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Synchrony closed all of my accounts today

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Mega Contributor

Re: Synchrony closed all of my accounts today


@Coco135 wrote:

My sync amazon account was closed as well a while ago.

reason was that I was on auto pay but I switched bank account and didn't inform sync...so for 2 months the auto pay didn't went through, I got notification for each of them and I just manually submitted payment each time without updating the auto pay acount number so they closed it.

when I called them they said that the decision is final and I will need to apply for new account...I chose not to and just paid it off 


This would be a more-than-sufficient reason for most/all lenders to close.   They don't like payments that don't work, even if the bill is paid anyway.

Message 221 of 249
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New Visitor

Re: Synchrony closed all of my accounts today

I feel the same way @policebox. I will never use them again! They definitely don't have you in mind when they make such decisions and how it will effect your credit standing overall. I'm still upset about them closing my account, especially knowing I never missed a payment and always paid more than my payment!

Message 222 of 249
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Regular Contributor

Re: Synchrony closed all of my accounts today

Yeah they starting doing to me now I have another about it I put a complaint to the corporate offices waiting for a response 

Message 223 of 249
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Regular Contributor

Re: Synchrony closed all of my accounts today

I left messages on ms keanes voice mail until they took it off the directly sent several emails to the ceo even sent in an arbration demand still have not heard a thing back still under review 

Message 224 of 249
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New Visitor

Re: Synchrony closed all of my accounts today

I was just informed all my Synchrony Accts have been closed as well. I have used Synchrony for years through different businesses and have ALWAYS paid my accounts off on time or early and never been late. The letter they sent me says "Too Few Accounts Paid as Agreed" This is 100% untrue. I have perfect payment history with all my accounts. I called Synchrony and asked them why they would do this and they told me to call the Credit Bureaus. I told them I did and the letter they sent me is completely untrue and they said nothing they can do. 

 

Now the most infuriating part of this is that now my credit that I've worked so hard to keep good is now going to show less available credit through no fault of my own. I just lost years of credit history making it harder to get new credit to replace what they took. All because of what? I did absolutely nothing wrong. All my accounts are in good standing and they have fabricated a reason to dump me. 

 

As a company they can go to hell. I will never do business with a company that uses them. However, I feel without cause they have damaged my credit and they should be held accountable. They did this during a global pandemic, when even with people going through hardships still kept they payments on time and in good standing and have kicked us when we're down. I do not believe it is fair when a consumer is paying as agreed to punish them and hurt their credit. Is there any legal action we can take? 

Message 225 of 249
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Super Contributor

Re: Synchrony closed all of my accounts today


@VanessaV wrote:

I was just informed all my Synchrony Accts have been closed as well. I have used Synchrony for years through different businesses and have ALWAYS paid my accounts off on time or early and never been late. The letter they sent me says "Too Few Accounts Paid as Agreed" This is 100% untrue. I have perfect payment history with all my accounts. I called Synchrony and asked them why they would do this and they told me to call the Credit Bureaus. I told them I did and the letter they sent me is completely untrue and they said nothing they can do. 

 

Now the most infuriating part of this is that now my credit that I've worked so hard to keep good is now going to show less available credit through no fault of my own. I just lost years of credit history making it harder to get new credit to replace what they took. All because of what? I did absolutely nothing wrong. All my accounts are in good standing and they have fabricated a reason to dump me. 

 

As a company they can go to hell. I will never do business with a company that uses them. However, I feel without cause they have damaged my credit and they should be held accountable. They did this during a global pandemic, when even with people going through hardships still kept they payments on time and in good standing and have kicked us when we're down. I do not believe it is fair when a consumer is paying as agreed to punish them and hurt their credit. Is there any legal action we can take? 


Sorry to hear this. I agree with you 100%.


Total revolving limits 648500 (572500 reporting) FICO 8 EQ 725 TU 752 EX 732

Message 226 of 249
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Established Contributor

Re: Synchrony closed all of my accounts today

@VanessaV 

 

the good news is that you WILL NOT lose your history with them (payments) and you will not drop your Age of Accounts - the accounts will remain for approx 10 years

 

so your utilization may go up due to loss of empty tradelines, but your history will not change

 

this happened to me in Feb - 4 accounts , $76k

 

my score did not drop

July 31/2019. EX-712. EQ-704. TU-726
Dec 16/2019. EX. 721. EQ. 723. TU 746
May 17/2020 EX. 733 EQ. 729 TU 753

July 5/2020 EX. 726 EQ. 720 TU 745
Inq. EX 8 EQ 4 TU 3


Cards
Amex BCP $20k
Apple GS $15k
BMW/Elan $2.5k
Cap1 QS $16.7k
Chase Amazon $13.6k
Chase United Club Infinite $20k
Citi DC $13.5k
CreditUnion1 $9k
DiscoverIT $20.5k
HSBC Gold - $10.5k
Wells Sig Visa $12k
Message 227 of 249
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Community Leader
Super Contributor

Re: Synchrony closed all of my accounts today

I truly wonder if a class action could fly. While they have the right to close accounts at their whim, the scope and timing is questionable, at least from a moral standpoint.







Message 228 of 249
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Established Contributor

Re: Synchrony closed all of my accounts today


@Brian_Earl_Spilner wrote:

I truly wonder if a class action could fly. While they have the right to close accounts at their whim, the scope and timing is questionable, at least from a moral standpoint.


I know we do not always get the full story, but I would also wonder if the reason provided to the customer for closing the accounts was factually inaccurate if that would have any bearing.  Like telling someone they've been deemed high risk would be harder to argue than telling someone they've been late when they haven't.









Message 229 of 249
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New Visitor

Re: Synchrony closed all of my accounts today

Yes it is. I understand  their right to close but they ligitimately had no good reason. I've been a customer for 8 years, paid previous accounts off on time and early and have never once missed a payment or even been late. Not with them or my other creditors. When I told them that their letter to be was completely false they told me to take it up with the Credit Bureau's, there is nothing to take up with them since all my credit reports show no late payments as well. They are a horrible company and need to be taught a lesson. As long as the costomer is performing per the agreement they should also perform per agreement. 

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