Synchrony Accounts Restricted

[Anonymous]

Good afternoon everybody, 

Providing an update and asking a question at the same time, 

Today I did receive the letter, it is indeed a 4506-T, sigh.

now, what I understand in the letter attached is that they need to verify my SSN, Tax ID number, OR, income. it doesn't say which one exactly is the issue.

Once again it mentiones that the 4506-T has to be sent with attention to the fraud department to some PO box, doesn't mention the third name company name. 

So I guess im screwed but still, if they were to close the account, and the balance is not $0, how do I pay that?

Thanks for all the information posted. 

[AverageJoesCredit]

If you close your accounts, you can still continue to pay your bill as usual though your utilization might be seen as 100%. Pay it off if you can or transfer the balance elsewhere. Sorry about the letter. Sone are ok doing it others not, just all depends on you. Just know if you choose not to do it, you might have similar issues in future if you try to app another Synchrony card. Good luck

[Anonymous]

Another update, mostly for reference of anyone in this situation in the future, 

I just called the phone number in the letter,  which is the fraud department number, 

I asked several questions

1) do you all want to verify my income or my Tax ID or SSN?

2) if you all want to verify my income, in 2017 I didn't have the same income that I have now, how does it work. (obviously in the credit application i put my current income)

3) are you using or not a third party and who will get my information.

Answers.

1) they said they DO NOT want to verify my income (background info: I wasn't born in the US, before you get a SSN they give you a W7 or tapayer ID to be able to file even as a dependant) that being said, they said they want to match ID numbers with the IRS.

2)they said in given case that they notice my income is not as high, they would figure out if the accounts can remain open with certain restrictions and or limitations.

3)they will not be using a 3rd party for the time being, any information I send will be shared only between the IRS and synchrony bank.

Does any of this make sense? 

[Anonymous]

It doesn't sound like simple fraud protection.

I don't know how much you want to put your faith in a CSR. I would not, he didn't sign a contract to protect your privacy, all you should rely on, is the teams of the letter, and form.

[AverageJoesCredit]

Not being born in the US, i can see where they want to make sure its you in regards to your apps or cards. Lots of id theft, in this case , i think you its ok but as stated, read all terms

[gdale6]

For verfication of SSN Forms SSA-89 is the form that one would sign and send in not a 4506-T. The 4506 T is going to give them a line by line trasnscript of what you filed with the IRS.

https://www.irs.gov/forms-pubs/about-form-4506-t

[JR_TX]

gdale is spot on!
SSA-89 is the form that verifies identity and SSN with the SSA. 4506-T is to verify income and access to the whole tax transcript with the IRS.
The CSR you spoke with is either an incompetent fool or a lying sack of p00p!
I wouldn’t trust a single word that was said to you on that conversation and yes including the one supposedly NOT tasking LN to obtain 4506-T outcome for them!
It’s your call OP but if it was me, I’d pay/BT it all off and tell them to pound sand! Nothing a Sync card offers that other lenders can’t do or even surpass!
Best of luck!

[KJinNC]

"It’s your call OP but if it was me, I’d pay/BT it all off and tell them to pound sand!"

Agree.

[AverageJoesCredit]

Actually @JR_TX, Synchrony does offer something others might not....its called not being a Chase csrd and having to bend to their whim. Sorry buddy, unfortunately some of us po folks need Sync cards as those bigger banks look down on us. Oh yeah , coffe on a Sunday all good

[KJinNC]

I would react the same way to any issuer. It is not an appropriate demand for a regular guy and a regular card IMO. I blew off Amex when they made that demand but for some reason got approved anyway.