Synchrony CLD to Closure

[jbsilva21]

No, I understand this being my fault and I accept that. The main thing keep my score down is the high untilization and I have 2 old collection accounts and 2 charge offs from 2011. I always make my payments on time and pay more than the minimum. When slowed down I used the cards a lot and have been working on paying them down. I think I am going to work on paying these off and let them close on their own. I only care about keeping the Amazon card and I have other cards that I can use in place of store cards. I think at the time my eyes were bigger than my stomach and I should have taken it a lot slower. Like I said hard lesson learned, and I need to focus on being out of debt vs having available credit. All I really need is 2-3 cards and no more than 15K-20K in credit. Thanks everyone for the information and support. 

[drboxing]

I had the same experience, Synchrony all of my cards except Walmart and Amazon Store Card, many had zero balance. The only card I have is Walmart and Amazon Store Card. That's fine though, don't need them. Will never have a card from them again.

[AverageJoesCredit]

I still have my Sync accounts but i try to keep their balances at zero. Buy something, pay it off this way any funny business im ready to bounce like Tiger

Op, i agree on the debt view, id much rather be debt free that credit rich

[jbsilva21]

Hit again and this time on my Amazon account. I am so done with Synchrony!

[Anonymous]

Sorry this is happening to you. I strongly suggest closing these accounts. 

[jbsilva21]

That is my main credit mission now. Pay off and be done. It is killing my utilization. Each time I make a payment they decrease the limit to $20-$30 above the current balance. Really ticks me off. And the messed up thing is my scores are higher now that they have been over the last 8-9 months!

[drboxing]

Luckily for me most of the accounts Synchrony closed had little to no balances, my large ones are Amazon card and Walmart. Once they're paid off I don't want another card from them.

[fltireguy]

That's exactly why Insaid to call in and close the accounts - that will keep your CL where it is, and will help your until as you pay things down. Otherwise if you don't close it, they will balance Chase. Close it and they wont . Been there done that

[Anonymous]

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@jbsilva21 wrote:

That is my main credit mission now. Pay off and be done. It is killing my utilization. Each time I make a payment they decrease the limit to $20-$30 above the current balance. Really ticks me off. And the messed up thing is my scores are higher now that they have been over the last 8-9 months!

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So what happened to your mea culpa?? You have shown poor credit behavior in the past. Charge offs... 

Then, they were apparently stupid enough to give another chance to prove you were now more reliable. Then, you maxed out the chance they gave you, and even had a late on a secured loan. Regardless of what you think, this is surely 100% your fault. They aren't sticking around because you aren't reliable. 

I can't believe the thinking that goes on around here at times. 

To end on an even more constructive note. FLTIREGUY gave you the advice you needed on page one of this topic. You should have taken it then, but hopefully you'll take it now.  Close the accounts and live to fight another day. And fwiw, synchrony bank has always been more than fair to me and treated me with respect. I find their credit practices to be quite well founded.

[jbsilva21]

Yes, my fault. Just frustraded. I have made the mistakes and made some of them again. Its just when I think I am getting ahead I am not.