topic Re: Synchrony Bank closed two of my accounts in the past two years in Credit Cards

Synchrony Bank closed two of my accounts in the past two years

andremurcia — Mon, 06 May 2024 08:03:31 GMT

I'm so pissed I wanted to buy 4090 on Newegg and after finally getting my account $2100 to be able to get my 4090 they close my account After starting with a $600 credit limit working on that account for two years going on three

lasy year they also closed care credit $10,000 limit

today I saw blood 🩸 I had chevron visa with limit $1600 I closed that one

then close Premier Mastercard $3700

lowes $1800

sam club lower it from $1300 too $380 I closed it

last month reopened care credit $6500 I close it

Jc penny next

amazon I'll also close soon

car care will pay it next month

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

thank god I already have $140,000 in other credit cards.

I will never deal ever again with crappy bank I had about 30k in credit limits with them there loss

Re: Synchrony Bank closed two of my accounts in the past two years

FlaDude — Mon, 06 May 2024 13:58:33 GMT

You are taking this a lot more personally than they are. Synch is known for reducing CL and closing cards due to disuse.

Re: Synchrony Bank closed two of my accounts in the past two years

Wu-Credit — Mon, 06 May 2024 14:09:25 GMT

Synchrony wakes up every business day and chooses violence.

Re: Synchrony Bank closed two of my accounts in the past two years

Linnaea — Mon, 06 May 2024 14:24:33 GMT

@andremurcia wrote:
I'm so pissed I wanted to buy 4090 on Newegg and after finally getting my account $2100 to be able to get my 4090 they close my account After starting with a $600 credit limit working on that account for two years going on three

lasy year they also closed care credit $10,000 limit

today I saw blood 🩸 I had chevron visa with limit $1600 I closed that one

then close Premier Mastercard $3700

lowes $1800
sam club lower it from $1300 too $380 I closed it

last month reopened care credit $6500 I close it

Jc penny next

amazon I'll also close soon

car care will pay it next month

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

thank god I already have $140,000 in other credit cards.

I will never deal ever again with crappy bank I had about 30k in credit limits with them there loss

I feel the accounts like Synchrony, Comenity are a bit.... Looney. I often wonder if it's them or who they represent. For example I can't get my stupid Victoria's Secret from Comenity to increase over $200 credit. Honestly, they initial told me I was approved for the Mastercard. I accepted said it was a Mastercard... then the card comes and just store card. I still going to put in complaint with CFPB. Regardless the reason they won't give me a credit increase is all over place... no experience with real estate.... and not enough balances. Honestly, you can buy much with $200 at Victoria Secret. Then they immediately post to CB what you owe. I used it cause they were having a underwear sale. Immediately post. I owe $33 out of 200. Ridiculous. Yes I'm in rebuild. My FIcos are between 660 and 680. I only have 1 baddie on my report. I settled and paid everyone. I had VS before and never burnt them. COMENITY offers me preapproval from other banks at higher SL. They are just all silly. I wouldn't worry. Between the economy and the "Y" banks... which is perfect because "WHY?" perfectly sums them up. I'll keep my Care Credit... but I'm going to close my VS or just shock drawer it. Good luck and I'm sorry.

PS what is a 4090?

Re: Synchrony Bank closed two of my accounts in the past two years

Wu-Credit — Mon, 06 May 2024 14:33:14 GMT

@Linnaea wrote:
PS what is a 4090?

It's a graphic card for gaming PCs, costs $1799 msrp.

Re: Synchrony Bank closed two of my accounts in the past two years

keekers — Mon, 06 May 2024 14:51:07 GMT

Sorry for this happening to you...also try and relax, it will be ok.

Re: Synchrony Bank closed two of my accounts in the past two years

xenon3030 — Mon, 06 May 2024 15:16:46 GMT

@andremurcia wrote:
last month reopened care credit $6500 I close it

I do suggest to consider multiple lenders, instead of putting all your eggs in one basket. By this way, you mitigage financial risks due to AA by any lender. Btw, you observed AAs in the past while you re-opened another card again with them. Sync is well-known to do AAs with or without reasons. So, re-opening the impacted cards with the same lender might not be the optimum solution.

It might be good to PIF all the Sync cards and keep them active, place a small charge per quarter, and try to find other CCs from other lenders, instead of closing them by yourself. Closing several cards immediately might cause also red flag for the other lenders. Closing one card per quarter might be a good option, if you want to proceed to closing them by yourself.

If you are re-builiding, it should be a bit hard to get qualified for CC. Try to apply for the cards that you feel confident approvals to avoid accumulating HPs.

Re: Synchrony Bank closed two of my accounts in the past two years

Anonymous — Mon, 06 May 2024 15:30:02 GMT

@andremurcia wrote:

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

"tracherous" might be just a little teeny bit over the top. And no, the bank has no deliberate intention to destroy your credit, a) you are not that important to them and b) what would be the motivation. It's their (perhaps screwy) risk mitigation algorithms doing stuff automatically. Yes, the impact to you is the same but it's not actually malicious.

Re: Synchrony Bank closed two of my accounts in the past two years

DoppelgangerD — Mon, 06 May 2024 16:19:48 GMT

@andremurcia

@Linnaea

I'll just say this much...

The facts are that these banks are run by humans with flawed logic and likely all overpaid for their intellectual capabilities.

However, it's not personal.

A computer can't make a personal decision.

I see posts all the time where people say they won't do business with a certain bank because of whatever reason.

So are you opening these accounts to make THEM money or for YOU to take advantage of what they offer?

If you're getting something from them, why not keep doing it.

I know it's frustrating when you feel you're getting a raw deal, but just try to play the game smarter and not harder.

Keeping too many credit lines open without use is difficult.

Try to concentrate more on cards that are useful to you on a daily, weekly or monthly basis.

When a card's SL won't grow, that's frustrating, but if you can still use it, then just keep using it.

Most likely it will grow eventually when your credit file heals and grows more.

If not, then sock drawer is an option, but just make sure the sock drawer doesn't become overwhelming.

Re: Synchrony Bank closed two of my accounts in the past two years

CorpCrMgr1 — Mon, 06 May 2024 16:10:32 GMT

I would not be happy (definately an understatement) either. Your actions would be my first thought. Then I'd think back to my rebuilding time and how happy I was to get a $200 CL card. I'd keep the cards I had and put some spend on them. Good luck!

Re: Synchrony Bank closed two of my accounts in the past two years

andremurcia — Mon, 06 May 2024 16:56:23 GMT

You forgot tax it usually $200 extra

I was waiting for Black Friday to get better deal

Re: Synchrony Bank closed two of my accounts in the past two years

andremurcia — Mon, 06 May 2024 17:09:01 GMT

Closed all accounts I already have 80k alone with Citi and navy federal credit card BCU 30k and no one has ever closed my cards ever

in was really looking forward to buying 4090 for Black Friday to get interest free payments like I usually do

Re: Synchrony Bank closed two of my accounts in the past two years

NoMoreE46 — Mon, 06 May 2024 17:20:47 GMT

Did any of your CLD synchrony limits end in 24? Like $##24?

Re: Synchrony Bank closed two of my accounts in the past two years

Rogue46 — Mon, 06 May 2024 18:14:54 GMT

Is there an option to open another card to purchase the GPU that has a 0% no interest term? You said you have Citi cards? Diamond preferred would be a good fit in this situation

Re: Synchrony Bank closed two of my accounts in the past two years

SouthJamaica — Mon, 06 May 2024 20:41:24 GMT

@andremurcia wrote:
I'm so pissed I wanted to buy 4090 on Newegg and after finally getting my account $2100 to be able to get my 4090 they close my account After starting with a $600 credit limit working on that account for two years going on three

lasy year they also closed care credit $10,000 limit

today I saw blood 🩸 I had chevron visa with limit $1600 I closed that one

then close Premier Mastercard $3700

lowes $1800
sam club lower it from $1300 too $380 I closed it

last month reopened care credit $6500 I close it

Jc penny next

amazon I'll also close soon

car care will pay it next month

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

thank god I already have $140,000 in other credit cards.

I will never deal ever again with crappy bank I had about 30k in credit limits with them there loss

1. Welcome to the forum.

2. Until this moment I never heard of a "4090", but after reading your post I looked it up... and now I've learned something.

3. Sorry this happened. Yeah, Synchrony has a history of doing stuff like this. Every once in a while I'm tempted to apply for a card, but whenever I see "Synchrony" is the bank, I pass.

Re: Synchrony Bank closed two of my accounts in the past two years

andremurcia — Mon, 06 May 2024 21:31:49 GMT

Yeah, I have the diamond preferred. I can also use the Best Buy credit card to.

Re: Synchrony Bank closed two of my accounts in the past two years

user979797 — Mon, 06 May 2024 21:46:20 GMT

@andremurcia I feel your pain I dislike Synchrony myself and despite them having some decent products this is why I will never be with them again. They can be ridiculous when it comes to CLD and even account closures for something as silly as requesting multiple increases on different cards with them or a ton of other things that shouldn't be punishable. I can understand protecting yourself of course but i just feel they are way WAY quick to take ridiculous action against people that usually do not deserve the action against them taken.

I say "bon voyage" Synchrony nice knowing ya You can find much better products out there with better treatment so good for you. Feel good that you are better off now and take care

Re: Synchrony Bank closed two of my accounts in the past two years

andremurcia — Mon, 06 May 2024 22:14:24 GMT

Loews was 24 and Sam's was 20

everything else was even

Re: Synchrony Bank closed two of my accounts in the past two years

Anonymous — Mon, 06 May 2024 23:00:22 GMT

@user979797 wrote:
They can be ridiculous when it comes to CLD and even account closures for something as silly as requesting multiple increases on different cards with them or a ton of other things that shouldn't be punishable.

Requesting multiple increases on different cards is unusual in the mainstream (i.e. outside places like MyFico) and will often be caused by someone in credit distress seeking additional credit because they are over-extended. So doing CLDs or closing cards makes sense.

And Sync (and other banks) can't, or at least can't be bothered, to detect that when those in MyFico do it, it can be for different , less concerning, reasons. But to be fair, as far as issuer is concerned "I need it for the padding" or "I'm trying to get an XXX total credit limit" isn't going to win the case for you.

Re: Synchrony Bank closed two of my accounts in the past two years

user979797 — Mon, 06 May 2024 23:14:52 GMT

@Anonymous That is wonderful insight but i stand by my statement. It's not just about myfico users I know several people who do not use this board who attempt to get increases on multiple accounts for a multiude of reasons and most banks in my opinion do not punish for this. Search the boards and you'll see several others who share this opinion about Synchrony but nothing wrong with liking them still and sharing wisdom about healthy credit habits.