Synchrony Stash Visa Closing

[dabrahams]

Did anyone else receive this email?

As one of our Stash Hotel Rewards Visa Cardholders, we want to inform you that we are discontinuing this Visa® credit card program.

Your Stash Hotel Rewards Visa Card will be closed as of 12/11/2018. At that time, only the Stash Membership Terms will apply to your Stash Membership. Please be assured that any points earned on purchases (minus credits, returns, and adjustments) made with your card will be credited to your Stash Program account.*

There are no changes to the Stash Hotel Rewards Program, your membership in the program or your ability to redeem Stash Reward points. Your Stash points never expire.

[pizza1]

Yep just got the same email. I just went ahead and closed it, since I was gonna to close it anyways next year.  There went $12k, lol... good thing I keep my overall util low, like 1% as this will have no effect at all for me. 

Also, checked the Stash Hotels website, and it states they are no longer taking new applications. 

[dabrahams]

Since I am carrying a balance, how will that look on my credit report?  Will it still show me using xx% of my credit line?

[pizza1]

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@dabrahams wrote:

Since I am carrying a balance, how will that look on my credit report?  Will it still show me using xx% of my credit line?

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A closed revolving account is taken out of the overall CL equation. It will show closed in good standing with a balance.  I would focus on getting that balance paid asap, or see if you can BT is somewhere.  What is your CL and current balance on the card?

So when the card closes, your balance remains on the card factoring into your overall revolving util currently used, and taken out of overall credit limit. For example lets say your total revoloving lines come to 100k, and your current overall util is 20% (or 20k) across cards with balances. Lets say your stash cc has a 10k cl. Now, your total lines come to 90k with 20k overall util now making your combined revolving util reporting 22%. 

[CreditCuriosity]

No supririse.. Basically a card with not big enough market and sub-par rewards structures compared say to a 1.5-2% card.  a 1% card might even beat this card?  I do feel bad for those that are using it for a utilization buffer or whatever, but when you play with co-branded cards you always take this risk especially on the less known ones like this card.  Sorry for those that are impacted, but happens all the times on cards such as Toy r us that was certainly alot bigger due to BK, etc.

[Remedios]

Synchrony is not having a good year 

[Loquat]

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@Remedios wrote:

Synchrony is not having a good year 

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+1 My thoughts exactly.  I'm sure they'll find some other partner to co-brand with.  Sorry for those affected.  But I must stay, if they ditch the Lowe's card and no one else picked it up...it'd bring me to tears.  Here's to hoping that never happens. 

[Anonymous]

I have slowly been applying for big bank CCs while shutting down co-branded cards.  I cancelled a $25k Lowes card.  I still have Sportsman's Guide Visa and Total Rewards Visa.  Sam's Club MC and EBates Visa are the other two who could shut down due to a partnership change.

All 4 of those cards listed have horrible APRs, although they represent more than $50k of my credit lines.  Synchrony and Comenity are unstable at the moment.  Hopefully I can get ahead of the curve by seeking only big bank/CU CCs.

[dabrahams]

Currently around 10K and my CL is $25,000.

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@pizza1 wrote:

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@dabrahams wrote:

Since I am carrying a balance, how will that look on my credit report?  Will it still show me using xx% of my credit line?

---

A closed revolving account is taken out of the overall CL equation. It will show closed in good standing with a balance.  I would focus on getting that balance paid asap, or see if you can BT is somewhere.  What is your CL and current balance on the card?

So when the card closes, your balance remains on the card factoring into your overall revolving util currently used, and taken out of overall credit limit. For example lets say your total revoloving lines come to 100k, and your current overall util is 20% (or 20k) across cards with balances. Lets say your stash cc has a 10k cl. Now, your total lines come to 90k with 20k overall util now making your combined revolving util reporting 22%. 

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[woodyman100]

I have never been able to use my Stash Points.

Everytime I tried, there was 

not any rewards point rooms available. 

I gave up over a year ago.