Synchrony Question?

[Anonymous]

hi all, just a general question. If I stop paying on some of my synchrony accounts but continue to pay on others, will they close them all regardless? Also if I have accounts with zero balance will they close them?

[Anonymous]

if you stop using a card for a while they can cancel it, so if you want to keep it you should use it every few months at least once.

[FireMedic1]

Why would you stop paying on some and not others. Did you get yourself in a pickle?

[FireMedic1]

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@Anonymous wrote:

if you stop using a card for a while they can cancel it, so if you want to keep it you should use it every few months at least once.

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They said stop paying not using. Ooops!

[Anonymous]

Synchrony is one of the quickest to take AA when something happens. If they don't close your accounts, they'll slash your limits to nothing. If you can avoid it, don't let any of them fall behind. Synchrony is one of the banks that isn't really known for giving goodwill deletions later and plenty of members have found themselves stuck with a Synchrony charge off long after they got the collection agency to agree to a pay for delete. 

[Anonymous]

I am one of those who found out years ago that Synch can get mean really quickly if you have payment issues. Definitely do not stop paying. Pay minimums if you have to but do not miss a payment or pay less than required. It’ll turn ugly very quickly.

[Anonymous]

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@FireMedic1 wrote:

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@Anonymous wrote:

if you stop using a card for a while they can cancel it, so if you want to keep it you should use it every few months at least once.

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They said stop paying not using. Ooops!

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lol oops. people ask the craziest things here. i didn't think he's deliberately planning to do a chargeoff. hopefully he can avoid it, that's a bad road to go down.

[CreditInspired]

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@Anonymous wrote:

hi all, just a general question. If I stop paying on some of my synchrony accounts but continue to pay on others, will they close them all regardless? Also if I have accounts with zero balance will they close them?

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The simple answer to your questions is yes. The worse thing you can do is stop making payments on your CCs. Also, if you miss just one payment, the astronomical penalty interest rate can and will go into effect. Also, please understand that once you stop making payments on one lender's card, other lenders can and will take AA on their cards too. They will note your behavior during a SP. 

I suggest making at least the minimum payment on all your cards. If this has become difficult, notify your CCCs and see if there are alternative payment arrangements you can make. 

I'm glad you asked before hand. So please don't destroy you credit or have CCs shut down because you stopped making payments. 

GL2U

[CreditInspired]

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@Anonymous wrote:

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@FireMedic1 wrote:

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@Anonymous wrote:

if you stop using a card for a while they can cancel it, so if you want to keep it you should use it every few months at least once.

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They said stop paying not using. Ooops!

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lol oops. people ask the craziest things here. i didn't think he's deliberately planning to do a chargeoff. hopefully he can avoid it, that's a bad road to go down.

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And that is why myFICO is here--to answer questions that people don't have answers to.  And myFICO's motto is (well my motto atleast)--no question is a crazy question. How else would one know the answer if he/she is afraid to ask the question? It's akin to the child who never raises his hand in class for fear other students will think his question silly. 

[Anonymous]

I appreciate that CreditInspired. I have gotten to the point where evening paying min. has become difficult. I was also taking bankruptcy but I know that comes with its own disadvantages. I have heard synchrony has a hardship program. Has anyone done it or have any info on it?