@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes. 
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs? 
@SoCalGardener wrote:
@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes.
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs?
I'll take one of those eggs 😂 ...specifically, the JCPenney MC. That's like a SYNCB 'unicorn' along with the CareCredit MC, for example. Only a limited number of upgrades were given several years ago, which is why you don't see any more JCP MC upgrades at all. I've had mine since they were their own bank (way before Monogram Bank and GEMB/GECRB). Maybe one day 🔮
@FinStar wrote:
@SoCalGardener wrote:
@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes.
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs?
I'll take one of those eggs 😂 ...specifically, the JCPenney MC. That's like a SYNCB 'unicorn' along with the CareCredit MC, for example. Only a limited number of upgrades were given several years ago, which is why you don't see any more JCP MC upgrades at all. I've had mine since they were their own bank (way before Monogram Bank and GEMB/GECRB). Maybe one day 🔮
HA HA HA HA!!! You want to take 5 figures of my TCL away?!
I know! Let's leave that up to Synchrony. I'm sure they're coming after me any day now........based on what I read here.
@SoCalGardener wrote:
@FinStar wrote:
@SoCalGardener wrote:
@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes.
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs?
I'll take one of those eggs 😂 ...specifically, the JCPenney MC. That's like a SYNCB 'unicorn' along with the CareCredit MC, for example. Only a limited number of upgrades were given several years ago, which is why you don't see any more JCP MC upgrades at all. I've had mine since they were their own bank (way before Monogram Bank and GEMB/GECRB). Maybe one day 🔮
HA HA HA HA!!! You want to take 5 figures of my TCL away?!
I know! Let's leave that up to Synchrony. I'm sure they're coming after me any day now........based on what I read here.
I would say, you're safe. Although, any of us can get the hammer at any point in time, you're not exhibiting (from what you've shared before) any risky [credit] behaviors where they might consider the axe. You're not requesting frequent (or any) CLIs, not going on application sprees, your utilization/debt is under control, scores are acceptable, etc. Oh, and you're not a physician over the age of 55 (retired or otherwise) 👍
@FinStar wrote:
@SoCalGardener wrote:HA HA HA HA!!! You want to take 5 figures of my TCL away?!
I know! Let's leave that up to Synchrony. I'm sure they're coming after me any day now........based on what I read here.
I would say, you're safe. Although, any of us can get the hammer at any point in time, you're not exhibiting (from what you've shared before) any risky [credit] behaviors where they might consider the axe. You're not requesting frequent (or any) CLIs, not going on application sprees, your utilization/debt is under control, scores are acceptable, etc. Oh, and you're not a physician over the age of 55 (retired or otherwise) 👍
I was GOING to be a physician, spent five years as a pre-med student (hey, you try working and raising a child and running a household AND being a straight-A student in pre-med!), then a one-in-a-million opportunity fell into my lap, and I changed gears. But I am over 55 and retired!
You're right, I'm not doing ANY of the things we read about that accompany *some* of the mass-closures, but let's not lose sight of the fact that Sync apparently shuts down perfectly good accounts, boom!, across the board, for no apparent reason, too. Three of mine are sitting on zero balances, rarely get used, two of those have 5-figure limits (only Chevron is lower, as I'd expect for a gas card); only the Amazon card gets regular use--and a LOT at that. Is that enough to sustain FOUR accounts? I don't know!
@FinStar wrote:
@SoCalGardener wrote:
@FinStar wrote:
@SoCalGardener wrote:
@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes.
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs?
I'll take one of those eggs 😂 ...specifically, the JCPenney MC. That's like a SYNCB 'unicorn' along with the CareCredit MC, for example. Only a limited number of upgrades were given several years ago, which is why you don't see any more JCP MC upgrades at all. I've had mine since they were their own bank (way before Monogram Bank and GEMB/GECRB). Maybe one day 🔮
HA HA HA HA!!! You want to take 5 figures of my TCL away?!
I know! Let's leave that up to Synchrony. I'm sure they're coming after me any day now........based on what I read here.
I would say, you're safe. Although, any of us can get the hammer at any point in time, you're not exhibiting (from what you've shared before) any risky [credit] behaviors where they might consider the axe. You're not requesting frequent (or any) CLIs, not going on application sprees, your utilization/debt is under control, scores are acceptable, etc. Oh, and you're not a physician over the age of 55 (retired or otherwise) 👍
Steve Harvey says "Name something phycian over 55 would experience"
@FinStar wrote: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
Not an MD, but in Health Care. I am slightly over 55, so I would like to hear the odd theories.
Last time was 5+ years ago, I had 4 maybe 5 cards (versus the 12 I had). CL back then was paltry, maybe 5K total, and my Lowes was 3K. Regardless, I knew last time it was coming. All my CL got cut one day by about 1/2, then as I paid down my Lowes the very next month or so my CL would go down in amounts of $300. Anyway, 7-8 months later they were all closed. I don't recall the exact letters, but one was about non usage and another was about they pulled my report and decided to close.
My care credit had 2-3 big purchases with like 3 year SAC promotion. 2 years into, I added 2-3 smaller purchases on promotions as well. SYNC chose to apply my payments to the newer purchases and one day I got hit with a massive accrued interest charge to the tune of close to $$$$. I pay MUCH closer attention to promotions these days.
My min payment on 6300 is $208, I pay well more than that every time. I actually never pay min payments, the lowest I have ever done is Min + last months interest charge.
@dondk wrote: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.
So sorry for the closure...Tnx for giving the pointer for future/current Symphony cardholders...Physcian here but not over 55 though..
...but then have only one and very recent card from Symphony...
@FinStar wrote:
@SoCalGardener wrote:
@FinStar wrote:
@SoCalGardener wrote:
@xenon3030 wrote:Always place your eggs in a safe basket.
That's easier said than done--sometimes.
Example: I had NO IDEA that my Amazon Prime Store Card was issued by a horrible bank. I'd heard of Synchrony, but I'd heard ZERO bad experiences with them and never suspected that they could pull the kind of crap we see here. I wanted and still want that Amazon card. So what am I to do? I can't put my eggs in a different basket!
Ditto for the three other Sync cards I have--all of which got transferred there from a different creditor. I didn't CHOOSE Synchrony for any of them, but that's where they are now. So where should I put my eggs?
I'll take one of those eggs 😂 ...specifically, the JCPenney MC. That's like a SYNCB 'unicorn' along with the CareCredit MC, for example. Only a limited number of upgrades were given several years ago, which is why you don't see any more JCP MC upgrades at all. I've had mine since they were their own bank (way before Monogram Bank and GEMB/GECRB). Maybe one day 🔮
HA HA HA HA!!! You want to take 5 figures of my TCL away?!
I know! Let's leave that up to Synchrony. I'm sure they're coming after me any day now........based on what I read here.
I would say, you're safe. Although, any of us can get the hammer at any point in time, you're not exhibiting (from what you've shared before) any risky [credit] behaviors where they might consider the axe. You're not requesting frequent (or any) CLIs, not going on application sprees, your utilization/debt is under control, scores are acceptable, etc. Oh, and you're not a physician over the age of 55 (retired or otherwise) 👍
My scores are in the 700-715 range, I am still working on them. Had a major health issue 4 years ago that I had to dig out of.
I did ask SYNC for CLI's eary this year, but nothing recent. No app spree's other than the 1 or 2 in the last year. Again, I'd typically do an app only for the promotional financing, pay it off well before the period and bury the card in the sock drawer. My util was under 20% and my DTI is under 30%.
SYNC had their reasons, I plan on framing the letters this time, and when I think about pressing that SYNC apply button, I'm going to look at the letters and close the browser 