My credit has been screwed over and I am so dumbfounded as to how it all happened so fast and it was all a very big misunderstanding. I was trying to buy my hotel and flight package after months of looking at deals and planning. I had to book it soon, should have booked it back in December. Prices are only going to go up. I finally pull the trigger and my sizable card with <8% utilization was declined. I was wondering why and tried it a few more times. Declined for a total of 3 times. I finally get the sense to call Sychrony to see what the hell is going on and why I can't purchase my flight package. They said it was due to "suspected fraud". I told the lady, no, I 'm trying to use my card to book my travel. She then starts to go over the different attempt at charges and mentions one for $600 or so for Iberian Airlines. I don't know why that one was charged. So, automatically since I did not recognize that charge( I don't really know how these travel sites work), they say fraudulent activity was taking place, file a report and unbeknownst to me they make it sound like I'm just going to get a new card in the mail and everythings good. No, that is not what's happening. My account is being closed. I call to ask if I can get the card info so I can finalize my travel plans - No, you must wait till you get your card in 7 - 10 business days. I look at my credit reports in the next couple of days and my $8000 card is closed! Equifax is quick to say card is maybe closed? So false, wrong info being transmitted. I'm so fn screwed. I'm trying to get a DCU car loan in the next few weeks! d@%^it!!! I'm so very upset. Now the history on the card has to restart, avg age goes down. Nothing but all bad. I know it can't be undone. I thought I knew what I was doing in the credit rebuild arena as I have learned so much in the last year from credit experts that have helped and that I've been working around. I totally did not see it coming!
Synch will sometimes close a card if there's fraud and open a new one. They generally transfer the account info over.
@Anonymous wrote:
IME, They close the account and it keeps all the history and they open a new account along with all the new account penalties except for a hard inquiry, and it also has the payment history.
So prepare to go into a new account scorecard with a possible AAoA hit. I’m sorry this happened to you. I don’t think it should be right. But synchrony is as synchrony does.
That would be strange if so, I actually don't know any lender that does it that way for fraud? New account number yes, but not new tradeline in the sense that it will keep the old open date ergo no new account scorecard (or at least not for that).
Generally the old tradeline gets whacked too in my experience, but I never used my Wally enough to ever get a fraudulent charge unlike my Chase accounts that get swiped everywhere. Pretty sure based on experience Amex / BOFA similar too but that was a while ago for me.
