@donna216 wrote:I can't believe Synchrony bank. I had about 25 credit cards with them and everything has been closed as of yesterday. Have an 800 credit score, never been late, am employed as a doctor, and make over $425k per year, and just like that, everything closed. Unbelievable. All of my Synchrony store cards (Amazon, PayPal, Sam's, Care Credit, BP Amoco, etc.). Is Synchrony going out of business?
Welcome to My Fico Forums, @donna216. But I see you've been a member since 03/13/2008 so you may have set a new record for joining and lurking for 13 years before your first posting! 
As discussed upthread, Synchrony started a wave of these shutdowns last year when the economy tightened during the early days of the pandemic. It's risk mitigation. Other lenders have done it also but they've been the most prevalent. It's happened to members with much lower scores than yours, probably due to the perceived risk. But it's also happened to members with high scores who had not used those credit limits much if any recently.
Hopefully, those 25 cards didn't make up the bulk of your credit limits and won't have a huge impact on scores. Still, this is another example of why purposefully diversifying your credit limits among many different lenders is a good insurance policy from a mass shutdown. From my experience, store cards are much more likely to get shutdown for non-use than major bank cards. Besides diversifying, keeping store cards as a minority of your overall credit lineup is wise for that reason.
In some cases, we've had members able to contact the lender about these shutdowns and reopen their accounts. You might consider that if they are still valuable to you. (ETA -Corrected 04/15.) Good luck!
