Synchrony Bank and Famous Blue Envelope

[FinStar]

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@Anonymous wrote:

What are data points are they using to look for income inconsistencies?  Is it the amount you declare vs your spending habits or reported income inconsistencies when you opened different Sync accounts or asked for CLIs?

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Their analytics software gathers a lot of data from multiple sources (internal and external). So, an algorithm of some sort discovered something that was amiss. It's usually upon a manual review where this comes into play.  Unfortunately, we are not privy to what SYNCB discovered so we'll never know. FWIW, these are not just randomly generated requests.

[Remedios]

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@Anonymous wrote:

Nope.   No "more to the story".     One thing I have noticed on the forums is someone always thinks there is a conspiracy or someone not being truthful.

I never had an issue with any of my accounts.   Never once asked for a credit line increase.   They would do this from time to time on their own.   It can't be coincidental that I charge $1800 and pay it off 2 weeks later,  next day after payment,  all 4 accounts frozen.

Like I said, I don't need their accounts. I have an 825 Credit score, own my home,  and have other "real credit cards" with zero balances.

If these were new accounts, I would understand.  10+ year accounts and nothing different.   And I have no new credit accounts anywhere.  I have all the credit I need and don't do inquiries or asking for any credit line increases.   

So,  apparently something triggered this,  but it was nothing on my part other than paying a balance off before 30 days.

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Sorry this happened to you 

You'd be correct about someone always thinking there is more to any story because that's universal truth.

When someone said "there is more to this story" it doesn't mean you're lying, it just means we aren't privy to the data Synchrony or any other lender is using when deciding on AA. 

So, you posted in a public forum, you will get variety of responses. Such is a life when/where everyone gets to express their opinion as long as TOS isn't treated like a pony. 

[shalimarcat]

  This is terrible. I wonder what it was that triggered their systems. You have a point about the recent charge, but I wonder if it could be something else.  Makes me glad I don't have any accounts with Synchrony. Hope your complaint gets resolved soon.

[Anonymous]

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@shalimarcat wrote:

  This is terrible. I wonder what it was that triggered their systems. You have a point about the recent charge, but I wonder if it could be something else.  Makes me glad I don't have any accounts with Synchrony. Hope your complaint gets resolved soon.

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As @FinStar says, it certainly isn't just paying off the $1,800 early.  A number of us sometimes charge much larger amounts and pay it off without any interest charge, and nothing bad happens.   It's unlikely an issuer wants to give up on a 10 year relationship to avoid paying out $90.

Per @Remedios , something else is happening, and it may be nothing a) that is obviously wrong and b) that OP is deliberately hiding.   Just deep in the Sync algorithms, some unacceptable risk has been detected.   It might be a mistake, or something that none of us really think of as a risk, but Sync has decided it is.

[Anonymous]

I could care less about closing the 4 accounts.  I did this voluntarily.   It was funny because their service rep was trying to talk me out of closing them.   Its just irony that I have very low balances,  and they pull this.    These are 10+ year old accounts.

At the end of the day,   they will keep losing customers and gaining new ones.  They don't care.    Sadly they bank on people struggling and can't pay off the balances in time,  or before the "no interest runs out".    They profit on peoples struggles.   Point blank.    I looked at the interest rate on the amazon card,  25.99 Percent.  I believe the paypal ones are 21.99%,   and I think the lowes one is 26.99%.

Please,  readers,  Take this information in.  Don't get caught in their trap.   I am very fortunate to have a great career and NavyFederal Credit union to do all my real banking. 

They owe me $90.00 in cash back.  I'll do enough to be a thorn in their side.  Maybe I'll get it,  Maybe I won't.   

UPDATE 11/24/21:

Synchrony contacted me asking me to reconsider closing all of my accounts. I said, no, They are to remain closed. Got off the phone. Meanwhile, I already filed complaint with CFPB. Today I get a call from Synchrony again in response to me CFPB complaint. She gave me her contact info, profusely apologized and said she would contact the Fraud department to see why they sent me letter after having accounts for so many years in excellent standing. She could not see any reason for it. She said it may take 10 days, but she will get back to me. I told her I am not looking to reopen any accounts, its done, over. I already paid the two balances I had and I am done. All I want is my $90.00 in 5% back cash that I righfully earned. She said she would work on that and get back to me.

[Anonymous]

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@Anonymous wrote:

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@shalimarcat wrote:

  This is terrible. I wonder what it was that triggered their systems. You have a point about the recent charge, but I wonder if it could be something else.  Makes me glad I don't have any accounts with Synchrony. Hope your complaint gets resolved soon.

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As @FinStar says, it certainly isn't just paying off the $1,800 early.  A number of us sometimes charge much larger amounts and pay it off without any interest charge, and nothing bad happens.   It's unlikely an issuer wants to give up on a 10 year relationship to avoid paying out $90.

Per @Remedios , something else is happening, and it may be nothing a) that is obviously wrong and b) that OP is deliberately hiding.   Just deep in the Sync algorithms, some unacceptable risk has been detected.   It might be a mistake, or something that none of us really think of as a risk, but Sync has decided it is.

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LOL..... OP is deliberately hiding.   Now this is hilarious.  I am sorry to even have joined and shared my experience.   Won't be replying any more.    As if I have something to gain or hide. I don't know you people and can care less if you believe it or not.    See ya!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@shalimarcat wrote:

  This is terrible. I wonder what it was that triggered their systems. You have a point about the recent charge, but I wonder if it could be something else.  Makes me glad I don't have any accounts with Synchrony. Hope your complaint gets resolved soon.

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As @FinStar says, it certainly isn't just paying off the $1,800 early.  A number of us sometimes charge much larger amounts and pay it off without any interest charge, and nothing bad happens.   It's unlikely an issuer wants to give up on a 10 year relationship to avoid paying out $90.

Per @Remedios , something else is happening, and it may be nothing a) that is obviously wrong and b) that OP is deliberately hiding.   Just deep in the Sync algorithms, some unacceptable risk has been detected.   It might be a mistake, or something that none of us really think of as a risk, but Sync has decided it is.

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LOL..... OP is deliberately hiding.   Now this is hilarious.  I am sorry to even have joined and shared my experience.   Won't be replying any more.    As if I have something to gain or hide. I don't know you people and can care less if you believe it or not.    See ya!

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Reread:  NOTHING that OP is deliberately hiding ("Nothing" distributes across a and b)   So I was saying that you had done nothing wrong and you weren't hiding anything, just that you couldn't know what Sync doesn't like.   Which sucks, but....

[CreditInspired]

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@Anonymous wrote:

I have a credit score of 825.    I have had 4 accounts with Synchrony for over 10 years.  Never one late payment.

Lowes:  $7000 Limit - $0 Balance

Amazon:  $7000 Limit - $0 Balance

Paypal Credit $10000 Limit - $1600 Balance

Paypal Mastercard $10000 Limit - Also $1600 Balance.

Never had an issue. Until Recently.    I charged $1800 on my Amazon credit card for Christmas gifts.   I paid it in full 2 weeks later.   I should of earned $90.00 cash to use on my amazon account.    The day after I paid it off in full.   All 4 of my accounts were frozen.

I called them.  Wouldn't tell me anything but to wait for paperwork and send it all back to them.    I received the paperwork.  Blue Envelope like everyone has reported.    No Way am I sending them anything to receive my tax returns, which has my underage kids info and social security numbers, my wife's info, etc.    

They refused to give me my $90.00 in amazon cash back on the $1800 I purchased until I send them what they want.  I told them to kiss my you know what.

I closed all 4 accounts.  I will pay of the two paypal credit account in the next two weeks, but all 4 accounts are closed.   I will never do business with them again.   And In all honesty,   they are complete criminals.   21-28% interest is robbery.   

I guess I pissed them off because I take advantage of getting points and paying it off before they can interest charge me.   I am sure my paying off the account before a statement was generated was what triggered it.

Totally absurd and criminal behavior.    I doubt there is anything I can do to get my $90 cash back,  but I am warning others.

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And I'll tell you exactly what I would do. Return every single one of those Xmas gifts and force them to credit the closed Amazon account, which would force them to refund my $1,800. 

Put that spend on another CC. Bam!

[collics]

i hate synchrony.