I know this topic had master threads and has been mentioned before. I am only writing that maybe someone in similar shoes can be made aware and prepare.
12 Synchrony accounts. 67K in credit lines. 6 accounts with zero balances, 5 accounts with less than $400 balance, 1 (care credit) with $6300 balance. Zero late payments on all of them (more than 4 years). Oldest account 6 years, newest 2 months, average account more than 4 years.
Personally, did me a favor. Wanted to close a few anyway, but afraid of AAoA hit. Not upset really, just a wake-up call not to have too many accounts with one provider.
Good to know I am in good company! They are on my NEVER again list.
A few of their cards I went for was only because of special financing. Other than care credit, I can honestly say I rarely paid any interest.
AAoA wont change for fico purposes as closed accounts remain on file for up to 10 yrs post close. vantage doesnt count closed accounts in their AAoA but few use them anyway.
Really? Dang that is the ONLY reason I am holding my 9-year-old crappy Credit One card. So I can close that piece of crap and not take a hit?
Ouchies. Sorry to hear about all the SYNCB closures @dondk. Never a pleasant experience.
Do you recall the reasons when your SYNCB accounts were closed the last time around? How long ago was it? How many accounts did you have at the time vs now (SYNCB-wise)? On the current $6,300 Care Credit balance, is that being paid by minimum payments?
By the way, I'm assuming you're not a physician (or in a health care profession) in an age group between 45 - 65? Cuz, you know...odd theories
@coldfusion wrote:
@RSX wrote:sorry to hear that - but that was the status of a lot of us that got the closures
1. pretty much 5+ accts with them
2. and over $50k in total lines
A number of data points provided additional information that show there are 2 other potential risk factors along with #1 and #2, at least in some cases:
3. minimal use of Synchrony credit lines relative to the limits extended
4. recent credit-seeking behavior
This is unfortunately not a new trend for Synchrony, in the past they have also been generous when seas are calm yet pucker up when it's time to batten down the hatches. If there are lessons to be learned here, 2 of them are that they really are a quirky lender and while they can make it easy to pad one's utilization figures you do so at your own risk.
Thank you for that insight. My utilization prior to my Synchrony massacre was 19.7%, afterwards it's sitting at 26.3%
@coldfusion wrote:A number of data points provided additional information that show there are 2 other potential risk factors along with #1 and #2, at least in some cases:
3. minimal use of Synchrony credit lines relative to the limits extended
4. recent credit-seeking behavior
This is unfortunately not a new trend for Synchrony, in the past they have also been generous when seas are calm yet pucker up when it's time to batten down the hatches. If there are lessons to be learned here, 2 of them are that they really are a quirky lender and while they can make it easy to pad one's utilization figures you do so at your own risk.
I'm totally guilty of #3! On multiple cards, no less. But I'm not going to charge thousands of dollars, per card, for things I don't need! So I guess if they're going to drop the proverbial shoe on me, they're going to do it. I'll post one of these threads when (if?) that happens. Ugh.
OP, I'm sorry this happened to you. It sucks, but you're handling it very well! 
