@FinStar wrote:
@Anonymous wrote:@FinStar WOW, I did not know that. I wish they had just told me that on the phone. I'm still pretty ticked about the remark the put on my credit report and mentioning in the letter that they closed it due to suspected unauthorized use, though. If they had just been honest about that, I wouldn't be having a hissy fit on this forum lol.
CareCredit was recommended to me by a friend who also has it... but he hasn't used his since 2019, but his account is still unscathed. So I'm still confused.
Just for clarification, the letter mentioned suspected unauthorized use as a reason or was it inactivity? I could only wonder what would constitute unauthorized use if you used the card at an acceptable service provider (such as your vet's office) that accepts CareCredit as a form of payment. Odd for sure 🤔
Make sure your friend uses his card at least somewhat frequently to avoid the axe 😬
@FinStarI know this sounds super weird, but the letter mentioned suspected unauthorized use AND inactivity. But then they told me it was inactivity. So I can't tell if it was deflection or WHAT, but my guess is for deflection because you were able to supply a way better reason than they could. 😂 I just told him about it and he's start paying for his monthly prescriptions with his CareCredit card and hope for the best (he usually uses a different card to get cash back but now he's paranoid. And for good reason seeing as this thread is full of people who also maintain their cards and are in perfectly good financial health but still had their accounts closed). His sister and mom also have CareCredit CCs that have gone untouched since late 2019 and they're also both active. So I just do not understand. 
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:It didn't have nothing to do with you not using your card since April, I was told by two separate Synchrony reps that you had to use your card at least once in a 12 month period. Synchrony at this moment is closing a lot of people's cards. It was said that 1 in every 4 Americans with Synchrony cards would be closed. My guess is they're too over extended and fear that because of the current economic situation that they will be stuck with a lot of debt that people would not be able to pay back.
Man that's messed up... It seems especially vile to close accounts that people use to finance their MEDICAL EXPENSES during a global pandemic.
Yeah but medical expenses are generally pretty large and people are more likely to pay their rent/mortgage and utilities than their credit cards when they're prioritizing things. Medical debt is already very low priority for most people although I don't know how it works when it's medical debt that's financed. I can't imagine it's too much more of a priority to people though.
I already believe that profit from sickness is unethical and immoral. I never thought of the medical credit angle. I thought to myself that Synchrony can lobby congress to lower healthcare costs if they are concerned with risk. Then I thought to myself. Duh! Well, it benefits Synchrony too if people have to finance their healthcare. 
@adelphi_sky wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:It didn't have nothing to do with you not using your card since April, I was told by two separate Synchrony reps that you had to use your card at least once in a 12 month period. Synchrony at this moment is closing a lot of people's cards. It was said that 1 in every 4 Americans with Synchrony cards would be closed. My guess is they're too over extended and fear that because of the current economic situation that they will be stuck with a lot of debt that people would not be able to pay back.
Man that's messed up... It seems especially vile to close accounts that people use to finance their MEDICAL EXPENSES during a global pandemic.
Yeah but medical expenses are generally pretty large and people are more likely to pay their rent/mortgage and utilities than their credit cards when they're prioritizing things. Medical debt is already very low priority for most people although I don't know how it works when it's medical debt that's financed. I can't imagine it's too much more of a priority to people though.
I already believe that profit from sickness is unethical and immoral. I never thought of the medical credit angle. I thought to myself that Synchrony can lobby congress to lower healthcare costs if they are concerned with risk. Then I thought to myself. Duh! Well, it benefits Synchrony too if people have to finance their healthcare.
Synchrony isn't as much the bad guy here though. There are many people who couldn't have gotten surgery they absolutely needed without financing it. The thing is I can totally see a situation where someone gets a $20K surgery and pays it with their CareCredit then turns around and files for BK. Considering there are even people on this forum who just rack up large debt, discharge it, and rebuild while doing the same with their spouse's credit before the next discharge, I doubt it's even all that uncommon. When you need surgery and you have to pay in advance, you do what you have to do. I can definitely see why Sync would be nervous about this particular card right now though.
Looking at their investor call transcript, CareCredit took a 60% dive in the 3Q because elective procedures are being postponed.
Just found out about an hour ago that our Synchrony cards were shutdown, all 6, count em' 6 credit cards!
Lowes - 17K
Carecredit - 15K
Paypal - 8K
Amazon Store - 6K
Discount Tire - 5K
Summit Racing - 5K
No "valid" reason to have them shutdown (IMO). They said that they were closed on 12.29.20 and that a letter has been sent with the reason.
Each card had regular monthly use, except carecreidt and summit (waitig to close on home to use). All had/have on-time payments and paid down in 60 days. Pulled up to date credit report today from all 3B's and literally no new anything. Negatives, collectons, late payments, nothing! So confused right now. If not for DW and I trying to close on our house I wouldnt care. But out of our may cards these accounted for approx. $55K. I believe took our overall available credit went from approx. $105K to $50k. 
. Aggregate UTI hovered around 9%, but over the last 6 months its creeped up to 13/14% due to us saving about 4K a month for downpayment. I know we are definitly going to take a UTI hit but this is just crazy.
I know they can shutdown for any reason but I am curious as to the reason
because we had these cards for at least 1.5 yrs with no changes except for the creep in avg utilization and the 3 credit pulls for mortgages within the last 30 - 45 days.
