topic Re: Synch Holding Available Credit? Sometimes... :) in Credit Cards

Synch Holding Available Credit? Sometimes... :)

CreditCrusader — Tue, 22 Feb 2022 15:02:21 GMT

I'm sure this has been written about on these boards.

But for those who may not have read it, Synchrony canhave a bit of an insecurity habit where releasing available credit is concerned.

Case in point:

DW has used their cards for some time. Same spending pattern, same payment amounts...NEVER a missed payment (or even carried balance).

Last week, she paid off her Old Navy VISA to the tune of about $900. For the week that has followed, Synch has kept her available credit $473 (??) lower than her credit limit.

Not to be outdone, she used her PayPal credit account...and then paid it in full, as usual. With that card, they are holding the ENTIRE available credit for 10-14 business days.

Oddly enough, they didn't hold her CareCredit available credit hostage...even though the usage and payment were larger than the ON and PP accounts.

No changes to her credit profile or income. Just Synch being Synch, but buyer beware. They can ALWAYS pull these annoying little stunts...just as all CCCs can.

Re: Synch Holding Available Credit? Sometimes... :)

gdale6 — Tue, 22 Feb 2022 15:59:12 GMT

Synch & Comenity are a little over the top on holding available credit when making payments. They dont have the deposit bases other banks do and a lot of their credit cards are going poof as merchants either go bankrupt or pull their CC offerings due to covid-19.

Re: Synch Holding Available Credit? Sometimes... :)

SoCalGardener — Tue, 22 Feb 2022 17:20:08 GMT

@CreditCrusader wrote:
I'm sure this has been written about on these boards.

But for those who may not have read it, Synchrony canhave a bit of an insecurity habit where releasing available credit is concerned.

Case in point:

DW has used their cards for some time. Same spending pattern, same payment amounts...NEVER a missed payment (or even carried balance).

Last week, she paid off her Old Navy VISA to the tune of about $900. For the week that has followed, Synch has kept her available credit $473 (??) lower than her credit limit.

Not to be outdone, she used her PayPal credit account...and then paid it in full, as usual. With that card, they are holding the ENTIRE available credit for 10-14 business days.

Oddly enough, they didn't hold her CareCredit available credit hostage...even though the usage and payment were larger than the ON and PP accounts.

No changes to her credit profile or income. Just Synch being Synch, but buyer beware. They can ALWAYS pull these annoying little stunts...just as all CCCs can.

I've never seen this myself, but I'm not at all surprised to hear it! From what I've gleaned about Synchrony, they pretty much play by their own rules--which don't necessarily resemble 'normal' rules at all.

Re: Synch Holding Available Credit? Sometimes... :)

HeavenOhio — Tue, 22 Feb 2022 17:22:49 GMT

Not releasing my credit limit was the top reason I closed my Care Credit card. I had two 1K payments held. A rep told me that had I made four $500 payments, my credit limit would have been made available immediately.

My Wells Fargo Home Projects card also held on to my limit, but for the opposite reason. They'd have preferred one large payment instead of two or three smaller ones.

I also closed the Wells Fargo card, and I plan on avoiding these two banks in the future.