I have been an avid synchrony user. Last year I applied for the Sam's MC but got Sam's store card. Since then, it has grown, the is 5K, but as I keep a zero balance on all cards and I am now diversifying my issuers, I really don't need the padding. As for all of my synchrony accounts, I use my Paypal Mastercard (2K) regularly, my Venmo Card (4K) once or twice a month, and I make sure to swipe my Care Credit (10K) once every two months at Walgreens. I took a gamble today, and I requested a CLI on my PMC and got a 1K increase, bringing my line to 3K, and then went ahead and closed my sam's club store card.
I may have flagged myself for possible accounts closing, but I really don't NEED any of my synchrony cards. It would suck because I love my Paypal MC, and like the peace of mind with having Care Credit financing but I am getting to the point that it is getting hard to maximize all the benefits when I have to swipe non rewards cards to keep them active. My spending is way down across the board as I work on completing my emergancy fund as well as my car replacement fund, and I start to agressivley pay off student loans. I plan on a reduction in my spend until 2023. So I figured I would trim the fat.
Anyone else do this and get burned?
I will report with any closure info for data points.
@CreditBloke Interesting indeed I do know several ppl that "trim their fat" so to speak but I'm not sure if they were all Synch that they did and what the end results were so I am interested to see ppl who have Synch reply
Some people have requested CLIs just to find all of their cards closed a week or so later and others requested CLIs on their 10 cards like normal and didn't face closure. It's still a pretty random pattern from what I have seen.