All SYNCH Accounts locked ! Done trying with the credit game !

[Anonymous]

Sorry to hear Joey.  Hope all works out well.  Can't believe this is still going on.  I would not provide them with this sensitive info.  Can't see a reason for any of this unless the customer is having a hard time paying their bills.  

[Anonymous]

Your points are understood - my point however is that this kind of thing should be done PRIOR to approval, not freezing good paying customers out months or years later to do the job you shouldd have done prior.  Not saying they do not have the right, but the timing is insane.  and sorry, but MANY apps specify to list ALL INCOME AVAILABLE TO YOU - ie, domestic partner income, rental income, lottery winnings, alimony, help from family, anything (ie, these the words from a rep at PenFed when doing a CLI once -- although each person you talk to will tell you something different!)...so that statement is not entirely accurate.

[yfan]

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@Anonymous wrote:

Your points are understood - my point however is that this kind of thing should be done PRIOR to approval, not freezing good paying customers out months or years later to do the job you shouldd have done prior. 

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That certainly would be better, however, as you have pointed out yourself, it is not at all unlikely for incomes to change post approval, in either direction.

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@Anonymous wrote:

Not saying they do not have the right, but the timing is insane.  and sorry, but MANY apps specify to list ALL INCOME AVAILABLE TO YOU - ie, domestic partner income, rental income, lottery winnings, alimony, help from family, anything (ie, these the words from a rep at PenFed when doing a CLI once -- although each person you talk to will tell you something different!)...so that statement is not entirely accurate.

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Well, do you know if your Synch apps specified "all income available to you" or just "all income available to you to repay the balances" or something else entirely? If it did, provided one wanted to keep their cards, one way to go about it would be to point to that section of their application and actually show them the source of the other income available to you, including your partner's by producing their tax return/pay stub. As for rental income, lottery winnings, etc., those are supposed to be on your tax returns, as they are all taxable income. Help from family can be furnished in a similar fashion. Yes, this would be giving them even more information, and I understand that since you have already decided not to turn it over, we are having a hypothetical discussion on this.

You may be able to count "all income available to you" but it is up to you to produce proof of what income is actually available to you. A lender may or may not choose to take your word for it.

[JamP]

Why not CLD the accounts in question instead of going through Freezes and IRS forms?

After all this reading I am starting to wonder if there is some rhyme to the reason.

Has anyone with 3 accounts or less been frozen out of their accounts?

Is it only people with a mix of store cards and MC or Visa?

Is it only people claiming they made over 100k?

Does it have to do with being close to full exposure?

Is it people that have more then lets say 10 credit cards total?

My SamsMC and my DW Walmart Store card are fine so far.

This sucks for everyone, none of us want to see this happen to anyone.

I understand any credit card can be closed or frozen or CLD without any valid reason but this seem out of control.

[Anonymous]

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@yfan wrote:

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@Anonymous wrote:

Your points are understood - my point however is that this kind of thing should be done PRIOR to approval, not freezing good paying customers out months or years later to do the job you shouldd have done prior. 

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That certainly would be better, however, as you have pointed out yourself, it is not at all unlikely for incomes to change post approval, in either direction.

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@Anonymous wrote:

Not saying they do not have the right, but the timing is insane.  and sorry, but MANY apps specify to list ALL INCOME AVAILABLE TO YOU - ie, domestic partner income, rental income, lottery winnings, alimony, help from family, anything (ie, these the words from a rep at PenFed when doing a CLI once -- although each person you talk to will tell you something different!)...so that statement is not entirely accurate.

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Well, do you know if your Synch apps specified "all income available to you" or just "all income available to you to repay the balances" or something else entirely? If it did, provided one wanted to keep their cards, one way to go about it would be to point to that section of their application and actually show them the source of the other income available to you, including your partner's by producing their tax return/pay stub. As for rental income, lottery winnings, etc., those are supposed to be on your tax returns, as they are all taxable income. Help from family can be furnished in a similar fashion. Yes, this would be giving them even more information, and I understand that since you have already decided not to turn it over, we are having a hypothetical discussion on this.

You may be able to count "all income available to you" but it is up to you to produce proof of what income is actually available to you. A lender may or may not choose to take your word for it.

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I think I can speak for most.  Isn't that what we have a credit score/report for?  This is what they should look at.  It's more than just a score.  And your record should account for something.  Especially you record with the ones in question.  I just think they're taking it too far.  

[yfan]

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@Anonymous wrote:

I think I can speak for most.  Isn't that what we have a credit score/report for?

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No, credit reports are not for verifying income, as income is not reported on credit reports.

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@Anonymous wrote:

It's more than just a score.  And your record should account for something.  Especially you record with the ones in question.  I just think they're taking it too far.  

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Your credit report and record does count. But it doesn't have to count for everything. Especially when a lender is trying to decide not simply whether to extend one a credit line but also how much.

As I said, whether they are "going too far" or not is a judgment call. Consumers are free to not provide what is requested and have the accounts closed instead. This is entirely about choices. Choices we make, then the choices lenders make, and then the choices we make again in response.

[RonM21]

It's unfortunate for those going through this. Whether the reasons on their end are justified or not, I hate to see anyone going through these issues with them.

[longtimelurker]

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@RM21 wrote:
It's unfortunate for those going through this. Whether the reasons on their end are justified or not, I hate to see anyone going through these issues with them.

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But taking a step back, the OP (and many others) are getting their accounts frozen.   Which sucks, but hardly rises the level of great tragedy.   FSR, but with persepctive!   

[Anonymous]

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@Anonymous wrote:

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I think I can speak for most.  Isn't that what we have a credit score/report for?  This is what they should look at.  It's more than just a score.  And your record should account for something.  Especially you record with the ones in question.  I just think they're taking it too far.  

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Great points, Sandi!