cancel
Showing results for 
Search instead for 
Did you mean: 

Synchrony Accounts Restricted

soupy5
Frequent Contributor

Re: Synchrony blue envelope.

Sorry to hear this. I literally just joined the Sync family this month with the PayPal Mastercard, and now wondering if this is something I should expect? If you don't mind, please keep us posted on how this moves forward.

 

If you don't mind sharing, how many accounts do you have with Synchrony and how long have you been with them?

 

Thanks.



Current Scores Jul 2020 – FICO 8
Message 11 of 62
KJinNC
Valued Contributor

Re: Synchrony blue envelope.

As a regular guy, giving honest information on applications, maintaining or trying to get regular cards, I would be highly offended and exasperated if asked for a 4506-T. In fact, I was. I wanted an Amex card enough to jump through a lot of hoops, but that is a hoop I refused to jump through when Amex demanded it. (Then, strangely, they seemed to decide that was ok, and gave me the card anyway, but that's another story.)

 

If that's what they want, I'd close my accounts and let them know that I find it offensive. That's for people saying they make $500k, asking for a $100k credit card limit. It's not for standard situations, and a company requesting it in a standard situation is violating your privacy and expressing severe distrust for you. JMO.


FICO Resilience Index: 62. Cards: 17/24, 5/12, 0/6. Accounts including loans: 21/24, 6/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 12 of 62
Bufftahmkench
Member

Re: Synchrony blue envelope.

Absolutely, I will update my experience while it goes, it's gonna take some time since this letter is supposed to arrive within a week. 

 

I have three accouts on Synchrony.


Google store $1.5K

Amazon store card $1.3K

PayPal credit $1K

 

1) I have never requested a limit increase

2)I didn't lie on my income, im 21 years old and honestly I don't make that much money, but still I didn't embellished the numbers.

3)I got this three applications accepted within the last 2 and a half months. 

 

My oldest credit card is not a year old yet as I mentioned before, but it is a Capital One card.

 

I see people here with crazy amounts of credit lol, I can't believe they want to audit me. 

 

 

Message 13 of 62
Saeren
Mega Contributor

Re: Synchrony blue envelope.


@Bufftahmkench wrote:

Absolutely, I will update my experience while it goes, it's gonna take some time since this letter is supposed to arrive within a week. 

 

I have three accouts on Synchrony.


Google store $1.5K

Amazon store card $1.3K

PayPal credit $1K

 

1) I have never requested a limit increase

2)I didn't lie on my income, im 21 years old and honestly I don't make that much money, but still I didn't embellished the numbers.

3)I got this three applications accepted within the last 2 and a half months. 

 

My oldest credit card is not a year old yet as I mentioned before, but it is a Capital One card.

 

I see people here with crazy amounts of credit lol, I can't believe they want to audit me. 

 

 


That's definitely not a blue envelope situation right there. Wait for the letter but they probably just want more info about something or it's simple address verification. If they blue letter you with limits that small, they've officially lost it and ALL of us are in trouble. 



Message 14 of 62
longtimelurker
Mega Contributor

Re: Synchrony blue envelope.


@KJinNC wrote:

As a regular guy, giving honest information on applications, maintaining or trying to get regular cards, I would be highly offended and exasperated if asked for a 4506-T. In fact, I was. I wanted an Amex card enough to jump through a lot of hoops, but that is a hoop I refused to jump through when Amex demanded it. (Then, strangely, they seemed to decide that was ok, and gave me the card anyway, but that's another story.)

 

If that's what they want, I'd close my accounts and let them know that I find it offensive. That's for people saying they make $500k, asking for a $100k credit card limit. It's not for standard situations, and a company requesting it in a standard situation is violating your privacy and expressing severe distrust for you. JMO.


While there are good arguements as to whether one should comply with such requests, I certainly don't view it as offensive.     You may well be a " a regular guy, giving honest information on applications, maintaining or trying to get regular cards" or perhaps you are not, or maybe you were but have got in to difficulties, the issuer may not know  (and they don't want to be the first to report a default on an otherwise clean CR!).  Issuers, as credit tightens, may want more checks than in the past.   Credit amounts much lower than $100K will still cause losses and issuers want to protect themselves when they have concerns.

 

So I think it's a perfectly reasonable request and it's also perfectly reasonable for the consumer to choose not to comply.   It's not going to be done on a whim because of the cost to the issuer, only when they think it is worth checking.

 

(And again, OPs case may well be something different anyway).

 

 

Message 15 of 62
KJinNC
Valued Contributor

Re: Synchrony blue envelope.

If a company chooses to conduct business by implying its customers may likely be dishonest fraudsters and demand that they compromise data security to prove they aren't, that is certainly their right. But that is not a company I want to deal with, unless there is a clear, unusual reason for it.

FICO Resilience Index: 62. Cards: 17/24, 5/12, 0/6. Accounts including loans: 21/24, 6/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 16 of 62
Bufftahmkench
Member

Re: Synchrony blue envelope.

I've been looking forward to secured credit cards, 

 

Could a blue envelope situation like this happen with Bank of America for example? they've been sending me this secured card offer for a few months now. 

 

Synchrony just out right scared me with this thing.

 

 

Message 17 of 62
Bufftahmkench
Member

Re: Synchrony blue envelope.

What could happen if I called again and flat out asked if they sending me a blue envelope?

 

 

Message 18 of 62
wasCB14
Super Contributor

Re: Synchrony blue envelope.


@Bufftahmkench wrote:

I've been looking forward to secured credit cards, 

 

Could a blue envelope situation like this happen with Bank of America for example? they've been sending me this secured card offer for a few months now. 

 

Synchrony just out right scared me with this thing.


Did the Synchrony rep actually use the term "blue envelope"? Or are you assuming that the "letter" the rep mentioned is the same thing as the "blue envelope" tax transcript request you've read about on here?

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 19 of 62
Bufftahmkench
Member

Re: Synchrony blue envelope.

No he never used those words, I mentioned in another comment up there he said the "letter" was containing instructions to verify information, and that his department was fraud security. 

 

I looked up this symptoms on google and found out about the IRS form they like to request.

Message 20 of 62
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.