topic Re: Synchrony Bank closing my accounts? Is this normal? in Credit Cards

Synchrony Bank closing my accounts? Is this normal?

acercode — Fri, 21 Apr 2023 15:46:34 GMT

They just closed my Walgreen card and halved my limit on my gas card. Is my Amazon card next?

I've never missed a payment or been late. Plus Walgreens had $0 balance and just paid off entire balance on gas card. Is this normal?

Re: Synchrony Bank closing my accounts? Is this normal?

GZG — Fri, 21 Apr 2023 15:54:25 GMT

normal, no.

common, yes.

are you holding high balances, open a bunch of recent accounts, have really high TCL with Synchrony? anything a reasonable person might consider as you being in trouble w/credit?

Re: Synchrony Bank closing my accounts? Is this normal?

M_Smart007 — Fri, 21 Apr 2023 16:03:10 GMT

@GZG wrote:
normal, no.

common, yes.

are you holding high balances, open a bunch of recent accounts, have really high TCL with Synchrony? anything a reasonable person might consider as you being in trouble w/credit?

+ credit seeking? (Recent Inquiries/New Accts.), escalating debt?, TU VS 4.0 Score drop, recent Synchrony CLI's??

Re: Synchrony Bank closing my accounts? Is this normal?

FireMedic1 — Fri, 21 Apr 2023 17:36:54 GMT

March's Victum Thread. Your not alone. Sorry it happened. Waiting my turn.

https://ficoforums.myfico.com/t5/Credit-Cards/Synchrony-Bank-CLOSED-all-of-my-accounts-without-warning/td-p/6651134

Re: Synchrony Bank closing my accounts? Is this normal?

M_Smart007 — Fri, 21 Apr 2023 17:45:23 GMT

@FireMedic1 wrote:
March's Victum Thread. Your not alone. Sorry it happened. Waiting my turn.
https://ficoforums.myfico.com/t5/Credit-Cards/Synchrony-Bank-CLOSED-all-of-my-accounts-without-warning/td-p/6651134

Hi @FireMedic1 ,

IMO, with your total Synch exposure, (and not hammering them for CLI's)

I do not think you will have a problem.

Re: Synchrony Bank closing my accounts? Is this normal?

FireMedic1 — Fri, 21 Apr 2023 18:00:20 GMT

@M_Smart007 wrote:
@FireMedic1 wrote:
March's Victum Thread. Your not alone. Sorry it happened. Waiting my turn.
https://ficoforums.myfico.com/t5/Credit-Cards/Synchrony-Bank-CLOSED-all-of-my-accounts-without-warning/td-p/6651134
Hi @FireMedic1 ,
IMO, with your total Synch exposure, (and not hammering them for CLI's)
I do not think you will have a problem.

Nah. I'm good @M_Smart007 . I use each of them monthly. And PIF before statment date. Imma AZEO type dude ever since BK. Hears AZEO haters. Perfectly happy where I made it to. Like a pig. NVM.

Re: Synchrony Bank closing my accounts? Is this normal?

TMDSCT — Fri, 21 Apr 2023 18:58:31 GMT

@acercode wrote:
They just closed my Walgreen card and halved my limit on my gas card. Is my Amazon card next?

I've never missed a payment or been late. Plus Walgreens had $0 balance and just paid off entire balance on gas card. Is this normal?

Sorry to hear this is happening to you. I also don't want to make any assumptions, but this is pretty common when you're carrying balances on other lender backed cards and/or missed payments on other lender cards. They've been doing this since they were GE Money Bank.

Re: Synchrony Bank closing my accounts? Is this normal?

fury1995 — Sat, 22 Apr 2023 01:06:33 GMT

@acercode wrote:
They just closed my Walgreen card and halved my limit on my gas card. Is my Amazon card next?

I've never missed a payment or been late. Plus Walgreens had $0 balance and just paid off entire balance on gas card. Is this normal?

They don't like what you've been doing recently.. for sure. You've just opened a personal loan for credit card balances last month and I believe a car loan as well, correct? This doesn't seem like the usual dormant account CLD that Sync loves doing.

Sync usually performs A/R's on Transunion which is far more detailed on historical payments made vs payments scheduled in addition to historical balances. Check and see if you have any soft pulls from Syncrony recently. They will soft pull once for every Sync account you have so you will see multiples at the same time. They just hit mine 5 times on the same day April 11th.

Re: Synchrony Bank closing my accounts? Is this normal?

madmann26 — Sun, 23 Apr 2023 23:15:42 GMT

If your total utilization adds up to over 50%, then this is probably the reason why.