Synchrony Bank Randomly closed 2 cards

[AverageJoesCredit]

 wrote:

The same thing just happen to me, they closed my Amazon store card for no reason, I have never been late on a payment. I always pay my bill right when it comes out and more than the minimum payment. I also have the Wal-Mart card and a gas card from synchrony bank. I don’t think I want to do business with these guys anymore; I’m closing all my cards with them at the end of the year. Stay away from this Synchrony bank guys, they have horrible customer service and they don’t care about their customers. I could understand if I was late on my payments and was in bad standing with them. My credit report is clean and they just gave me a credit increase on all three cards. I am very disapointined. Very bad bad, stay away from synchrony bank.

Ok, sorry to hear this. But please add more data please when say stay away from Sync Bank. How does your current reports look like. Any escalating debt? How much did you owe on the Amazon? . I agree if you always pay on time  and at least pay your minimum they shouldn't close an account but I guess you have to look at at it from their view . If you owe thousands of dollars and are paying like just $20 or $30 above minimum, that money will take a long time to get paid back. Other factor is how does your Experian look? Any baddies? Requesting any cli lately. 

I don't use my accounts as often as I should do when the ax falls I ll understand that's why I treat my Sync accounts as pay in full accounts so I can just close and go. But I can't berate them because in my credit experience they give more than any of my other creditors. At end of the day, they are all expendable as are we to them. 

[Anonymous]

I had a Walmart card that I used regularly for 1 1/2 years, paid off monthly. They just up and close accounts with no reason. They claimed my credit score, which had nothing but improved since getting the card. They even had the nerve to ask me if I knew my score, I replied “yes”, and the a$$ said “what is it?”. Synchrony has lost my respect.

[drboxing]

Better off without synchrony

[Anonymous]

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@AverageJoesCredit wrote:
@ wrote:

The same thing just happen to me, they closed my Amazon store card for no reason, I have never been late on a payment. I always pay my bill right when it comes out and more than the minimum payment. I also have the Wal-Mart card and a gas card from synchrony bank. I don’t think I want to do business with these guys anymore; I’m closing all my cards with them at the end of the year. Stay away from this Synchrony bank guys, they have horrible customer service and they don’t care about their customers. I could understand if I was late on my payments and was in bad standing with them. My credit report is clean and they just gave me a credit increase on all three cards. I am very disapointined. Very bad bad, stay away from synchrony bank.

Ok, sorry to hear this. But please add more data please when say stay away from Sync Bank. How does your current reports look like. Any escalating debt? How much did you owe on the Amazon? . I agree if you always pay on time  and at least pay your minimum they shouldn't close an account but I guess you have to look at at it from their view . If you owe thousands of dollars and are paying like just $20 or $30 above minimum, that money will take a long time to get paid back. Other factor is how does your Experian look? Any baddies? Requesting any cli lately. 

I don't use my accounts as often as I should do when the ax falls I ll understand that's why I treat my Sync accounts as pay in full accounts so I can just close and go. But I can't berate them because in my credit experience they give more than any of my other creditors. At end of the day, they are all expendable as are we to them. 

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Why wait? Strike while the iron is hot! Show them!

[Anonymous]

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@Anonymous wrote:

The same thing just happen to me, they closed my Amazon store card for no reason, I have never been late on a payment. I always pay my bill right when it comes out and more than the minimum payment. I also have the Wal-Mart card and a gas card from synchrony bank. I don’t think I want to do business with these guys anymore; I’m closing all my cards with them at the end of the year. Stay away from this Synchrony bank guys, they have horrible customer service and they don’t care about their customers. I could understand if I was late on my payments and was in bad standing with them. My credit report is clean and they just gave me a credit increase on all three cards. I am very disapointined. Very bad bad, stay away from synchrony bank.

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Could it be because you requested a cli on three cards from them? How often do you request them? Wonder if this might have spooked them. ?

[Anonymous]

Maybe it’s because we are responsible and they aren’t getting interest from us! I never carry a balance.

[Anonymous]

They did the same thing to me. No notice given. The response I got from them when I called was every 6 months they do account reviews and if your credit score is not up to their standards Even if it was when you first got the card. They have the "right" to decrease your credit limit and eventually close your account. Most creditors do an account review but to offer you more credit or they just leave your current credit availability alone not these jerks they actually look at your credit report as if you are applying for the first time but it's a "soft hit" doesnt affect your credit score not sure I believe that either. Your payment history with them doesnt matter. They report your account as closed which hits your credit score negatively then they report monthly as your on time payments are still due if you are late its reported that way as If the account was still open. My credit score has dropped 100 points since these jerks closed my accounts still with balances.

[drboxing]

Synchrony did the same to me, it’s terrible

[Anonymous]

They did this to me too.  It's called economic terrorism.  

[Anonymous]

They have closed four of my accounts in the last three months: Walmart, Belk, Sam's Club Mastercard, and Amazon. I found out about it first from Experian. It is very suspicious behavior. Looks like someone is trying to meet a quota. On two cards, the autopay had been turned off, and I never turned them off.  Two of those did not even have balances as I usually pay them in full each month. I will never do business again with someone that has Synchrony Bank as their credit granting authority. Like you, it has made my credit score drop significantly.