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Master Synchrony Account Closure Thread

AverageJoesCredit
Mega Contributor

Re: Synchrony closed all of my accounts today

What Sync should do is lower limits not cut completely, especially for those who arent running up huge balances on their cards. Unfortunately  Sync decided on the pull at once bandaid  methodSmiley Sad

Message 90 of 1,099
chiefone4u
Established Contributor

Re: Synchrony closed all of my accounts today

@AverageJoesCredit 

 

All of my Synchrony accounts were already "closed by Grantor".

 

I'm wondering if @Caddypower might have found part of the answer (I talked to synchrony ) ... large lines of credit with other financial institutions. 

 

I think @ImTheDevil  is correct in that was the easy answer for CSR. I also think it very well could be a contributing factor in all this. 

 

This year added roughly $30k in Credit Limits between a new card from BECU, DW putting me as AU on her BoA card and CLI's.

 

-- not to get to far off topic --

I was looking at my Comenity exposure and questioned myself as to making changes. 

Overstock $14k

Wayfair $17k

Jared $15k

Williams-Sonoma $15k

Playstation Visa $2,750

 

I haven't used hardly any of those lines in a significant manner, purchased a couch for $2,500 on Wayfair in 2018 (never again, couch is already garbage and warranty requires me to ship it to China for repairs); ring for DW on Jared $3,500 (paid off already); mixer last year on WS; Playstation has recurring monthly payment ($30) on it.

 

-- End off Topic thought --  

Goodwill Saturation Technique

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 October 24, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 91 of 1,099
AverageJoesCredit
Mega Contributor

Re: Synchrony closed all of my accounts today

With how Sync uses trend data now no doubt other credit one has can come into play. But even when they were giving great increases ive always believed they checked your whole report especially when you call credit Solutions  and they pull afresh report. 

Message 92 of 1,099
tcbofade
Community Leader
Super Contributor

Re: I talked to synchrony

Valid points @ImTheDevil and @wasCB14 .

 

Sadly, I fit into that description perfectly.  Maximum CL's across many Synch lines with little or no use... and I keep seeing these threads and waiting for my turn in the barrel.

 

So far, one CLD, but no closures. 

09/01/21 Fico 8: EX 736, EQ 750, TU 746.
09/04/21 Fico 9: EX 741, EQ 757, TU No idea.

Zero percent financing is where the devil lives...
Message 93 of 1,099
GApeachy
Super Contributor

Re: Synchrony closed all of my accounts today


@chiefone4u wrote:

Score provided was from April 8, 2020 : 645

 

 

 

Is that Score 645 VS4 or Fico? 

ETA:  As far as Trended Data, this is a good read:  https://www.vantagescore.com/images/resources/Trended%20Credit%20Data%20WP%20-%20FINAL.pdf

Going by these charts you can pretty much size up which customer/consumer you are closely compared to.

"My Take Home Pay Don't Take Me Home"
Message 94 of 1,099
chiefone4u
Established Contributor

Re: Synchrony closed all of my accounts today


@GApeachy wrote:

@chiefone4u wrote:


 

 

Score provided was from April 8, 2020 : 645

 

 

 

Is that Score 645 VS4 or Fico? 

 


The letter did not specify, my guess is VS4 as my Fico's are/were 700 +/- 20 points. 

 

Transunion Fico8 was 725 on April 5th, Fico9 was 760 on April 7th

 

Experian Fico8 is 673 today (23% utilization after Synchrony reported closed accounts).

Goodwill Saturation Technique

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 October 24, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 95 of 1,099
ImTheDevil
Community Leader
Super Contributor

Re: I talked to synchrony

@tcbofade Hopefully you'll dodge the axe!



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | Wells Fargo Active Cash | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 96 of 1,099
GApeachy
Super Contributor

Re: Synchrony closed all of my accounts today

@chiefone4u  do you remember what your scores were compared to that score?  Wondering if your scores took a dive and if so by how much?  

"My Take Home Pay Don't Take Me Home"
Message 97 of 1,099
M_Smart007
Epic Contributor

Re: I talked to synchrony

 

First off, I am really tired ...

 

Ok, so here it goes, Sorry for others Synch closuresSmiley Sad

I am not trying to be un-sensitive to what happened.

 

I have had the worst "credit seeking behavior"   .. have opened don't know how many past 28+ NEW CC accts.

in 14 months along with (4) loans .while all FICO8 are well above 700 .. Vantage 4 sits at 649 per current Synch.

Vantage is slammed because new loans/accounts, as you can see the dip in March!

 

I am very close to max exposeure with Synch. I even opened two cards two days apart this year,

also have had a few CLI's .. Have smashed the Increase button until I am sick of letters.

 

I am currently @ 5% utilization across all loans and CC's ..

Synchrony cards are at "ZERO" balance with the exception of Amazon store card (reported $12)

I have been putting spend on all of them, but not big spend .. small potatoe spend! (between $8-$200)

 

I have had NO AA/CLD   .. and I have well over 1 million available credit.

No Lates/Bads/CO's/BK's or anything negative .. only 1 account closed by lender 4 years ago for non-use. (Gas Card)

 

So Why I posted this @longtimelurker had mentioned in another thread "we do not always hear the full story"

I wanted to give my story. It is my guess that if you have a pretty solid credit report, good payment history.

Utilization in check, usage on the cards. I don't think lenders are closing just to close and lose customers.

 

Amex and Chase have not flinched. ... I do not have Sir Barclay or Comenity   .. so I cannot speak about them.

 

If I receive any CLD's or AA .. I will post that, and My guess is, " if I get it"   ..Ya'all better run for the hills!

 

I could be next on the chopping block so to speak, do I lose sleep over it.  ..NO!

It is only Credit, and I have lost a lot more in this life.

 

Those that want to stone me or throw rocks .. be my guest.

Message 98 of 1,099
Remedios
Moderator

Re: I talked to synchrony

@Caddypower  I've merged your two threads, as they are dealing with the identical issue.

Feel free to add *Update* to the title of this thread. 

Message 99 of 1,099
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