Is Synchrony still lowering available credit and closing accounts (lowe's)

[Superduper2014]

Thanks.. I also just discovered that they will report again every time there is a large purchase , they have reported today for a 2nd time and will again for sure then when I do the other purchase before the end of the moth. 

I am leaning towards your idea and just apply for an increase. I am still hesitant because I haven't done the next purchase and I have a feeling that they may not like my scores anymore and would instead determine they have to reduce my limit. Not sure if this can actually happen, you know more than I do, but maybe since they will be reporting my next purchase anyway, I could wait until my next purchase posts to the account and then request the increase, that way if they decide to close or reduce the limit, at least I got the next purchase in at 24 months at zero apr. If after the purchase, I request the increase and it works, then the better and I will do a happy dance. 

Any thoughts on this plan? Thanks

[SouthJamaica]

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@Anonymous wrote:

The only real unifying things I've seen among those with closures was high aggregate limits with Synch over several cards, sitting largely unused. That may or may not be the trigger but it does seem to be common among the victims.

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Exactly. The common theme wasn't that they were having a problem with heavy usage.

IMHO what they were doing was looking for a fast and easy way to lower their loan loss reserves to spruce up -- in a fake way -- their quarterly financials, and the easiest way was to get rid of large unused credit limits. All of the Synchrony CLD posts I saw on this forum were from people who had high limits and light usage.

[Anonymous]

They won't lower your limit if you ask it to be increased.  Not that it matters, but tell them that you're requesting $35k because you are planning to make a large purchase.  You aren't telling them the amount you plan to spend, but presumably your current limit may not suffice.  It would be a poor financial decision on their part to then initiate a CLD, as it would only lower the chances of them getting that large purchase out of you.

[Superduper2014]

thanks all... 

@Anonymous I will follow this. However, since they will still report after my next purchase and still have limit for that, I will request the increase after that posts and say exactly what you suggest and hope for an increase or just a no. That sounds like a plan? Thanks a lot

[Bradsrq1]

Sync Bank closed 2 of my accounts and they both had zero balance. Lowes and Care Credit. My credit scores are not terrible. Exp 696, Eqfx 671, Trns 665. Probably wont apply again for any Synchrony accounts.

[Anonymous]

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@Bradsrq1 wrote:

Sync Bank closed 2 of my accounts and they both had zero balance. Lowes and Care Credit. My credit scores are not terrible. Exp 696, Eqfx 671, Trns 665. Probably wont apply again for any Synchrony accounts.

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What was the reason given for the closure of the accounts?  Were they not used for a prolonged period of time?  Was negative information recently introduced to your CR, even if from other accounts outside of Synchrony?

[Anonymous]

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@Superduper2014 wrote:

@Anonymous I will follow this. However, since they will still report after my next purchase and still have limit for that, I will request the increase after that posts and say exactly what you suggest and hope for an increase or just a no. That sounds like a plan? Thanks a lot

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Sounds good to me.  You'll get an increase or a no for sure.  I say 10% chance you get an increase to whatever [high] number you shoot for, 65% chance you get an increase that lands somewhere between your current limit and what you ask for, 25% chance you get a no, 0% chance you get a CLD.  Definitely report back and let us know how it turns out!

[Superduper2014]

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@Anonymous wrote:

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@Superduper2014 wrote:

@Anonymous I will follow this. However, since they will still report after my next purchase and still have limit for that, I will request the increase after that posts and say exactly what you suggest and hope for an increase or just a no. That sounds like a plan? Thanks a lot

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Sounds good to me.  You'll get an increase or a no for sure.  I say 10% chance you get an increase to whatever [high] number you shoot for, 65% chance you get an increase that lands somewhere between your current limit and what you ask for, 25% chance you get a no, 0% chance you get a CLD.  Definitely report back and let us know how it turns out!

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I will definitely update this thread.. I am good at coming back later and get you guys updates on all my threads.. that is the least I can do for all the help and good info I get from you all. 

At least the Lowe's increase that was reported did not put a dent on my FICO scores.. so I have some chances.. it seems. Have a great day!!

[Superduper2014]

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@Anonymous wrote:

They won't lower your limit if you ask it to be increased.  Not that it matters, but tell them that you're requesting $35k because you are planning to make a large purchase.  You aren't telling them the amount you plan to spend, but presumably your current limit may not suffice.  It would be a poor financial decision on their part to then initiate a CLD, as it would only lower the chances of them getting that large purchase out of you.

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Hi @Anonymous When you say, tell them that I am requesting suck amount due to planning a large purchase, are you suggesting I better call them for a line increase or just do it from my online account?

Are they going to do a soft pull? Calling or via website? 

I think I will try and do it now. Also, I have a 15k line... used now at 53%.. should I request 30K at least and see what happens? 

Thanks again

[Anonymous]

It will be a SP.  I say do the call rather than online.  When you do it online I believe it's automated, as in no human being involved so it will go completely off of your data an nothing more.  When you do the call and involve a human, I'd imagine they'll then submit the same request through the automated system (for you) which will likely return the same result.  The only difference however is that the human may have the ability to pull some strings (speak to a higher up, etc) if the returned result isn't quite what you want. 

For example, online you may request $30k and it counters with $18k.  You walk away with a $3k CLI period end of story.

On the phone you request $30k and the human says we can give you $18k.  You say you've got a really big purchase coming up and want to know if it's possible to get closer to that $30k line.  They either say no $18k is the best they can do, or they say let me put you on hold for a second and return with a number > $18k.  I'd take this second option if I were in your shoes, as it can't hurt and can only help.