Synchrony bank closing accounts due to high risk of non payment?

[911gt34life]

I could be next honestly since I am over 50% 

[oldman425]

I found out they closed my Lowes card due to inactivity.

[Imreelxd1]

Same thing is happening to me. Had a Lowes, Care Credit, Harbor Freight, Dobbs and all started reducing my credit lines after every $100 or so of payments. The letter has no reason stated, it's blank. Each time, my credit took a hit due to utilization percentage. Always paid on time via auto deduction, always pay more than minimum, and pay off balances before making new purchases. I'm done with them. My husband is having the same thing happen. Randomly closing his accounts while they still have a promotional balance! Terrible. Luckily our Walmart card was Capital 1 and Walmart just went back to Synchony, but Cap 1 turned our card into a Quicksilver. Much better than Synchrony who would have closed it. How do they stay in business?!?!

[Cr3dit123]

Happened to me as well. No notice. No reason. No late payments. Nothing. I will never get another card with them again. 

[GreatLife]

Can't decipher if this sheds any light on Sync closure elements because it's over my head. Sharing with forum :

https://investors.synchrony.com/filings-regulatory/sec-filings/all-sec-filings/content/0001601712-24...

[visionsdivine]

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@GreatLife wrote:

Can't decipher if this sheds any light on Sync closure elements because it's over my head. Sharing with forum :

https://investors.synchrony.com/filings-regulatory/sec-filings/all-sec-filings/content/0001601712-24...

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If you read the "Risk Factors Summary," they blame a lot of the future of their company on fluctuations in the consumer spending aspect of the economy, which makes sense given their emphasis on retail consumer lending.

The part that says "Cyber-attacks or other security breaches could have a material adverse effect on our business" made me laugh. 

Yeah, if they were really prioritizing preventing security breaches, they would update their security to allow for two-factor authentication. Seriously, just about every other bank out there uses 2FA these days, but Synchrony still hasn't.