More Synchrony Bank balance chasing

[privateone]

My PayPal MasterCard just got hit.  CL reduced to $100.  I'm wondering what's next.  

Got the card when I had relatively bad credit in the late 2010s.  Had a $700 limit.  My credit score has since soared.  The only change is I recently I got a divorce and had to use credit to pay for a cross country move.  My credit took a dip (from 779 down to 708), but my score was still much higher than it was when I first got the card (in the low-mid 600s then, after which my score dipped for a few years before greatly improving, but still maintained the $700 CL).

After the divorce, my debt utilization got as high at 22%, which is still not bad.  Also, I have never had any late payments.

I literally just finished paying everything off, including this account, several days ago.  Then, I got one of their infamous digital letters overnight listing some rather bizarre "big brother is watching you" type reasons for lowering my CL.  Reasons one and four aren't even true.

• Number Of Successful Down Payments On All Of Your Paypal Pay In 4 Installment Loans

• Number Of Non-Mortgage Trades With A Balance Increase Last Month

• Number Of Balance Increases On Non-Mortgage Accounts In Last 3 Months

• Proportion Of Credit Card Payments Using Paypal Wallet Account That Were Declined In The Last Year

[GreatLife]

Synchrony uses Vantage 4 scores so take a look at your score and rating factors verbiage on their site, then let us know what it says. And when's the last time you've updated income on PayPal account? Call and ask to have the previous limit reinstated once the recent payments report to CB's and you've verified income on your account.

[privateone]

Thanks.  I had no idea anyone was using anything other than Fico 8.  It does seem the Vantage scoring model is more sensitive to recent balance increases even if overall utilization is still within the safe range.

I looked at one of my accounts with them to check my Vantage 4 score.  It's 709.  That's not bad.  

Fico 8 has already gone up 15 points since yesterday as my accounts start reporting in.

Still doesn't make any sense.

Tried updating my income and can't find the link.  However, I'm sure it's not far off.

[Guyatthebeach]

@privateone,

Sychrony has a history of doing this. I think you will be able to your CL restored. I would call them and see what they can do. If they can't restore your CL, wait for six statements and try again. 

Just my opinion. 

Guyatthebeach

[TrapLine]

One question? With all the products available in the market place, why bother?

Reminds me of when I got tired of Capital One and their shenanigans and kicked them to the curb. Never looked back. Will add if they do end up with Discover Financial that too will get kicked to the curb.

Feel better now that I have said that. 

Forgot to mention that they do offer a lot of store cards that have specialized rewards. Yeah, I get that.

[privateone]

I shop at a lot of the stores where they have retail cards. However, after getting burned after Covid started, I am now very careful with how many other cards that I have with them and how I use them.

[Kantide]

They're doing the same to me. First with Sam's club, 2500 to 400 and they straight up closed my living spaces account. 

I called and they wouldn't do anything so...

[privateone]

I called once years ago.  It's like the movie Idiocracy at Synchrony - The computers run their decisions.

[TG101]

I only have two Synchrony cards.

CareCredit - $3,400 SL

Amazon Store - $300 SL

Seriously considering closing the Amazon Store card. 

[privateone]

I got balance chased on the Amazon card years back - $600 CL reduced to $180.

Put in for a CL increase when my credit greatly improved.  They had just given me an $8000 CL Lowe's card but yet wouldn't raise the Amazon CL.