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I will post here saying Sync just closed all my open cards with them. All of them.
That's 6 tradelines. That's $50,800 in credit lines. I wascarrying a whopping $1500 on those credit lines.......
A phone call to Sync was fruitless.... they could explain nothing.
Bad time considering my utl was under 9 and I will be mortgage shopping......
Too say I am displeased is an understantement. I actually liked most of those cards, you know, when they existed.
I only have 1 sync card. But thinking about 2 more = 3 total (max) with them.
Please update when you get a reason for the x6 closures so I can keep the data points in mind prior to apps.
@BallBounces ouch and sorry
You recently posted about 20+ points loss on TU that you couldn't find an explanation for. Do you know is same/similar happened with your VS4 scores or did they remain steady?
@BallBounces wrote:I will post here saying Sync just closed all my open cards with them. All of them.
That's 6 tradelines. That's $50,800 in credit lines. I wascarrying a whopping $1500 on those credit lines.......
A phone call to Sync was fruitless.... they could explain nothing.
Bad time considering my utl was under 9 and I will be mortgage shopping......
Too say I am displeased is an understantement. I actually liked most of those cards, you know, when they existed.
I'm only speculating here, but the closure may be due to low use. At the time of shutdown, you were using less than 3% of your CL. CCCs thrive on swipe fees and some feel if you're not using your cards enough, they want to make that money available to consumers who will use it.
Just my 2cents
@BallBounces wrote:I will post here saying Sync just closed all my open cards with them. All of them.
That's 6 tradelines. That's $50,800 in credit lines. I wascarrying a whopping $1500 on those credit lines.......
A phone call to Sync was fruitless.... they could explain nothing.
Bad time considering my utl was under 9 and I will be mortgage shopping......
Too say I am displeased is an understantement. I actually liked most of those cards, you know, when they existed.
I'm sorry that happened to you. If it's any consolation, just keep in mind that you're one of MANY whose entire lineup of Synchrony cards got closed, for no apparent reason. They haven't pulled that on me--yet--but every time I read a[nother] thread like this, I brace myself for it.
I agree with another person who guessed that low usage was the 'reason' they closed the cards. Your utilization was very low--as is mine--and I've gleaned that they don't like that.
Losing $50,000+ in credit has got to be painful. But, on the bright side, you're done with Synchrony! Consider that a blessing.
Sorry for your closures . Last massive go around here my hubby had all his closed lost over 80K I think. I was ready to be next but they just shut down my lowes (35K) I still have quite a few so waiting for my turn to eventually come .
@SoCalGardener wrote:
@BallBounces wrote:I will post here saying Sync just closed all my open cards with them. All of them.
That's 6 tradelines. That's $50,800 in credit lines. I wascarrying a whopping $1500 on those credit lines.......
A phone call to Sync was fruitless.... they could explain nothing.
Bad time considering my utl was under 9 and I will be mortgage shopping......
Too say I am displeased is an understantement. I actually liked most of those cards, you know, when they existed.
I'm sorry that happened to you. If it's any consolation, just keep in mind that you're one of MANY whose entire lineup of Synchrony cards got closed, for no apparent reason. They haven't pulled that on me--yet--but every time I read a[nother] thread like this, I brace myself for it.
I agree with another person who guessed that low usage was the 'reason' they closed the cards. Your utilization was very low--as is mine--and I've gleaned that they don't like that.
Losing $50,000+ in credit has got to be painful. But, on the bright side, you're done with Synchrony! Consider that a blessing.
Why is it a blessing? They have some good cards. I use my PayPal and care credit all the time. At some point I'll get the Verizon card to help pay for upgrades. Car care is also another one I'm looking at. I've never had problems with them. But then again, I also don't have 70k of unused credit with them either.
@CreditInspired wrote:
I'm only speculating here, but the closure may be due to low use. At the time of shutdown, you were using less than 3% of your CL. CCCs thrive on swipe fees and some feel if you're not using your cards enough, they want to make that money available to consumers who will use it.
Don't they CLD rather than close. I only have 2 Sync cards, and one was recently CLDs for lack of use. (Waiting for the other to be hit!)
@Brian_Earl_Spilner wrote:
@SoCalGardener wrote:I'm sorry that happened to you. If it's any consolation, just keep in mind that you're one of MANY whose entire lineup of Synchrony cards got closed, for no apparent reason. They haven't pulled that on me--yet--but every time I read a[nother] thread like this, I brace myself for it.
I agree with another person who guessed that low usage was the 'reason' they closed the cards. Your utilization was very low--as is mine--and I've gleaned that they don't like that.
Losing $50,000+ in credit has got to be painful. But, on the bright side, you're done with Synchrony! Consider that a blessing.
Why is it a blessing? They have some good cards. I use my PayPal and care credit all the time. At some point I'll get the Verizon card to help pay for upgrades. Car care is also another one I'm looking at. I've never had problems with them. But then again, I also don't have 70k of unused credit with them either.
Is this a rhetorical question?
Yes, I agree, they definitely have some good cards--albeit with ridiculously high APRs--and I use some of mine a LOT. But that doesn't make Synchrony a good entity. Based just on what we see on this forum, i.e., mass closures for no apparent reason of perfectly good accounts, I'd think it's obvious why it's a blessing to be done with them. Knowing you're a good customer, always pay on time, never have any kind of account issues, and yet the shoe can drop at any moment and all your accounts can be closed....yeah, I'd say being done with that is a blessing. Your opinion may vary!