Synchrony Account Closures

[GApeachy]

I'm just glad to know you are in a position to be able to work from home while kicking cancer in the tailpipe.  Also glad to know this total closure with Synch hasn't tripped you up or I hope those two balances didn't.  Also really glad they left your Biz accts. alone....that's a positive sign.    You didn't need Care Credit any did you?  

.....and maybe being that you were over their maximum exposure made the 'puters hiccup and wanted to lower your personal exposure while leaving your biz credit/exposure intact, thus not creating a hardship on you.  Hopefully those biz accts. will remain solid.  That's gotta be a good sign I would think. 

Good luck and prayers all the way around!   Btw, liking ur positive attitude!  Thanks for the wild Dp's too.  ((cough)) Now I'm off to check my Synch stuff (AGAIN) just cuz, ya know.......show of hands anyone? 

[ocheosa]

Sorry for your troubles. Not to sound like a noob but are you sure they are closed ? Looks like synchrony is having technical difficulty with card websites (yet again) this afternoon.

[GApeachy]

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@ocheosa wrote:

Looks like synchrony is having technical difficulty with card websites (yet again) this afternoon.

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I just logged into all of ours.

[ocheosa]

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@GApeachy wrote:

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@ocheosa wrote:

Looks like synchrony is having technical difficulty with card websites (yet again) this afternoon.

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I just logged into all of ours.

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Thank you, I'm back up and running. Had hoped the wave ended but guess we may be in for another rash of account closures. Sighs.

[althes]

It says closed.

I checked like 3 times.

The business accounts have 0 balance.

I adhere to paying them down to zero.

My debts are really all medical thats why so high.

Just glad I did the fence before this happened.

I like Lowes thats why I will wait 6 months to a year and try again.

Can even wait 2 years until I pay it off.

I am nearly done with house stuff so no worries.

I have 2 years to pay for the fence 0% deferred.

So I will use Home Depot card from now until then.

[althes]

Nope didn't need care credit.

[GApeachy]

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@althes wrote:

Nope didn't need care credit.

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Good!  So Synch, even though they closed your Lowe's Acct., will continue on with the Promotional Plan?  That's awesome!!!

[Anonymous]

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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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  You never went to the garden huh?    lol

[ocheosa]

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@althes wrote:

It says closed.

I checked like 3 times.

The business accounts have 0 balance.

I adhere to paying them down to zero.

My debts are really all medical thats why so high.

Just glad I did the fence before this happened.

I like Lowes thats why I will wait 6 months to a year and try again.

Can even wait 2 years until I pay it off.

I am nearly done with house stuff so no worries.

I have 2 years to pay for the fence 0% deferred.

So I will use Home Depot card from now until then.

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Good for you @althes ! Although closures can be a nuisance, this scenario makes the case for accounts with multiple lenders. As well as having a good amount of padding. It's awesome that you are in a position to easily overcome the few closures. Guess they simply wanted to lower the overall exposure since they kept your business accounts active. I would also consider picking up Lowe's again once all the dust settles. IIRC doesn't Synchrony also back a Lowe's business credit card ?

[althes]

Yes Lowes has a business card but the limits are hard to get very high.

ALthough I am working on that as I have the Lowes Business card.

Below is Experian as of today, it shows all the closed accounts.

680 Fico 2 3-13-20 300-850 Mortgage
681 FiCO Auto 2 3-13-20 250-900
704 FICO 8 Auto 3-13-20 250-900
653 FICO Bankcard 2 3-13-20 250-900
660 FICO 3 3-13-20 300-850
755 FICO Bankcard 8 3-13-20 250-900

726 Fico 8 3-13-20 300-850 

So I lost 8 points on FICO 8.

The others lost 8-20 points.

As I pay down debt that will go up.