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Fed up with Synchrony's reporting

Super Contributor

Re: Fed up with Synchrony's reporting

I get wanting your score to always look as good as possible.  I'm guilty of this as well.

 

That being said, if you're sitting at 9% utilization, you're really walking the line in terms of that threshold and at any point could be just above or just below it.  If a $350 balance on a $10,000 limit card reporting is enough to push your across that threshold, IMO you're riding it too close.  Your first step should be to take your utilization all the way down to 1-2% if possible.  At that point, it likely wouldn't matter (score wise) if Synchrony reports you off-cycle, as you'd have a good amount of utilization padding there to absorb an abnormality. 

Message 11 of 37
Established Contributor

Re: Fed up with Synchrony's reporting

IMO, if this is going to be an ongoing source of frustration, then I'd use that 10K limit and app for a better card. Now that you have a high limit card, other banks will be more willing to give you one as well. Then SD the Sync and move on. 

Message 12 of 37
Contributor

Re: Fed up with Synchrony's reporting


@BrutalBodyShots wrote:

I get wanting your score to always look as good as possible.  I'm guilty of this as well.

 

That being said, if you're sitting at 9% utilization, you're really walking the line in terms of that threshold and at any point could be just above or just below it.  If a $350 balance on a $10,000 limit card reporting is enough to push your across that threshold, IMO you're riding it too close.  Your first step should be to take your utilization all the way down to 1-2% if possible.  At that point, it likely wouldn't matter (score wise) if Synchrony reports you off-cycle, as you'd have a good amount of utilization padding there to absorb an abnormality. 


That's correct.  And my close math walking that close line would have worked perfectly if Synchrony had not randomly reported the small balance off cycle.  It is what it is.  My utilization is about to go down, now that I have apped and approvals today.  Will post the data points for the group when everything is together.

FICO8...TU:776 EQ:777 EX:754 (BOA Business Visa $12000)(Barclay Arrival Plus $10000)(Uber $10000)(BOA Alaska Air Business $8500)(BOA Alaska Air $17000)(BOA Americard $8000)(US Bank Cash+ $10000)(BBVA Clear Points $7500)(Discover IT $7500)(Citi Thank You Preferred $6400)(blispay $3000)(Comenity Total Rewards $4200)(Cap1 QS $4500)(Cap1 QS $3000)(Cap1 Spark $4350)(Cap1 Spark $7500)(Cap1 Buy Power $1250)(First Savings cc $2250)(First National cc $2250)(Blaze $1750)(Credit One $1750)(Credit One $1250) (UTIL 16%)(AAoA 5yrs10mos)(No negatives)(Rebuilding began around 7/2015 with about 550 score...1st rebuilding card was Credit One $300.
Message 13 of 37
Frequent Contributor

Re: Fed up with Synchrony's reporting

Yes it happened to me also with my walmart card wasn't enough to worry about but it did.
Capital One QS 13.000
Discover It 13,000
Amex BCP 10,000
PayPal MC 10,000
Amex HH 6,000
Citi DC 8,000
Penfed 8,500
Amex Cash Magnet 6000
Walmart 10000
Kohls 3000
Message 14 of 37
Super Contributor

Re: Fed up with Synchrony's reporting


@BLCA wrote:



That's correct.  And my close math walking that close line would have worked perfectly if Synchrony had not randomly reported the small balance off cycle.  It is what it is.  My utilization is about to go down, now that I have apped and approvals today.  Will post the data points for the group when everything is together.


I think the more important question here, while it may veer the conversation off topic is why are you keeping your utilization at 9% rather than say 1%-2%?

Message 15 of 37
Contributor

Re: Fed up with Synchrony's reporting


@BrutalBodyShots wrote:

@BLCA wrote:



That's correct.  And my close math walking that close line would have worked perfectly if Synchrony had not randomly reported the small balance off cycle.  It is what it is.  My utilization is about to go down, now that I have apped and approvals today.  Will post the data points for the group when everything is together.


I think the more important question here, while it may veer the conversation off topic is why are you keeping your utilization at 9% rather than say 1%-2%?


 

 

My 10% is all at 0% or it's balances which will be PIF before end of cycles.  

Yes, I do take advantage of 0% money to keep my cash position strong and fix problems in my life.  

 

FICO8...TU:776 EQ:777 EX:754 (BOA Business Visa $12000)(Barclay Arrival Plus $10000)(Uber $10000)(BOA Alaska Air Business $8500)(BOA Alaska Air $17000)(BOA Americard $8000)(US Bank Cash+ $10000)(BBVA Clear Points $7500)(Discover IT $7500)(Citi Thank You Preferred $6400)(blispay $3000)(Comenity Total Rewards $4200)(Cap1 QS $4500)(Cap1 QS $3000)(Cap1 Spark $4350)(Cap1 Spark $7500)(Cap1 Buy Power $1250)(First Savings cc $2250)(First National cc $2250)(Blaze $1750)(Credit One $1750)(Credit One $1250) (UTIL 16%)(AAoA 5yrs10mos)(No negatives)(Rebuilding began around 7/2015 with about 550 score...1st rebuilding card was Credit One $300.
Message 16 of 37
Regular Contributor

Re: Fed up with Synchrony's reporting

Now I know what you mean. My new Marvel card current balance was reported with no statement being cut. It didn’t affect my utilization though.
Message 17 of 37
Contributor

Re: Fed up with Synchrony's reporting

Hey MrDisco99! I love your profile name! I know this is off topic from Synchrony, but as you mentioned, Barclays is very slow to report. They don't run out and report a balance right away, but in the same manner they do take forever to show the PIF $0 balance too. 

FICO 8 Avg.: 750 FICO 9 Avg.: 805 Total Rev CL: $375,000 CHASE/CITIBANK/DISCOVER/USBANK/AMEX/NORDSTROM/ MACYS/BARCLAYS/FNBO/JCPENNY/SEARS/TARGET/CHEVRON/1ST UNITED CU/PATELCO CU/AAoA 15 years
Message 18 of 37
Senior Contributor

Re: Fed up with Synchrony's reporting

Interesting. My statement cut for my Care Credit was January 15, got the statement and the balance said zero and amount due zero. There were no pending charges either.

 

January 18th I made a $36.00 purchase at rite aid and got alerts on all my reports on January 21 that there was  an increase of $36.00 on bank cards. Sure enough Synchrony reported the $36. 6 days after statement cut date reported the purchase.

Message 19 of 37

Re: Fed up with Synchrony's reporting

Hey everyone... I just had this happen with Synchrony on my Amazon Store Card.  I've had it for a few months with a $2,500 SL. Each month I charge about $1,500 on it and then PIF before the statement cut date.  During this cycle, all of a sudden they randomly reported about $1,200 to the bureaus, which obviously shot up my utilization on this card to about 50% and overall to over 20%.  

 

Has anyone figured out whether there is any rationale behind them doing this and how often it happens (once mid-cycle, etc.) or is it just purely random?

 

I guess I'll have to either not use their cards (like some of the other people here said) if I'm planning on applying for any other credit, or just PIF after every larger purchase.

 

Any additional thoughts or guidance is appreciated!

Message 20 of 37