What the heck is going on with Synchrony?

[Anonymous]

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@Anonymous wrote:
Also I must disagree humu - I know many people who have never heard of this site, who get sucked in by the promos at stores - 15% first purchase - and end up with a slew of store cards within a few month timeframe without having any clue they're all backed by Synch (i.e. Banana, Toys R Us, Old Navy, GAP Walmart etc). They get sucked in at checkout for a discount and before you know it they have 5 asynchronous cards ! This is especially true around holidays.

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Whether you disagree or not isn't the point here. The fact is that there are numerous statistics showing that most consumers open no more than one credit card per year if that. These statistics are factored into bank analytics and algorithm models along with a plethora of other data and risk factors.

On a separate note to answer your other question, I'd suggest to conduct a google search for bust out fraud if that topic interests you and you'll find lots of information. Good luck.

[Anonymous]

I find this thread so interesting to see who gets the blue envelope and who doesn't. And really I can't figure out the rhyme or reason. I have 3 cards with them, all opened within a 4 month period, all have gotten CLI's and nothing (knock on wood, I'll probably go home to a blue envelope). I updated my income several times (it hasn't changed since I got them). I was wondering if the income was triggered by people substantially increasing their income, but that doesn't seem necessarily to be the case!

[AverageJoesCredit]

Lol, " asynchronous" Joey, why not hee hee

[Bird123]

I did put my marvel income as slightly less than Lowe's. I forgot about that. But it was based off the fact that they asked for net not gross. I don't know, I'm just wiping my hands of the whole situation.

[Anonymous]

I know I haven't been on here in a while, so I'll provide an UPDATE for my experience with the mysterious "BLUE ENVELOPE."

It took about 3-4 weeks for them to even acknowledge that they had received my information back...When they did, they told me it would take about another week for them to process it. In all, basically a month total...

I got a letter in the mail stating that my information had been received and processed and my cards would be unfrozen...YAY RIGHT?

I got to the doctor's office to use my CARECREDIT and was informed by the billing dept that my card was INVALID...So I called CareCredit and had been informed by THEIR DEPARTMENT that my account had been closed because my information wasn't received by the date stated on the letter...

So, she checked my other accounts...SAME THING...

How can you send a letter out saying everything is OK, but then close the accounts? Thank GOD I didn't have a balance on any of them because I'd have been REALLY ANGRY...Not sure if I will be dealing with Synchrony any more in the future...

[AverageJoesCredit]

Thanks for updating this classic of a thread.

So in essence you filled out the required 4506 t and they still closed your accounts?

[Anonymous]

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@Anonymous wrote:

I know I haven't been on here in a while, so I'll provide an UPDATE for my experience with the mysterious "BLUE ENVELOPE."

It took about 3-4 weeks for them to even acknowledge that they had received my information back...When they did, they told me it would take about another week for them to process it. In all, basically a month total...

I got a letter in the mail stating that my information had been received and processed and my cards would be unfrozen...YAY RIGHT?

I got to the doctor's office to use my CARECREDIT and was informed by the billing dept that my card was INVALID...So I called CareCredit and had been informed by THEIR DEPARTMENT that my account had been closed because my information wasn't received by the date stated on the letter...

So, she checked my other accounts...SAME THING...

How can you send a letter out saying everything is OK, but then close the accounts? Thank GOD I didn't have a balance on any of them because I'd have been REALLY ANGRY...Not sure if I will be dealing with Synchrony any more in the future...

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Now that really sucks, big time, MADDY! Synchrony can/is weird. 

[Anonymous]

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@AverageJoesCredit wrote:
Thanks for updating this classic of a thread.

So in essence you filled out the required 4506 t and they still closed your accounts?

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Hey, Joe! Yep, this is the thread that never dies. lol Synchrony just keeps being weird and unpredictable.  I wonder how many more stories are" out there."

[AverageJoesCredit]

Oh yeah ML, cant wait for this years new crop of forum newbies to stumble on this one. But i think its just as applicable today as was months back. When planning on apping Sync cards SPACE out the apps, try not to get a bunch in a month lol. That, was a big take away for me.

I do find it interesting to see that , recently, on some cards, Sync doesnt necessarily jump up your limit with a call to CS right away. Have noticed many recent posters who get approved for lets say the Marvel mc and where as when it first came out we would call before we even had the card and bam, increase city. Seems for some now, even with good scores, have to wait a statement or 2. Just some Sync food for thoughts

[Anonymous]

Haven't been active in a while, but I fell into the Synchrony trap and want to share my experience.

I had my CareCredit since 2012 and on 01/30/17 decided to app for a Marvel MasterCard. FICO scores around 800+, no missed payments or any baddies, and was instantly approved for $10K. Next day I called in for CLI and was declined as my account was too new. Few days later, my account was frozen and I haven't received my card yet.

Did some research and the dreaded "blue envelope" came in the mail on the same day my card came. Given that my total exposure with Synchrony is only about $15K, I was a bit surprised of what had ensued. Decided to close both accounts and with it my history with CareCredit.

Part of my decision was that I didn't want to share my personal data with Conexis. At least I have a nice shiny Marvel Shield as a souvenir.