Synchrony bank - resetting the clock on closed settled account?

[Anonymous]

So this bank has been closing my zero balance cards. All in good standing. They also lowered my Target limit to half with no explanation. This was all last year. I had PayPal credit that was late 60 days. I ended up settling for less than the balance so they closed this account in September 2020. I recently called to see if I can delete the PayPal account. Well this bank closed my zero balance care credit! Then recently reported my PayPal account closed this was 9 months after the original closing! This tanked my credit 29 points! I need help all my other credit is excellent. I feel like this bank targets certain people. I paid them my accounts NEVER charged off. They always got their money what do they have to gain by this type dealings? What can I do to remove this PayPal totally? 

[Flfico]

It will stay on your report for 7 years. If your PayPal account was 60 days late, this would not be considered good standing

[Anonymous]

I understand that but I settled the account and it was closed. They had no right to report to the credit bureaus recently as this past June as this all took place in September 2020 and they reported it closed then. Also they deleted a good standing card I had with them 

[800wannabe420]

I believe your Target card is serviced by TD Bank, not Synchrony.

[Anonymous]

Possibly It was awhile ago. But My real issue is with the recent reporting on a closed account and the deletion of a good standing care credit 

[Flfico]

Unfortunately, if they are reporting accurate information,  there's not much you can do but wait for it to fall off. If they are reporting something inaccurately you can dispute it but if it comes back verified it will refresh on your report as if it just happened. Synch has been balance chasing, CLD's and closures for much less. 

https://ficoforums.myfico.com/t5/Credit-Cards/Master-Synchrony-Account-Closure-Thread/m-p/6119157#M1...

[Anonymous]

Yes but the account is settled for less and closed. So that's why I'm confused. If they keep reporting on this account It will be detestation to my credit. They even taxed me on the remainder of the settlement. There should be nothing left to pay

[Sandman771]

You're saying that is is reporting. So you're saying on your June Report it showed up and then in July it showed again with a current date? If I'm understanding you settled the debt. Anytime a tradeline is ended it will report for a certain number of years. 7 for credit cards. So it will be there for a number of years but the date last reported should remain the same so it gets aged and eventually hurts less and less until it falls off. 

[Anonymous]

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@Sandman771 wrote:

You're saying that is is reporting. So you're saying on your June Report it showed up and then in July it showed again with a current date? If I'm understanding you settled the debt. Anytime a tradeline is ended it will report for a certain number of years. 7 for credit cards. So it will be there for a number of years but the date last reported should remain the same so it gets aged and eventually hurts less and less until it falls off. 

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Right it was settled and closed in September 2020 June 2021 it was reported closed again. I will try to upload a screenshot shot. 

[Anonymous]

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@Sandman771 wrote:

You're saying that is is reporting. So you're saying on your June Report it showed up and then in July it showed again with a current date? If I'm understanding you settled the debt. Anytime a tradeline is ended it will report for a certain number of years. 7 for credit cards. So it will be there for a number of years but the date last reported should remain the same so it gets aged and eventually hurts less and less until it falls off. 

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Basically it would have less affect on my credit a year out but the reported on it again basically resetting the clock on this closed settled account.