Lower interest rates on closed Synchrony accounts?

[jedifrogman2]

I was unfortunate enough to be part of Synchrony's big purge in 2020. Nearly $50,000 of unused limit across 8 cards just vaporized and effectively doubled my utilization percentage. I'm still paying on 2 of these cards which have an interest rate of about 27%. Would they consider lowering the interest rates? They have brutally indicated that they don't want my business, so I don't want to be their prisoner. Has anyone had any luck with this?

[FinStar]

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@jedifrogman2 wrote:

I was unfortunate enough to be part of Synchrony's big purge in 2020. Nearly $50,000 of unused limit across 8 cards just vaporized and effectively doubled my utilization percentage. I'm still paying on 2 of these cards which have an interest rate of about 27%. Would they consider lowering the interest rates? They have brutally indicated that they don't want my business, so I don't want to be their prisoner. Has anyone had any luck with this?

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Unfortunately, it's unlikely they will lower APRs unless you're in some sort of hardship program. I would recommend looking into any cards you may currently have to see whether any of them offer any type of promotional or low APR BTs.

[SoCalGardener]

I agree with @FinStar that it's very unlikely. I mean, a company that's cut-throat enough to abruptly shut down perfectly good accounts, with neither warning nor explanation....yeah, I don't think they'd be too keen on helping you out by lowering your APR.

Check your other cards for 0% (or very low) balance transfer offers, and/or consider opening a new card that does have an attractive BT offer.  Even if you've checked your other cards lately for BT offers and they didn't have any, check again--mine come and go!