What the heck is going on with Synchrony?

[Anonymous]

Here is my scenario.... I applied at the beginning of June was approved for Walmart(400) called credit solutions now 7,000, Stash Rewards(4000). BP Visa(1200)and eBay (400) Marvel (2,000) had to call in for verification for all except Walmart. Anyway this past Tuesday I received Marvel card in mail it wouldn't activate said I needed to call customer service. Then stash came it did activate, next BP and eBay arrived same they would not activate told to call customer service. At that time the only card I had already received and used was Walmart and only used about 300. Well guess what logged into Walmart account yesterday and stash all
Accounts froze. Income reported is only 32,000. Thought I would share this is a different scenario from others. I have not called customer service yet. I have been following the other post going on. I will call on Monday...

[Anonymous]

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@Anonymous wrote:
Here is my scenario.... I applied at the beginning of June was approved for Walmart(400) called credit solutions now 7,000, Stash Rewards(4000). BP Visa(1200)and eBay (400) Marvel (2,000) had to call in for verification for all except Walmart. Anyway this past Tuesday I received Marvel card in mail it wouldn't activate said I needed to call customer service. Then stash came it did activate, next BP and eBay arrived same they would not activate told to call customer service. At that time the only card I had already received and used was Walmart and only used about 300. Well guess what logged into Walmart account yesterday and stash all
Accounts froze. Income reported is only 32,000. Thought I would share this is a different scenario from others. I have not called customer service yet. I have been following the other post going on. I will call on Monday...

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Thank you so much for sharing your story. Good luck with your call!

[Anonymous]

So with all the account freezes, is there anyone who has less than 5 accounts and is frozen??

[Anonymous]

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@Anonymous wrote:
So with all the account freezes, is there anyone who has less than 5 accounts and is frozen??

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Excellent question!

[baller4life]

Well my 4 accounts are alive and well this morning. What a shame to have to check them holding my breath. 😐 I never thought I'd have to worry about Synchrony. Makes me wanna go with just CUs even more.

[Anonymous]

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@baller4life wrote:
Well my 4 accounts are alive and well this morning. What a shame to have to check them holding my breath. 😐 I never thought I'd have to worry about Synchrony. Makes me wanna go with just CUs even more.

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My four accounts are all alvie and well, also. I check all my accounts in the mornings. 

[baller4life]

I feel like you ML. I won't be poking the bear as far as asking for any more clis. I'm good with my limits. I'll just try to fly under the radar. Hopefully...... 😄

[Meanmchine]

The questons we have been asking are not complete.  The following questions have to asked also.

Those of you  that have had your accounts frozen...

Do you own your own home, mobil home etc?

How many bankcards do you have compared to storecards.

Number of bankcards opened in the last 2 years.

Total bankcard exposure. It appears it is the bankcard portion of our portfolios that are the most concern.

Any questionable transactions like having a $1000 charge at a drycleaning store. Numerous bal xfers.

Any payments returned ( a major flag )

Earlier in this thread i think it was UncleB who posted the Experian white paper on what is called BUST-OUT fraud.

After reading this document I can see where tons oof you out there might hit the radar (High bankcard TCL,  low util. mult pif monthly many CLI requests,inquiries)

Here is the link. i hope i can post it

http://www.experian.com/assets/decision-analytics/white-papers/bust-out-fraud-white-paper.pdf

[Anonymous]

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@Anonymous wrote:
Here is my scenario.... I applied at the beginning of June was approved for Walmart(400) called credit solutions now 7,000, Stash Rewards(4000). BP Visa(1200)and eBay (400) Marvel (2,000) had to call in for verification for all except Walmart. Anyway this past Tuesday I received Marvel card in mail it wouldn't activate said I needed to call customer service. Then stash came it did activate, next BP and eBay arrived same they would not activate told to call customer service. At that time the only card I had already received and used was Walmart and only used about 300. Well guess what logged into Walmart account yesterday and stash all
Accounts froze. Income reported is only 32,000. Thought I would share this is a different scenario from others. I have not called customer service yet. I have been following the other post going on. I will call on Monday...

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Sorry this happened, progress.

The possible causative factor I can see here may be that you applied for and were aproved for 5 Synchrony accounts in less than one month. That is a lot of accounts in just a month.

Add into it the fact that you asked to increase one of the brand new cards by quite a large amount, and Synchrony might see it as aggressive credit seeking. Just my thought.

[Anonymous]

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@SnowBowl wrote:

I just checked all 3 Synchrony accounts this morning and all looks good so far.  but I decided to have a chat with them, I thought I might share it on here..  she was telling me they are considering putting 5 Synchrony accounts limit , so if you have 5 Synchrony accounts already opened you wont be able to open 6th. She did assured me that I wont have to worry about my 3 accounts, we will see, I thought it was interesting about 5 accounts limit so thats why I am posting about it.

EDIT: Forgot to add one thing, I didn't ask her about 4506-T thing, too darn chicken to ask

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I just had a chat as well and said that I am concerned because of all the closures that my new Marvel may be in jeopardy of being closed. I told the CSR this was my only account with Synchrony. She said there wouldn't be a problem as of right now. I asked why all the closings.

CSR said, sometimes it happens when people have multiple accounts, payments being returned, late payments, and not using their cards.

Just an additional FYI..