What the heck is going on with Synchrony?

[fltireguy]

What IF..

  LN was already data mining, and THEY were the ones that flagged the accounts for Sync to start with.... ? Outsourced risk management?

[pizza1]

---

@kdm31091 wrote:
I agree with pizza. There's a lot of mass hysteria going on which happened before with Barclays and Comenity. Everyone needs to breathe. Deal with AA if and when it happens. It's just a credit card. Life goes on. No reason to stress over things you cannot control before they even occur. Pay your bills and handle your cards responsibly. That's all anyone can do

---

LOL...."Everyone needs to breathe"....LOLOL..

[Anonymous]

I don't think it's a problem if different threads are started discussing a specific data point Irish80. It makes it LESS confusing.

Sorry to disagree with you.

[Anonymous]

---

@fltireguy wrote:

What IF..

  LN was already data mining, and THEY were the ones that flagged the accounts for Sync to start with.... ? Outsourced risk management?

---

That could be a possibility. Earlier this year (back in March maybe??) I requested a CLI on my Walmart card (on a Sunday evening), shortly after that I received a call from LexisNexis Risk Solutions about 8-9pm on a Sunday!! I didn't answer, and they didn't leave a message (the number on my caller ID led me to LN Risk Solutions). My gut told me at that time that the call was related to my CLI request, and now with all this BS with Synchrony and LN, I believe my gut was right. Does anyone know when the first Synchrony/LN 4506-T request started?

[Anonymous]

---

@pizza1 wrote:

---

@kdm31091 wrote:
I agree with pizza. There's a lot of mass hysteria going on which happened before with Barclays and Comenity. Everyone needs to breathe. Deal with AA if and when it happens. It's just a credit card. Life goes on. No reason to stress over things you cannot control before they even occur. Pay your bills and handle your cards responsibly. That's all anyone can do

---

LOL...."Everyone needs to breathe"....LOLOL..

---

Deep breaths....ahhhhhh....

[coldnmn]

Throwing this out there. GE split their credit cards off to make Synchrony credit independent. Could be making Synchrony attractive to potential buyers as they weren't crazy about credit division when they split it off.

[IgnatiusReilly]

I found this chart and it is fascinating... and may explain why Comenity and Synchrony go through these spasms.  We know subprime is profitable because of the obscene fees and interest rates outweigh all of defaults, but I would never have guessed that the CCC total losses come from, in the words of George Costanza, "the meaty part" of the FICO curve.  

[Anonymous]

Saw this thread so I checked my accounts...I have three accounts plus an Amazon card with them, all with zero balances, about $20K CL in total. I can access the accounts fine, I don't see anything online indicating any issues...though I haven't tried to make any charges recently.

[coldnmn]

A little reading from back in the day http://ficoforums.myfico.com/t5/Credit-in-the-News/GE-Capital/m-p/2916294/highlight/true#M9567

[coldnmn]

Back then they were worried about the credit card division dragging down GE so they split the credit department to Synchrony to seperate the possible loss. Now with the bad press and possible losses in my opinion they are trying to make the credit card division desirable for purchase and cut their losses.