@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.
Sorry that happened to you. That place is out of control.
Ahhh, Synch just doing what Synch does.
The thing I don't understand with Synch is that they sign up to back A LOT of store issued accounts, but seem to get pissy should someone happen to acquire and shop with store cards from a handful of individual retailers. Considering Synch likely backs north of 50 different card offerings, it's not too much of a stretch to think a typical mall rat could end up with 5-10 retail accounts that happen to be backed by Synch. It's the nature of the business that Synch has built, but they still seem to get freaked out when it happens.
The CLI's are another bewilderment. Call an offshore phone number and it seems most anyone can end up with a $30K Lowes CL, but other numbers and online requests get a big, fat nope! A few months later the right hand at Synch realizes that the left hand gave out that $30K line and suddenly goes into a fit while punching the "close everything!" button. Synch needs to get a handle on what they allow for CLI's in the first place instead of exercising the nuclear option once realizing they've given more than they feel comfortable with.
Part of me thinks that Synch is aggregating from too many information sources. Something suddenly doesn't agree between two or more of these data havesters and Synch gets cold feet fearing fraud or even bust out. Another theory I have is tied to their reliance on Vantage scoring 4, which seems to be less understood than FICO. Certain things that may cause a small blip in typical FICO 8 scoring can make a moderate to major wave in Vantage scoring, (and vice versa), especially with thinner files.
Whatever the reason, my lone Synch account is a $10K PP Credit account. This is a hold over from when it was a hidden TL from Comenity. I haven't touched it in over a year, but Synch occasionally sends me an email saying "Hey!, remember us? You still have this account you can use!". While the 6 months/zero interest could be handy in the future, it's nothing I need at this time. If they close it, c'est la vie... This is why I heavily diversify my lenders.
@BallBounces First, sorry for the closure I know that sucks and something in the back of all of our minds that have Sync cards. Next, curious as to how long you have had these cards and has to how often you requested CLI's (if at all). That info may help us/others as to insight into how Sync is thinking again.
