Welp, I angered the Synchrony gods......

[madmann26]

I woke you up to my Synch accounts closed, albeit, they seem to have left my Venmo alone, for now. No emails from them either.

Am I angry? Naw. Do I understand why they did it? Naw. Do I care? Naw.

The only balance I carried was on my Lowes but it was less than 10% of it's limit, always paid when it was due, never late. Other cards I used, then paid when charges posted. I had 6% util across the board.

No lates were reported, no serious changes other than a few new accounts. Hell, I actually closed 2 of my other Synch accounts last week. Was it that? Who knows. This seems to be their mantra.

The crappy part is they'll report the accounts closed, a couple had a balance and that'll sting. I went through and paid them all. It's not like I don't have the funds. :/

[Drifter73]

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@madmann26 wrote:

I woke you up to my Synch accounts closed, albeit, they seem to have left my Venmo alone, for now. No emails from them either.

Am I angry? Naw. Do I understand why they did it? Naw. Do I care? Naw.

The only balance I carried was on my Lowes but it was less than 10% of it's limit, always paid when it was due, never late. Other cards I used, then paid when charges posted. I had 6% util across the board.

No lates were reported, no serious changes other than a few new accounts. Hell, I actually closed 2 of my other Synch accounts last week. Was it that? Who knows. This seems to be their mantra.

The crappy part is they'll report the accounts closed, a couple had a balance and that'll sting. I went through and paid them all. It's not like I don't have the funds. :/

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Curious about the following:

- You mentioned paying some off with balances after closure, were they being slow paid over time or pif?

- You mentioned low utilization. How much time went by between using each card for a new purchase?

- You mention several cards closing. How many sync cards did you have total?

- With the above in mind, what was your total sync credit limit exposure (all sync cards combined)?

- Last question, what's your income vs. Total credit exposure on all cards (including non sync cards)?

Trying get data points to help myself and others prevent advers actions that hold multiple sync cards.

For instance, I hold 4 sync cards, each sees 1 purchase every 1 to 3 months. All are pif except 1 (carecredit) leveraging promotions. Total sync exposure is $20k (46% of income) and my total personal credit exposure (including non sync cards) is 1 1/2 x  income. (Not including business credit)

So far, so good.

[madmann26]

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@Drifter73 wrote:

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@madmann26 wrote:

I woke you up to my Synch accounts closed, albeit, they seem to have left my Venmo alone, for now. No emails from them either.

Am I angry? Naw. Do I understand why they did it? Naw. Do I care? Naw.

The only balance I carried was on my Lowes but it was less than 10% of it's limit, always paid when it was due, never late. Other cards I used, then paid when charges posted. I had 6% util across the board.

No lates were reported, no serious changes other than a few new accounts. Hell, I actually closed 2 of my other Synch accounts last week. Was it that? Who knows. This seems to be their mantra.

The crappy part is they'll report the accounts closed, a couple had a balance and that'll sting. I went through and paid them all. It's not like I don't have the funds. :/

---

Curious about the following:

- You mentioned paying some off with balances after closure, were they being slow paid over time or pif?

- You mentioned low utilization. How much time went by between using each card for a new purchase?

- You mention several cards closing. How many sync cards did you have total?

- With the above in mind, what was your total sync credit limit exposure (all sync cards combined)?

- Last question, what's your income vs. Total credit exposure on all cards (including non sync cards)?

Trying get data points to help myself and others prevent advers actions that hold multiple sync cards.

For instance, I hold 4 sync cards, each sees 1 purchase every 1 to 3 months. All are pif except 1 (carecredit) leveraging promotions. Total sync exposure is $20k and my total personal credit exposure (including non sync cards) is 1 1/2 x  income. (Not including business credit)

So far, so good.

---

Cards that had balances were closed when I got up this morning. I paid all of these before 8a EST.

Balances on those cards are relatively small compared to their CLs. I closed 2 of my Synch accounts in good standing/0 balance just because I didn't use them and was actually trying to do the right thing by reducing my exposure with them.

My total exposure with them was about $59k, with $29k being my Lowes card. My income is about $266k/yr.

My advice, and others will echo this, don't rely on them for credit.

[Ushio]

Synchrony is wild. Sometimes I really wonder how they manage to survive as a company, since they're so consistently awful to so many people. It really must just be people who don't know better since they've basically cornered the market of at-the-register store cards.

[ElvisCaprice]

Sync doesn't have anything special that you can't find  with an alternative issuer with equal or better terms.  Best just to avoid them altogether.  But if you are going to go there, don't poke the bear.  Be happy with your SL, in fact maybe reduce it with a CLD on day one to your spending needs/utilization.

[coldfusion]

Did you go through a recent cycle of successful CLI requests?  

[madmann26]

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@coldfusion wrote:

Did you go through a recent cycle of successful CLI requests?  

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Sure did.

[Drifter73]

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@madmann26 wrote:

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@coldfusion wrote:

Did you go through a recent cycle of successful CLI requests?  

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Sure did.

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That seems to be consistent with other threads about sync closures, so it may be safe to assume cli sprees are a trigger.

[coldfusion]

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@madmann26 wrote:

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@coldfusion wrote:

Did you go through a recent cycle of successful CLI requests?  

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Sure did.

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There's your likely answer.  That's a known trigger even if the cardholder has a pristine history. 

[BallBounces]

Welcome to the club.

FWIW, I actually don't think that asking for recent CLIs is the trigger.  But I also will not pretend to know why Synch does what they do.