Synchrony Bank closed two of my accounts in the past two years

[andremurcia]

I'm so pissed I wanted to buy 4090 on Newegg and after finally getting my account $2100 to be able to get my 4090 they close my account After starting with a $600 credit limit working on that account for two years going on three

lasy year they also closed care credit $10,000 limit 

today I saw blood 🩸 I had chevron visa with limit $1600 I closed that one

then close Premier Mastercard $3700

lowes $1800 

sam club lower it from $1300 too $380 I closed it

last month reopened care credit $6500 I close it

Jc penny next 

amazon I'll also close soon

car care will pay it next month 

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

thank god I already have $140,000 in other credit cards. 

I will never deal ever again with crappy bank I had about 30k in credit limits with them there loss 

[FlaDude]

You are taking this a lot more personally than they are. Synch is known for reducing CL and closing cards due to disuse. 

[Wu-Credit]

Synchrony wakes up every business day and chooses violence.

[Linnaea]

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@andremurcia wrote:

I'm so pissed I wanted to buy 4090 on Newegg and after finally getting my account $2100 to be able to get my 4090 they close my account After starting with a $600 credit limit working on that account for two years going on three

lasy year they also closed care credit $10,000 limit 

today I saw blood 🩸 I had chevron visa with limit $1600 I closed that one

then close Premier Mastercard $3700

lowes $1800 

sam club lower it from $1300 too $380 I closed it

last month reopened care credit $6500 I close it

Jc penny next 

amazon I'll also close soon

car care will pay it next month 

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

thank god I already have $140,000 in other credit cards. 

I will never deal ever again with crappy bank I had about 30k in credit limits with them there loss 

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I feel the accounts like Synchrony,  Comenity are a bit.... Looney.   I often wonder if it's them or who they represent.   For example I can't get my stupid Victoria's Secret from Comenity to increase over $200 credit.   Honestly, they initial told me I was approved for the Mastercard.   I accepted said it was a Mastercard... then the card comes and just store card.  I still going to put in complaint with CFPB.  Regardless the reason they won't give me a credit increase is  all over place... no experience with real estate....  and not enough balances.   Honestly, you can buy much with $200 at Victoria Secret.   Then they immediately post to CB what you owe.   I used it cause they were having a underwear sale.   Immediately post.   I owe $33 out of 200.  Ridiculous.   Yes I'm in rebuild.  My FIcos are between 660 and 680. I only have 1 baddie on my report. I settled and paid everyone.  I had VS before and never burnt them.   COMENITY offers me preapproval from other banks at higher SL.    They are just all silly.   I wouldn't worry.   Between the economy and the "Y" banks... which is perfect because "WHY?" perfectly sums them up.   I'll keep my Care Credit... but I'm going to close my VS or just shock drawer it.  Good luck and I'm sorry.  

PS what is a 4090? 

[Wu-Credit]

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@Linnaea wrote:

PS what is a 4090? 

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It's a graphic card for gaming PCs, costs $1799 msrp.

[keekers]

Sorry for this happening to you...also try and relax, it will be ok.

[xenon3030]

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@andremurcia wrote:

last month reopened care credit $6500 I close it

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I do suggest to consider multiple lenders, instead of putting all your eggs in one basket. By this way, you mitigage financial risks due to AA by any lender. Btw, you observed AAs in the past while you re-opened another card again with them. Sync is well-known to do AAs with or without reasons. So, re-opening the impacted cards with the same lender might not be the optimum solution.

It might be good to PIF all the Sync cards and keep them active, place a small charge per quarter, and try to find other CCs from other lenders, instead of closing them by yourself. Closing several cards immediately might cause also red flag for the other lenders. Closing one card per quarter might be a good option, if you want to proceed to closing them by yourself.

If you are re-builiding, it should be a bit hard to get qualified for CC. Try to apply for the cards that you feel confident approvals to avoid accumulating HPs.

[Anonymous]

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@andremurcia wrote:

my credit will take a hit but I will not let this treacherous behavior from this bank go on

this bank is deliberately trying to destroy my credit

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"tracherous" might be just a little teeny bit over the top.   And no, the bank has no deliberate intention to destroy your credit, a) you are not that important to them and b) what would be the motivation.    It's their (perhaps screwy) risk mitigation algorithms doing stuff automatically.   Yes, the impact to you is the same but it's not actually malicious.

[DoppelgangerD]

@andremurcia 

@Linnaea 

I'll just say this much...

The facts are that these banks are run by humans with flawed logic and likely all overpaid for their intellectual capabilities.

However, it's not personal.

A computer can't make a personal decision.

I see posts all the time where people say they won't do business with a certain bank because of whatever reason.

So are you opening these accounts to make THEM money or for YOU to take advantage of what they offer?

If you're getting something from them, why not keep doing it.

I know it's frustrating when you feel you're getting a raw deal, but just try to play the game smarter and not harder.

Keeping too many credit lines open without use is difficult.

Try to concentrate more on cards that are useful to you on a daily, weekly or monthly basis.

When a card's SL won't grow, that's frustrating, but if you can still use it, then just keep using it.

Most likely it will grow eventually when your credit file heals and grows more.

If not, then sock drawer is an option, but just make sure the sock drawer doesn't become overwhelming.

[CorpCrMgr1]

I would not be happy (definately an understatement) either. Your actions would be my first thought. Then I'd think back to my rebuilding time and how happy I was to get a $200 CL card. I'd keep the cards I had and put some spend on them. Good luck!