SYNCHRONY CLOSE ALL MY ACCOUNT

[Anonymous]

sorry that i haven't anwser i was out and just got home, i still have the $ 89,200 of available credit, but still it sucks that i lost so much, i just check and me utilization is at 7% now so i guess it jump by 2 or 3% ytd.

[Anonymous]

i paid off city furniture last month, brandsmart i used like 20 days ago and pay off this monday, rooms to go i still own $455 and the PPMC I didn't even receive it.

[Anonymous]

i just use them one or twice a year so they don't close them, bcuz i don't need them but i guess they would have told me that they were closing them bcuz of that or they could have bring the credit line down, but they didn't, they just said wait for the letter but the main reason is that your credit is at high risk.

[Anonymous]

everything have been steady, not much change at all, 1 new cc and 3 cli in the last 6 months.

[CreditInspired]

---

@Anonymous wrote:

Hello everyone, i just got an alert that synchrony close all my account at the same time and just call them and they said that my credit is at high risk and they cant reverse it, i have around $85000 of available credit and 2% utilization.

rooms to go  $25000

city furniture $20000

brandsmart   $10000

pay pal mc    $6500

please any help with this, any recon line or is this just happening with them, thanks.

---

So sorry to hear but Synchrony is having some financial problems  based on this post from Snickerpedia  https://ficoforums.myfico.com/t5/Credit-in-the-News/Synchrony-not-doing-so-good/m-p/6037663#M22950

[GApeachy]

---

@Anonymous wrote:

everything have been steady, not much change at all, 1 new cc and 3 cli in the last 6 months.

---

Yeah, and we are all (well I am) in the same boat kinda, it's like always looking over your shoulder with certain Lenders that can dish it and take it.  There's really not much anyone can do to stop the gavel from coming down, though we (or I) try to figure dp's into the mix.  In the end, it sux and still sorry it happened to another mf'er (anyone) again.

eta: BTW...WELCOME to the board!

[CreditInspired]

---

@Loquat wrote:

---

@Anonymous wrote:

EX 751 - EQ 763 - TU 768  and my credit utilization is really low, cap1 is the only one at 18%, but you are right i heard that they are acting like that for sometime now, the funny thing is that the just gave me the paypal mc 2 days ago, now my accounts are close and i have a new inq for the next 2 years.

---

Hi OP and welcome!

I'm going to venture a guess and say that it was probably your recent approval that caught the attention of Synchrony.  Would you have been fine with your prior accounts with them had you not applied for the PPMC?  Maybe, maybe not.  But with all that's going on now it wouldn't surprise me if lenders are having a second set of eyes look at "some" approvals  even if your application is auto approved.

I don't want to be a fearmonger but I would advise anyone to proceed with caution at this time with credit applications...especially if you're really not needing the product at the moment anyway.  App'ing just to app may lead to situations of such...especially when one already has a high exposure with a lender. 

---

I second this. 

[Anonymous]

---

@CreditInspired wrote:

---

@Anonymous wrote:

Hello everyone, i just got an alert that synchrony close all my account at the same time and just call them and they said that my credit is at high risk and they cant reverse it, i have around $85000 of available credit and 2% utilization.

rooms to go  $25000

city furniture $20000

brandsmart   $10000

pay pal mc    $6500

please any help with this, any recon line or is this just happening with them, thanks.

---

So sorry to hear but Synchrony is having some financial problems  based on this post from Snickerpedia  https://ficoforums.myfico.com/t5/Credit-in-the-News/Synchrony-not-doing-so-good/m-p/6037663#M22950

---

thanks man, let's see where they are going with all this mess.

[AverageJoesCredit]

---

@CYBERSAM wrote:

Very sorry to hear. Based on what I've seen having their cards over $10 is not recommended given they have very high APR and not design for carrying balance.

On furniture I can see you would want a high CL but when you add few other cards, the high risk is your overall credit limit with them : (

---

I dont know, but i would hope ALL of my cards were over $10 or i couldnt buy much at the $1 store

[CYBERSAM]

---

@AverageJoesCredit wrote:

---

@CYBERSAM wrote:

Very sorry to hear. Based on what I've seen having their cards over $10 is not recommended given they have very high APR and not design for carrying balance.

On furniture I can see you would want a high CL but when you add few other cards, the high risk is your overall credit limit with them : (

---

I dont know, but i would hope ALL of my cards were over $10 or i couldnt buy much at the $1 store

---

HAHAHA ok you got me there 😂