Synchrony Accounts closed without warning

[Lou-natic]

---

@GreyvyTrain wrote:

@Lou-natic 

---

@Lou-natic wrote:

---

@GreyvyTrain wrote:

@Patient957 Agreed, that could very well be their reasoning too. However, I have hit the CLI request button about once a month for the last year, so not sure if it was just the review at 1 year of account opening, me periodically asking for a CLI, or the fact that I asked for one immediately after receiving one. Only the guy behind the computer at Synchrony knows!

---

How much credit limit did you have in total with Synch before the CLI request? I'm willing to bet money that your request put you over some internal limit they had and that's what did you in. Typically you want to keep your total Synchrony exposure as low as possible. Certainly 50k seems to be about the maximum that you want to keep with them and that's across all cards. I've heard of people being cut at 35k total exposure though. I'm at 20k right now and am leery about pushing it higher with another card even though a Lowe's card makes sense for me.

---

4.5K CareCredit, 1K Lowes.

After CLI before closing, 7K Care, 5K Lowes.

---

Wow, I don't think I've seen anybody else with such low total exposure canceled before. That sucks. I'm gonna go out on a limb and say that asking for CLIs on both cards with the profile you have spooked them for sure. Good thing is this isn't a permanant thing, if you want back in later on down the line you will probably be able to, give it at least a year. They aren't "out to get you" it's just how they work.

[GreyvyTrain]

Was able to get a little more info from the Live Agent at Synchrony, though I'm not sure how reliable they are. They are stating my account was closed due to activity on it, and the credit bureaus requested it be closed. The first rep stated lack of activity, and also late payments, neither of which made sense - they then retracted that statement and immediately disconnected with me. The second representative told me to contact the credit bureaus as it was their decision to have my accounts closed.

[MileHigh96]

---

@GreyvyTrain wrote:

Was able to get a little more info from the Live Agent at Synchrony, though I'm not sure how reliable they are. They are stating my account was closed due to activity on it, and the credit bureaus requested it be closed. The first rep stated lack of activity, and also late payments, neither of which made sense - they then retracted that statement and immediately disconnected with me. The second representative told me to contact the credit bureaus as it was their decision to have my accounts closed.

---

That's just impossible, the credit bureaus have absolutely no control on requesting that accounts be closed.  They're either lying or just are misinformed about the facts and therefore have no business doing that job.

[GreyvyTrain]

@MileHigh96 My thoughts exactly. I spoke with another rep first, who gave me incorrect information stating it was due to late payments and due to inactivity, then apologized that was incorrect and immediately closed my chat. I don't think anyone there knows what they're doing.

[IcyCool7227]

Any update on what the letter says?

[GreyvyTrain]

@IcyCool7227 

It's been a bit, but if I recall I believe it was very vague and said after review that I was considered a risk for failure to pay. Haven't missed payments in years, so I think they just got spooked that I got 2 large CLIs with both the carecredit and Lowe's card and decided to pull the rug. 

[JUICYJ]

 Synchrony looks at all credit reports and they look at you other creditlines. I open a Rooms to Go acct 4/2001 and my furniture was delivery late May because the Manufactor had to make more furniture. So my 1st pmt was due in May $34.00 monthly I wanted to pay it down alittle so I paid $650 in June 2021. So in Nov 2001 I was getting ready to pay my monthly pmt $34.00 I notice they had took my creditline down to the amt my furniture cost and left me with a creditline available left $62.00. I call Synchrony and they told me they look at your credit report every 6 months to see how you pay your other bills and if your utilizations on your other your other credit's or credit cards are not at 30% they have a right to take you creditline away or close your acct. They also close your acct if you don't use your acct.

[visionsdivine]

---

@JUICYJ wrote:

 Synchrony looks at all credit reports and they look at you other creditlines. I open a Rooms to Go acct 4/2001 and my furniture was delivery late May because the Manufactor had to make more furniture. So my 1st pmt was due in May $34.00 monthly I wanted to pay it down alittle so I paid $650 in June 2021. So in Nov 2001 I was getting ready to pay my monthly pmt $34.00 I notice they had took my creditline down to the amt my furniture cost and left me with a creditline available left $62.00. I call Synchrony and they told me they look at your credit report every 6 months to see how you pay your other bills and if your utilizations on your other your other credit's or credit cards are not at 30% they have a right to take you creditline away or close your acct. They also close your acct if you don't use your acct.

---

I have 4 Synchrony accounts with fairly high limits and haven't had any issues with account closure or limit cuts (fingers crossed I didn't jinx myself).

I have every single secondary credit bureau listed on the CFPB website frozen along with the Big 3 at all times unless I'm applying for credit. I wonder if this somehow stops the systematic trigger of Synchrony doing a periodic soft pull on me.

[Jnbmom]

---

@visionsdivine wrote:

---

@JUICYJ wrote:

 Synchrony looks at all credit reports and they look at you other creditlines. I open a Rooms to Go acct 4/2001 and my furniture was delivery late May because the Manufactor had to make more furniture. So my 1st pmt was due in May $34.00 monthly I wanted to pay it down alittle so I paid $650 in June 2021. So in Nov 2001 I was getting ready to pay my monthly pmt $34.00 I notice they had took my creditline down to the amt my furniture cost and left me with a creditline available left $62.00. I call Synchrony and they told me they look at your credit report every 6 months to see how you pay your other bills and if your utilizations on your other your other credit's or credit cards are not at 30% they have a right to take you creditline away or close your acct. They also close your acct if you don't use your acct.

---

I have 4 Synchrony accounts with fairly high limits and haven't had any issues with account closure or limit cuts (fingers crossed I didn't jinx myself).

I have every single secondary credit bureau listed on the CFPB website frozen along with the Big 3 at all times unless I'm applying for credit. I wonder if this somehow stops the systematic trigger of Synchrony doing a periodic soft pull on me.

---

Nope they can still SP you with a freeze .

[visionsdivine]

---

@Jnbmom wrote:

---

@visionsdivine wrote:

---

@JUICYJ wrote:

 Synchrony looks at all credit reports and they look at you other creditlines. I open a Rooms to Go acct 4/2001 and my furniture was delivery late May because the Manufactor had to make more furniture. So my 1st pmt was due in May $34.00 monthly I wanted to pay it down alittle so I paid $650 in June 2021. So in Nov 2001 I was getting ready to pay my monthly pmt $34.00 I notice they had took my creditline down to the amt my furniture cost and left me with a creditline available left $62.00. I call Synchrony and they told me they look at your credit report every 6 months to see how you pay your other bills and if your utilizations on your other your other credit's or credit cards are not at 30% they have a right to take you creditline away or close your acct. They also close your acct if you don't use your acct.

---

I have 4 Synchrony accounts with fairly high limits and haven't had any issues with account closure or limit cuts (fingers crossed I didn't jinx myself).

I have every single secondary credit bureau listed on the CFPB website frozen along with the Big 3 at all times unless I'm applying for credit. I wonder if this somehow stops the systematic trigger of Synchrony doing a periodic soft pull on me.

---

Nope they can still SP you with a freeze .

---

I'm not doubting you, but I wonder why some lenders refuse to do a prequal until you lift a freeze. Maybe because you're not a customer yet and haven't yet agreed to some kind of terms and conditions where they can soft pull you at any time?