Master Synchrony Account Closure Thread

[FinStar]

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@Anonymous wrote:

@FinStar 

This is the point exactly. With Synchrony it has to be limited number of accounts/Credit Cards Say 3 to 4 and not too many CLIs. of course it does not guarrantee to protect your account with them since they have some made-up rules that are not necessarity the business best practice at all, so they might come up with something new to close the accounts.

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Right.  Plus, it has been a very interesting and perplexing set of events ever since the unit was spun-off from GECRB, and adopted the VS4 model for monitoring and a variety of UW decisions and added SageStream for added flavoring.  

In the past, there were plenty of individuals who received the "Blue Envelope" type of AA and it was typically indicative of income discrepancies, questionable transactions on SYNCB accounts and gorging on too many SYNCB (or other) accounts in a relatively short timeframe.

But, given the current economic climate, this has given SYNCB more powerful analytical tools to basically exit a variety of accountholder relationships that that deem are risky in their eyes.  In the process there's going to be a lot of collateral damage, unfortunately.

[Anonymous]

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go. 

Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault. I have three checking accounts and I have been distracted by starting my own business in March of 2020 and switching my banking accounts.

 However I have never been late. Not once. As soon as I realized the mistake I corrected it immediately. Needless to say, they don't care. They stated two returned payments in 12 months is automatical closure. 

My question is, do I have to worry about my PayPal card, and Care Credit? Has anyone survived a Synch closure and managed to keep their other cards intact? Or can I just assume this is the beginning of the end of my Synch love?

Never had a late payment on any accounts for the last 8 years, not that that matters to them obviously! lol I'm stressing over here for sure! 

[FinStar]

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@Anonymous wrote:

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go. 

Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault. I have three checking accounts and I have been distracted by starting my own business in March of 2020 and switching my banking accounts.

 However I have never been late. Not once. As soon as I realized the mistake I corrected it immediately. Needless to say, they don't care. They stated two returned payments in 12 months is automatical closure. 

My question is, do I have to worry about my PayPal card, and Care Credit? Has anyone survived a Synch closure and managed to keep their other cards intact? Or can I just assume this is the beginning of the end of my Synch love?

Never had a late payment on any accounts for the last 8 years, not that that matters to them obviously! lol I'm stressing over here for sure! 

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@Anonymous - Sorry to hear about the Lowe's account closure.  Typically, a variety of institutions restrict accounts or close them after 2 returned payment instances.

But, hopefully, all is not lost and your romance with SYNCB can continue with the other 2 cards.   What I would suggest is double-check the payment methods on PayPal and CareCredit to ensure the routing number and account information is correct to avoid any potential snafus.  

And, if no further action is taken within 30-45 days on those 2 accounts, then you should be ok.  Check them periodically and try using CareCredit at Walgreens, for instance (or Walmart for some pharmacy items) just for a nominal purchase, let it post and PIF.  Try using PayPal as well for a small purchase and PIF.

Hopefully you'll fly under the radar and the accounts will stay intact, but try not to let it stress you out.

[Anonymous]

Appreciate your input! That's what I'm praying for as I actually do utilize the PayPal as my daily card and Care Credit I like having for emergencies. So far everything is still open, here's to hoping it stays that way! 

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@FinStar wrote:

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@Anonymous wrote:

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go. 

Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault. I have three checking accounts and I have been distracted by starting my own business in March of 2020 and switching my banking accounts.

 However I have never been late. Not once. As soon as I realized the mistake I corrected it immediately. Needless to say, they don't care. They stated two returned payments in 12 months is automatical closure. 

My question is, do I have to worry about my PayPal card, and Care Credit? Has anyone survived a Synch closure and managed to keep their other cards intact? Or can I just assume this is the beginning of the end of my Synch love?

Never had a late payment on any accounts for the last 8 years, not that that matters to them obviously! lol I'm stressing over here for sure! 

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@Anonymous - Sorry to hear about the Lowe's account closure.  Typically, a variety of institutions restrict accounts or close them after 2 returned payment instances.

But, hopefully, all is not lost and your romance with SYNCB can continue with the other 2 cards.   What I would suggest is double-check the payment methods on PayPal and CareCredit to ensure the routing number and account information is correct to avoid any potential snafus.  

And, if no further action is taken within 30-45 days on those 2 accounts, then you should be ok.  Check them periodically and try using CareCredit at Walgreens, for instance (or Walmart for some pharmacy items) just for a nominal purchase, let it post and PIF.  Try using PayPal as well for a small purchase and PIF.

Hopefully you'll fly under the radar and the accounts will stay intact, but try not to let it stress you out.

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[Anonymous]

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@Anonymous wrote:

Appreciate your input! That's what I'm praying for as I actually do utilize the PayPal as my daily card and Care Credit I like having for emergencies. So far everything is still open, here's to hoping it stays that way! 

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@FinStar wrote:

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@Anonymous wrote:

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go. 

Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault. I have three checking accounts and I have been distracted by starting my own business in March of 2020 and switching my banking accounts.

 However I have never been late. Not once. As soon as I realized the mistake I corrected it immediately. Needless to say, they don't care. They stated two returned payments in 12 months is automatical closure. 

My question is, do I have to worry about my PayPal card, and Care Credit? Has anyone survived a Synch closure and managed to keep their other cards intact? Or can I just assume this is the beginning of the end of my Synch love?

Never had a late payment on any accounts for the last 8 years, not that that matters to them obviously! lol I'm stressing over here for sure! 

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@Anonymous - Sorry to hear about the Lowe's account closure.  Typically, a variety of institutions restrict accounts or close them after 2 returned payment instances.

But, hopefully, all is not lost and your romance with SYNCB can continue with the other 2 cards.   What I would suggest is double-check the payment methods on PayPal and CareCredit to ensure the routing number and account information is correct to avoid any potential snafus.  

And, if no further action is taken within 30-45 days on those 2 accounts, then you should be ok.  Check them periodically and try using CareCredit at Walgreens, for instance (or Walmart for some pharmacy items) just for a nominal purchase, let it post and PIF.  Try using PayPal as well for a small purchase and PIF.

Hopefully you'll fly under the radar and the accounts will stay intact, but try not to let it stress you out.

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With as flakey as Sync is, without adding in the factor of returned payments, I'd find a new daily driver. Sync cards have no place being someone's primary card; they will let you down eventually. 2% cards are a dime a dozen and you might even be able to beat that. 

[FinStar]

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@Anonymous wrote:

Appreciate your input! That's what I'm praying for as I actually do utilize the PayPal as my daily card and Care Credit I like having for emergencies. So far everything is still open, here's to hoping it stays that way! 

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@FinStar wrote:

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@Anonymous wrote:

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go. 

Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault. I have three checking accounts and I have been distracted by starting my own business in March of 2020 and switching my banking accounts.

 However I have never been late. Not once. As soon as I realized the mistake I corrected it immediately. Needless to say, they don't care. They stated two returned payments in 12 months is automatical closure. 

My question is, do I have to worry about my PayPal card, and Care Credit? Has anyone survived a Synch closure and managed to keep their other cards intact? Or can I just assume this is the beginning of the end of my Synch love?

Never had a late payment on any accounts for the last 8 years, not that that matters to them obviously! lol I'm stressing over here for sure! 

---

@Anonymous - Sorry to hear about the Lowe's account closure.  Typically, a variety of institutions restrict accounts or close them after 2 returned payment instances.

But, hopefully, all is not lost and your romance with SYNCB can continue with the other 2 cards.   What I would suggest is double-check the payment methods on PayPal and CareCredit to ensure the routing number and account information is correct to avoid any potential snafus.  

And, if no further action is taken within 30-45 days on those 2 accounts, then you should be ok.  Check them periodically and try using CareCredit at Walgreens, for instance (or Walmart for some pharmacy items) just for a nominal purchase, let it post and PIF.  Try using PayPal as well for a small purchase and PIF.

Hopefully you'll fly under the radar and the accounts will stay intact, but try not to let it stress you out.

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You bet @Anonymous.  Definitely keep us posted so that others who may be in a similar situation can learn from your experience and/or outcome.

I wouldn't throw away the SYNCB relationship if it's of value to you, all things considered of course.  Granted, the returned payments may have spooked Lowe's, but if the rest is salvageable, and as long as you fly under the radar, then you'll be good👍

SYNCB has had its share of unfortunate experiences for lots of individuals for a while, especially since the pandemic and economic conditions changed the landscape, but the majority of other cardholders who we are unlikely to hear from or see any reported positive experiences, their ship sails on. 

[Aim_High]

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@Anonymous wrote:

I'm terrified to even ask this question as I feel as though I already know the answer, but here we go.  Synch cancelled my Lowe's card because I've had two returned payments in 12 months. Totally my own fault ...  My question is, do I have to worry about my PayPal card, and Care Credit?

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Awww, sorry to hear about the lost Lowe's account, @Anonymous.  Besides the great advice above, I would ask how diversified you are with other lenders?  It sounds like you have a lot of exposure with Synchrony and over-exposure with any single lender can be risky if something like this occurs, even beyond the economic times of the pandemic.   Regardless of the outcome, I suggest you reevaluate your overall credit lines and spread them out a little to protect yourself if you haven't already done so.  Best wishes on keeping the other accounts intact!

[Anonymous]

My continued amazement with Synchrony Bank takes me to a different place today.  My 9 total credit card accounts were all shut down in 1 fell swoop 10 months ago and I have moved on.  Today I receive a pre qualified offer of credit from them for a type 2 Sam's club mastercard with an opening cl. of $6000. Im flattered,  but now its my turn to respectfully decline. I am happily and peacefully relaxing in the garden now with 40 other credit card accounts and my auto loan and my fico of 775.

Good day to you Synchrony Financial  !

Peace out all. !😃🤑

[TattnallTrio]

I opened my Sam's credit exactly 2 years ago this month. I received a credit monitoring alert that they closed my account at credit grantor's request. 
A few data points: I am 4 years and a month post bankruptcy discharge. I burned Synchrony for over 20,000 in that BK. My scores are in the low 700's. I have balances on most of my cards. I never maxed this card out before except for this past month and maybe that spooked them. This only happened because I purchased a new flat screen. My utilization is higher at 40%. Total credit card debit is $12,000. I don't have any inquiries in the last 12 months but I have 4-5 per bureau that are between 1-2 years old.  I will wait to see what their letter says. I thought I was pretty safe from

their closures. I'm not worried with it. Life goes on!

[Rebuild2019]

Sorry they closed your account.