What the heck is going on with Synchrony?

[Anonymous]

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@Anonymous wrote:

what is your total exposure and how many account do you have with Synchrony?

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If you're asking me, I did post that an hour or so ago...page 15

[SouthJamaica]

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@Anonymous wrote:

Anyone have a clue why all these frozen accounts are happening?

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I think it would be constructive if folks who do experience a freeze give us a short post telling us the salient points about their Synchrony account(s) so we can try to discover a pattern:

(a) total Synchrony limits

(b) total Synchrony balances

(c) whether carrying balance or PIF

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Anyone have a clue why all these frozen accounts are happening?

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I think it would be constructive if folks who do experience a freeze give us a short post telling us the salient points about their Synchrony account(s) so we can try to discover a pattern:

(a) total Synchrony limits

(b) total Synchrony balances

(c) whether carrying balance or PIF

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That would be great. Hope they read the thread and don't mind posting. 

[Anonymous]

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@pipeguy wrote:

Looks like they are just reducing their "risk factors" real or imagined, because their recent announcement is showing they are looking to increase the price/value of their stock.

http://www.marketwatch.com/story/synchrony-financial-announces-quarterly-common-stock-dividend-of-01...

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Thanks for the information pipeguy!

[AverageJoesCredit]

Lol guys, i do understand it can be hectic so many Sync threads popping up but i kind of agree with Donny10 here. As i read through the threads i find lots of great info, some new, some repeated , but i kind of like how as the posts progress the topic expands in different directions from the original post, thus a little more different then the other thread. At the end of the day or night, for me now anyhow, i assume we all love to read any post that we can that piques our interest. Have a great night guys, hope all our accounts are still there in the morning

[SouthJamaica]

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@AverageJoesCredit wrote:
Lol guys, i do understand it can be hectic so many Sync threads popping up but i kind of agree with Donny10 here. As i read through the threads i find lots of great info, some new, some repeated , but i kind of like how as the posts progress the topic expands in different directions from the original post, thus a little more different then the other thread. At the end of the day or night, for me now anyhow, i assume we all love to read any post that we can that piques our interest. Have a great night guys, hope all our accounts are still there in the morning

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At this point I haven't found a single data point on any of the other threads in which someone whose account(s) got frozen actually tells us what their situation was with Synchrony when it happened.

[Kidcat]

I have Lowes and Amazon Prime.  Lowes is sitting at $32k with CL of $35k as I am taking advantage of special financing.  Amazon is $300 of $6k and always PIF after the statement cuts.  So far no issues.

I will say that these are not new cards.  I've had them for years.  Don't know if it matters, but I will be checking in on them regularly and following this thread.

[Anonymous]

Irish is our community leader and since he has requested for us to please keep the relevant Synchrony information within the main thread, I will respect his request and do my best to post just within that thread going forward. He's seen a ton of posts on here, and I'm sure he knows what makes things easier for the board to run smoothly overall. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@kdm31091 wrote:
And it's fine to not want to give them, but my point is it's not like it's absurd or unique for Synch to want to verify that you'll pay back your debt by collecting your tax forms. It's all business.

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But, IMO, it is absurd of them to require it be sent to LexisNexis who can than share it with anybody. Now that I know what is really happening with our tax transcripts, my response to any 4506-T request will be pound sand.

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Honestly, that was a bit of information that I never knew! I love this forum! Just read long enough and no telling how much you will learn!

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I agree with you 100% ML. 

[Kidcat]

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@Anonymous wrote:

I see only one thing in common with the forum posts related to Synchrony adverse action and its income related. Almost all or 99.9% are reporting income levels of $90,000+. I don't understand why this hasn't been brought up already.

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Not true SO FAR.  I reported double that, and nothing so far.