Synchrony closed all accounts

[Remedios]

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@Anonymous wrote:

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@Remedios wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Most recent opened over a year ago. Income 250k+. Util 1% scores 750+ accross the board. Never doing business with them again.

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While it's unfortunate that this happend and that all accounts were closed, especially given your profile. What would you do if the other Banks did the same thing? I mean this isn't personal and those CL's weren't your property to be taken, plenty of truly valid reasons to never do busness with a comany again. IMO this isn't one. 

I'm not in favor of SYNCH here, as i do not have any TL's with them. I just see this come up a lot with people who feel they were burned by this type of action. And I do understand that it probably took a long time to build to $90K with them, but if you're only using 1% then what does it matter? You can build that up again. 

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And you'd feel that exact same way if it happened to you.

It's ultra easy to go "Oh, it's just business" when it happens to someone else. 

We all take it personally,  especially when there is no default, cards are being used, no financial distress. 

People calling to get credit lines restored on cards they dont use and have no plans on using, asking for CLIs on cards used for a pack of gum etc and we all find that normal.

Someone gets upset over cards being closed "oh calm down it's just business" 

It might be, but sometimes just business is a bad business. 

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I guess this was directed at me, or my comment. When I offered that "it is not personal; it is business" it is to put things in perspective. When Citi CLD me back in 2009 I was livid; to the point where it was making me sick. Once I calmed down, I realized that it really was not personal and that it was their choice. And that is about the time I stopped using my Dividend as my go-to card which was my choice.  

My comment was meant more to be a comfort more than anything; I apologize, OP, if you took it any other way. This is a good reminder as to why I took a year off from the forums....

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Umm, when one quotes a post, previously quoted posts are there, also. 

Yours just happened to be included. 

I'm not going to spend 25 min cleaning up posts on mobile. 

[Anonymous]

To me (and perhaps to no-one else!) "it's just business" is shorthand for "Don't make bad decisions based on hurt feelings".   Not so applicable when a card is closed, but we see people feeling insulted when a huge CL is cut to a smaller CL "for no reason".   Even if the CL doesn't get restored, providing it is still useful enough, feel annoyed, rant. post "worste ever issuer, stay away!!!!" etc, but don't close the card yourself!

[Remedios]

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@Anonymous wrote:

To me (and perhaps to no-one else!) "it's just business" is shorthand for "Don't make bad decisions based on hurt feelings".   Not so applicable when a card is closed, but we see people feeling insulted when a huge CL is cut to a smaller CL "for no reason".   Even if the CL doesn't get restored, providing it is still useful enough, feel annoyed, rant. post "worste ever issuer, stay away!!!!" etc, but don't close the card yourself!

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@Anonymous  if you ever decide you want a signature (narrative form, of course), I think I can help. 

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

To me (and perhaps to no-one else!) "it's just business" is shorthand for "Don't make bad decisions based on hurt feelings".   Not so applicable when a card is closed, but we see people feeling insulted when a huge CL is cut to a smaller CL "for no reason".   Even if the CL doesn't get restored, providing it is still useful enough, feel annoyed, rant. post "worste ever issuer, stay away!!!!" etc, but don't close the card yourself!

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@Anonymous  if you ever decide you want a signature (narrative form, of course), I think I can help. 

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I prefer the one I already use, 1 pixel malware.    All that fraud being reported on forum users cards, how can that possibly be happening!

[Anonymous]

Sync closed my $4k CL Amazon card as well as my TJX Rewards and Old Navy accounts recently and refuse to CLI on my Paypal & Marvel Cards despite my scores being in the 690's and PIF every month.

As much as I hate corporate takeovers I hope some bank swoops in and purchases everything they have left soon.

[Loquat]

Synchrony is Synchrony. I think the sting comes a lot more when closures happen because most of us who have Synchrony products, usually have very high limits on them and it does suck. Sure, its not personal, just business...but when it happens to you, it sure as heck feels VERY personal.

I have a few Synchrony cards myself. They don't cost anything which is why they live but the one that I'm going to take VERY PERSONAL if they close is my Lowe's card.

They can have the rest but if they take that card away I'm going to be just like everyone else who has gotten kicked out of the Synchrony sandbox.

We all know that it's not personal but as @Remedios said, it all feels personal you're on the receiving end of said closures...regardless of the lender.

[Anonymous]

Yes, well said and very true. I guess now that it is over I almost feel free. I read alot on the forums and have seen the closures alot and always kind of worried it would happen. I had a chance to close them and didn't.

[CreditJourney007]

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@Anonymous wrote:

Sync closed my $4k CL Amazon card as well as my TJX Rewards and Old Navy accounts recently and refuse to CLI on my Paypal & Marvel Cards despite my scores being in the 690's and PIF every month.

As much as I hate corporate takeovers I hope some bank swoops in and purchases everything they have left soon.

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Hmm. Interesting they only closed some.

I can't get a CLI for the life of me on Marvel. I just got approved for Verizon w/ also a 3% rewards on restauraunts so I might close Marvel next month. 

[Anonymous]

As bad as Synchrony has been to me, Comenity has been worse. Nothing but terrible experiences and customer service on every single card I used to have with them. I've pretty much blacklisted them with regards to what cards I'm looking at apping for in the future.

Synchrony isn't there yet, but I do plan on apping for at least the B&H Payboo Card in the coming months to purchase parts for a PC I want to build.

As for Closing Cards, I already have had 10 Cards closed in the last 2 years. The 3 Sync cards I mentioned before, 3 Comenity Cards, one was closed by them the other two by me, a Fingerhut account which was closed due to inactivity (like I would ever willingly shop there anyways), and another 3 which I closed that had AFs that I wanted to not pay anymore. Is this a bad habit I shouldn't be doing?

Another question I have is with the Amazon Sync card, when they closed it on me it had a balance still on it of $1500, which is now down to $1200 from me paying on it since then. If I wanted to re-app for this card down the road, would I need to pay down the remaining balance off in full beforehand? and would I need to call in and have it removed from my CR or will it do that automatically? and how long should I wait before I'm able to re-app for it again? This was one of the most used cards I had and would like to have it back at some point.

[CreditInspired]

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@Anonymous wrote:

Just applied for chase amazon. Instant approval 16,500. Should have gotten that card from the beginning.

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Well that alleviates some of the disappointment. Congrats to you.