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PayPal MC CLI Yesterday, Today Account Closed???

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toi34
Established Contributor

PayPal MC CLI Yesterday, Today Account Closed???

Hello~

Like other posters, I rec'd the PPMC CLI over the weekend, then got an email that I had been upgraded to the World MC version, but today Synchrony closed ALL my accounts. NO warning, just closed! My overall utilization is 1%, and I pay my balances in full every month. No late payments on anything from any creditor. I use the AZEO method and only Amazon has a balance of $230.

I really wanted my CareCredit account for my pet, and Lowes for the house that I'm buying. 

This really sucks.

Message 1 of 33
32 REPLIES 32
Rebuild2019
Valued Contributor

Re: PayPal MC CLI Yesterday, Today Account Closed???

@toi34 so sorry that happened to you. This is why I have not tried to open a Lowe’s or any other Synchrony accounts. I have two accounts with them and I’m not looking for any more. Hope it works out. Did they give a reason for closure?

CARDS: Discover It | Kohl’s | Truist Spectrum Cash Rewards | Truist Bright | CITI Custom Cash | Chase Freedom Flex | Chase Amazon Prime Visa | VACU Cash Rewards Mastercard | Sam’s Club Mastercard | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | NFCU Auto Loan
Starting Scores 05/2019: EQ:519, EX:525, TU:574

CLOSED : Capital One Quicksilver One | OpenSky |
Message 2 of 33
MileHigh96
Frequent Contributor

Re: PayPal MC CLI Yesterday, Today Account Closed???


@toi34 wrote:

Hello~

Like other posters, I rec'd the PPMC CLI over the weekend, then got an email that I had been upgraded to the World MC version, but today Synchrony closed ALL my accounts. NO warning, just closed! My overall utilization is 1%, and I pay my balances in full every month. No late payments on anything from any creditor. I use the AZEO method and only Amazon has a balance of $230.

I really wanted my CareCredit account for my pet, and Lowes for the house that I'm buying. 

This really sucks.


Sorry this happened to you, but welcome to the new reality that is Synchrony.  This has been their M.O. going back more than a year now.  They closed every single one of my accounts late last year, all of them.  No warning, no notice, nothing.  Had never missed a payment and never been over my limit(s).  I'll never ever do business with them again.  It sucks, because I used Care Credit for our dogs al the time because of all the deferred interest perks they offered.  Plus I used the Lowe's card regularly when house things came up.  But after what they did to me, I'm done with them.

BK7 discharged - 06JUL2021
Loans:

Revolving Accounts (in the order they were opened):

Closed accounts:
Message 3 of 33
BearsCubsOtters
Frequent Contributor

Re: PayPal MC CLI Yesterday, Today Account Closed???


@toi34 wrote:

Hello~

Like other posters, I rec'd the PPMC CLI over the weekend, then got an email that I had been upgraded to the World MC version, but today Synchrony closed ALL my accounts. NO warning, just closed! My overall utilization is 1%, and I pay my balances in full every month. No late payments on anything from any creditor. I use the AZEO method and only Amazon has a balance of $230.

I really wanted my CareCredit account for my pet, and Lowes for the house that I'm buying. 

This really sucks.


I am sorry to read this. That would be a shock to the system to log in and see that. As others have said, this is unfortunately very common with Synchrony-especially to those that Synch has high exposure to.

Message 4 of 33
Anonymous
Not applicable

Re: PayPal MC CLI Yesterday, Today Account Closed???

Sorry to hear. Smiley Sad

 

Was looking into the PPMC but that settles that idea.

Message 5 of 33
Anonymous
Not applicable

Synchrony Closures Starting Again?

Well aware of the past Synchrony Closuregeddon and was wondering if they usually do these in waves or is it a one-off situation? With the Holidays upon us and Economy acting squiddish I think we may start to see a resurgence in CLDs once again. Massive CLI's recently with PPMC may have caught some attention I feel.

Message 6 of 33
Trini88
Established Contributor

Re: PayPal MC CLI Yesterday, Today Account Closed???

Oh wow that sucks! It's stories like these I keep hearing which makes me only want to get a Home Depot card when it's time for me to get my house smh. Synchrony keeps sending me mailers for Lowes and their MasterCard and I can't do it after reading all these posts.



Goal Cards:
Message 7 of 33
coldfusion
Community Leader
Mega Contributor

Re: Synchrony Closures Starting Again?

At least superficially at least to me the closures don't seem to be coming in waves, it feels that the rate of individual closure threads here has been fairly consistent. 

 

Right now anything that gets Synchrony's attention like CLIs on their cards (not just the PPMC) or carrying balances for a period of time does appear to put one at greater risk of closure.  

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 8 of 33
difringe
Established Contributor

Re: PayPal MC CLI Yesterday, Today Account Closed???


@toi34 wrote:

Hello~

Like other posters, I rec'd the PPMC CLI over the weekend, then got an email that I had been upgraded to the World MC version, but today Synchrony closed ALL my accounts. NO warning, just closed! My overall utilization is 1%, and I pay my balances in full every month. No late payments on anything from any creditor. I use the AZEO method and only Amazon has a balance of $230.

I really wanted my CareCredit account for my pet, and Lowes for the house that I'm buying. 

This really sucks.


Wow, I'm sorry to hear this! How many Synchrony cards did you have/what was your total exposure to them? Really is annoying that they didn't even send a warning or slash your limits first.

Message 9 of 33
lgtwriter
Frequent Contributor

Re: Synchrony Closures Starting Again?

@Anonymous is there any data that is causing you to wonder about closures? I have been getting regular cli (every 4-6 months or so) on my three synchrony cards. I think AA is still out there for those that have many Synchrony cards that they use primarily for padding, but I don't think the closure of those accounts is cyclical per se.

 

And of course AA can be taken if there is new negative info on a person's report. Of course as with anything YMMV.

 

I am always careful with my 3 Synchrony cards to not ask for too many cli and to make sure I use the cards. I am hoping this will be enough to keep them open and healthy

Message 10 of 33
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