Synchrony account closure

[RSX]

^^ in my original post which has been closed, i did note that i am not upset by it, and that it had no impact on my credit scores

the above was for Data Points only

i did actually use all of them with the exception of the Discount Tire card - it was only used for gas, as i bought a new car and havent needed tires for 2 years

lowes was used regularly - but not super heavy

care credit was used for all dental and for vet work for 2 dogs

paypal credit used for 6 month deals

i do know they didnt make money off me - i am not complaining about the closures - i was just very surprised by them at the time

i have since made up the difference in Total CL with other cards - even though i closed 4 others back in Aug/Sept 2019

#streamlinednow

[Anonymous]

I just had the same issue with them reducing all my cards down to just the current balance. This killed my CS as now I'm up to 98% on all cards even when it was originally only 5%. When I tried to call customer service I can get through to the payment department but the actual customer service rang non stop for 30 minutes. What is going on with Synchrony? 😡😡

[RSX]

^^ sorry to hear that man

when they brought the hammer to me, i had one acct with a balance and 3 without - and they closed them outright

so = you have a chance that this is a one time CLD - i sure hope so

start paying one down and see if they drop the CL again - if they do, then they are balance chasing with the end goal of closure

you really dont have too many options - if you can get ahold of them great, but i dont know about their Recon policy right now

[kdm31091]

Even in non-COVID times I don't think Synchrony recons any decisions, but I'm not sure if that includes AA decisions.

[Anonymous]

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@Anonymous wrote:

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I just discovered that synchrony bank closed all 10 of my accounts. That was about 67.5k in CL. Four of the accounts had a balance <10% while the others all had a 0 balance. Never a late payment on any of my accounts with them so closing all of them at once like this hurts! How will this affect my score though once it's all reported "closed by credit grantor"? 

I am upset but at the same time not upset... one thing for sure though is that I will not be doing business with Synchrony for a long time! Credit score is currently hovering in the 660-670 with an annual income of 125-130k.

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I just had 71000 dollars in accounts closed.  They were all paid in full every month and at the time of closure, I had 6000 on a reeds card and 6000 on PayPal for expenses related to my wedding. Other than that, they were all zero balance, always paid in full every month and never late.  I've called ten times and emailed and no one will respond. Of course it and we have no recourse but you can take them to small claims court and for each infraction they can pay anywhere from 2,500 to 10,000.  I had about 9 cards so maybe 90000 might ease the pain of my credit score dropping 140 points as a result. It's profiling at the worst because they are scared the economy will drop and they will be left holding the buck.  But I'm sorry, you shouldn't raise my credit limit every month and then when I'm the perfect example of a good customers, sabotage myself and my credit score.  I say **bleep** synchrony bank and my lawyer is already writing them a letter.  

[Anonymous]

Maybe there is a class action lawsuit waiting to happen.   I just happen to be a paralegal and know a lot of attorneys in Columbia SC that would love to get their hands on this.  Every account I had received a letter stating that because I actually used the cards, that I was at possible risk for failure to pay.  So, even though I've never been late and not paid, I'm all of a sudden a risk.  That is crap.   How about let me be late one time and then talk to me.  You would think they would want people to max out so they can just make minimum payments and keep earning those almighty dollars.  What a classy business.  They must be so proud. 

[RehabbingANDBlabbing]

I closed my Marvel Mastercard the other day. After 6 months of paying in full and on time. they still wouldn't increase my credit limit. On top of that, they were miscategorizing some of my transactions, so I wasn't getting my full 3% rewards like I was supposed to. I still have 2 other Synchrony cards I am keeping (B&H just for the sale tax discount) and my Synchrony Home card due to the $25k credit line and because it has been open for nearly 5 years. It may get closed, but I thin cutting as many ties with Synchrony as pssobile is in my best interest long term.

[Anonymous]

@Anonymous Welcome. Please keep us posted CP😉

[Jnbmom]

You do realize creditors can close your accounts for any reason they deem fit ( true or not it seems) Just give you that blanket reason .

I mean synchrony shut down a few accounts of our accounts , but you move on .

[Remedios]

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@Jnbmom wrote:

You do realize creditors can close your accounts for any reason they deem fit ( true or not it seems) Just give you that blanket reason .

I mean synchrony shut down a few accounts of our accounts , but you move on .

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Or suing lender because you got approved and your score went down when card reported. 

No difference really