cancel
Showing results for 
Search instead for 
Did you mean: 

Master Synchrony Account Closure Thread

Caddypower
New Contributor

Re: Synchrony closed all of my accounts today

They closed my cards today also. 2 cards paid off never late. Oh well there's more fish in the sea, better fish 

Message 20 of 1,099
AverageJoesCredit
Mega Contributor

Re: Synchrony closed all of my accounts today

Im sorry to read this. One reason i always keep Sync at zero no matter what. Im sure we will see alot of this to come. For those of us with no income coming in its going to get brutal.  I have slot of debt but they reside with my credit Unions and ill hang on as long as i can. 

 

I agree with @SouthJamaica though, i hate when banks do it to a person who has not paid late and paying their responsibilities on time. I understand risk but wish we could take away money from banks when we know they are going to profit off our misery ahead of time!

Message 21 of 1,099
AverageJoesCredit
Mega Contributor

Re: Synchrony closed my accounts

And so it has begunSmiley Sad. Sorry  , i expect the same but with no income i dont want to use them anyway.

Message 22 of 1,099
SouthJamaica
Super Contributor

Re: Synchrony closed my accounts


@Caddypower wrote:

I liked the PayPal card but won't miss the other one. No lates and no balances. They cld recently so I guess they decided to go all the way. 

 

I have a few thousand on credit cards (not on synchrony) but my total credit limits on all cards is 250k so I'm very low utilization 

Just over 10k in lines cut so I still have plenty

 

Only other isuers to cancel were citi and chase. Us bank/elan, amex, and bank of America have given me increases. The amex was after recon but still a good outcome 

 

Oh and all scores almost on the mid 700s with my lowest score at 740


Sounds like Synchrony is on a card closing binge.

https://ficoforums.myfico.com/t5/Credit-Cards/Synchrony-closed-all-of-my-accounts-today/td-p/5989191

 


Total revolving limits 663000 (585000 reporting) FICO 8: EQ 716 TU 747 EX 713

Message 23 of 1,099
chiefone4u
Established Contributor

Re: Synchrony closed all of my accounts today


@Caddypower wrote:

They closed my cards today also. 2 cards paid off never late. Oh well there's more fish in the sea, better fish 


Sorry to hear your accounts have suffered the same fate. Hopefully your other creditors don't follow suit. 
 

BrutalBodyShots - Good Will 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 24 of 1,099
Caddypower
New Contributor

Re: Synchrony closed my accounts

Thanks 

They weren't my favorite so still thankful for what I have. 

 

I don't have the virus and still have my job with maybe only 20% pay cut due to no commission and still have credit lines that could be good in an emergency so I'm good overall. 

 

If I was a billionaire I'd buy a huge house and let people live there that needed to during these crazy times 

Message 25 of 1,099
AverageJoesCredit
Mega Contributor

Re: Synchrony closed my accounts

Ill tell ya @SouthJamaica  if things ever get better, these banks thst just close out someone deserve to have other close out on them and not use their cards. We will find out soon enough what banks will stand by their customers. Wonder where all the Cap One haters will stand after thisSmiley Wink

Message 26 of 1,099
chiefone4u
Established Contributor

Re: Synchrony closed all of my accounts today


@AverageJoesCredit wrote:

Im sorry to read this. One reason i always keep Sync at zero no matter what. Im sure we will see alot of this to come. For those of us with no income coming in its going to get brutal.  I have slot of debt but they reside with my credit Unions and ill hang on as long as i can. 

 

I agree with @SouthJamaica though, i hate when banks do it to a person who has not paid late and paying their responsibilities on time. I understand risk but wish we could take away money from banks when we know they are going to profit off our misery ahead of time!


I don't think I will be inviting Synchrony back into my wallet when the smoke clears, which is unfortunate as I spend a significant amount of money on their cards for the extra savings offered with Old Navy, JC Penney, Chevron and Amazon. 

 

I guess I'll need to wait two years and see if Chase will let me back for savings at Amazon (last denial was number of new accounts as the only reason listed).

BrutalBodyShots - Good Will 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 27 of 1,099
combatmedic2107
New Contributor

Re: Synchrony closed all of my accounts today

They got me too.  I called and was told that I had to much exposure and they were updated their systems.

Message 28 of 1,099
chiefone4u
Established Contributor

Re: Synchrony closed all of my accounts today


@combatmedic2107 wrote:

They got me too.  I called and was told that I had to much exposure and they were updated their systems.


Sorry to hear @combatmedic2107 

 

Did they close all accounts?

 

Maybe I should call to see if they will tell me why the accounts were closed. 

 

 

BrutalBodyShots - Good Will 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 29 of 1,099
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.