Synchrony Bank and 4506 t form

[st2]

So here are you guys I have received the blue paclage letter from Synchrony Bank asking me to submit my income verification form( 4506 t). This is a personal information and I won't share it with anyone. I have over 100k with them. I have 3 different accounts which is PayPal extra MasterCard, Amazon store card and Walmart Mastercard. So I'm thinking about closing my account by myself. If im going to close the accounts by myself is this going to put me on a blacklist with them or it'll be fine. Even if I want to open any accounts in the future do they request an income verification or I will still be on The Blacklist forever and I won't be able to get any of their cards from now on.

[Anonymous]

This has been happening with Synch since like July. Either you provide them with the info they need or close your accounts.

[st2]

i am about to close the accounts. but if i do this by myself. does this add me to the blacklist if i want to apply to any of their accounts in the future?

[Anonymous]

No. I haven't even heard of a Synch black list

[UncleB]

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@st2 wrote:
So here are you guys I have received the blue paclage letter from Synchrony Bank asking me to submit my income verification form( 4506 t). This is a personal information and I won't share it with anyone. I have over 100k with them. I have 3 different accounts which is PayPal extra MasterCard, Amazon store card and Walmart Mastercard. So I'm thinking about closing my account by myself. If im going to close the accounts by myself is this going to put me on a blacklist with them or it'll be fine. Even if I want to open any accounts in the future do they request an income verification or I will still be on The Blacklist forever and I won't be able to get any of their cards from now on.

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If you close the accounts it's believed that you should be able to open them again in the future, but so far I don't recall seeing a post where someone has tried to do so. 

The 'blue envelopes' have only been going out for a few months, so it might take a little longer before someone who gets one decides to give it a try.  Most people on here in that situation have said they are "done" with Synchrony after being shutdown for no cause.

If you decide to close the accounts yourself and later decide to reapply, please let us know how it goes! 

[Anonymous]

I read the post of at least one person who applied and was approved for a Synchrony product after they had closed their accounts. Unfortunately, I don't remember the thread or ID. Good luck OP! 

[fltireguy]

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@beautifulblaquepearl wrote:

I read the post of at least one person who applied and was approved for a Synchrony product after they had closed their accounts. Unfortunately, I don't remember the thread or ID. Good luck OP! 

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That was me. I opened another account (I did not have this card before the shutdown)... still open at this point.

I dont think that they blacklist!

[AverageJoesCredit]

Sorry Op about this. The worse part is if you close your accounts and then reopen in the near future whsts to prevent them from asking again. Id imagine they keep records. Im rooting for fltireguy. Id dont think i could trust apping again if i know they are going to do the blue envelope thing at any time. Couldnt trust that my accounts would be able to be used without being frozen. I know any bank can ask for income verification and im ok with that but the way Sync is doing it i dont agree. Best of luck.

[mattmyFIC0]

From what I can tell you can't reapply for the account you just closed until at least 12 months has gone by. You could try for different sync products though.

I bet you would get approved for other products but you are on their radar now so it might be smart to just lay low with them for a bit. I was still getting tons of preapprovals from comenity (they closed all my accounts last year) and even some from sync now that I closed all my accounts with them after they sent me the blue envelope.