Walmart randomly closed?

[gdale6]

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@Anonymouswrote:

The credit reporting agencies consider 89 percent utilization as maximum so you're much closer to maximum on your other cards than you think.  That's another reason Synchrony might have closed you account. 

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Actually Fico does not a CRA they are just repositories of information.

[SirCredit]

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@Loquatwrote:

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@SirCreditwrote:

Well, yes. They said based on credit report activity. The only negative activity there has been utilization going up, but who cares?

I've been good to Walmart and never had an issue. My Dick's, Amazon, and Lowe's cards are all fine.

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Hi OP,

Sucks you're having to deal with this but to answer your question as to who cares about increased utilization, the short answer is, lenders.  They care because since they don't know us personally and we don't know them, they have to rely on credit reports, algorithms,  and I'm sure lots of other factors to determine and mitigate risk.  

You mentioned that your utilization has increased from 30 to 67 and that *could* be the reason for said closure.  You won't know the exact reason until you receive notification by mail.  While you may very well have it under control and have a plan to take care of such, lenders aren't privy to what's going on in your financial life or what's going on in our heads for that matter as it relates to repayment of debt.  

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Totally get that.

I guess the reason I'm so salty about it is the fact that they didn't reach out to discuss / work on it with me, given the good year-long history together. I would have done what was necessary to make them "feel comfortable" again had I been given the chance to do so. Sigh.

[SirCredit]

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@gdale6wrote:

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@Anonymouswrote:

The credit reporting agencies consider 89 percent utilization as maximum so you're much closer to maximum on your other cards than you think.  That's another reason Synchrony might have closed you account. 

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Actually Fico does not a CRA they are just repositories of information.

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Forgive me, but what is a CRA?

[Anonymous]

@gdale6

True; I should have said that the FICO scoring models consider 88.9 percent utilization as maximum utilization.

CRA = credit reporting agencies; the big three are Equifax, Experian, and TransUnion.

[SirCredit]

Also curious why they didn't touch Dick's, Amazon, or Lowe's? Are they all viewed through differing guidelines at Synchrony?

[Loquat]

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@SirCreditwrote:

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@Loquatwrote:

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@SirCreditwrote:

Well, yes. They said based on credit report activity. The only negative activity there has been utilization going up, but who cares?

I've been good to Walmart and never had an issue. My Dick's, Amazon, and Lowe's cards are all fine.

---

Hi OP,

Sucks you're having to deal with this but to answer your question as to who cares about increased utilization, the short answer is, lenders.  They care because since they don't know us personally and we don't know them, they have to rely on credit reports, algorithms,  and I'm sure lots of other factors to determine and mitigate risk.  

You mentioned that your utilization has increased from 30 to 67 and that *could* be the reason for said closure.  You won't know the exact reason until you receive notification by mail.  While you may very well have it under control and have a plan to take care of such, lenders aren't privy to what's going on in your financial life or what's going on in our heads for that matter as it relates to repayment of debt.  

---

Totally get that.

I guess the reason I'm so salty about it is the fact that they didn't reach out to discuss / work on it with me, given the good year-long history together. I would have done what was necessary to make them "feel comfortable" again had I been given the chance to do so. Sigh.

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OP,

I get what you're saying...but if a lender was to start calling *at risk* customer then they'd have to design and construct a call center just for that alone.  Not to mention, increased labor to staff said call center.  And I'll go futher, how long would it before they spend a lot of time leaving voicemails as most people won't answer a call they don't recognize and (2) how many people would scream at the top of their lungs about being harrassed for money that technically isnt due yet (if they're just running a high balance and current/never late).  

It creates way more work and cost money than I would guess most lenders are willing to spend.  

[Loquat]

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@SirCreditwrote:

Also curious why they didn't touch Dick's, Amazon, or Lowe's? Are they all viewed through differing guidelines at Synchrony?

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I'm hoping not, but Walmart could possibly be the calm before the storm.  

[SirCredit]

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@Loquatwrote:

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@SirCreditwrote:

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@Loquatwrote:

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@SirCreditwrote:

Well, yes. They said based on credit report activity. The only negative activity there has been utilization going up, but who cares?

I've been good to Walmart and never had an issue. My Dick's, Amazon, and Lowe's cards are all fine.

---

Hi OP,

Sucks you're having to deal with this but to answer your question as to who cares about increased utilization, the short answer is, lenders.  They care because since they don't know us personally and we don't know them, they have to rely on credit reports, algorithms,  and I'm sure lots of other factors to determine and mitigate risk.  

You mentioned that your utilization has increased from 30 to 67 and that *could* be the reason for said closure.  You won't know the exact reason until you receive notification by mail.  While you may very well have it under control and have a plan to take care of such, lenders aren't privy to what's going on in your financial life or what's going on in our heads for that matter as it relates to repayment of debt.  

---

Totally get that.

I guess the reason I'm so salty about it is the fact that they didn't reach out to discuss / work on it with me, given the good year-long history together. I would have done what was necessary to make them "feel comfortable" again had I been given the chance to do so. Sigh.

---

OP,

I get what you're saying...but if a lender was to start calling *at risk* customer then they'd have to design and construct a call center just for that alone.  Not to mention, increased labor to staff said call center.  And I'll go futher, how long would it before they spend a lot of time leaving voicemails as most people won't answer a call they don't recognize and (2) how many people would scream at the top of their lungs about being harrassed for money that technically isnt due yet (if they're just running a high balance and current/never late).  

It creates way more work and cost money than I would guess most lenders are willing to spend.  

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One automated email would have done it

[SirCredit]

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@Loquatwrote:

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@SirCreditwrote:

Also curious why they didn't touch Dick's, Amazon, or Lowe's? Are they all viewed through differing guidelines at Synchrony?

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I'm hoping not, but Walmart could possibly be the calm before the storm.  

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I was worried about that, so just paid off Dicks and made a large payment to Amazon and Lowe's. Also paid off 3 other small cards.

Hoping that helps... fingers crossed.

[Meanmchine]

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@SirCreditwrote:

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@Loquatwrote:

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@SirCreditwrote:

Also curious why they didn't touch Dick's, Amazon, or Lowe's? Are they all viewed through differing guidelines at Synchrony?

---

I'm hoping not, but Walmart could possibly be the calm before the storm.  

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I was worried about that, so just paid off Dicks and made a large payment to Amazon and Lowe's. Also paid off 3 other small cards.

Hoping that helps... fingers crossed.

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Hi SirCredit

I see your TU is 677 and your Walmart CL is $4k. This looks like you've been calling Credit Solutions.  How many times have you called since you opened your account?  If you continully hit the love button as your balances on your file continue to rise, red flags will start to go off with ANY lender. 

And yes, it appears that Walmart appers to be under the microscope in downtown Synchronyville