Master Synchrony Account Closure Thread

[snickerpedia]

I am sorry this happened to you but that is some serious credit seeking behavior - especially the loan.

What is your AaoA?

[Anonymous]

Average Age of Accounts is a little over 3 years.

Oldest account 14 years.

I am rebuilding and finished replacing terrible credit cards with good cards.

Last month my DCU Visa was raised to $5K @9% and Visions Visa $10K at 8.25%

I just think I poked the bear with soft inquiry requests with Sync.

I called they said letter coming in 7-10 days.

I don't need the credit and will pay off the $4K remaining balance (paid some today) within 30 days.

It just stings to lose $50K in credit and I liked some of those stores.  B&H saved me sales tax, Amazon 5% back. I don't need those cards but just mourning them.

[coldfusion]

Multiple requests for CLIs, followed by an aggregate balance of $6K with a recent debt consolidation loan.     Sadly with Synchrony being so twitchy recently this isn't a surprising outcome.

Sorry this happened to you OP.

[Anonymous]

I understand and learning.

I never suspected that requesing a CLI that is a soft pull would hurt me.

Going to lock my 3 bureaus and give someone else the passwords to unlock for 1 year.

[CreditCuriosity]

Doubt it was the CLI's but the debt consolidation loan and the slew of inquiries showed possibly trouble coming.  Sorry this happened

[Anonymous]

Is that really a slew of inquiries it's 10/3 bureaus.

Would Sync even see them all or just 1 bureau?

[CreditCuriosity]

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@Anonymous wrote:

Is that really a slew of inquiries it's 10/3 bureaus.

Would Sync even see them all or just 1 bureau?

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Only you can know.. Can see if whom they SP'ed from annualcreditreport.com.   They certainly could SP all three as they are a current creditor of yours.  They also have access to 3rd party systems such as number works, innovis, sage stream, etc..  Such things such as number works has income information, sage stream, etc credit seeking inquiries regardless of EQ/TU/Exp, etc, etc.

[HeavenOhio]

I think it's a combination of things with the debt consolidation loan being the pièce de résistance. Debt consolidation loans certainly make financial sense. But the combination of these loans and suddenly available credit are often viewed like oil and water by lenders.

[M_Smart007]

@Anonymous, I am very sorry for your closures

#SyncTheHatchetLender

[blindambition]

Sorry about the closures OP! There's a few factors I see triggering the closures, but think it was the loan that activated the guillotine.

Synch isn't playing in these times. They have a hair trigger reaction of slightest risk.