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Master Synchrony Account Closure Thread

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Moderator

Master Synchrony Account Closure Thread

Has your Synchrony account (or accounts) been closed?  Discuss it here.

Message 438 of 657
656 REPLIES 656
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Frequent Contributor

Synchrony closed all of my accounts today

What a way to start a Friday... was looking at accounts trying to figure out a plan of attack with my reduction in wages.

 

Every Synchrony account I have is closed! With balance ($3,700 across 2 cards) or without doesn't matter they are all closed.

 

This will be a loss of $86,900 of available credit, which is going to drive my utilization through the roof!

 

So far they've left DW's account open. 

 

Only changes I can think of at the moment that may have played a role in this is the refinance of the wife's car; the new loan is reporting and the old loan is too. Ally said they won't be sending updates to credit bureaus until they are back to work.

 

I see I have a letter coming today from Synchrony, maybe it will tell me why.

 

So far they haven't touched my business lines either, who knows how long that will last.

Starting Score: EQ:608, EX:617, TU:625
Score 10/2018: EQ:669, EX:686, TU:668
Score 11/17/2018: EQ:682, EX:681, TU:683
Current Score 3/11/2020: EQ:695, EX:703, TU:720
12/24/2018 -- EQ Beacon 5.0: 678, EX Fico II: 690, TU Fico Classic 04: 716

Goal Score: 740+


Take the myFICO Fitness Challenge

Discover IT $1000Cabelas Clasic $1000Coscto Anywhere Signature Visa -Citi- $7200ExxonMobil Smartcard -Citi- $2500Playstation Visa (Comenity) $1950QuickSilver One $2200Walmart $6000Wells Fargo Platinum Visa $3000

Member of the Synchrony Bank giveth then Taketh away April 2020 Club! $86,900 in available credit gone without warning.

Newest Account July 8, 2020 -- Last HP August 11, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 1 of 657
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Community Leader
Valued Contributor

Re: Synchrony closed all of my accounts today

I'm so sorry to hear this. Sync has become brutal. I hope you get answers. I'll never touch this lender. Hang in there!!

Message 2 of 657
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Valued Contributor

Re: Synchrony closed all of my accounts today

So sorry. I just hope everyone can make it through these uncertain times.

Message 3 of 657
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Regular Contributor

Re: Synchrony closed all of my accounts today

How were you alerted of this?

 

 



Message 4 of 657
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Community Leader
Super Contributor

Re: Synchrony closed all of my accounts today

Wow, sorry to hear that. Will be checking back for an update.







Message 5 of 657
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Frequent Contributor

Re: Synchrony closed all of my accounts today


@jamaster14 wrote:

How were you alerted of this?

 

 


I have not received any alerts yet.

 

I discovered it when I was checking accounts to update my spreadsheets. 

Starting Score: EQ:608, EX:617, TU:625
Score 10/2018: EQ:669, EX:686, TU:668
Score 11/17/2018: EQ:682, EX:681, TU:683
Current Score 3/11/2020: EQ:695, EX:703, TU:720
12/24/2018 -- EQ Beacon 5.0: 678, EX Fico II: 690, TU Fico Classic 04: 716

Goal Score: 740+


Take the myFICO Fitness Challenge

Discover IT $1000Cabelas Clasic $1000Coscto Anywhere Signature Visa -Citi- $7200ExxonMobil Smartcard -Citi- $2500Playstation Visa (Comenity) $1950QuickSilver One $2200Walmart $6000Wells Fargo Platinum Visa $3000

Member of the Synchrony Bank giveth then Taketh away April 2020 Club! $86,900 in available credit gone without warning.

Newest Account July 8, 2020 -- Last HP August 11, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 6 of 657
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Frequent Contributor

Re: Synchrony closed all of my accounts today


@Brian_Earl_Spilner wrote:

Wow, sorry to hear that. Will be checking back for an update.


I forgot I had applied for the Marvel card a few weeks ago. The letter in the mailbox was it's denial letter dated April 12, 2020:

 

Not enough balance paid down over time on real estate secured loans  (mortgage is 14 months old have been paying extra $100 a month-- not surprising not much has been paid down on a 30 year loan in 14 months) 

 

Too many bank cards with a high balance (one card is nearly maxed from balance transfer) 

 

Not enough balance paid down over time on revolving accounts 

 

Too many Inquiries 

 

 

Score provided was from April 8, 2020 : 645

 

I always pay more than minimum, no lates in the last 8 years. 

 

Hopefully I get a letter explaining why. Old Navy Visa says I requested the closure (I did not) when I asked the chat bot online; all other accounts chat but says "sorry, it appears your account is closed".

Starting Score: EQ:608, EX:617, TU:625
Score 10/2018: EQ:669, EX:686, TU:668
Score 11/17/2018: EQ:682, EX:681, TU:683
Current Score 3/11/2020: EQ:695, EX:703, TU:720
12/24/2018 -- EQ Beacon 5.0: 678, EX Fico II: 690, TU Fico Classic 04: 716

Goal Score: 740+


Take the myFICO Fitness Challenge

Discover IT $1000Cabelas Clasic $1000Coscto Anywhere Signature Visa -Citi- $7200ExxonMobil Smartcard -Citi- $2500Playstation Visa (Comenity) $1950QuickSilver One $2200Walmart $6000Wells Fargo Platinum Visa $3000

Member of the Synchrony Bank giveth then Taketh away April 2020 Club! $86,900 in available credit gone without warning.

Newest Account July 8, 2020 -- Last HP August 11, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 7 of 657
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Frequent Contributor

Re: Synchrony closed all of my accounts today

Ugh I'm sorry to hear this. Smiley Sad

My Cards:


Future Cards:

US Bank Cash + Visa [May 2021 0/12, US Bank 1/12 Rule]
Chase Amazon Prime Rewards Visa [September 2021 4/24, Chase 5/24 Rule]
Currently: [0/6, 3/12, 9/24]
Message 8 of 657
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Regular Contributor

Re: Synchrony closed all of my accounts today

So sorry to hear that this happened! How many card with them? Only see 2 in siggy.  Have you called could it be fraud though the people reporting thing similar to this probably another account closure. That really sucks.



Things to do in 2020:
1. Pay off and get rid of Credit One.(Pay off done! Now to close it.)
2.Removal of late payments with my mortgage company.(I am currently working on this.)
3.Personal Loan through Navy Federal for payoff of HELOC or mortgage refinance Membership was approved.
Closed Cards/Accounts:
Message 9 of 657
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