Synchrony Account Closures

[althes]

Got hit this morning for 138k.

All personal account closed.

They have not touched business accounts.

Data Points.

Had a balance on Lowes for a fence I got installed 6.5k.

Balance on Amazon 1k.

No other balances on any other cards.

Had a mix of care credit and retail and gas cards and mastercards.

Retail cards used every 3-4 months.

Gas cards rotated.

I used 1 mastercard on plastiq every month.

The other one was used sparingly.

I am LOL/24.

I do have 82 open accounts.

With these closures and some others(culling) down to 66 open accounts.

No escalating debt.

I think they are spooked with the market and this virus.

So everyone be on the lookout.

I will give them 3 months and then see if I can get back Lowes and a mastercard.

Will see how this hits my credit TU 740, EX 734, EQ 734 FICO 8.

My Vantage TU 696 and EQ 735.

I currently have cancer and I am working from home for the foreseeable future.

Other things of note, in Dec 2018/Jan 2019 I was diagnosed and those few months were hectic.

I got 2 late payments on 2 other accounts.

Missed a couple payments on some Synch accounts and they cut my limits.

But after about 6 months they restored limts and the cli's came back.

[althes]

I still have over 300k in credit so no worries.

Just glad I spread the wealth around and didn't put all my eggs in one basket.

Debt about 46k, have a mortgage and car payment.

[FireMedic1]

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@althes wrote:

Got hit this morning for 138k.

All personal account closed.

They have not touched business accounts.

Data Points.

Had a balance on Lowes for a fence I got installed 6.5k.

Balance on Amazon 1k.

No other balances on any other cards.

Had a mix of care credit and retail and gas cards and mastercards.

Retail cards used every 3-4 months.

Gas cards rotated.

I used 1 mastercard on plastiq every month.

The other one was used sparingly.

I am LOL/24.

I do have 82 open accounts.

With these closures and some others(culling) down to 66 open accounts.

No escalating debt.

I think they are spooked with the market and this virus.

So everyone be on the lookout.

I will give them 3 months and then see if I can get back Lowes and a mastercard.

Will see how this hits my credit TU 740, EX 734, EQ 734 FICO 8.

My Vantage TU 696 and EQ 735.

I currently have cancer and I am working from home for the foreseeable future.

Other things of note, in Dec 2018/Jan 2019 I was diagnosed and those few months were hectic.

I got 2 late payments on 2 other accounts.

Missed a couple payments on some Synch accounts and they cut my limits.

But after about 6 months they restored limts and the cli's came back.

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82 accounts may have been the downfall. And I doubt coronavirus and the markets dont have anything to do with it.

[Anonymous]

First, I am praying for you to beat the cancer. Second, sorry about your loss of the CC. Third, that was a lot of cards!

[althes]

Thanks very much for the prayers.

Yeah it just crept up on me that I had 82 cards.

You apply get a SUB put the card in the SD.

My fault.

[seattletravels]

1) good luck in your recovery

2) 82?!?!

😯

[CountryLad]

82 accounts? that's some chedda! If it's not too much trouble, and if you're ever bored, I'd love you to list the accounts. I'm crazy curious. I don't think I could even list 82 companies to apply to. Best of luck and prayers for your recovery. :-)

[BobbyInCO]

Ouch! Glad you have a good set of others to make up for the loss, though.

And best wishes for beating the cancer.  At least you're able to stay working from home while you conquer that.

[RSX]

I hope your treatment goes well!

i had 4 accts closed by Sync in Feb.  The difference is I won't be trying to open any CC's with them again

why would you try to get back with them? Especially with the amount of cards you already have?

[K-in-Boston]

Good luck with your treatment.  They appear to be doing a lot of account reviews lately.  I am doubtful this has anything to do with the current situation, but more an outcome that was looming due to the late payments and extremely aggressive credit seeking.