What the heck is going on with Synchrony?

[Anonymous]

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@Ysettle4 wrote:

Very informative thread with regards to sync card account holders, so thank you. My exposure with them is currently $42K with my income north of $160K. I too only spend a fraction of the limits allocated each month. Guilty like most are.

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Very happy you and others are enjoying this information as much as I am.

[CreditCuriosity]

Most here most likely won't be impacted just like Comentity died down this will in time will as well..  As long as you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof otherwise as stated most people on here won't be hit at all even if not willing to provide 4506 form..  This will pass in time like every other lender that does weird things like this every once in awhile.  

[Anonymous]

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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I agree...

[Anonymous]

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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The 4506-T request from Synchrony authorizes LexisNexis to access the tax returns. In other words, a data aggregator - who sells the info to anybody willing to pay - will have it.

[Anonymous]

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@Anonymous wrote:

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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The 4506-T request from Synchrony authorizes LexisNexis to access the tax returns. In other words, a data aggregator - who sells the info to anybody willing to pay - will have it.

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I won't do that....ever...

[CreditCuriosity]

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@Anonymous wrote:

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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The 4506-T request from Synchrony authorizes LexisNexis to access the tax returns. In other words, a data aggregator - who sells the info to anybody willing to pay - will have it.

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I agree I hate lexisnexus...  I wouldn't comply to Sync's request and have the accounts closed.. Now if it was Amex or Chase I would have no issue providing them with my 4506, LexisNexus I wouldnt dream of sharing it with them..  So I don't blame anyone that would not provide this to a cruddy company such as them being lexisnexus

[Anonymous]

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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The problem is that Synchrony is sending their 4506-T to LexisNexis Risk Solutions - I highly doubt many people will be willing to provide that 4506-T knowing it's going to a 3rd party data collector (who can share it with anybody willing to pay for it).

[CreditCuriosity]

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@Anonymous wrote:

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@CreditCuriousity wrote:

Most here most liekly won't be impacted just like Comentity died down this will in time will as well..  As long as or you are willing to provide your 4506-t and didn't fib about income you should be good if asked for proof..  This will pass in time like every other lender that does weird things like this every once in awhile.  

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The problem is that Synchrony is sending their 4506-T to LexisNexis Risk Solutions - I highly doubt many people will be willing to provide that 4506-T knowing it's going to a 3rd party data collector (who can share it with anybody willing to pay for it).

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I agree, should of make that clear on first post...  Bit me quicker than I could fix it

[Anonymous]

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@CreditCuriousity wrote:

I agree I hate lexisnexus...  I wouldn't comply to Sync's request and have the accounts closed.. Now if it was Amex or Chase I would have no issue providing them with my 4506, LexisNexus I wouldnt dream of sharing it with them..  So I don't blame anyone that would not provide this to a cruddy company such as them being lexisnexus

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Chase also shares your 4506-T with a 3rd party data collector, so does Citi and God knows who else. Go back to page 4 of this thread and read Humu's post regarding this.

[baller4life]

I'll never share tax info with LexisNexis. I'd have no problem replacing my $60k worth of credit with Synchrony with some CU cards. Already have a few on deck! 😅