like my amazon card but it's not for everybody and if you didn't like it then can't blame you for clsoing

. As you stated you are fully aware of the impact so I won't go any further....................................................

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 09:23:57 GMT

@Jnbmom wrote:
@Anonymous wrote:
So I decided to close my Amazon synchrony card.

Why? The fact they never bothered to send me a paper bill saying $0 owed two months in a row even tho I asked for paper statements.
Also having to log in weekly to check my balance to make sure there isn't any fraudulent charges. Also, I never really used this card and didn't plan to anytime soon. I don't have prime. Likely was going to closed for non usage so figured just cut to chase and do it now.

On top of all that I feel better my credit report showing I closed the account vs it showing they closed the account.

At the end I collected a $120 SUB for it so why I applied in the first place.

Yes, I'm fully aware of the impacts closing an account can have.
You don't get paper statements mailed if you have a ZERO balance . I like my amazon card but it's not for everybody and if you didn't like it then can't blame you for clsoing

. As you stated you are fully aware of the impact so I won't go any further....................................................

TD Bank/Target gladly sends me paper statement showing a $0 balance owed. Perhaps it's because I pay it down to $0 and don't let a balance report?

Re: Closed Amazon synchrony

yapsalot — Thu, 14 May 2020 09:29:28 GMT

Good riddance. They are a subprime lender more interested in generating fees than growing a long-term relationship that is mutually beneficial.

Re: Closed Amazon synchrony

Jnbmom — Thu, 14 May 2020 09:50:31 GMT

@yapsalot wrote:
Good riddance. They are a subprime lender more interested in generating fees than growing a long-term relationship that is mutually beneficial.

Fees? I pay no fees and have a 10K line, far from the definition of "subprime".

Re: Closed Amazon synchrony

TSlop — Thu, 14 May 2020 11:06:22 GMT

@Anonymous wrote:
Also having to log in weekly to check my balance to make sure there isn't any fraudulent charges.

I'm not questioning you for closing it at all, but I'm curious about this statement. Wouldn't you do this for all cards (I do)? Are you just saying it is a hassle to make sure to check 1 more card every week, or is there higher risk of fraud with this card?

Re: Closed Amazon synchrony

Shooting-For-800 — Thu, 14 May 2020 11:34:28 GMT

@yapsalot wrote:
Good riddance. They are a subprime lender more interested in generating fees than growing a long-term relationship that is mutually beneficial.

As someone with $80k TCL with them, I completely disagree with this statement.

OP - why not just view your statement and/or balance online and print it out or save as pdf?

Re: Closed Amazon synchrony

GApeachy — Thu, 14 May 2020 12:16:36 GMT

@Anonymous wrote:
They reported it as a Charge Card and not a credit card...

It was a credit card? You could use it anywhere?

Re: Closed Amazon synchrony

kdm31091 — Thu, 14 May 2020 12:31:34 GMT

If there is no activity on an account and thus 0 balance, you won't get a statement, printed or digital. This is standard from what I have experienced with several banks.

If you had activity but then paid it down to 0 before the statement, yes, you should still recieve a statement. But with no activity at all and no balance there's no statement.

Re: Closed Amazon synchrony

Rudy1 — Thu, 14 May 2020 13:46:22 GMT

This is super common in banks for example Citi Retail Bloomingdales does not store statements if no balance. Why would they do that there is no activity. Also if you don't want them to say charge card call them ask them to change it. In the end it is your opinion.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 14:15:49 GMT

Your choice, but....

If you accept that you won't get a statement for $0 balance, and assuming you know roughly when the statement is due: doesn't the fact that you DIDN'T get a statement give you assurance that there were no fraudulent charges? If there were (unless they paid it off) you would get a statement.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 14:19:37 GMT

@yapsalot wrote:
Good riddance. They are a subprime lender more interested in generating fees than growing a long-term relationship that is mutually beneficial.

I think most credit card issuers are interested in profit only. The "relationship", IMO, is much more in the customer's mind than anything in reality.

Re: Closed Amazon synchrony

Physh1 — Thu, 14 May 2020 16:18:01 GMT

@yapsalot wrote:
Good riddance. They are a subprime lender more interested in generating fees than growing a long-term relationship that is mutually beneficial.

Hmmm...5% back, no fees, I have a $10k limit, optional 0% financing for large purchases. What is the issue here? Where are the fees?

Re: Closed Amazon synchrony

Physh1 — Thu, 14 May 2020 16:22:12 GMT

@Anonymous wrote:
Also having to log in weekly to check my balance to make sure there isn't any fraudulent charges.

Is there a major concern here? Why would this, in theory, be any different than any other card you have? Curious as to your thought process here.

Re: Closed Amazon synchrony

RSX — Thu, 14 May 2020 16:27:45 GMT

i am more frustrated by the companies that DO send me a paper statement, when i have elected for electronic statements

i think your lack of usage and not having an amazon prime account are the best reasons you have given for closing it....

Re: Closed Amazon synchrony

jamesdwi — Thu, 14 May 2020 17:00:07 GMT

The resons I keep mine open is that it has a 10k CL on it great for padding UTL, no annual fee, helps increase my AAoA, 4th oldest account open on my credit report 9 years 1 month. Pay on time, if you take a 0% interest deal pay off before expiration, no interest, its the one card I have never paid interest on.

But if life without the card makes you feel better. You be you.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 17:19:36 GMT

I don't really understand why you closed this card. You were going on and on about nobody approving you for cards, you get approved for one, and then you close it. Now you just look like you churned the card and will go right back to where you were before, unable to get a new card.

If you are happy with it though, good for you, but I don't understand the need for paper statements when this is a Sync card that actually has full transaction alerts available - instant email and text down to $1.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 17:35:17 GMT

There is a previous thread on the very subject of closig this card by OP, so it's no surprise to me this happend. I still don't fully understand all the reasons for the closure as they seem benine to me, and almost as if being used to justify the closure. However, it's totaly OP's choice to do so. As it is anyone choice to close without justification to someone else.

Charge Card vs credit card? It wasn't a Credit Card that could be used anywhere, it was a store card. Besidest's totally up to them how they report an account is it not? What's most important is possitive reporting of a TL, not semantics.

The paper statment issue has been explained.

As for loggin in to babysit your account, that's a personal choice. But I assumed that most people here were very active in that regard anyways. So I'me guessing SYNCH doesn't offer alerts for this product. With all the fraud repots within SYNCH I can understand someone's viewpint on the issue though.

Still, it's not costing a penny to have this as a TL reporting positively. IMO

If you were only after the $120 GC that's fine too, pleny of people here SUB chase.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 17:32:09 GMT

@Anonymous wrote:
There is a previous thread on the very subject of closig this card by OP, so it's no surprise to me this happend. I still don't fully understand all the reasons for the closure as they seem benine to me, and almost as if being used to justify the closure. However, it's totaly OP's choice to do so. As it is anyone choice to close without justification to someone else.

Charge Card vs credit card? It wasn't a Credit Card that could be used anywhere, it was a store card. Besidest's totally up to them how they report an account is it not? What's most important is possitive reporting of a TL, not symantics.

The paper statment issue has been explained.

As for loggin in to babysit your account, that's a personal choice. But I assumed that most people here were very active in that regard anyways. So I'me guessing SYNCH doesn't offer alerts for this product. With all the fraud repots within SYNCH I can understand someone's viewpint on the issue though.

Still, it's not costing a penny to have this as a TL reporting positively. IMO

If you were only after the $120 GC that's fine too, pleny of people here SUB chase.

Sync DOES offer full alerts though. It's only their PayPal card that doesn't.

Re: Closed Amazon synchrony

Anonymous — Thu, 14 May 2020 17:49:02 GMT

@Anonymous wrote:

If you are happy with it though, good for you, but I don't understand the need for paper statements when this is a Sync card that actually has full transaction alerts available - instant email and text down to $1.

Yes, but I remember someone once said: "You know, it's really irritating that people keep trying to tell me that my issue is no big deal. It's a big deal to me because of how I choose to manage my cards."

But that's ok!