Synchrony CLD to Closure

[jbsilva21]

Hi everyone, I just wanted to see if anyone else has had this problem before. I have had a lot of CLDs on my Synchrony cards. They CLD TJ Maxx and Lowes until finally closing them. I have Sams CLD from $500 to $200 and just today Walmart $1200 to $1020. Each time I make a payment on these cards the CLD close to the limit. My score has been roller coastering a little but how can I keep it on the uptick if they keep "maxing" out my utilization? After Walmart and Sams I have Amazon and PayPal smart connect. Any advice?

[Gmood1]

Before the CLDs, did you have anything negative show up on your reports or show high utilization on other accounts? Sorry to hear about the CLDs. Synchrony is a strange beast at times.

Forgot to asked, are you showing a trend of carrying balances month to month across these and other accounts? Meaning are you making more than the minimum payments. All of these companies take a second look if you show the trend of posting minimum payments. 

[AverageJoesCredit]

They seem to be balance chasing you . If they already closed 2 of your cards, i would assume they will wait for you to pay down your others before closing them as well. Something has caused them to do this. Any baddies recently added to your account like lates or charge offs. By chance did you get all these cards in same time span, msybe like within a week or 2.

Sorry this is happening, main thing is to try and figure out what has caused this so you can avoid this in the future.

[jbsilva21]

Combination of everything. We have had high utilization but I always pay more than the minimum. I did have a 30 day late pop up on an Auto loan 6 months ago. Just very discouraging. I just had my citi secured graduate and then this.

[jbsilva21]

I got these cards a little over a year and a half ago. Never missed any payments. I have been working on the utilization for th last 4 months. Work was slow but I never paid late and always paid over the minimum.

[AverageJoesCredit]

Yeah, thats stinks when you are at least paying on time and not late. Did this start hspening when the 30 day late showed up or after? I think with all the high defaults lately, banks are trying to cut their risk sooner than later so it seems its becoming harder to carry a balance nowadays.

[jbsilva21]

Way after. That late was 6-8 months ago and they just now started doing it with the exception of the lowes and TJ Maxx. I didn't use those cards that much after I paid them off so I understand closing those. But I use the Walmart and Sams on a regular basis.

[fltireguy]

You need to call Sync and CLOSE THESE CARDS NOW then, they will now longer balance chase you, and your util. Won't suffer as much, as once a sync account is closed, it will still report the last CL before you closed it for util purposes

[Anonymous]

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@jbsilva21 wrote:
Way after. That late was 6-8 months ago and they just now started doing it with the exception of the lowes and TJ Maxx. I didn't use those cards that much after I paid them off so I understand closing those. But I use the Walmart and Sams on a regular basis.

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Sorry about the CLD & account closures.

Did you ask for a CLI on any of these accounts recently (after 30D late posted to CRAs)?

[AverageJoesCredit]

Good question Anusara. Perhaps it drew attention to accounts. Have you received any income verification letters ?