What is the deal with Synchrony Bank credit cards?

[FinStar]

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@AlmostNJ wrote:

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@FinStar wrote:

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@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

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Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

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Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

[AlmostNJ]

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@FinStar wrote:

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@AlmostNJ wrote:

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@FinStar wrote:

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@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

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I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

[chiefone4u]

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@AlmostNJ wrote:

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@FinStar wrote:

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@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

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I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

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13 months after account paid off after closure, and if your utilization is under around 30% they will likely let you in (you'll likely need to prove your identity).

Foe some, if anyone with a similar name (think spouse or sibling) at the same address, if they have accounts closed by Synchrony it *could* affect your ability to get credit with them.

[FinStar]

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@AlmostNJ wrote:

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@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

---

I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

---

It's up to SYNCB to make that decision, whether they approve one or any at all -- not really up to us. The suggestion of the 12-month mark was to allow ample time from the last closures (yours or your wife's) whether voluntary or involuntary. Obviously, they have internal policies that drive underwriting and we're simply not privy to that information.

[CH-7-Mission-Accomplished]

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@FinStar wrote:

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@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

---

I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

---

It's up to SYNCB to make that decision, whether they approve one or any at all -- not really up to us. The suggestion of the 12-month mark was to allow ample time from the last closures (yours or your wife's) whether voluntary or involuntary. Obviously, they have internal policies that drive underwriting and we're simply not privy to that information.

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Synchrony has a 1 year policy for anybody for a closed card.   If you close a Wal-Mart card of your own volition, you cannot apply for that card again for 12 months.   It's their policy for everybody.

[RSX]

Given your last negative experience with them and your wife as well, why are trying to continue to do business with them?

there are a lot of lenders out there, I would focus on a different one(s) for future credit lines

[FinStar]

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@CH-7-Mission-Accomplished wrote:

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@FinStar wrote:

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@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

---

I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

---

It's up to SYNCB to make that decision, whether they approve one or any at all -- not really up to us. The suggestion of the 12-month mark was to allow ample time from the last closures (yours or your wife's) whether voluntary or involuntary. Obviously, they have internal policies that drive underwriting and we're simply not privy to that information.

---

Synchrony has a 1 year policy for anybody for a closed card.   If you close a Wal-Mart card of your own volition, you cannot apply for that card again for 12 months.   It's their policy for everybody.

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@CH-7-Mission-Accomplished- this is not accurate for everyone. Let's not comment in absolutes.

I was able to obtain/re-apply for 2 SYNCB CCs in less than 12 months and there are others who have as well, DPs can be found here on myFICO and elsewhere. In my case, it was not the 'harsh' form of AA (i.e. involuntary CLD or closures) - accounts were simply closed for inactivity.

[CH-7-Mission-Accomplished]

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@FinStar wrote:

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@CH-7-Mission-Accomplished wrote:

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@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

---

I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

---

It's up to SYNCB to make that decision, whether they approve one or any at all -- not really up to us. The suggestion of the 12-month mark was to allow ample time from the last closures (yours or your wife's) whether voluntary or involuntary. Obviously, they have internal policies that drive underwriting and we're simply not privy to that information.

---

Synchrony has a 1 year policy for anybody for a closed card.   If you close a Wal-Mart card of your own volition, you cannot apply for that card again for 12 months.   It's their policy for everybody.

---

@CH-7-Mission-Accomplished- this is not accurate for everyone. Let's not comment in absolutes.

I was able to obtain/re-apply for 2 SYNCB CCs in less than 12 months and there are others who have as well, DPs can be found here on myFICO and elsewhere. In my case, it was not the 'harsh' form of AA (i.e. involuntary CLD or closures) - accounts were simply closed for inactivity.

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I was told this by Synch each time I closed one of their cards.   Lowes.   Wal-Mart.  Care Credit.   Each of us share information based on our own experiences and knowledge.   People are free to share a different experience.    I'm happy you had a different experience.   

[FinStar]

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@CH-7-Mission-Accomplished wrote:

---

@FinStar wrote:

---

@CH-7-Mission-Accomplished wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

---

@FinStar wrote:

---

@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

---

Synchrony is just a very peculiar lender. There are varying degrees of opinion on their underwriting criteria, practices and Adverse Actions.

Your spouse likely triggered some risk factors that basically led to the mass closures. Just to be clear, are you saying she had 20 SYNCB accounts altogether or just 20 accounts in general including SYNCB? If she had 20 SYNCB accounts, do you recall how much aggregate exposure she had across all of those accounts?

When did the accounts get closed?

---

Yes my wife had 20 but only 3 had any utilization. I only had 3.

This was last year. 

---

Thanks for clarifying.

Honestly, that's a lot of eggs in one basket regardless if she only had utilization or any activity reporting on 3.

If either of you were to entertain re-establishing any of them, I would only do so after 12 months from the closure date and only select one or two (at most). That being said, temper expectations. They can always be subject to Adverse Action if any risk flags are present. AA secret sauce is unknown so just be aware of it.

---

I'm not sure why you are suggesting that. I dont have any right now with them. So why won't they give me 1? Dosent make sense to have what seems to be a lifetime ban when I never had a late payment ever on any account ever. 

---

It's up to SYNCB to make that decision, whether they approve one or any at all -- not really up to us. The suggestion of the 12-month mark was to allow ample time from the last closures (yours or your wife's) whether voluntary or involuntary. Obviously, they have internal policies that drive underwriting and we're simply not privy to that information.

---

Synchrony has a 1 year policy for anybody for a closed card.   If you close a Wal-Mart card of your own volition, you cannot apply for that card again for 12 months.   It's their policy for everybody.

---

@CH-7-Mission-Accomplished- this is not accurate for everyone. Let's not comment in absolutes.

I was able to obtain/re-apply for 2 SYNCB CCs in less than 12 months and there are others who have as well, DPs can be found here on myFICO and elsewhere. In my case, it was not the 'harsh' form of AA (i.e. involuntary CLD or closures) - accounts were simply closed for inactivity.

---

I was told this by Synch each time I closed one of their cards.   Lowes.   Wal-Mart.  Care Credit.   Each of us share information based on our own experiences and knowledge.   People are free to share a different experience.    I'm happy you had a different experience.   

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True, nothing wrong with sharing experiences, but if varying degrees of experiences exist (including recent ones posted in Approvals), then those are just as valid for others to be well-informed, especially since I wasn't the only individual who was able to get approved without the 12 month restriction.

[Remedios]

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@AlmostNJ wrote:

Both my wife and I have had multiple Synchrony credit and store cards. We have ever been late. She had 20 accounts averaging over 5 years. One day synchorny closed all her accounts. I later opened a few and Synchrony closed them after 6 months.

I recently tried to opened an account with Synchrony again and I was denied. The reason was, "previous account with Synchrony closed".

My FICO 8 are around 650s. I have no late payments, no collections but util is around 50%.

Anyone know what I can do to get off the blacklist? 

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If you really have no negatives, your utilization must be a tad bit higher than 50% to be around 650 on any CRA.

If your utilization was same (or worse) when Synchrony closed your cards, that's probably why so applying while circumstances remain the same makes very little sense, especially since they use lite version of trended data. 

I understand that loss of those TLs probably made situation worse but you cannot count on synchrony to be there for utilization padding.

Synch quit playing that game while back, so now everyone is pretending they are into Fintech and gimmicky cards. 

Get the utilization down to tolerable levels, not because of Synchrony,  possibility of additional AA,  or future applications but because  unless everything was on 0% promo, you're bleeding money. 

Even if everything is in 0% promo, it still has to get paid before it expires.  

I just wouldn't worry about applications/approvals right now,  focus instead on improving your situation, perhaps a decent loan from CU would help.  

Once you're in a better position, Synchrony will come around, but that's down the road.