Synchrony Walgreens CLD

[JFoBoston]

Just got back from vacation and was paying bills only to notice Synchrony decided to CLD my Walgreens card.  $400 balance on a $2500 line.  

Called and inquired and was told to wait for letter. 

Not a good sign (for me anyway) of more to come.  

687 FICO 

[FinStar]

Yes, they're known to do this; however, they're not the only lender that takes AA in this fashion.

The [AA] CLD can be due for inactivity in a variety of cases or any changes in creditworthiness factors (internal or otherwise). Hopefully, the letter can provide some of the reasoning.

[Credit12Fico]

Hasn't this card only been out for a few months? That's fast. 

[FinStar]

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@Credit12Fico wrote:

Hasn't this card only been out for a few months? That's fast. 

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No.  It was launched a year ago.

Also, reports have surfaced on CLDs on the Verizon Visa which was launched in mid-2020. It has nothing to do with the CC program's introduction or newness, but more to do with portfolio performance, which essentially is how they manage all their PLCCs.

[Credit12Fico]

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@FinStar wrote:

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@Credit12Fico wrote:

Hasn't this card only been out for a few months? That's fast. 

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No.  It was launched a year ago.

Also, reports have surfaced on CLDs on the Verizon Visa which was launched in mid-2020. It has nothing to do with the CC program's introduction or newness, but more to do with portfolio performance, which essentially is how they manage all their PLCCs.

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My sentiment of "that's fast" is still appropriate. It never looks good to open new products, and then cut credit lines within a year when the  card holder has done nothing wrong. It's messy. Terrible look.

[FinStar]

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@Credit12Fico wrote:

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@FinStar wrote:

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@Credit12Fico wrote:

Hasn't this card only been out for a few months? That's fast. 

---

No.  It was launched a year ago.

Also, reports have surfaced on CLDs on the Verizon Visa which was launched in mid-2020. It has nothing to do with the CC program's introduction or newness, but more to do with portfolio performance, which essentially is how they manage all their PLCCs.

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My sentiment of "that's fast" is still appropriate. It never looks good to open new products, and then cut credit lines within a year when the  card holder has done nothing wrong. It's messy. Terrible look.

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It may be appropriate for your view or opinion, but plenty of financial institutions who introduce new products also have contingency plans on any AA as necessary. 

It's not unique to SYNCB. Plenty other institutions (if you read around) have been known to CLD, restrict or shutdown accounts, especially on newly introduced products. X1 comes to mind as an example and plenty others make the list.

By the same token, you aren't privy as to why the action took place and the OP hasn't elaborated much on their situation nor received any correspondence outlining the reasons. Also, we are not familiar with the OPs overall credit profile to determine why it happened. Lenders and their actions do not operate in a vacuum.

[Credit12Fico]

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@FinStar wrote:

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@Credit12Fico wrote:

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@FinStar wrote:

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@Credit12Fico wrote:

Hasn't this card only been out for a few months? That's fast. 

---

No.  It was launched a year ago.

Also, reports have surfaced on CLDs on the Verizon Visa which was launched in mid-2020. It has nothing to do with the CC program's introduction or newness, but more to do with portfolio performance, which essentially is how they manage all their PLCCs.

---

My sentiment of "that's fast" is still appropriate. It never looks good to open new products, and then cut credit lines within a year when the  card holder has done nothing wrong. It's messy. Terrible look.

---

It may be appropriate for your view or opinion, but plenty of financial institutions who introduce new products also have contingency plans on any AA as necessary. 

It's not unique to SYNCB. Plenty other institutions (if you read around) have been known to CLD, restrict or shutdown accounts, especially on newly introduced products. X1 comes to mind as an example and plenty others make the list.

By the same token, you aren't privy as to why the action took place and the OP hasn't elaborated much on their situation nor received any correspondence outlining the reasons. Also, we are not familiar with the OPs overall credit profile to determine why it happened. Lenders and their actions do not operate in a vacuum.

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Yes I can see now I did not read the OP carefully. OP has 687 Fico score (on some bureau) and was carrying a $400 balance and unknown income. It may not be Sync pulling back on the new portfolio but rather an account specific AA. As you say, there's not a lot to go on. This isn't neccesarily Sync being Sync as I'd like to assume but you know it's so easy to assume Sync is the worst after their portfolio massacre during the pandemic

[JFoBoston]

ok, since my worthiness has now come into question... HH income is 250k - I have two other Synchrony accounts - a 12k line with Care Credit - zero balance, and a 5k line with guitar center.  I have gone through this previously with Synchrony... It's fine - I just wanted to provide some info for others who might be in the same boat.

Recently approved for Amex Platinum, and Delta Reserve along with several other low balance trade lines I use regularly.  This is absolutely Synchrony being Synchrony. Seeing others post similar trends with CLD's... so I thought I'd chime in.

[JFoBoston]

And... that 687 is AFTER the 14 point drop this month.  Nothing derogatory... no lates in 6+ years.  

[AndySoCal]

My guess would be the CLD might have been triggered by the number of new accounts you have recently opened.  The other 2 acounts not affected due to the zero balance.  All that said Synchrony is Synchrony what they do at times is a complete mystery.