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Synchrony Bank Randomly closed 2 cards

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Member

Synchrony Bank Randomly closed 2 cards

So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

 

Experian: 719

Transunion: 689

Equifax: 660

 

Credit Utilization: 12%

Revolving Account Balance: $388

Late Payments: 0
Collections: 0
Negative Public Records: 0

Message 1 of 58
57 REPLIES 57
Valued Contributor

Re: Synchrony Bank Randomly closed 2 cards


@Christianno wrote:

So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

 

Experian: 719

Transunion: 689

Equifax: 660

 

Credit Utilization: 12%

Revolving Account Balance: $388

Late Payments: 0
Collections: 0
Negative Public Records: 0


Oh well.  You would be better to keep the Sync accounts closed.  Not worth it.  Better to keep CC with brand name banks.

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Message 2 of 58
Member

Re: Synchrony Bank Randomly closed 2 cards

The part that hurts me was the fact that they reported the new account on my credit profile the same day they cancelled it... like it straight-up lowered my average history. CLI, new card and both cards cancelled literally all in the same week.

Message 3 of 58
Frequent Contributor

Re: Synchrony Bank Randomly closed 2 cards

I'd be on the phone like pronto and calling them again to ask why they did what they did.

 

Hopefully it was suspected fraud or something that can be straightened out. Your total exposure to Synch with only two cards and the limits you've shared should not have triggered this unless something is terribly awry.

Message 4 of 58
Valued Contributor

Re: Synchrony Bank Randomly closed 2 cards



@Christianno wrote:

So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

 

Experian: 719

Transunion: 689

Equifax: 660

 

Credit Utilization: 12%

Revolving Account Balance: $388

Late Payments: 0
Collections: 0
Negative Public Records: 0


Im sorry that this happened to you,  however it is something that Sync does occasionally.. You might also be getting a blue envelope in the mail from them soon as well... 

 

Whats keeping your scores down? If you have no lates, collections, or anything your TU should be in the 700's. What is your overall Utilization? Do you have any card(s) that are near their limits?

 

 

One thing that sucks with Sync is that there is NO EO, and NO recon, and usually, NO explanation for their actions!

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 5 of 58
Valued Contributor

Re: Synchrony Bank Randomly closed 2 cards

Something here does not add up.

 

I have a 3500 Wally (opened with 500 just 3 months ago)

A 600 Amazon (opened same week as Wally)

A BP 2000 (opened 2 1/2 months ago and SL of 200)

 

My scores are well lower than yours.

 

Something has them spooked mate. 



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Message 6 of 58
Member

Re: Synchrony Bank Randomly closed 2 cards


@Moneyklutz wrote:

I'd be on the phone like pronto and calling them again to ask why they did what they did.

 

Hopefully it was suspected fraud or something that can be straightened out. Your total exposure to Synch with only two cards and the limits you've shared should not have triggered this unless something is terribly awry.


I called and both the rep and manager claimed that they could not give me any information. literally "business decision" was thrown around a few times. I cannot imagine why; i have never been late in the 9 months my walmart account was active and obviously i had no time to be late on the amazon card as it was closed literally the same day they shipped the card. I went over my transunion report since i know that was the report they pulled from and the only thing that i'd view as negative is the 7 inquiries on that report in the past year; 5 was for auto refinancing (rate shopping) and the other 2 was for the amazon card and a capital one card (didnt get improved because of "too many recent inquiries" on my equifax).


Message 7 of 58
Member

Re: Synchrony Bank Randomly closed 2 cards


@fltireguy wrote:


@Christianno wrote:

So today, i went online to pay my walmart card ($800 CL) issued by Synchrony Bank to find the most alarming red message saying "This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full"... this is alarming because I never ever requested this account be closed. I literally just received an automatic credit limit increase this month and 2 days ago I was approved for a Amazon Rewards Store Card ($1600 CL)which happens to also be issued by them. The walmart card was opened earlier this year and my credit is about the low 700's... Is this normal?? I've never been delinquent... EVER! I've always paid more than the minimum amount and always on time. What's even more alarming is when i called, no one could explain to me why and i was told the Amazon account i was JUST approved for only 2 days ago (haven't even received the card yet) was also closed and id have to wait to receive details about it in the mail. How does this happen?? I went over my credit report and it's literally the cleanest it's ever been aside from a few inquiries from mortgage lenders. Is it possible they decided to reject my accounts because they think i'll spend a bunch of store card credit on house stuff?? I'm honestly baffled...I almost want to cry. Has anyone else experienced this?

 

Experian: 719

Transunion: 689

Equifax: 660

 

Credit Utilization: 12%

Revolving Account Balance: $388

Late Payments: 0
Collections: 0
Negative Public Records: 0


Im sorry that this happened to you,  however it is something that Sync does occasionally.. You might also be getting a blue envelope in the mail from them soon as well... 

 

Whats keeping your scores down? If you have no lates, collections, or anything your TU should be in the 700's. What is your overall Utilization? Do you have any card(s) that are near their limits?

 

 

One thing that sucks with Sync is that there is NO EO, and NO recon, and usually, NO explanation for their actions!


the only issues with my scores are inquiries and limited credit history (average account history is 1 year with the new count included)... longest opened account is also 1 year since i literally started building my credit right before i purchased my car 1 year and 2 months ago. I still cant imagine that would be the reason they'd close it.... my scores were way worst when i opened the walmart card. 

Message 8 of 58
Member

Re: Synchrony Bank Randomly closed 2 cards


@TheCreditGame wrote:

Something here does not add up.

 

I have a 3500 Wally (opened with 500 just 3 months ago)

A 600 Amazon (opened same week as Wally)

A BP 2000 (opened 2 1/2 months ago and SL of 200)

 

My scores are well lower than yours.

 

Something has them spooked mate. 


yea.... i really cant grasp what could have them spooked is what's so confusing and mind boggling.... like they closed both accounts in succession. And this couldnt have happened til late this evening after they shipped my card and finally congratulated me on the CLI....

Message 9 of 58
Regular Contributor

Re: Synchrony Bank Randomly closed 2 cards

No rhyme or reason sometimes with Synch. They closed a card on me several years ago and I didn't find out until swiping at a register. Two weeks later received the letter with the reason: "Closed by creditor" and nothing else. Never did get a straight answer from them.
Message 10 of 58