Sorry OP for your troubles. I've noticed there are quite a few members posting closures.
I wonder how many use the auto pay full amount feature?
I have all of my synchrony cards set to auto pay the full balance.
I haven't used my Walmart MC since November of last year. Lowe's and the Marvel cards do see almost monthly usage.
Sometimes I wonder if the lenders take note of customers that use the auto pay feature?
I've apped for waaaaaay more credit than you OP. I don't think new credit accounts has anything to do with it either.
Maybe they've changed the algorithm that predicts a default? You were PIFing monthly and then your payment pattern changed. I'm just thinking out loud here, I have no idea why all the closures.
Synchrony can be your best friend or your worst enemy depending on the stock market or the day of the week.
I wonder how many use the auto pay full amount feature?
I have all of my synchrony cards set to auto pay the full balance.
I haven't used my Walmart MC since November of last year. Lowe's and the Marvel cards do see almost monthly usage.
Sometimes I wonder if the lenders take note of customers that use the auto pay feature?
I've apped for waaaaaay more credit than you OP. I don't think new credit accounts has anything to do with it either.
Maybe they've changed the algorithm that predicts a default? You were PIFing monthly and then your payment pattern changed. I'm just thinking out loud here, I have no idea why all the closures.
Synchrony can be your best friend or your worst enemy depending on the stock market or the day of the week.
@Anonymouswrote:
Quick update!
Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.
Its been said in dozens of posts around here... Synchrony is a strange unpredicable beast!
Haha, 600 to 7k and they want to close your Wally. Thsts Sync for you. I think its a very good idea for people to stop requesting multiple increases across all platforms within 1 month . I think msybe a 3 or 4 month try might be more comfortable but again thats just my opinion
@Loquatwrote:
@donneumeyerwrote:i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time. i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.
Until this mentality changes then we will continue to read post of such. There is no such thing as "money left on a table". I learned this the hard way. It's credit, nothing more, nothing less. Increased lines allows us to spend at a higher level (which is great if needed) or allows up to pad utilization to hide the amount of debt we're carrying. I know many will say that they PIF which is great but for those 20 something odd days that we float that credit, we're in debt. Regardless of the ability to pay it back on a moments notice, until that money is repaid, it's debt.
I don't want come off as a hypocrite because I to use to hit that button more than I needed to for absolutely no good reason. Mostly because I too thought that I was "leaving money on the table". But you know what I ended up with...extremely high limits on very basic/useless store/fuel cards. After all, I needed that $10K line on BP gas card...doesn't matter than I rarely charge over 100 bucks. But I learned a lot from sticking around here and reading lots of informative post. Stick around here long enough and you'll learn a ton. You'll eventually get over the mentality of "leaving money on the table".
+1 Well said.
