Synchrony Strikes Again!

[thundr101]

Well, I triggered the Synchrony AA monster. Went to use my Synchrony Premier Mastercard today to get gas - card declined.

Thought maybe I missed a payment or something, so check the app and sure enough every account closed.

$75,000+ in limits gone 💨 overnight

No recent credit changes or inquiries. I carried a $500 balance on the Verizon Visa card I had.

I did call Credit Solutions on 2/9 and asked if my eBay Mastercard transfer to another card product (because I already had the Synchrony Premier Mastercard). Rep confirmed my eBay card would close due to the existing Premier MC - but didn't mention any issues with my other accounts.

Not sure if this is what triggered the mass closure, but I just wanted to share.

Sync did this to me a few years years ago, and I got lucky and was able jump back on the train for years with no problems, but I flew too close to the sun (again) and I think I have had enough of the Synchrony game.

[ElvisCaprice]

yes, I avoid them like the plague.  There are always alternative issuers that reward the same or better.  Their SUB's are sub par.  I have no reason, whatsoever, to go there.  

[Lou-natic]

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@ElvisCaprice wrote:

Just no reason, whatsoever, to go there.  

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Maybe for you... but Synchrony works just fine for me. However I don't go get as many of their cards as possible even though there are a couple more I wouldn't mind having such as the Lowe's and Harbor Freight cards. Of course I also don't want to end up like OP either. I kind of want to replace my "generic" Car Care card with the Summit Racing version but not sure how they would handle that.

The big thing about Synchrony is don't go out and grab like 5+ cards and then spam the LUV button until you get the maximum limits and then cry about it on the forums when they close you down. People know better but do it anyway, go figure. 

[Ushio]

The ridiculous frequency with which this happens almost makes me glad that I cannot get a card from Synchrony.

Though it would definitely be nice to be able to pay my Verizon bill with a credit card. I hate giving them bank access. Verizon needs to find a better bank.

[BallBounces]

A tale as old as time ...

[firefox100]

Could you give some more data points such as income and how many other cards you have outside of Synchrony bank. I have 3 accounts with a total of 70K of limits for over 15 years never had a problem with them. I do have a high intrest saving account with them. You say nothing has change in your credit reports, are you shore, they use computers and ai programs and they are checking every month to see what is going on. Synchrony is looking at more then your 3 credit reports there is some other data out their. Sorry for what happen.

[user365735]

I had this happen a few weeks ago...ive closed my Amazon account already and I can't wait to close my 2%card.. lol I'm jumping with joy. I'm just waiting closer to statement closing date.  There are other cards out there😁 . They cut my lines almost 80%. So bye bye 🤗

[Drifter73]

Same for me last month. No closures, but they CLDed 2 out of 4 cards i have with them spiking them at 96% Utilization each when they did it, so I PIF and tossed them in the sock drawer.

I think i triggered mine with a CLI request on one of them and the other had a balance for too long I think. Guess they won't be making the interest from me on those 2 cards anymore now that i paid them off and took them out of my wallet(s).

Not a big deal, I have plenty of cards and different lenders to juggle.

Just chalking it up as part of playing the 20+ card game...

[crystal626]

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@Ushio wrote:

The ridiculous frequency with which this happens almost makes me glad that I cannot get a card from Synchrony.

Though it would definitely be nice to be able to pay my Verizon bill with a credit card. I hate giving them bank access. Verizon needs to find a better bank.

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It's only a ridiculous frequency because people on this forum and on Reddit have very different behaviors. If you get a Sync card or two and don't request CLIs (they are pretty good about giving you autos when you use them anyway) or open a bunch of them, you won't have a problem. 

The Verizon VISA is one of my favorite cards. I'm going to miss it when I leave Verizon in a few months.

[ElvisCaprice]

Like I said, there are better options than sync., even for the Verizon CC to pay Verizon via CC via Verizon Gift Cards.  We've discussed it many times here on the forum.