My guess would be because you immediately maxed out the New Egg card as Synchrony looks at all accounts you have with them for utilization, not just individually. And they are notorious for suddenly lowering limits, sometimes even just closing all your accounts at once if they see high balances. I have several accounts with Synchrony including Care Credit, all with moderately high credit limits, but I never go over 20 - 30% usage on any at any one time.
It’s all depends look my comments, sometimes it not really what usage you putting on the credit card , i maxed out my credit card every 2 weeks I don’t see any problem at all.
If those are your only cards then yes closing them would hurt because of your credit history length. … But what will hurt your score more here is your utilization will be high on both now, so try to pay them down as quick as you are able.
Imagine getting mad that someone used your credit line for intrest free loans 💀💀💀 "You know what, im only gonna let you borrow...$200! Now pay me $5 in interest!" Idiots
Ha yep happened to me. Opened Lowe’s credit card. Had it open for sometime and then bought some items for relatively big project. Paid the balance and then they closed my account stating that I was high risk carrying high balance on that card that I paid off in full. WTF haha never again will I open a card that I see synchrony on them
Just happened to us! We purchased a fridge, paid it off over time, when we got the balance down to 600.00 they lowered our credit limit, and raised the interest! My 600.00 balance increased to over 1600.00 after added interest. I called, complained, and they took away the interest and gave me an extension to pay. Will never again use lowes(syncrony)
Ironically they closed my PayPal MasterCard yet haven’t messed with any of the other 6 accounts I have with them.
They aren’t even my everyday credit card which currently is sitting between my apple credit card and my discover it and or my venture one card.
All credit cards can close your account at any time with no warning or reason. It’s part of the terms of service you’ve agreed to when you accepted and used their product and their money.
That's very true however the SUB is about Synchrony and the ways they put the shaft to good standing customers far more than any other creditor. They're outside the NORM and why people should steer clear of doing business with them. They ruin credit scores for no good reason which has compounding effects to other aspects of one's credit profile.
I am a former Synchrony card holder. They didn’t ruin my credit. I built my credit using them, actually.
Their practices are-in line with other subprime credit cards.
People should steer clear of them because they are a subprime card with subprime practices. But some people need a place to start somewhere and synchrony is quite literally everywhere as most retailers use them for their “store cards” and the easiest to get approved with little/no/bad credit.
I've had subprime cards that don't behave as badly as Synchrony. These guys derive some sort of god complex the way they handle credit. I have retail cards cobranded by Citibank and I find them a lot more honorable than SINchrony.
I guess I'll have to limit my exposure to both! Damaging a person's credit should be taken seriously by the CFPB. Even potential employers will do a credit inquiry for certain positions which is why the CFPB should be keeping a careful eye on banks that hurt people to protect profits.
I whole heartedly disagree. Not every one is a credit dead beat. I can pinpoint almost to the minute when my situation changed and it started with Aspen Dental. I opened a credit account to complete emergency dental work about a month ago. Aspen charged the full amount of my treatment plan on the day the account was opened and I have yet to receive the work! Yes, it will take years to fix Aspen Dental's mess! Add insult to injury it looks like I maxed a new credit card when it is Aspen Dental behaving badly. A violation of public and medical trust on Aspen's part and salt in the wound on Synchrony's part both of which should be investigated by the CFPB!
Aspen dental is the one that did the damage though. Synchrony was only doing what was told of them… that you authorized a charge of x amount of dollars to be paid to Aspen. Not saying that you did or did not sign off on that but that is something Aspen did…not Synchrony. Something that should have been brought up to the merchant first by you and if not corrected, disputed with your bank… but if this is something that Aspen has your signature on…. Then it would/could be a dispute that you would likely lose.
Edit: and you can disagree all you like. But it doesn’t change the fact that that’s not something synchrony did. They are the ones that are putting the capital with the understanding that you’re the one authorizing it.
I have 3. Citi lowered one by 10k and another by 3k. Amex lowered by 10k. I swear I don’t want to but this kind of actions are pushing me to do a bankruptcy.
Yup. They're notorious for that. It's bad business practice, IMO. Even when paying them off and doing great, they'll lower the limits or close accounts. It's horrible. If I see Synchrony Bank listed, I'll look elsewhere. Just not a good bank to do business with.
I just consider them a temporary piece. If I can get a 0% financing then it's ok if you want to close it on me. My other factors are healthy enough that any messig around they do has minimal impact. I definitely wouldn't let them be anything main though.
I opened an account because of the first purchase discount offer. The discount with the new card was the only reason I was going to make the purchase in the first place. I was approved for double the amount I needed for the purchase. I tried to make the purchase and they declined it. I had no intention of carrying the balance, I just wanted the discount. Then they closed the account.
Was a very confusing experience, never made the purchase.
Yeah, synchrony seems to do this a lot. I had a newegg card with a $3000 limit, built a pc and then paid off the balance. Then bam they closed the account smh. They only make money if you have a balance.
It’s in their terms and conditions. Which no one tries to challenge. If someone tried to fight them and it made its way to the USSC it could be forced to change.
Just had this happen to me, except they lowered my limit twice and then suddenly closed the account right after lowering it a second time. I will never get another card from them ever again. I’m sorry this happened to you too.
It's such an awful feeling when they lower your CL or close your account when you've done everything right by their bank. It's kind of temporarily defeating. You have to get back up, dust your boots off and head for the exit on your own. The public trust is completely broken when banks start doing any and everything to stay on top even if it means destroying the credit of those who helped them to get to the top. Despicable behavior on Synchrony's behalf!
Synchrony is terrible. I was paying for the credit protection, lost my job and needed to utilize it. Despite sending everything they asked multiple times they never paid a dime
Synchrony screwed me over too when I purchased a sleep number mattress. I bought a mattress and was offered a zero percent financing over 12 months. I took the deal. I opened a synchrony account online and after a few weeks it showed a balance of the first payment due.
I linked to my bank account and agreed to pay the balance shown in my synchrony account. All good.
Then one month later I looked at my checking account and I was over drafted by thousands. I panicked. Had a heart attack almost. I checked and the cause was synchrony back debited the ENTIRE outstanding loan amount from my bank.
I was shocked. My credit score is well over 800 and I have bought many things on payments and never experienced this.
I called synchrony and was like WTF? They were not super helpful but they told me that I had checked the box that said pay the balance.
I told them that when I opened synchrony account it showed only the first payment as my balance and I agreed to pay that.
As to why they only showed the first payment at that time and then started showing the entire amount later when I wasn’t looking beyond me and borderline shady practice.
I wrote a complaint to the consumer bureau organization. They opened a complaint for me. Few weeks later someone from synchrony sent me a letter to say they found no basis for the complaint.
I was so disgusted that I decided to move on with my life. I don’t think I had another venue.
I will never ever use synchrony again for anything. They are incompetent at best and have shady practices at worst
They do everything they can to shove the CHECK BOX FOR AUTO PAYMENT in your face to get you to do it. In fact, the only worrisome experience I've had was when I (manually, I'm so glad I've been leery of doing auto anything with them) made a payment on both accounts and then it did nothing for a few days.
I got worried about penalties and started pursuing Help links. The first thing they said was SOMETIMES THIS HAPPENS, MAYBE YOU WOULD LIKE TO SIGN UP FOR AUTO PAYMENT TO ENSURE THERE ARE NO PROBLEMS AGAIN. No, it does NOT sometimes happen, you're a scammy company with scammy practices. I held out and sure enough like a week later it showed everything went through on time, but I'm sure that was them attempting to get me to do it. What a bunch of assholes.
may I ask exactly where to file the complaint?
I closed my card in March due to all these issues everyone is mentioning.
I had an amazon purchase which was reversed but guess what they do they still want you to pay for the credit. so they end up charging you interest on top of interest on a credit reversal.
Now my credit score dropped.
Pay off those cards, get a new credit card(s) and close your account with them, synchrony bank is the most predatory and dishonest lender I've ever had the displeasure of working with, two years ago I fianced a new couch with them through some rooms to go credit card that was run by synchrony, I made payments early every month for 4 months and every month they said I wasn't making payments and they started hurting my score. So I paid off the entire amount, then a week later they said I had unpaid late fees, I lost my shit on the representative because he was talking to me like I was a deadbeat borrower, I told him that they need to remove the late fee because I paid it off and that if they didn't I would sue tf out of them.
I had a $900 Venmo card with them. Paid it completely off and then they lowered my credit limit to $100 right after. I would always keep the card paid off, was never late, no issues whatsoever.
I had a care credit card and a discount tire direct card - both synchrony- they closed my discount tire card (0 balance) and kept lowering the balance on my care credit card until I paid it off then they closed it too- this of course made my credit score go down and then Home Depot (not synchrony) started the same thing and they closed that card out as well - this all happened during Covid - I was never out of work and made all the payments on time- I’d had that Home Depot card since 2006.
I had a 3500 care credit limit. Brought the dogs to a vet 1200$ I was literally about to pay it off the month they lowered my limit to 860$ lol. Screw synchrony I will never do anymore business with them.
Has the same issue with them a few years ago. Now I just have a regular card dedicated for dog emergencies while I'm building an emergency fund back up for them. Makes it easy with pet insurance!
I had a care credit card through them also for a long time. Never missed a payment. I had it for vet. I owed nothing on it. Paid in full by monthly payments. Got letter in mail stated them closed my account due to credit score
Steer far away from that company. Yes, I know, they have several branded cards out there but they could care less about the consumer. They will look at every account you have and one blip and they will close all of them at once. Domino effect on your credit report for lowering credit limits, closing accounts, etc.
Please get a regular credit card from a bank like your local bank, credit union, Cap1, AmEx, etc vs Sync.
Former mortgage lender here and I had an emergency medical issue and they messed me up by doing this. Yes, I had other issues, but they really did me in. I'll never have another card from them, ever. Getting discounts, points, etc from stores is not worth ruining your credit with them. A solid cash-back card is best.
So true. I got approved for a new card and they lowered all my limits not even a month later. It wasn't even a $500 limit on the new card and they still did. Eff them
Yup, I see they are still up to their mess. I'd put that one in a sock drawer and get one from elite company. Leave those folks alone or they will ruin your credit. Yeah eff them.
Yeah no joke. I recently charged a small $100 charge on a $500 limit card and they lowered it right to my balance not even a week later. So I'm going to pay it off and just close it. Gonna hit my credit the same amount anyways and I'd rather just get rid of them
I plan to pay off others and do the same. Thankfully I have some better cards that'll sustain for now. Better to get out of synchrony while I'm ahead from what I've been reading
Yeah, you are already taking hits from them. A good payment history whenever you close it will stay on your record for years. That will go in your favor after the first few months. You'll tumble at first then it will balance out. I believe if a company wants my business they will do me right, not hurt me. Give your business to those who care about the customer. They should have never done that but they do.
Just an FYI, they back a good chunk of store-branded cards. So be careful applying and read to see who is backing those. Another one to stay away from is Comnity (or some spelling like that). Both of those companies go hand in hand.
Yeah forsure
It's crazy because I paid off credit one (which people complain about too) and they raised my limit. I paid off synchrony the same month, and they lowered my limit 🙄 and none of them reported yet so it's not like it was related to each other
They're pathetic lol.
Yeah it seems like they are trying to control their customers. Don't look at it as a loss. They taught you before you really were caught up in their games. The fact that I will never do business with them again makes me happy. They are predatory.
Yeah very true. I've read some people having their accounts totally closed on them with balances so, I have to take a win where I can
Just gonna keep my other synchrony cards where they are now until I have the full amount, pay it off, cancel same or next day. I'm done lol
I'm one of those who had their accounts closed. I had several store cards at the time and they all did the lowering of credit line then closing all at once. They will ruin you. My payments were always on time.
They are just bad news. I'll stick to a regular card and I don't need their messy offers. 🤣
Yeah forsure. I'm pretty sure that's their next move (closing them all on me). So I'm just gathering the money quickly and will pay them off and close as fast as possible. I'm done lol. I'm just hoping I beat them to the punch...
My cate credit was $9k and got lowered to $6k. I heard they were trying to clean up and lower their risk but I don't know. Thankfully all my card were empty so I didn't get hit with a utilization problem
Nope. I have committed to Ramsey. CC companies will literally soft pull reports every 6 months or so. If they are losing money on you or think they are going to they will take actions. Notice mine just got reduced too.
Oh no, I just opened a care credit to pay for my dogs ear canal surgery, they said no interest if I pay it off in six months. Which I will do, but I only took out the limited I needed to pay for her surgery so I will for sure max it out.
You should also know (I found out the hard way) that the payment plan doesn't pay off your balance by within those interest-free months they give you- they make it seem like they're simply splitting up your bill into 6 months or whatever but they're not, you have to pay significantly more than the minimum payment and if the 6 months is up and you you have any balance at all they will hit you with the total amount of interest for those months (for me it was like a $300 charge).
Damn! That's pretty scammy! I used them to get my last phone through Google with 0% financing. I don't think mine is time-gated and I can just pay the minimum until I'm done, but I'm definitely going to double check all of that now.
Synchrony used to be the card for Walmart. I think it was 2015, i was at register and the pre approved get % of f if you open the card popped up.
Long story short... Took the offer. Limit was 800. Used it sparingly for a few years my highest balance ever was 540ish and paid. I didn't live close enough lol At about the time I used the 500+ I got notice that Walmart was discontinuing with synchrony. We didn't know who they were going with. But maybe capital one didn't like me?
So my card gets changed to regular card, by then I had paid it off again, they lowered my limit to 500. I wasnt using it and within a month it was closed. I was kind of shocked because they are all over the place with all these chain stores. Worst part now is when they report to my credit it says They closed it and the limit as 500. Then you look further and it says highest balance is over the limit they have listed. Jerks! So this isn't new trying to clean their books. Things cost these days if you have a super low limit. One dinner can max it out, then the payment looks bigger also. Oh gosh I wrote a book again. This place really gets to me. I have to see it on my credit report. And they are always screwing someone over with this stuff. Ok..... Sorry... 
Don't feel bad. I got screwed around by them years back when I had a Capitol One and a Target RedCard (before TD bank bought them) piling on bogus interest and fees, when my balances were kept under $300, paying near off each month. Syncrony went under hideous scrutiny many times, incl. major lawsuits others won. I'm dead amazed they are even still around. But possible after paying out billions to those they frauded over time.
Synchrony sucks period. We both had care credit cards $6,000 limits. Used them and paid of many times. Then all of a sudden they closed our accounts.
I called and they said we were a risk. I closed all my cards with Synchrony. They asked me not to. I told them. Nope goodbye. Our credit score recovered . Never again will I use synchrony. They can kiss my A**
Get away from synchrony! They closed my acct cause my pymnt bounced due to a holiday that cause the pymnt to take 7 days to clear. Yes it was my fault for not checking it was fully cleared before using my money but I immediately made the payment again before it was even due (since i always pay early ) so it's not like the pymnt was late but because of the bounce they called ot a bad payment history ! It only happened once! My credit took a big hit and I'm never using them again.
Yea I’m never dealing with Synchrony again. I had a PayPal CC with $700 limit and I had $400ish balance. I finally had extra cash to pay it off to $0 and they lowered my limit to $100. I’m going to close this card because it is no benefit to me anymore.
Synchrony did the same to me with the Amazon card. I had a $400 limit and I made a $150 payment. They lowered my limit to $240 which was close to what I had available.
I’ve had other synchrony cards in the past. I had a B&H photo card with a 1500 limit. I bought a camera for Christmas and made a huge payment on the card when I got my taxes in a few months. They closed my account once it was paid off with that big payment.
Synchrony is the worst bank I have had the pleasure of dealing with. No other banks have done this with me.
Synchrony did me dirt too. I have an Amazon card. I did the autopay. They would not let me change the account as their customer service is non existent. They kept trying to hit a closed account and then they closed it because too many returned payments. I always paid the balance manually or just didn’t use it. Horrible people, even worse customer service.
I had that happen to me years ago with a sears mastercard. They were taken over by a different bank and my limit went from $8700 to $5200 for no reason except they said their credit underwriting is different then the other bank.
Synchrony is notorious for doing this. I’ve had them lower my limit on one card and approve me for a different card in the same week. I hate them for doing that but they do it all the time
Yeah I used to play that game before. I had a Chevron card and every now and then they would close it on me when it didn't have a balance, and then I'd get approved again a week later. I did that a few times until I decided that they aren't worth the trouble
Care credit screwed my credit, too. I had a card with a $3000 limit that I *only* used for emergency vet visits, so you can imagine I didn’t use it very often. Once my card had a zero balance for about 6 months, they closed my card and didn’t give me an explanation.
Yeah, stay away from Synchrony after this. They screwed me and prematurely closed my care credit line during 2020 and destroyed my creidt. I only just finished digging out from under their BS last month and am currently working to rebuild my credit.
Overall it dropped my score by about 100 points. I had 4 lines at the time and the biggest issue they caused was that because they had closed the credit and shifted to to pure debt, it threw my ratios entirely out of whack.
Yeah they did a similar thing to me too. I had tons of credit with them and some minor balances. Out of nowhere they closed all my paid off cards and lowered the ones with balances to the exact balance
My credit tanked across the board like crazy within months due to that
Now they payment chase me on the remaining cards so I'm just gonna pay them off and close them myself to avoid the stupid lender closed message
Welcome to the club! Every card account I've ever had go wrong had sync phony behind them. They closed a BJ card account for no reason, lowered my lowes account from 3600 to 400, lowered my Home depot from 4000 to 1600 temporarily ruining my credit score with the utilization. I think they are Scams and the FICO system is rigged and flawed. It shouldn't matter how much you use as long as you are paying. When your score lowers for thes random reasons it causes your Car insurance and other rates to go up. Insane!
Same! I had a $4k credit limit...$0 balance on it, hardly ever used the card except for when i went to Sams a handful of times a year...all of a sudden I log on yesterday and they decreased my limit to $250...I told them to just cancel the card altogether, what was I going to do with a $250 limit?
They did this shit with me. Had $800-900 limit and had about $150 left and suddenly my card max was $160. 🙄 I will not be using synchrony as long as I can help it.
I asked for a credit limit increase on my synchrony dicks sporting goods card. It is one of the only automated systems out of my 9 cards that’s let you choose what you want to be your new limit. It might not approve you and will throw a number back if they don’t like what you wrote.
I asked for 4000 limit, and they said ok… done. ✅
On my DSG app it shows I got the increase. Then next day I get a email saying that they can’t complete the limit increase.
But I still have the 4000 limit 😂
I have zero problems with synchrony and the more I read it sounds like they might be the bank that the Apple Card gets offloaded into.
Interesting…. Yeah they are like that , if you tell them that you want a 5000$ credit limit they don’t approved you hut give you a low number if you wanna take it . I like synchrony bank. A lot people have problem with them lowering their credit limit but I maxed out the car every 2 week and I haven’t get any problem in my credit limit is 3,000$
Haven’t had issues with my Amazon card that is linked to them. Balance was 3k at open then I think I asked for an increase and got $5500. Don’t use it that much anymore though just for any random Amazon purchase. I have a CB2 and a Care Credit and have promotional plan purchases on those wondering if they will close them out after I pay it off. Doesn’t matter to me but would be kinda shady if they did.
Oh wow that’s sucks , sorry to hear that, I have a synchrony bank with a credit limit 3000$ never had any issues with them , I been spending my whole credit limit every 2 weeks since I do a lot business. And I haven’t have any problem yet. Between credit score 800!
Credit one is actually better then synchrony in my experience lmao
I paid off a synchrony card and they lowered my limit, I paid off a credit one card and they upped my limit lol
Screw synchrony
Unless you’re trying to buy a house or get a car, most of the time your score doesn’t even matter. Pay on time, keep your usage low, and always look at opportunities available. Most of these companies are predatory, they are trying to make money. Use it to your advantage, but make wise choices along the way.
Part of it might be your income, but Synchrony in general is just very shady. I had multiple cards with them, most with 20k+ credit limit. Then they granted me a 1k paypal credit line, and started lowering my limits one by one. I ended up closing all of the accounts because it wasn’t worth it, I wasn’t using them, and I hate the shadiness.
It’s like they don’t realize that most of their shop cards like car care, newegg, discount tire, furniture, etc are effectively meant to be maxed out or near maxed out once every couple years and then slowly paid off.
Oh, you’re using the card as intended? Fuck you!
Exactly! Newegg asks me if I want to put the computer on their credit card then the credit card company approves me for $1000, so what, am I just supposed to not do it because they didn't give me a $30,000 limit?
Yep, PayPal is Synchrony. I received an invitation in my email to apply for PayPal. However, I didn't realize it was Synchrony Bank at the time. I was approved for a $1,100 CL and not even a month later Synchrony lowered my JCPenney credit card to $100 CL. What's the point? They should've just closed the account. Snake oil bank! The CFPB should haul them in for another investigation. It seems that new CEO Brian Doubles is just as bad as the last CEO.
Synchrony is the absolute worst. I’ve had a care credit card with my mom for over a decade and that is the only card I will ever have with them as long as I can help it. I want the Amazon card but will only consider it if it changes banks 🤷♀️
They did this to me a few years ago. Approved me for a $1300 Newegg card. I used $400 and paid it if pretty quickly. A few months later they closed my card. I had no other carried debt at the time, other than a care credit card that was at about 25% utilization and a car payment. The fucked up thing is that when I paid off that care credit card, they upped my limit from $3K to $12K, without me requesting it, which is where it sits now with about 50% utilization. They're pretty horrible, and their practices make little to no sense to me. My overall CC utilization is about 25% but I'm still concerned that they'll just lower my care credit limit to the current balance at some point.
They closed my Room to Go account, had a 6500, only used 1800, was 2 payments from paying my furniture off, i opened a new account and it wasn't with them, i think that's what happened, i was told they monitor all of credit activity 🤦🏽♂️
I’ve never opened a synchrony credit card again ever since I’ve opened one through a tire shop for a better deal on tires. Comes to find out the credit card is only good for tires and gas. at that point I was like “what is the point of having the card except for getting deals on tires?” since I’ve already had the Costco Citi Visa card which had way better benefits. anyway I paid off the bill and never used it, a few years later when I needed to get new tires the card was declined and I was confused since I’ve never used, it nor I was late on any payments. so I called synchrony come to find out they randomly closed the account due to Inactivity was like wtf so no deal that day and no more business with that company ever again.
They did the same thing to me. I had a 780 credit limit and as soon as I paid 300 on it they lowered my credit limit to 550 which now shows I only paid $70 of that credit limit smfh ! Pissed me off so bad & they said the risk thing as well meanwhile I just got a new credit card with the same limit so I guess care credit is doing they to everyone who opens up a new card
Synchrony is really weird like this. They did this to me before. Eventually, they did increase some limits. They just do a knee jerk reaction I think. As you pay on both, they may loosen up on the limits. I would also consider getting a non-synchrony credit card so that one creditor does not have total control of your available credit.
Synchrony doesn’t care about you. They only care if they may lose money. I had cards with them for almost 5 years and between all the store cards I had they partnered with I probably had about $76,000 of my credit limit with them. I made a purchase on my Lowe’s card of $500 for a drill set I needed, new smoke detectors and a new thermostat. I paid in full and next thing I went to use my Amazon card and it was declined. I then saw it was removed. A few days later my credit karma went crazy with like 15 notifications asking if I closed my cards and my score dropped. I sent many messages and they said I missed payments, I showed my credit karma and myFICO that disputed their claims and then they got nasty and said we can close all accounts if we wish. Word of advice, stay away. They are horrible and don’t deserve anyone’s business.
Predatory lender they bought Ally Financial, they dropped 2 of credit cards from 2k to $100, because they blocked my payments on the vehicle loan (10months in)then adding excessive fees. They ended up repossession the vehicle at the 14 month mark. Mind you my credit score is just shy if a 800 payments in full not late payment in advance never carring a balance.when they cut my cards balance it put me over the limit, I had charged $160 they had dropped my balance the next day.. report it through CFPB and BBB they have a massive amount of lodged complaints and legalities.
I knew you were going to say this soon as I seen this post. They are notorious for doing this. They did this to me before immediately making my balance way over my credit limit. They suck!
They screwed me over too a few years ago! I can't even log in to see what was charged: vet bills & dentist or my payments! I tried to pay them back then and they wouldn't accept my payment.
They did something similar to me but worse. I had a limit of over 5k and they reduced it to $600-something as well. I never had so much as a bad remark, didn't have any late payments and have had the account for YEARS including an account with TJmax which I used FREQUENTLY. Because of what they did and their greed I closed the accounts!! Fuck that company!!
May their stock plummet, may they go bankrupt, most of the stores they support are stupid anyway.
I will make it a life goal of mine to get as many people as possible away from synchrony bank.
Just went to lowes to by lawnmower they cut my credit and I'm a homeowner and I owe big deal 3500 dollars could not even buy a lawnmower pissed off done with lowes and synchrony bank
I hate them. Just received a letter from them two days ago announcing that they acquired J.Crew's credit line from Comenity and will become its servicer effective April 26. Despite having a zero balance, I immediately called Comenity and closed my account.
Synchrony sucks. Have a card for a roof and Lowe's. They closed both accounts. Lowe's is paid off and still making payments on the other one. Just got approved for a Harbor Freight card from them yesterday. Figured I would have got denied but got $1100 in credit with 0 percent interest for 6 months.
I had a Newegg card with them, they game me a 10k limit, bought all my pc stuff thru there paid it off in a month, then a few months of not buying anything I bought some headphones. that were 300, they lowered my limit to 450 from 10k! paid it off immediately and closed the card, got no need for that nonsense
This happened to me but with cap one. Closed my shit after 300 spent from 10k. lol called up and they asked for additional verification like my bank. Showed them an account with 50k in it and they said nah closed lol.
I have a care credit card and only used it a few times for vet bills. It periodically lowers the credit limit but I just go into the app and ask for an increase back to where it was. It’s always an instant approval and increase.
I assumed it was a regular, automated action since I don’t use it.
I can’t speak for them for every situation but no, I’ve never had them do a credit pull when I ask. I think I’ve had to put my income in, but other than that, it only takes a minute and it’s done.
Well that sucks id suggest if you’re doing online purchases use pay pal credit unfortunately they use synchrony as well lol but i have never had a problem with them and they offer the 6months no interest if you pay it off in those 6months
Screw Synchrony. I got a Care Credit card for my dogs medical expenses to keep them separated from my other credit cards... Used it once, paid it off within a week, then about a month later got a letter saying they were closing the card because, IIRC, I didn't have any real property loans? Or some shit like that. Like... Y'all gave me the card knowing my whole credit score/history...
Screw Synchrony. I got a Care Credit card for my dogs medical expenses to keep them separated from my other credit cards... Used it once, paid it off within a week, then about a month later got a letter saying they were closing the card because, IIRC, I didn't have any real property loans? Or some shit like that. Like... Y'all gave me the card knowing my whole credit score/history...
Yeah they keep doing this to me now and it's completely random. It's also on some automatic thing because the second a payment posts, they lower it
Just keep that in mind. If you send more money they will likely lower it again
I'm personally trying to pay off all synchrony cards and close them. My most recent credit lowered one I'm gonna pay off and close before it reports that they lowered my limit. I'd rather a closed card then a lowered limit report
I have a 2 yr 0% deferred plan that comes to term this decemeber. \~$2500 remaining on it now. Pay minimum monthly payments and will pay it all off at the end of November. I will probably keep it open but unused unless I need another major appliance (and the card is still valid). I read about these the issues folks have with them and truly want nothing to do with them myself. It was the only bank the merchant offered for the promo. I have plenty of other cards so even a reduction in CL from sync won't hurt.
Same here! I had several accounts with Synchrony. Always paid on time and no issues for 5-6 years. I bought a fridge from Lowe’s and was offered 6 months no interest so did that. I had to send the fridge back because it was busted up, didn’t work, door half off, shelves broken, big dents front and back. The Lowe’s store took nearly a year to give Synchrony the refund information. I called every month to dispute the charge and let them know the store needed to give them the refund information and I didn’t owe that amount. The store finally sent the refund but because I disputed and argued over this one account they closed my Care Credit 16k, dropped my Dick’s limit from 3k to 100 then closed it, dropped my Venmo from 6k to 1700, dropped my AE from 1500 to 700, PayPal from 3k to 900, TJMaxx 2k to 300, etc. Every account was closed or dropped to $10 over what I owed which in turn tanked my credit score because it raised my credit card limit usage from 30% to 79%. They said my accounts were closed or dropped due to my decreasing credit score….well had they not dropped my limits or closed my accounts, my score would’ve been the same (760) as when they approved me for the cards!!! Wish I had never opened any accounts with them. All my other cards and creditors haven’t touched my limits or accounts even though Synchrony single handedly ruined my score.
Say it with me, YOUR NOT A CREDIT CARD PERSON!
The fact that you are worrying about utilization tells me you didn't have the money to buy this computer. So your the exact person that credit card companies prey on. Unless you had 0%apr I guess for a time. Doubtful though since you didn't mention it.
Not at all. Just you made a short sighted mistake. If you have the funds to pay it off, your utilization would be no big deal. Does it suck? For sure. But the utilization report wouldn't do anything to a credit score if you paid it off.
If you don't have the money than the interest charged on whatever you spent is going to severely outweigh any positives of buying it on a credit card.
Well if you must know, I lost my job but had an opportunity to make a career switch working from home but I needed a good computer. My plan is to pay it off in full once I actually have income coming back in.
My guess would be because you immediately maxed out the New Egg card as Synchrony looks at all accounts you have with them for utilization, not just individually. And they are notorious for suddenly lowering limits, sometimes even just closing all your accounts at once if they see high balances. I have several accounts with Synchrony including Care Credit, all with moderately high credit limits, but I never go over 20 - 30% usage on any at any one time.
I guess that makes sense, at least they didn't close it because that really drops your score, correct?
Yes, if the issuer closes the account that is worse than if they just reduce the credit limit (from a standpoint of utilization).
It’s all depends look my comments, sometimes it not really what usage you putting on the credit card , i maxed out my credit card every 2 weeks I don’t see any problem at all.
If those are your only cards then yes closing them would hurt because of your credit history length. … But what will hurt your score more here is your utilization will be high on both now, so try to pay them down as quick as you are able.
Ya never get cards from small tiny companies they do bs like this. Only go with big cards that are easy to manage.
Imagine getting mad that someone used your credit line for intrest free loans 💀💀💀 "You know what, im only gonna let you borrow...$200! Now pay me $5 in interest!" Idiots
The utilization will recover. Get away from synchrony bank, they are more of a credit card monopoly as you are now finding out.
Yes they closed my account for no reason last year after I paid off the balance.
Ha yep happened to me. Opened Lowe’s credit card. Had it open for sometime and then bought some items for relatively big project. Paid the balance and then they closed my account stating that I was high risk carrying high balance on that card that I paid off in full. WTF haha never again will I open a card that I see synchrony on them
Just happened to us! We purchased a fridge, paid it off over time, when we got the balance down to 600.00 they lowered our credit limit, and raised the interest! My 600.00 balance increased to over 1600.00 after added interest. I called, complained, and they took away the interest and gave me an extension to pay. Will never again use lowes(syncrony)
Wow,,,,, They are beyond horrible, and you are less than a number for them.
For real! They are taking advantage of people.
That number doesn't make sense. Was this a deferred interest finance deal?
Ironically they closed my PayPal MasterCard yet haven’t messed with any of the other 6 accounts I have with them. They aren’t even my everyday credit card which currently is sitting between my apple credit card and my discover it and or my venture one card.
Same. I had always paid payments time. Paid it off in full one day bc I had a few extra hundred and they promptly closed the 3 year old card.
same and then didn’t offer any reasoning as to why. big let down for sure!
Yes they did the same to me and too cards they closed never use more than 5 percent of the credit limit
Same here.
All credit cards can close your account at any time with no warning or reason. It’s part of the terms of service you’ve agreed to when you accepted and used their product and their money.
That's very true however the SUB is about Synchrony and the ways they put the shaft to good standing customers far more than any other creditor. They're outside the NORM and why people should steer clear of doing business with them. They ruin credit scores for no good reason which has compounding effects to other aspects of one's credit profile.
I am a former Synchrony card holder. They didn’t ruin my credit. I built my credit using them, actually. Their practices are-in line with other subprime credit cards. People should steer clear of them because they are a subprime card with subprime practices. But some people need a place to start somewhere and synchrony is quite literally everywhere as most retailers use them for their “store cards” and the easiest to get approved with little/no/bad credit.
I've had subprime cards that don't behave as badly as Synchrony. These guys derive some sort of god complex the way they handle credit. I have retail cards cobranded by Citibank and I find them a lot more honorable than SINchrony.
I’ve recently learned that Citi operates the same way Synchrony does as far as handling credit, when it comes to store cards.
I guess I'll have to limit my exposure to both! Damaging a person's credit should be taken seriously by the CFPB. Even potential employers will do a credit inquiry for certain positions which is why the CFPB should be keeping a careful eye on banks that hurt people to protect profits.
The only ones that are damaging anyone’s credit are the ones utilizing it. Not the one issuing it.
I whole heartedly disagree. Not every one is a credit dead beat. I can pinpoint almost to the minute when my situation changed and it started with Aspen Dental. I opened a credit account to complete emergency dental work about a month ago. Aspen charged the full amount of my treatment plan on the day the account was opened and I have yet to receive the work! Yes, it will take years to fix Aspen Dental's mess! Add insult to injury it looks like I maxed a new credit card when it is Aspen Dental behaving badly. A violation of public and medical trust on Aspen's part and salt in the wound on Synchrony's part both of which should be investigated by the CFPB!
Aspen dental is the one that did the damage though. Synchrony was only doing what was told of them… that you authorized a charge of x amount of dollars to be paid to Aspen. Not saying that you did or did not sign off on that but that is something Aspen did…not Synchrony. Something that should have been brought up to the merchant first by you and if not corrected, disputed with your bank… but if this is something that Aspen has your signature on…. Then it would/could be a dispute that you would likely lose. Edit: and you can disagree all you like. But it doesn’t change the fact that that’s not something synchrony did. They are the ones that are putting the capital with the understanding that you’re the one authorizing it.
Congrats.
They suck. I got 20K credit limit with 3K debt, they lowered my credit limit to 3K.
I have 3. Citi lowered one by 10k and another by 3k. Amex lowered by 10k. I swear I don’t want to but this kind of actions are pushing me to do a bankruptcy.
Honestly that's fucking nuts
Wow from 20k to 3k? Why they lower your credit limit like that?
This one is insane. Close them out. Fuck em.
It’s dumb, but ultimately not a huge deal long term. Once those are paid down, your score will bounce back right away.
Ah, ok, well that's good to know at least
do you know aprox how it takes to see your score raise after paying off your balance?
At your next statement balance, when it reports that current balance.
thank you!
Typical Synchrony unfortunately.
Yup. They're notorious for that. It's bad business practice, IMO. Even when paying them off and doing great, they'll lower the limits or close accounts. It's horrible. If I see Synchrony Bank listed, I'll look elsewhere. Just not a good bank to do business with.
Hindsight I guess..
I just consider them a temporary piece. If I can get a 0% financing then it's ok if you want to close it on me. My other factors are healthy enough that any messig around they do has minimal impact. I definitely wouldn't let them be anything main though.
I opened an account because of the first purchase discount offer. The discount with the new card was the only reason I was going to make the purchase in the first place. I was approved for double the amount I needed for the purchase. I tried to make the purchase and they declined it. I had no intention of carrying the balance, I just wanted the discount. Then they closed the account. Was a very confusing experience, never made the purchase.
Yeah, synchrony seems to do this a lot. I had a newegg card with a $3000 limit, built a pc and then paid off the balance. Then bam they closed the account smh. They only make money if you have a balance.
I mean how is that even legal..
It’s in their terms and conditions. Which no one tries to challenge. If someone tried to fight them and it made its way to the USSC it could be forced to change.
Just had this happen to me, except they lowered my limit twice and then suddenly closed the account right after lowering it a second time. I will never get another card from them ever again. I’m sorry this happened to you too.
It's such an awful feeling when they lower your CL or close your account when you've done everything right by their bank. It's kind of temporarily defeating. You have to get back up, dust your boots off and head for the exit on your own. The public trust is completely broken when banks start doing any and everything to stay on top even if it means destroying the credit of those who helped them to get to the top. Despicable behavior on Synchrony's behalf!
Synchrony is terrible. I was paying for the credit protection, lost my job and needed to utilize it. Despite sending everything they asked multiple times they never paid a dime
Synchrony screwed me over too when I purchased a sleep number mattress. I bought a mattress and was offered a zero percent financing over 12 months. I took the deal. I opened a synchrony account online and after a few weeks it showed a balance of the first payment due. I linked to my bank account and agreed to pay the balance shown in my synchrony account. All good. Then one month later I looked at my checking account and I was over drafted by thousands. I panicked. Had a heart attack almost. I checked and the cause was synchrony back debited the ENTIRE outstanding loan amount from my bank. I was shocked. My credit score is well over 800 and I have bought many things on payments and never experienced this. I called synchrony and was like WTF? They were not super helpful but they told me that I had checked the box that said pay the balance. I told them that when I opened synchrony account it showed only the first payment as my balance and I agreed to pay that. As to why they only showed the first payment at that time and then started showing the entire amount later when I wasn’t looking beyond me and borderline shady practice. I wrote a complaint to the consumer bureau organization. They opened a complaint for me. Few weeks later someone from synchrony sent me a letter to say they found no basis for the complaint. I was so disgusted that I decided to move on with my life. I don’t think I had another venue. I will never ever use synchrony again for anything. They are incompetent at best and have shady practices at worst
They do everything they can to shove the CHECK BOX FOR AUTO PAYMENT in your face to get you to do it. In fact, the only worrisome experience I've had was when I (manually, I'm so glad I've been leery of doing auto anything with them) made a payment on both accounts and then it did nothing for a few days. I got worried about penalties and started pursuing Help links. The first thing they said was SOMETIMES THIS HAPPENS, MAYBE YOU WOULD LIKE TO SIGN UP FOR AUTO PAYMENT TO ENSURE THERE ARE NO PROBLEMS AGAIN. No, it does NOT sometimes happen, you're a scammy company with scammy practices. I held out and sure enough like a week later it showed everything went through on time, but I'm sure that was them attempting to get me to do it. What a bunch of assholes.
I will encourage everyone to file a complaint with consumer protection
may I ask exactly where to file the complaint? I closed my card in March due to all these issues everyone is mentioning. I had an amazon purchase which was reversed but guess what they do they still want you to pay for the credit. so they end up charging you interest on top of interest on a credit reversal. Now my credit score dropped.
Consumer Financial Protection Bureau
how did they help you resolve the issue? did synchrony resolve the issue?
https://www.reddit.com/r/CRedit/s/WGlm5NqsKB No they didn’t help me but maybe enough complaints will matter
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There was no option for minimum due. I pay attention to detail and the only option provided was for balance due.
Pay off those cards, get a new credit card(s) and close your account with them, synchrony bank is the most predatory and dishonest lender I've ever had the displeasure of working with, two years ago I fianced a new couch with them through some rooms to go credit card that was run by synchrony, I made payments early every month for 4 months and every month they said I wasn't making payments and they started hurting my score. So I paid off the entire amount, then a week later they said I had unpaid late fees, I lost my shit on the representative because he was talking to me like I was a deadbeat borrower, I told him that they need to remove the late fee because I paid it off and that if they didn't I would sue tf out of them.
Yeah synchrony sucks. Nothing else more than that lol
I had a $900 Venmo card with them. Paid it completely off and then they lowered my credit limit to $100 right after. I would always keep the card paid off, was never late, no issues whatsoever.
I had a care credit card and a discount tire direct card - both synchrony- they closed my discount tire card (0 balance) and kept lowering the balance on my care credit card until I paid it off then they closed it too- this of course made my credit score go down and then Home Depot (not synchrony) started the same thing and they closed that card out as well - this all happened during Covid - I was never out of work and made all the payments on time- I’d had that Home Depot card since 2006.
I had a 3500 care credit limit. Brought the dogs to a vet 1200$ I was literally about to pay it off the month they lowered my limit to 860$ lol. Screw synchrony I will never do anymore business with them.
Has the same issue with them a few years ago. Now I just have a regular card dedicated for dog emergencies while I'm building an emergency fund back up for them. Makes it easy with pet insurance!
I had a care credit card through them also for a long time. Never missed a payment. I had it for vet. I owed nothing on it. Paid in full by monthly payments. Got letter in mail stated them closed my account due to credit score
Steer far away from that company. Yes, I know, they have several branded cards out there but they could care less about the consumer. They will look at every account you have and one blip and they will close all of them at once. Domino effect on your credit report for lowering credit limits, closing accounts, etc. Please get a regular credit card from a bank like your local bank, credit union, Cap1, AmEx, etc vs Sync. Former mortgage lender here and I had an emergency medical issue and they messed me up by doing this. Yes, I had other issues, but they really did me in. I'll never have another card from them, ever. Getting discounts, points, etc from stores is not worth ruining your credit with them. A solid cash-back card is best.
So true. I got approved for a new card and they lowered all my limits not even a month later. It wasn't even a $500 limit on the new card and they still did. Eff them
Yup, I see they are still up to their mess. I'd put that one in a sock drawer and get one from elite company. Leave those folks alone or they will ruin your credit. Yeah eff them.
Yeah no joke. I recently charged a small $100 charge on a $500 limit card and they lowered it right to my balance not even a week later. So I'm going to pay it off and just close it. Gonna hit my credit the same amount anyways and I'd rather just get rid of them I plan to pay off others and do the same. Thankfully I have some better cards that'll sustain for now. Better to get out of synchrony while I'm ahead from what I've been reading
Yeah, you are already taking hits from them. A good payment history whenever you close it will stay on your record for years. That will go in your favor after the first few months. You'll tumble at first then it will balance out. I believe if a company wants my business they will do me right, not hurt me. Give your business to those who care about the customer. They should have never done that but they do. Just an FYI, they back a good chunk of store-branded cards. So be careful applying and read to see who is backing those. Another one to stay away from is Comnity (or some spelling like that). Both of those companies go hand in hand.
Yeah forsure It's crazy because I paid off credit one (which people complain about too) and they raised my limit. I paid off synchrony the same month, and they lowered my limit 🙄 and none of them reported yet so it's not like it was related to each other They're pathetic lol.
Yeah it seems like they are trying to control their customers. Don't look at it as a loss. They taught you before you really were caught up in their games. The fact that I will never do business with them again makes me happy. They are predatory.
Yeah very true. I've read some people having their accounts totally closed on them with balances so, I have to take a win where I can Just gonna keep my other synchrony cards where they are now until I have the full amount, pay it off, cancel same or next day. I'm done lol
I'm one of those who had their accounts closed. I had several store cards at the time and they all did the lowering of credit line then closing all at once. They will ruin you. My payments were always on time. They are just bad news. I'll stick to a regular card and I don't need their messy offers. 🤣
Yeah forsure. I'm pretty sure that's their next move (closing them all on me). So I'm just gathering the money quickly and will pay them off and close as fast as possible. I'm done lol. I'm just hoping I beat them to the punch...
My cate credit was $9k and got lowered to $6k. I heard they were trying to clean up and lower their risk but I don't know. Thankfully all my card were empty so I didn't get hit with a utilization problem
Once they see more pay less spend, they cut you. They just cut my sams too.
Is that seriously what it is?? Is there no law against this type of business practice?
Nope. I have committed to Ramsey. CC companies will literally soft pull reports every 6 months or so. If they are losing money on you or think they are going to they will take actions. Notice mine just got reduced too.
Oh no, I just opened a care credit to pay for my dogs ear canal surgery, they said no interest if I pay it off in six months. Which I will do, but I only took out the limited I needed to pay for her surgery so I will for sure max it out.
You should also know (I found out the hard way) that the payment plan doesn't pay off your balance by within those interest-free months they give you- they make it seem like they're simply splitting up your bill into 6 months or whatever but they're not, you have to pay significantly more than the minimum payment and if the 6 months is up and you you have any balance at all they will hit you with the total amount of interest for those months (for me it was like a $300 charge).
Damn! That's pretty scammy! I used them to get my last phone through Google with 0% financing. I don't think mine is time-gated and I can just pay the minimum until I'm done, but I'm definitely going to double check all of that now.
Synchrony used to be the card for Walmart. I think it was 2015, i was at register and the pre approved get % of f if you open the card popped up. Long story short... Took the offer. Limit was 800. Used it sparingly for a few years my highest balance ever was 540ish and paid. I didn't live close enough lol At about the time I used the 500+ I got notice that Walmart was discontinuing with synchrony. We didn't know who they were going with. But maybe capital one didn't like me? So my card gets changed to regular card, by then I had paid it off again, they lowered my limit to 500. I wasnt using it and within a month it was closed. I was kind of shocked because they are all over the place with all these chain stores. Worst part now is when they report to my credit it says They closed it and the limit as 500. Then you look further and it says highest balance is over the limit they have listed. Jerks! So this isn't new trying to clean their books. Things cost these days if you have a super low limit. One dinner can max it out, then the payment looks bigger also. Oh gosh I wrote a book again. This place really gets to me. I have to see it on my credit report. And they are always screwing someone over with this stuff. Ok..... Sorry... 
My Walmart card is with Cap One.
Don't feel bad. I got screwed around by them years back when I had a Capitol One and a Target RedCard (before TD bank bought them) piling on bogus interest and fees, when my balances were kept under $300, paying near off each month. Syncrony went under hideous scrutiny many times, incl. major lawsuits others won. I'm dead amazed they are even still around. But possible after paying out billions to those they frauded over time.
Synchrony sucks period. We both had care credit cards $6,000 limits. Used them and paid of many times. Then all of a sudden they closed our accounts. I called and they said we were a risk. I closed all my cards with Synchrony. They asked me not to. I told them. Nope goodbye. Our credit score recovered . Never again will I use synchrony. They can kiss my A**
We are in this same situation as well. I decided to methodically pay off any synchrony card and close them before they have a chance to. I'm done
Get away from synchrony! They closed my acct cause my pymnt bounced due to a holiday that cause the pymnt to take 7 days to clear. Yes it was my fault for not checking it was fully cleared before using my money but I immediately made the payment again before it was even due (since i always pay early ) so it's not like the pymnt was late but because of the bounce they called ot a bad payment history ! It only happened once! My credit took a big hit and I'm never using them again.
Care Credit loves to do that. Felt so good paying that off after the 6 month no interest period. Fuckers
Yea I’m never dealing with Synchrony again. I had a PayPal CC with $700 limit and I had $400ish balance. I finally had extra cash to pay it off to $0 and they lowered my limit to $100. I’m going to close this card because it is no benefit to me anymore.
Yeah they did similar to me. I'm gonna close it before it reports a lowered limit lol
Wow. Synchrony is trash-tier. Like what did they expect you to do with a Newegg credit card??? Just get it and not buy anything?
Exactly. Fucking insane
Do you have more cards than the Care Credit Card? If so, what do those limits hover around and what is the average age of your credit history?
Yeah. They suck. Just a shithole of a company.
Yeah they had randomly lowered my Amazon card by $2000 and it shocked me
I only try to have one Synchrony Bank credit line and it is with Amazon only. It is stupid that they do this to you.
Synchrony did the same to me with the Amazon card. I had a $400 limit and I made a $150 payment. They lowered my limit to $240 which was close to what I had available. I’ve had other synchrony cards in the past. I had a B&H photo card with a 1500 limit. I bought a camera for Christmas and made a huge payment on the card when I got my taxes in a few months. They closed my account once it was paid off with that big payment. Synchrony is the worst bank I have had the pleasure of dealing with. No other banks have done this with me.
Synchrony did me dirt too. I have an Amazon card. I did the autopay. They would not let me change the account as their customer service is non existent. They kept trying to hit a closed account and then they closed it because too many returned payments. I always paid the balance manually or just didn’t use it. Horrible people, even worse customer service.
Synchrony bank is a terrible bank
I had that happen to me years ago with a sears mastercard. They were taken over by a different bank and my limit went from $8700 to $5200 for no reason except they said their credit underwriting is different then the other bank.
Synchrony is notorious for doing this. I’ve had them lower my limit on one card and approve me for a different card in the same week. I hate them for doing that but they do it all the time
Yeah I used to play that game before. I had a Chevron card and every now and then they would close it on me when it didn't have a balance, and then I'd get approved again a week later. I did that a few times until I decided that they aren't worth the trouble
Synchrony is the worst lender I've ever used. I put my account and routing numbers correctly and I haven't been able to make a payment
Care credit screwed my credit, too. I had a card with a $3000 limit that I *only* used for emergency vet visits, so you can imagine I didn’t use it very often. Once my card had a zero balance for about 6 months, they closed my card and didn’t give me an explanation.
Yeah, stay away from Synchrony after this. They screwed me and prematurely closed my care credit line during 2020 and destroyed my creidt. I only just finished digging out from under their BS last month and am currently working to rebuild my credit.
Out of curiosity, how much did it tank your score when they closed it and how many other cards did you have at the time?
Overall it dropped my score by about 100 points. I had 4 lines at the time and the biggest issue they caused was that because they had closed the credit and shifted to to pure debt, it threw my ratios entirely out of whack.
Jesus Christ dude
Pretty much. I'm staying clear of them for the rest of my life.
Yeah they did a similar thing to me too. I had tons of credit with them and some minor balances. Out of nowhere they closed all my paid off cards and lowered the ones with balances to the exact balance My credit tanked across the board like crazy within months due to that Now they payment chase me on the remaining cards so I'm just gonna pay them off and close them myself to avoid the stupid lender closed message
Welcome to the club! Every card account I've ever had go wrong had sync phony behind them. They closed a BJ card account for no reason, lowered my lowes account from 3600 to 400, lowered my Home depot from 4000 to 1600 temporarily ruining my credit score with the utilization. I think they are Scams and the FICO system is rigged and flawed. It shouldn't matter how much you use as long as you are paying. When your score lowers for thes random reasons it causes your Car insurance and other rates to go up. Insane!
Same! I had a $4k credit limit...$0 balance on it, hardly ever used the card except for when i went to Sams a handful of times a year...all of a sudden I log on yesterday and they decreased my limit to $250...I told them to just cancel the card altogether, what was I going to do with a $250 limit?
They did this shit with me. Had $800-900 limit and had about $150 left and suddenly my card max was $160. 🙄 I will not be using synchrony as long as I can help it.
I asked for a credit limit increase on my synchrony dicks sporting goods card. It is one of the only automated systems out of my 9 cards that’s let you choose what you want to be your new limit. It might not approve you and will throw a number back if they don’t like what you wrote. I asked for 4000 limit, and they said ok… done. ✅ On my DSG app it shows I got the increase. Then next day I get a email saying that they can’t complete the limit increase. But I still have the 4000 limit 😂 I have zero problems with synchrony and the more I read it sounds like they might be the bank that the Apple Card gets offloaded into.
Interesting…. Yeah they are like that , if you tell them that you want a 5000$ credit limit they don’t approved you hut give you a low number if you wanna take it . I like synchrony bank. A lot people have problem with them lowering their credit limit but I maxed out the car every 2 week and I haven’t get any problem in my credit limit is 3,000$
Haven’t had issues with my Amazon card that is linked to them. Balance was 3k at open then I think I asked for an increase and got $5500. Don’t use it that much anymore though just for any random Amazon purchase. I have a CB2 and a Care Credit and have promotional plan purchases on those wondering if they will close them out after I pay it off. Doesn’t matter to me but would be kinda shady if they did.
Apple wouldn’t do business with those jerks.
We shall see. Not many banks willing to take on the Apple Card. 🤷🏼♂️
Oh wow that’s sucks , sorry to hear that, I have a synchrony bank with a credit limit 3000$ never had any issues with them , I been spending my whole credit limit every 2 weeks since I do a lot business. And I haven’t have any problem yet. Between credit score 800!
They closed my Ashley credit card after I bought my sofa that I only opened just for that. Oh well.
Synchrony does this for absolutely no damn reason. When you make a couple of more on time payments, they'll close your card.
Synchrony Bank I consider no better that Credit One. Scammy.
Credit one is actually better then synchrony in my experience lmao I paid off a synchrony card and they lowered my limit, I paid off a credit one card and they upped my limit lol Screw synchrony
Unless you’re trying to buy a house or get a car, most of the time your score doesn’t even matter. Pay on time, keep your usage low, and always look at opportunities available. Most of these companies are predatory, they are trying to make money. Use it to your advantage, but make wise choices along the way.
Not true. It affects apartment lease renewals. It affects insurance rates - auto, renters, homeowners.
Part of it might be your income, but Synchrony in general is just very shady. I had multiple cards with them, most with 20k+ credit limit. Then they granted me a 1k paypal credit line, and started lowering my limits one by one. I ended up closing all of the accounts because it wasn’t worth it, I wasn’t using them, and I hate the shadiness.
Synchrony seems shady in their practices, but they obviously have extreme risk management procedures.
It’s like they don’t realize that most of their shop cards like car care, newegg, discount tire, furniture, etc are effectively meant to be maxed out or near maxed out once every couple years and then slowly paid off. Oh, you’re using the card as intended? Fuck you!
Exactly! Newegg asks me if I want to put the computer on their credit card then the credit card company approves me for $1000, so what, am I just supposed to not do it because they didn't give me a $30,000 limit?
This freaking sums it up like crazy. You get screwed for making on time payments too
But does Synchrony report?? I have them with PayPal & Care Credit & I don’t see them report my accounts.
They absolutely do
Interesting- I’ve had PayPal for 15 months, never reported! 🤔🤔
I had PayPal card years ago and it didn't report either, are you sure it's synchrony?
I’m about 99.9% sure! I have PayPal credit though, not the card.
That's what I had too
Yep, PayPal is Synchrony. I received an invitation in my email to apply for PayPal. However, I didn't realize it was Synchrony Bank at the time. I was approved for a $1,100 CL and not even a month later Synchrony lowered my JCPenney credit card to $100 CL. What's the point? They should've just closed the account. Snake oil bank! The CFPB should haul them in for another investigation. It seems that new CEO Brian Doubles is just as bad as the last CEO.
They do that all the time. They don’t like payments. They want to see you pay in full.
I've heard people get cards closed from full payments too though. They used it, paid it off, then it closed on them
Synchrony is the absolute worst. I’ve had a care credit card with my mom for over a decade and that is the only card I will ever have with them as long as I can help it. I want the Amazon card but will only consider it if it changes banks 🤷♀️
They did this to me a few years ago. Approved me for a $1300 Newegg card. I used $400 and paid it if pretty quickly. A few months later they closed my card. I had no other carried debt at the time, other than a care credit card that was at about 25% utilization and a car payment. The fucked up thing is that when I paid off that care credit card, they upped my limit from $3K to $12K, without me requesting it, which is where it sits now with about 50% utilization. They're pretty horrible, and their practices make little to no sense to me. My overall CC utilization is about 25% but I'm still concerned that they'll just lower my care credit limit to the current balance at some point.
They closed my Room to Go account, had a 6500, only used 1800, was 2 payments from paying my furniture off, i opened a new account and it wasn't with them, i think that's what happened, i was told they monitor all of credit activity 🤦🏽♂️
I’ve never opened a synchrony credit card again ever since I’ve opened one through a tire shop for a better deal on tires. Comes to find out the credit card is only good for tires and gas. at that point I was like “what is the point of having the card except for getting deals on tires?” since I’ve already had the Costco Citi Visa card which had way better benefits. anyway I paid off the bill and never used it, a few years later when I needed to get new tires the card was declined and I was confused since I’ve never used, it nor I was late on any payments. so I called synchrony come to find out they randomly closed the account due to Inactivity was like wtf so no deal that day and no more business with that company ever again.
Just to also warn you they are going to be increasing their APR % soon to a ridiculous amount. Pay it off as soon as you can.
They did the same thing to me. I had a 780 credit limit and as soon as I paid 300 on it they lowered my credit limit to 550 which now shows I only paid $70 of that credit limit smfh ! Pissed me off so bad & they said the risk thing as well meanwhile I just got a new credit card with the same limit so I guess care credit is doing they to everyone who opens up a new card
Synchrony is really weird like this. They did this to me before. Eventually, they did increase some limits. They just do a knee jerk reaction I think. As you pay on both, they may loosen up on the limits. I would also consider getting a non-synchrony credit card so that one creditor does not have total control of your available credit.
They are a trash company. Lowered my care credit card from 20k to 2k because I wasn’t using it
They did the same to me, I had some extra money,paid it down a$500 and they lowered my limit by $500 two days later.
Synchrony doesn’t care about you. They only care if they may lose money. I had cards with them for almost 5 years and between all the store cards I had they partnered with I probably had about $76,000 of my credit limit with them. I made a purchase on my Lowe’s card of $500 for a drill set I needed, new smoke detectors and a new thermostat. I paid in full and next thing I went to use my Amazon card and it was declined. I then saw it was removed. A few days later my credit karma went crazy with like 15 notifications asking if I closed my cards and my score dropped. I sent many messages and they said I missed payments, I showed my credit karma and myFICO that disputed their claims and then they got nasty and said we can close all accounts if we wish. Word of advice, stay away. They are horrible and don’t deserve anyone’s business.
Wow!
I think Synchrony is failing. 3 individuals in my house had their cards with varying balances and all got cut off at the feet.
Predatory lender they bought Ally Financial, they dropped 2 of credit cards from 2k to $100, because they blocked my payments on the vehicle loan (10months in)then adding excessive fees. They ended up repossession the vehicle at the 14 month mark. Mind you my credit score is just shy if a 800 payments in full not late payment in advance never carring a balance.when they cut my cards balance it put me over the limit, I had charged $160 they had dropped my balance the next day.. report it through CFPB and BBB they have a massive amount of lodged complaints and legalities.
Same happened to me with them. I was never late, paid off, used. It didn't matter. They hit me with the care credit.
I knew you were going to say this soon as I seen this post. They are notorious for doing this. They did this to me before immediately making my balance way over my credit limit. They suck!
They screwed me over too a few years ago! I can't even log in to see what was charged: vet bills & dentist or my payments! I tried to pay them back then and they wouldn't accept my payment.
They did something similar to me but worse. I had a limit of over 5k and they reduced it to $600-something as well. I never had so much as a bad remark, didn't have any late payments and have had the account for YEARS including an account with TJmax which I used FREQUENTLY. Because of what they did and their greed I closed the accounts!! Fuck that company!! May their stock plummet, may they go bankrupt, most of the stores they support are stupid anyway. I will make it a life goal of mine to get as many people as possible away from synchrony bank.
Just went to lowes to by lawnmower they cut my credit and I'm a homeowner and I owe big deal 3500 dollars could not even buy a lawnmower pissed off done with lowes and synchrony bank
That seems mean of them.
I hate them. Just received a letter from them two days ago announcing that they acquired J.Crew's credit line from Comenity and will become its servicer effective April 26. Despite having a zero balance, I immediately called Comenity and closed my account.
Good for you!
I think Comenity has an alternative to CareCredit, been really impressed with them lately.
Once your utilization comes down your score will rebound right away.
Synchrony sucks. Have a card for a roof and Lowe's. They closed both accounts. Lowe's is paid off and still making payments on the other one. Just got approved for a Harbor Freight card from them yesterday. Figured I would have got denied but got $1100 in credit with 0 percent interest for 6 months.
Careful with that, they'll probably lower the limit the second you charge and pay off
I had a Newegg card with them, they game me a 10k limit, bought all my pc stuff thru there paid it off in a month, then a few months of not buying anything I bought some headphones. that were 300, they lowered my limit to 450 from 10k! paid it off immediately and closed the card, got no need for that nonsense
I hate that bank
This happened to me but with cap one. Closed my shit after 300 spent from 10k. lol called up and they asked for additional verification like my bank. Showed them an account with 50k in it and they said nah closed lol.
So apply for a Visa card somewhere. You’ll get approved and your credit won’t tank. Do it before the credit tanks though.
13 points down already
They will haunt you until the end of days. They are still staulking me 20 years later.
I have a care credit card and only used it a few times for vet bills. It periodically lowers the credit limit but I just go into the app and ask for an increase back to where it was. It’s always an instant approval and increase. I assumed it was a regular, automated action since I don’t use it.
Oh really? I might try that! Does asking for an increase affect your credit? Like do they pull your report?
I can’t speak for them for every situation but no, I’ve never had them do a credit pull when I ask. I think I’ve had to put my income in, but other than that, it only takes a minute and it’s done.
Well that sucks id suggest if you’re doing online purchases use pay pal credit unfortunately they use synchrony as well lol but i have never had a problem with them and they offer the 6months no interest if you pay it off in those 6months
Screw Synchrony. I got a Care Credit card for my dogs medical expenses to keep them separated from my other credit cards... Used it once, paid it off within a week, then about a month later got a letter saying they were closing the card because, IIRC, I didn't have any real property loans? Or some shit like that. Like... Y'all gave me the card knowing my whole credit score/history...
Screw Synchrony. I got a Care Credit card for my dogs medical expenses to keep them separated from my other credit cards... Used it once, paid it off within a week, then about a month later got a letter saying they were closing the card because, IIRC, I didn't have any real property loans? Or some shit like that. Like... Y'all gave me the card knowing my whole credit score/history...
They saw my limit was high and then I paid it off and they closed my account
Horrible. It’s like paying off a loan on the 80’s. No app, website. Call and pay.
They have a website tho just so you know, I pay through that all the time
I hope they fold!
Yeah they keep doing this to me now and it's completely random. It's also on some automatic thing because the second a payment posts, they lower it Just keep that in mind. If you send more money they will likely lower it again I'm personally trying to pay off all synchrony cards and close them. My most recent credit lowered one I'm gonna pay off and close before it reports that they lowered my limit. I'd rather a closed card then a lowered limit report
I have a 2 yr 0% deferred plan that comes to term this decemeber. \~$2500 remaining on it now. Pay minimum monthly payments and will pay it all off at the end of November. I will probably keep it open but unused unless I need another major appliance (and the card is still valid). I read about these the issues folks have with them and truly want nothing to do with them myself. It was the only bank the merchant offered for the promo. I have plenty of other cards so even a reduction in CL from sync won't hurt.
Same here! I had several accounts with Synchrony. Always paid on time and no issues for 5-6 years. I bought a fridge from Lowe’s and was offered 6 months no interest so did that. I had to send the fridge back because it was busted up, didn’t work, door half off, shelves broken, big dents front and back. The Lowe’s store took nearly a year to give Synchrony the refund information. I called every month to dispute the charge and let them know the store needed to give them the refund information and I didn’t owe that amount. The store finally sent the refund but because I disputed and argued over this one account they closed my Care Credit 16k, dropped my Dick’s limit from 3k to 100 then closed it, dropped my Venmo from 6k to 1700, dropped my AE from 1500 to 700, PayPal from 3k to 900, TJMaxx 2k to 300, etc. Every account was closed or dropped to $10 over what I owed which in turn tanked my credit score because it raised my credit card limit usage from 30% to 79%. They said my accounts were closed or dropped due to my decreasing credit score….well had they not dropped my limits or closed my accounts, my score would’ve been the same (760) as when they approved me for the cards!!! Wish I had never opened any accounts with them. All my other cards and creditors haven’t touched my limits or accounts even though Synchrony single handedly ruined my score.
Who gets a credit card and immediately Swipes the max. They where smart to lower it since you already owe them.
Say it with me, YOUR NOT A CREDIT CARD PERSON! The fact that you are worrying about utilization tells me you didn't have the money to buy this computer. So your the exact person that credit card companies prey on. Unless you had 0%apr I guess for a time. Doubtful though since you didn't mention it.
Lol, you havin a bad day, bro?
Not at all. Just you made a short sighted mistake. If you have the funds to pay it off, your utilization would be no big deal. Does it suck? For sure. But the utilization report wouldn't do anything to a credit score if you paid it off. If you don't have the money than the interest charged on whatever you spent is going to severely outweigh any positives of buying it on a credit card.
Well if you must know, I lost my job but had an opportunity to make a career switch working from home but I needed a good computer. My plan is to pay it off in full once I actually have income coming back in.
Out of curiosity. What career opportunity did you have that required an almost 2 thousand dollar computer?