topic Re: SYNCB closed PayPal MC Again in Credit Cards

SYNCB closed PayPal MC Again

pip3man — Mon, 12 May 2025 18:28:31 GMT

Looks like I've been hit a 2nd time with the closure of my PayPal MC. First time was 3yrs ago when my Paypal MC was closed 3 days after opening before I even received the physical card in the mail. I truly believe that was triggered after a call to Credit Solutions to increase the initial $6k limit, however the AA letter said something about "risk of default or non-payment." Go figure!

Fast forward to last year, I got approved for the card a second time however with a $500 SL. I've been using it consistently and always paying it off (never revolved a balance on it). I even got an increase to $1k back in Nov/Dec. Anyways, yesterday I requested an increase online which was declined. Coincidentally, the card got axed this morning.

There's been no significant change on my credit report with the exception of 1 new inquiry from AMEX on TU which took my total hard inquiries from 6 to 7 in the last 24 months. I religiously practice AZEO, current overall utilization at 13%. I recently got 4 new accounts with AMEX however none has been reported yet. I'd wager to say the CLI request triggered this closure but I'm curious to see what the letter will say. Suprisingly, they spared my Venmo card with a $12k CL and $0 balance which makes no sense. And today marks exactly 1 yr to the date of having the PPMC. Thankfully, it was my lowest limit card and had a $0 balance, so the loss of $1k doesn't hold no weight as far as my credit goes. With that being said, Venmo is the only account I now have with SYNCB assuming they don't go back later and close that too. Oh well 🤷🏽‍♂️

Re: SYNCB closed PayPal MC Again

USMCOne — Mon, 12 May 2025 18:42:04 GMT

I have had this card for some time with no issues. Even with a zero balance often for quite sometime when I request them I get them. Nowadays I only use it for my Steam Game purchases..lol.

I would not even consider this card in 2025 after the changes it has gone through. Sure you get 3% back on charges made through paypal but that can be far and few between. Rest of the time your stuck with 1.5%

Re: SYNCB closed PayPal MC Again

FlaDude — Mon, 12 May 2025 18:59:35 GMT

Other than as a way to see Vantage 4 scores, I'd be fine without Sync.

Re: SYNCB closed PayPal MC Again

fullstackdev — Mon, 12 May 2025 19:16:51 GMT

They closed my account today, too (PayPal Line of Credit, not MC). $3750 limit opened in Feb. Paid in full every month. No changes to credit report. Will find out why tomorrow.

Re: SYNCB closed PayPal MC Again

pip3man — Mon, 12 May 2025 19:39:35 GMT

@fullstackdev wrote:
They closed my account today, too (PayPal Line of Credit, not MC). $3750 limit opened in Feb. Paid in full every month. No changes to credit report. Will find out why tomorrow.

Wow sorry to hear. By any chance did you request a CLI on the account recently and is that the only account you got with them or you got others?

Re: SYNCB closed PayPal MC Again

pip3man — Mon, 12 May 2025 19:49:06 GMT

@USMCOne you are absolutely right. The card lost its appeal when they nerfed the 2% base earning. It used to be my everyday card but when they got rid of it, I mainly used it for transactions that process through PP for the 3% back. This is honestly one credit card that has been closed involuntarily that I'm completely unbothered. From the low limit, to the zero balance and the nerfed product, yeah they can have that!

Re: SYNCB closed PayPal MC Again

xenon3030 — Mon, 12 May 2025 20:03:59 GMT

Lol. You received 2x closure of the same card with Sync. Why did you consider re-opening the card?

Re: SYNCB closed PayPal MC Again

fullstackdev — Mon, 12 May 2025 22:36:12 GMT

I have not requested a CLI recently and this is my only Synchrony account. I used it heavily though as PayPal is my preferred way to pay online.

Re: SYNCB closed PayPal MC Again

indiolatino61 — Mon, 12 May 2025 22:50:57 GMT

@pip3man wrote:
Looks like I've been hit a 2nd time with the closure of my PayPal MC. First time was 3yrs ago when my Paypal MC was closed 3 days after opening before I even received the physical card in the mail. I truly believe that was triggered after a call to Credit Solutions to increase the initial $6k limit, however the AA letter said something about "risk of default or non-payment." Go figure!

Fast forward to last year, I got approved for the card a second time however with a $500 SL. I've been using it consistently and always paying it off (never revolved a balance on it). I even got an increase to $1k back in Nov/Dec. Anyways, yesterday I requested an increase online which was declined. Coincidentally, the card got axed this morning.

There's been no significant change on my credit report with the exception of 1 new inquiry from AMEX on TU which took my total hard inquiries from 6 to 7 in the last 24 months. I religiously practice AZEO, current overall utilization at 13%. I recently got 4 new accounts with AMEX however none has been reported yet. I'd wager to say the CLI request triggered this closure but I'm curious to see what the letter will say. Suprisingly, they spared my Venmo card with a $12k CL and $0 balance which makes no sense. And today marks exactly 1 yr to the date of having the PPMC. Thankfully, it was my lowest limit card and had a $0 balance, so the loss of $1k doesn't hold no weight as far as my credit goes. With that being said, Venmo is the only account I now have with SYNCB assuming they don't go back later and close that too. Oh well 🤷🏽‍♂️

Synchrony seems to operate in this manner:

Re: SYNCB closed PayPal MC Again

CreditPoor — Tue, 13 May 2025 01:09:19 GMT

4 new accounts/ 6 inquiries and another making it 7/ CLI request and a 13% utilization at the time of request. I'm sure we aren't getting the entire picture but i'd say asking for a CLI after getting a new inquiry on the bureau they often pull for account reviews isnt recommended. Additionally, while the accounts may not be visible on your reports id venture to say they can be seen elsewhere for risk assessment. Possibly carrying a blance on another card month to month. Safe to say something spooked them, again there is always a reason for closing accounts with synchrony even if we dont think there is.

Re: SYNCB closed PayPal MC Again

pip3man — Tue, 13 May 2025 12:02:40 GMT

@xenon3030 wrote:
Lol. You received 2x closure of the same card with Sync. Why did you consider re-opening the card?

@xenon3030 I've always been a fan of the PPMC when it was still a 2% everything 3% PP card. Easily one of the best cashback cards out there so it made every sense being in my wallet as a primary driver... After the nerf not so much... When I got it the second time, the structure was still the same although few months later it got nerfed. However, they let me keep the 2-3% cashback for a couple months since I was still a new cardmember.

Re: SYNCB closed PayPal MC Again

pip3man — Tue, 13 May 2025 13:52:54 GMT

@CreditPoor For one, if the new accounts are not listed on my credit report, there is absolutely no way a third party bank will know about it. I know this much from my direct professional experience. The only bank that would know I have 4 new accounts would be AMEX and AMEX only. Unless SYNCB decides to send a 314(b) to AMEX then at that point they are required to disclose the number of accounts I have opened with them which may not be visible on my credit report. However, the chances of that happening is zero and it's only used if they believe suspicious activity is happening. Secondly, u think 7 inquiries is alot?! Haha are you new to MyFico cos if you do your research you'll find that my inquiry count is not outrageous compared to many MyFicoers. Plus, I don't believe the inquiry was an issue bcos as of the time of my last CLI in Dec, my hard inquiry count was already at 6. Besides if it's something that had to do with my credit, trust me when SYNCB strikes, they do mass shutdowns! So they would have axed every account I got with them. Read other stories here. Think about it, does it make sense they are spooked about a card with a $1k limit and no balance but unconcerned with the other $12k card? I don't think so... In case you may not know when requesting a SP CLI with SYNCB and many other institutions, they're not pinging your credit in real time. They make the decision based of prior SP that was done at an earlier time. I still maintain that the recent requests for CLI resulted in the account closure (nothing to do with my credit at all). Also, everything as I've shared is the full picture so I don't appreciate you implying otherwise. I got nothing to hide or prove to anyone on the internet.

Re: SYNCB closed PayPal MC Again

CreditPoor — Tue, 13 May 2025 20:00:16 GMT

First, you're comparing your crefit profile to everyone else's. As we all know everyones profiles are unique and different. So while some may be able to absorb 7 inquiries and more, it's possible your profile cannot.

Next, its irrelevant what you and i think about Synchronys lending practices and there risk assessments because at the end of the day they are the lender and whatever they deem to be risky is how it is. What i will tell you is that something in your profile spooked them. Be it high amounts of unused credit, income to available credit or credit utilization, as one of your cards shows 96% usage in the screen shot. At the end of the day 95% ofclosures happen because of something the user did and the bank didn't like it, period.

Finally, Banks use proprietary risk models that may factor in your recent credit-seeking activity, even if they don’t see the actual account yet. With the use of AI risk assessments are getting refined like never before. So what may have been an acceptable tolerance level a year ago is a no go today.

Re: SYNCB closed PayPal MC Again

CreditPoor — Tue, 13 May 2025 20:02:52 GMT

bump

Re: SYNCB closed PayPal MC Again

pip3man — Tue, 13 May 2025 22:08:59 GMT

@CreditPoor I don't wanna get into TMI but when it comes to Risk and all that goes on behind the scenes at financial institutions... TRUST me, you're the last person in a position to tell me anything about it. You mentioned my profile not being able to absorb 7 inquiries, my oldest reporting account is darn near 20yrs old. There are over 70 accounts currently reporting on my credit, that includes multiple auto loans, student loans, mortgages, credit cards, personal loans, lines of credit... you name it. My profile is seasoned so if anyone can absorb 7 inquiries, that should be me. And as far as my income to available credit goes, I won't go down that path either before it turns into a bragging match but just know that... like I said before, the closure was not triggered as a result of credit related issues. Just like when I had the PPMC the first time and it got closed 2 days after I requested a CLI, same thing is happening again. It's too much of a coincidence that I requested an increase the day before, then the next morning card gets closed. What do both situations have in common - each closure was preceded by a request for an increase. And if you can't see the commonality here then I don't know what else to tell ya! Anyways, this is my last comment on this topic. The damage has been done and I've shared my experience. Case closed 😉

pRe: SYNCB closed PayPal MC Again

portlandmusician — Wed, 14 May 2025 02:07:03 GMT

@pip3man I mean, @CreditPoor did post his thoughts and then a minute - a minute - later posted another response, "bump," so he really wanted you to hear what he had to say.

At any rate, thank you for your data point on Synchroncity. They're wonky, we know. And, while they may be spooked about *something* we don't know (or, obviously you asking for a credit limit increase), the fact is it happened and your data point helps. Thank you.

Re: SYNCB closed PayPal MC Again

CreditCuriosity — Wed, 14 May 2025 11:10:15 GMT

speculating they saw that max out card on your profile one with 96% useage and didn't like that. Paired with you asking for a CLI. How long has balance been that high on that one account on report? Did they axe your venmo card as well on profile or that still intact?

Re: SYNCB closed PayPal MC Again

pip3man — Wed, 14 May 2025 12:26:53 GMT

@CreditCuriosity wrote:
speculating they saw that max out card on your profile one with 96% useage and didn't like that. Paired with you asking for a CLI. How long has balance been that high on that one account on report? Did they axe your venmo card as well on profile or that still intact?

No my Venmo card is still open as of today. I still don't think it's the 96% usage cos for one the card balance in my previous statement balance was $4300. It was only the most recent statement it went up that high. It just doesn't make any sense whatsoever that they are worried about a $1k limit card but fine with letting me keep the $12k card. If anything Venmo should've been the first on the chopping block if they were really concerned with something on my profile. As u probably already know, when SYNCB strikes they almost always shutdown every account. And to further support my theory, I requested a CLI for both the Venmo and PPMC on that same day. The only difference is, it was the first time I requested an increase on the Venmo card whereas with PPMC, it was the 10th request since the beginning of March.

Re: SYNCB closed PayPal MC Again

CreditCuriosity — Wed, 14 May 2025 12:38:02 GMT

Ya surprised they didn't hit your Venmo as well. Suppose it could of been worse with how Sync. typically handles account clossing which is usually all accounts.

Re: pRe: SYNCB closed PayPal MC Again

Patient957 — Wed, 14 May 2025 15:51:41 GMT

@portlandmusician wrote:
At any rate, thank you for your data point on Synchroncity.

A great album.

Uh oh, is that off topic?