cancel
Showing results for 
Search instead for 
Did you mean: 

Blue envelope! So I closed all my 3 Synchrony cards!

Senior Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


grillandwinemaster wrote:

UncleB wrote:

Dendom I'm so sorry this happened to you.  Smiley Sad

 

In another thread I wrote how a few days ago my Sam's Club MasterCard declined at Little Caesar's for a $4 transaction... with any other card I would have insisted on them trying the card a second time, but since it's Synchrony I just assumed it meant I had blue envelopes on the way and I sheepishly pulled out the ever-trusty Quicksilver so I could be on my way.

 

When I got home (that was a very long 15 minute drive...) I chatted with Synchrony and we figured out that it was a glitch at the restaurant (everything was fine, and I've used the card since) but I do not like having that feeling. 

 

I'm pleased with my current relationship with them, but I'm already looking for alternatives should they put me on the list as well.  On my drive home a few days ago I was assuming the worst, and I was already doing mental gymnastics to figure out how to replace them... LOL.

 

Again, I hate to hear this news, but you'll be better off without their shenanigans anyway.  Smiley Wink


Ok, I'm really curious Uncle B- what Did you get from Little Ceasers that only cost 4 bucks??!?!😁


Crazy Bread.

Message 21 of 63
Moderator

Re: Blue envelope! So I closed all my 3 Synchrony cards!


CAPTOOL wrote:

grillandwinemaster wrote:

UncleB wrote:

Dendom I'm so sorry this happened to you.  Smiley Sad

 

In another thread I wrote how a few days ago my Sam's Club MasterCard declined at Little Caesar's for a $4 transaction... with any other card I would have insisted on them trying the card a second time, but since it's Synchrony I just assumed it meant I had blue envelopes on the way and I sheepishly pulled out the ever-trusty Quicksilver so I could be on my way.

 

When I got home (that was a very long 15 minute drive...) I chatted with Synchrony and we figured out that it was a glitch at the restaurant (everything was fine, and I've used the card since) but I do not like having that feeling. 

 

I'm pleased with my current relationship with them, but I'm already looking for alternatives should they put me on the list as well.  On my drive home a few days ago I was assuming the worst, and I was already doing mental gymnastics to figure out how to replace them... LOL.

 

Again, I hate to hear this news, but you'll be better off without their shenanigans anyway.  Smiley Wink


Ok, I'm really curious Uncle B- what Did you get from Little Ceasers that only cost 4 bucks??!?!😁


Crazy Bread.


Close... it was Italian Cheese Bread... $4 + tax; I think the actual total was $4.24.  Smiley Very Happy

Message 22 of 63
Senior Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Haven't been around a whole lot lately. Don't have much sync exposure and would survive just fine without it and haven't gotten a blue envelope at this point. But I'm curious, is the bit about the tax transcript info going to L-N just if you provide to sync or to other lenders too (Amex?) And what about when you apply for a home loan and they request tax transcripts? 

Entered the Garden 6/11/18
Message 23 of 63
Moderator

Re: Blue envelope! So I closed all my 3 Synchrony cards!


TortoiseWins wrote:

Haven't been around a whole lot lately. Don't have much sync exposure and would survive just fine without it and haven't gotten a blue envelope at this point. But I'm curious, is the bit about the tax transcript info going to L-N just if you provide to sync or to other lenders too (Amex?) And what about when you apply for a home loan and they request tax transcripts? 


It's been reported that the form you have to complete/sign has Lexis info pre-filled in the place where you direct the IRS where to send the transcript.

 

I would assume (I hate that word) that with Amex they do their verification in-house, and with a mortgage broker it would be up to the broker, although I admit the idea of this is foreign to me. 

 

Having been through the mortgage process four times (each successfully) I was never asked for a tax transcript for any of them - they couldn't care less what I made historically, all that mattered was what I was making at that moment, my employment history, and that I was employed.  Smiley Wink

Message 24 of 63
Senior Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

zA


UncleB wrote:

TortoiseWins wrote:

Haven't been around a whole lot lately. Don't have much sync exposure and would survive just fine without it and haven't gotten a blue envelope at this point. But I'm curious, is the bit about the tax transcript info going to L-N just if you provide to sync or to other lenders too (Amex?) And what about when you apply for a home loan and they request tax transcripts? 


It's been reported that the form you have to complete/sign has Lexis info pre-filled in the place where you direct the IRS where to send the transcript.

 

I would assume (I hate that word) that with Amex they do their verification in-house, and with a mortgage broker it would be up to the broker, although I admit the idea of this is foreign to me. 

 

Having been through the mortgage process four times (each successfully) I was never asked for a tax transcript for any of them - they couldn't care less what I made historically, all that mattered was what I was making at that moment, my employment history, and that I was employed.  Smiley Wink


thanks

Entered the Garden 6/11/18
Message 25 of 63
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


UncleB wrote:

Dendom I'm so sorry this happened to you.  Smiley Sad

 

In another thread I wrote how a few days ago my Sam's Club MasterCard declined at Little Caesar's for a $4 transaction... with any other card I would have insisted on them trying the card a second time, but since it's Synchrony I just assumed it meant I had blue envelopes on the way and I sheepishly pulled out the ever-trusty Quicksilver so I could be on my way.

 

When I got home (that was a very long 15 minute drive...) I chatted with Synchrony and we figured out that it was a glitch at the restaurant (everything was fine, and I've used the card since) but I do not like having that feeling. 

 

I'm pleased with my current relationship with them, but I'm already looking for alternatives should they put me on the list as well.  On my drive home a few days ago I was assuming the worst, and I was already doing mental gymnastics to figure out how to replace them... LOL.

 

Again, I hate to hear this news, but you'll be better off without their shenanigans anyway.  Smiley Wink


+1,000^^^

Chase 62k-Bank of America17k-FNBO 44.1k-Banco de Popular 25k-Discover 14.2k-Synchrony 74.5k-Banco do Brazil 5k-Amex 10k-Capital One 53.1k-NFCU 88k-John Deere 17.5k-EECU 10k-Commerce 17k-Blispay 7.5k-USAA 10k-Citi 20k-Fleetcor 7k-Sunbelt-RentalOne-Locke Supply-Limits 497450
Message 26 of 63
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!

Thank you all for the replies and additional information you shared on my thread. I checked my experian credit report this pm to see if my accounts are really closed .... and yes indeed it showed CLOSED and Paid Satisfactorily but my Care credit showed "Credit line closed-grantor request-reported by subscriber" and the Lowes and Marvel showed "Credit line closed-consumer request-reported by subscriber". I called CS and asked why my care credit showed closed by grantor and not by consumer, the CS mentioned that since I did not submit the 4506 forms they have to close it ... Smiley Sad. Now I'm really confused since my Lowes and Marvel showed "closed by consumer request and not by the grantor. I insisted that I called yesterday to close my accounts and clearly metioned to the CS to make sure that I am the ONE closing the accounts and not the Grantor. I will call again tomorrow to dispute this with them. With this showing "closed by grantor" will this have a negative impact on my credit report especially when I apped for another credit card from another bank? Will bank frown seeing that it's closed by the grantor? I am concerned now for my other accounts/banks that they may see that my care credit was closed by the grantor Smiley Sad.  Can I dispute this and have it changed to show in all my credit bureaus? I am really not getting back with Synchrony!

Message 27 of 63
Moderator

Re: Blue envelope! So I closed all my 3 Synchrony cards!


dendom02 wrote:

Thank you all for the replies and additional information you shared on my thread. I checked my experian credit report this pm to see if my accounts are really closed .... and yes indeed it showed CLOSED and Paid Satisfactorily but my Care credit showed "Credit line closed-grantor request-reported by subscriber" and the Lowes and Marvel showed "Credit line closed-consumer request-reported by subscriber". I called CS and asked why my care credit showed closed by grantor and not by consumer, the CS mentioned that since I did not submit the 4506 forms they have to close it ... Smiley Sad. Now I'm really confused since my Lowes and Marvel showed "closed by consumer request and not by the grantor. I insisted that I called yesterday to close my accounts and clearly metioned to the CS to make sure that I am the ONE closing the accounts and not the Grantor. I will call again tomorrow to dispute this with them. With this showing "closed by grantor" will this have a negative impact on my credit report especially when I apped for another credit card from another bank? Will bank frown seeing that it's closed by the grantor? I am concerned now for my other accounts/banks that they may see that my care credit was closed by the grantor Smiley Sad.  Can I dispute this and have it changed to show in all my credit bureaus? I am really not getting back with Synchrony!


The FICO algorithm doesn't take who closed a card into account at all... it makes no scoring difference.  Some people prefer to have their reports reflect closed accounts as 'Closed by consumer' in the event that they have to go though a manual review, but honestly I've never heard of it making a difference even then.

 

If it really bothers you, you can try to pursue it but I'm not sure how much luck you'll have - you might end up just more frustrated. Smiley Frustrated

Message 28 of 63
Valued Contributor

Re: Blue envelope! So I closed all my 3 Synchrony cards!


UncleB wrote:

dendom02 wrote:

Thank you all for the replies and additional information you shared on my thread. I checked my experian credit report this pm to see if my accounts are really closed .... and yes indeed it showed CLOSED and Paid Satisfactorily but my Care credit showed "Credit line closed-grantor request-reported by subscriber" and the Lowes and Marvel showed "Credit line closed-consumer request-reported by subscriber". I called CS and asked why my care credit showed closed by grantor and not by consumer, the CS mentioned that since I did not submit the 4506 forms they have to close it ... Smiley Sad. Now I'm really confused since my Lowes and Marvel showed "closed by consumer request and not by the grantor. I insisted that I called yesterday to close my accounts and clearly metioned to the CS to make sure that I am the ONE closing the accounts and not the Grantor. I will call again tomorrow to dispute this with them. With this showing "closed by grantor" will this have a negative impact on my credit report especially when I apped for another credit card from another bank? Will bank frown seeing that it's closed by the grantor? I am concerned now for my other accounts/banks that they may see that my care credit was closed by the grantor Smiley Sad.  Can I dispute this and have it changed to show in all my credit bureaus? I am really not getting back with Synchrony!


The FICO algorithm doesn't take who closed a card into account at all... it makes no scoring difference.  Some people prefer to have their reports reflect closed accounts as 'Closed by consumer' in the event that they have to go though a manual review, but honestly I've never heard of it making a difference even then.

 

If it really bothers you, you can try to pursue it but I'm not sure how much luck you'll have - you might end up just more frustrated. Smiley Frustrated


Thank you UncleB Smiley Happy. I appreciate your input. Do you think that my current credit card accounts from other banks will frown if they will see the "closed by grantor"?

Message 29 of 63
Moderator

Re: Blue envelope! So I closed all my 3 Synchrony cards!


dendom02 wrote:

UncleB wrote:

dendom02 wrote:

Thank you all for the replies and additional information you shared on my thread. I checked my experian credit report this pm to see if my accounts are really closed .... and yes indeed it showed CLOSED and Paid Satisfactorily but my Care credit showed "Credit line closed-grantor request-reported by subscriber" and the Lowes and Marvel showed "Credit line closed-consumer request-reported by subscriber". I called CS and asked why my care credit showed closed by grantor and not by consumer, the CS mentioned that since I did not submit the 4506 forms they have to close it ... Smiley Sad. Now I'm really confused since my Lowes and Marvel showed "closed by consumer request and not by the grantor. I insisted that I called yesterday to close my accounts and clearly metioned to the CS to make sure that I am the ONE closing the accounts and not the Grantor. I will call again tomorrow to dispute this with them. With this showing "closed by grantor" will this have a negative impact on my credit report especially when I apped for another credit card from another bank? Will bank frown seeing that it's closed by the grantor? I am concerned now for my other accounts/banks that they may see that my care credit was closed by the grantor Smiley Sad.  Can I dispute this and have it changed to show in all my credit bureaus? I am really not getting back with Synchrony!


The FICO algorithm doesn't take who closed a card into account at all... it makes no scoring difference.  Some people prefer to have their reports reflect closed accounts as 'Closed by consumer' in the event that they have to go though a manual review, but honestly I've never heard of it making a difference even then.

 

If it really bothers you, you can try to pursue it but I'm not sure how much luck you'll have - you might end up just more frustrated. Smiley Frustrated


Thank you UncleB Smiley Happy. I appreciate your input. Do you think that my current credit card accounts from other banks will frown if they will see the "closed by grantor"?


You're welcome!

 

While technically an issuer can program their systems to respond/react to anything permitted by law (at the risk of sounding "tin-foil hat" here...), I've never heard or read of this being a problem in the real world.  Some people are concerned that upon manual review that an underwriter might take this into consideration, but there's no hard evidence one way or another.

 

Closed by grantor vs. closed by consumer has been discussed in other threads, and the consensus is generally that it's a much bigger deal to us than to any creditor (or potential creditor).  I tend to agree with this, but obviously it's subjective since nothing can be definitively proven either way.  Smiley Wink

 

TL;DR... I personally wouldn't lose too much sleep over it.  Smiley Wink

Message 30 of 63