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Synchrony Help!

Regular Contributor

Synchrony Help!

I accidently forgot a payment on November 25th to Synchrony for my Sams Club card.  I have a $20,000 limit.  When I received the email stating that my payment was due, I noted that the minimum was quite high.  I logged in and realized I forgot my November payment.  The credit line has dropped to $5600. Is this temporary?   If I call and explain about my oversight, does anyone think that my original credit line will be restored?  It will take a huge hit on my utilization.  Is Synchrony reasonable?  Thanks!!

Message 1 of 24
23 REPLIES
Community Leader
Super Contributor

Re: Synchrony Help!

You can try but i doubt it. I would call and explain but worse case they balance chase , best case in a few months call in to CS and request another cli. They have been known to increase a card again. UncleB is a classic case of that.
Message 2 of 24
Community Leader
Senior Contributor

Re: Synchrony Help!

OP for what it's worth, my wife was recently late on her Ebates Mastercard.  A couple of months ago she went out for lunch and forgot her wallet back at the office.  She keeps the Ebates stashed in her car for situations of such.  Since she hardly ever uses said card unless it's an emergency, she forgot to log in and make the payment (completely ignoring the fact that I always advocate for setting up minumum payment via auto pay to avoid situations of such but that's another topic for a different thread).  Nonetheless she was late.  Past due on a little over 6 bucks. 

 

Not only did Synchrony leave her $15k limit in tact, they actually reversed the late payment fee.  She's had the account for a couple of years with very little activity.  I was actually shocked myself.  With that being said...call and ask.  The worst that can happen is they say no.

 

Good luck to you!

Message 3 of 24
Regular Contributor

Re: Synchrony Help!

In my opinion, your limit dropping probably does not have to do with the late payment, it might be a perfect storm where something negative posted on your credit report at the same time. I encourage you to check your recent credit (if you haven’t already done so).
Normally in my experience 1st late payment, they are nice enough to remove the late fee and leave everything alone.

Now if you missed it by like 32-45 days and it already reported to you bureau ... the late fee and the credit limit is the least of the concerns.

Hope this helps.


Message 4 of 24
Contributor

Re: Synchrony Help!

Oh no! Give Chat a try. You never know. 😉
Message 5 of 24
Regular Contributor

Re: Synchrony Help!

I called and they removed the late fee of $27 - however, the CS rep could not restore my credit limit.  I paid 2 days after the billing cycle ended, so there is no 30 day mark on my credit.   I am very diligent about my credit monitoring and all three bureaus are above 740.  She cited that they did a credit review and felt that I had too much credit available across all my lines.  Oh well, I will keep trudging on.  Costco is closer anyway!  Smiley Happy  

 

Thanks for all of your input - it is greatly appreciated.  I love this forum!

Message 6 of 24
Regular Contributor

Re: Synchrony Help!

Synchrony can be skittish at times and very generous at others. They balance chased me on a couple of cards for a 30 day late that was 9 months earlier. However, I believe that they can be forgiving with some time and distance from whatever scared them. They slashed my Amazon account from $3500 to $840, which I don't even need that much on Amazon since I can use my Amex MR points to make purchases. 

Message 7 of 24
Established Contributor

Re: Synchrony Help!

Sorry to hear about the CLD OP.
So they CLD’d you due to too much available over all credit... I think that few days late is what triggered a manual review.
There’s plenty of fish out there so don’t worry too much about it. If they balance chase you then I would just go ahead and pay off and cut my ties with them. But that’s just me and my prideful opinion. Smiley Happy
BK7 dc in 01/2011 with FICO8 in the 500s




UTIL 1% - 3%
HPs EX 4 EQ 4 TU 2
AAoA 5y2m






$150K+ Total Limits
Message 8 of 24
Regular Contributor

Re: Synchrony Help!


@JR_TX wrote:
Sorry to hear about the CLD OP.
So they CLD’d you due to too much available over all credit... I think that few days late is what triggered a manual review.
There’s plenty of fish out there so don’t worry too much about it. If they balance chase you then I would just go ahead and pay off and cut my ties with them. But that’s just me and my prideful opinion. Smiley Happy

Agreed. I think once I stopped taking it so personally since it was because of a mistake I had made, I realized that other issuers liked me and so I put my money and time to those. I kept wondering how some folks on here had worse credit that I at time and were getting approved for "easy" cards with nice limits and I struggled to just get a secured card to unsecure. Synchrony is good for some and not for others....including me. Lol

Message 9 of 24
Valued Contributor

Re: Synchrony Help!

Even though the late fee was waived, look out for penalty APR being applied.

 

Time to setup autopay for all your cards, if not for the full statement balance (if you're a transactor) at least for the minimum (if you're carrying balance), you can still make manual payments or edit the autopay if you need to. If it happened here, it's just a matter of time it happens again if you're managing everything manually, life can be unpredictable.

Message 10 of 24