topic Re: Synchrony bank making no sense yet again on the car credit account in General Credit Topics

Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 19:44:41 GMT

Yeah they starting doing to me now I have another about it I put a complaint to the corporate offices waiting for a response

Re: Synchrony closed all of my accounts today

lakerfan2011 — Wed, 01 Jul 2020 02:51:50 GMT

I left messages on ms keanes voice mail until they took it off the directly sent several emails to the ceo even sent in an arbration demand still have not heard a thing back still under review

Re: Synchrony closed all of my accounts today

lakerfan2011 — Wed, 01 Jul 2020 21:54:58 GMT

I just found out sychnory only pulls your report once every quarter I found out I had bogus collections on my credit totaling in 8000 thst should not be there I called the credit bureaus and got them fixed but now have to wait u to August 8th until they pull my credit report again how fair is that if u get it fixed they should be able to pull your new credit reports and fix the situation they closed my care account and lowered the limit on T.J.Maxx and now even thought I got my credit fixed I am stuck with thst in there system until they get an updated report which could be not until next mo th

Re: Synchrony closed all of my accounts today

Remedios — Wed, 01 Jul 2020 23:39:57 GMT

@lakerfan2011 wrote:
I just found out sychnory only pulls your report once every quarter I found out I had bogus collections on my credit totaling in 8000 thst should not be there I called the credit bureaus and got them fixed but now have to wait u to August 8th until they pull my credit report again how fair is that if u get it fixed they should be able to pull your new credit reports and fix the situation they closed my care account and lowered the limit on T.J.Maxx and now even thought I got my credit fixed I am stuck with thst in there system until they get an updated report which could be not until next mo th

If you had a "bogus" collection "pop up", you would have received multiple notifications as soon as it happened.

That's fine and all, but it just goes to show that "closed for no reason" usually involves a very good reason.

While I'm no fan of Synchrony, they work out just fine for most people, and most people do not experience closures for "no reason".

Re: Synchrony closed all of my accounts today

lakerfan2011 — Wed, 01 Jul 2020 23:51:51 GMT

U always defend them u must be invested in them but how is only pulling your credit. Once every quarter fAir if u have mistake they should be able to pull a new one when it's fixed Instead of letting u suffer for 3 months

Re: Synchrony closed all of my accounts today

Jnbmom — Thu, 02 Jul 2020 00:18:56 GMT

@lakerfan2011 wrote:
U always defend them u must be invested in them but how is only pulling your credit. Once every quarter fAir if u have mistake they should be able to pull a new one when it's fixed Instead of letting u suffer for 3 months

Who are you referring to . Nobody is "invested " in them?

Closures happen all the time it's just business , it's really best to cut your losses and move on. We recently received a few closures we took the hit and moved on .

You initial thread was closed on this very topic and now it keeps running on this thread . While I understand your frustration been there too, time to move on .

Re: Synchrony closed all of my accounts today

Anonymous — Thu, 02 Jul 2020 00:15:54 GMT

@lakerfan2011 wrote:
U always defend them u must be invested in them but how is only pulling your credit. Once every quarter fAir if u have mistake they should be able to pull a new one when it's fixed Instead of letting u suffer for 3 months

Yes, amyone disagreeing must have a hidden motive. The point is that the story has shifted, going from "closed for no reason" to "closed because of bad info on the CR (which isn't the fault of Sync) and now they won't repull the credit when I tell them to."

It costs money to pull (which is how CRAs make money) and so they won't do it on demand, because lots of people would want a new pull as soon as a payment is made or whatever. Ideally, once the CRA agrees the info is bad they could inform everyone, but probably not worth while for them to do so.

Re: Synchrony closed all of my accounts today

Anonymous — Thu, 02 Jul 2020 01:00:57 GMT

@Anonymous wrote:
@lakerfan2011 wrote:
U always defend them u must be invested in them but how is only pulling your credit. Once every quarter fAir if u have mistake they should be able to pull a new one when it's fixed Instead of letting u suffer for 3 months
Yes, amyone disagreeing must have a hidden motive. The point is that the story has shifted, going from "closed for no reason" to "closed because of bad info on the CR (which isn't the fault of Sync) and now they won't repull the credit when I tell them to."

It costs money to pull (which is how CRAs make money) and so they won't do it on demand, because lots of people would want a new pull as soon as a payment is made or whatever. Ideally, once the CRA agrees the info is bad they could inform everyone, but probably not worth while for them to do so.

There is always a reason, barring an algorithm malfunction, of why accounts are closed. Getting the real answer isn't always possible, because maybe the real answer is your account just doesn't fit their portfolio needs at the time, even if you pay on time every time.

Sometimes you just get tired of your favorite restaurant, even though the food is fine.

Re: Synchrony closed all of my accounts today

lakerfan2011 — Thu, 02 Jul 2020 01:08:30 GMT

So are we just live the mistake for 3 moths while synchonary takes its sweet time to pull my report again if there is a mistake like they should be able to pull a new one they report every month why can't pull one every month they are going off a bogus report pulled. In May 8th and it took them this long to take action they could let me know why they did it Instead of finding out my card was declined going to use it

Re: Synchrony closed all of my accounts today

Remedios — Thu, 02 Jul 2020 01:15:57 GMT

@lakerfan2011 wrote:
So are we just live the mistake for 3 moths while synchonary takes its sweet time to pull my report again if there is a mistake like they should be able to pull a new one they report every month why can't pull one every month they are going off a bogus report pulled. In May 8th and it took them this long to take action they could let me know why they did it Instead of finding out my card was declined going to use it

The person who started this thread had their cards closed. They weren't happy about it, but they answered questions to alleviate concerns of others, and they attempted to understand the situation from lender's point of view.

It was stressful for them, but they were gracious throughout their ordeal.

I will not lock their thread because you.

Let it go, or change your tone and approach.

Re: Synchrony closed all of my accounts today

lakerfan2011 — Thu, 02 Jul 2020 02:25:14 GMT

@Remedios @Nothing against u at all nothing like this has ever happened to me before and I am really upset it doesn't seem fair I have done nothing wrong and it's no fault of my own thst s why I am so upset and I knew nothing about this and why until I finally saw my credit report I just want it corrected and my trade lines finally back i see and understand why they did it now but it was no fault of my own but it's all fixed now to hold something against me from May 8th even though it's fixed now dosent seem fair all I am saying

Re: Synchrony closed all of my accounts today

Remedios — Thu, 02 Jul 2020 02:55:18 GMT

@lakerfan2011 wrote:
@Remedios @Nothing against u at all nothing like this has ever happened to me before and I am really upset it doesn't seem fair I have done nothing wrong and it's no fault of my own thst s why I am so upset and I knew nothing about this and why until I finally saw my credit report I just want it corrected and my trade lines finally back i see and understand why they did it now but it was no fault of my own but it's all fixed now to hold something against me from May 8th even though it's fixed now dosent seem fair all I am saying

Unless you're already signed up with CK, do so. While score might be meaningless, it's perfectly fine for monitoring your credit report.

Collections, bogus or not, have a tendency to keep showing up as they get sold or resold, so you may not be out of the woods yet.

I dont know if Synchrony will entertain the possibility of re-opening accounts, cant say I've seen that before, but maybe others have.

Instead on relaying so heavily on them (and seeing how the milk got soured), it may not be a bad idea for you to look at other lenders. You dont need to apply, and probably shouldn't till you hear from Synchrony if your efforts yielded positive result, but it might be time to start looking at back up plans.

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:09:58 GMT

Well it's under review at the cooperate office I am just waiting for the results thanks for the advice I'll sign for a credit monitoring deal now

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:09:43 GMT

Actually it's good thing I found out about this now because I am selling buying a home in the next couple of months so I am glad I got the collection off hopefully it stays off while I go through the home process at that my point my account won't matter because I will be able to pay all my debt off

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:09:18 GMT

They closed all7

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:09:02 GMT

Something needs to be done this company is horrible

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:08:45 GMT

I am still fighting my car care account being closed I have written ms keane mr doubles and sent bbb and credit card proctection complaints and sent an arbitration request

Re: Synchrony Bank Closed Accounts - Arbitration

Anonymous — Sat, 25 Jul 2020 20:08:29 GMT

Id agree...I filed federal inquiry via Federal Banking Commerce

Re: Synchrony Bank Closed Accounts - Arbitration

lakerfan2011 — Sat, 25 Jul 2020 20:08:12 GMT

I have sent in every complaint under the sun to them even put in my account for arbatration they received my certified letter on June 11th and have not responded at all

Re: Synchrony Bank Closed Accounts - Arbitration

UncleB — Sat, 25 Jul 2020 20:07:57 GMT

@lakerfan2011 since you've sent a request for arbitration I've moved your post(s) and replies to a new thread in General Credit which is where that is usually discussed.

--UncleB

myFICO Moderator