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I had four accounts with Synchrony Bank. CareCredit, Ashley Furniture and a Sports Card and a card for an electronics provider. Initially, the card for the electronics was closed. I had actually never used this card, the limit was low ($1000) and I did not think much about it as I figured it was lack of use. HOWEVER, the Care Credit card came next! This credit account had initially been over $20k, was paid in full EARLY, with ZERO missed or late payments, and I have had the credit line for literally YEARS. After several years, the credit limit was dropped to $10k, as it had not been used. This was fine, it stayed that way for a long time and I figured if I needed it I would just apply for whatever amount over I needed. Then out of no where Synchrony closed the card with no notice or any valid reasoning. I eventually got a very disrespectful letter apprising me of the account closure, complained that the information included in the letter was both inaccurate and offensive... with no response at all. Next, The Sports Card was closed. Again, 100% on time payments, paid off early, $5k limit. Next, the Ashley card, again 100% on time payments, paid off early, $8k limit. Though my credit report CLEARLY SHOWS I have a 100% on time payment record on ALL of my accounts for years, with each account closure my credit rating dropped more and more... until now I am in the mid-low 600s! This is NOT due to any action of mine, this is specifically due to the available amount of credit decreasing rapidly. Within a few weeks! We are in the middle of a pandemic, and I have had to assist more than one family member by some financial means, which I have, out of necessity, done through other credit. The balances of open credit provided by Synchrony allowed me to do this without a severe impact on my credit standing, and being 100% forthcoming, my credit rating was still "good" when the initial closure of Care Credit was done. Then begins the spiral downward of my credit rating, 100% due to Synchrony deciding to close accounts I had maintained in good faith and honor. Each closure dropped my credit score, and not only had a severe impact on my credit rating, but in doing so severely diminished my options moving forward. This is how your company treats loyal and valuable paying customers? In the middle of a Pandemic when the impact is greatest? These practices are unfair and unethical, AT BEST. NOW, were I to simply "reapply" for any of these credit lines... I WOULD BE DENIED due to the higher credit score requirements I am aware are held by Synchrony to extend credit in the first place... yet it was the closing of these accounts (SOLELY) that affected my score! This is NOT a typical "risk management" decision, this is a deliberate and premeditated action on the part of Synchrony, which becomes even more clear as I look online and see the sheer VOLUME of other people this has been perpetrated upon.
Same exact issues. I was excited to be able to pay off my table that I paid on time and zero interest only to find they took my credit limit from $2k down to $250. WTF is this? And Rooms to Go...I owe $550. Had a $3200 CL and every few months they reduce my limit. Went from $1200 now to $780. They just closed my Ashley Furniture and Care Credit and I have never been late or missed a payment with them or any other creditor. Just relied on some cards heavier during the last 12 months.
I wish there was another alternative. Comenity Bank keeps raising my limits and this [censored] company keeps closing accounts.
So over them.
Same here. I had 7 cards from them. Lowes had 10k limit care credit had 8500 and car care had 10k also. Had the cards for YEARS and never had a late payment everrrrr. First the cut the available credit to right around the balance amount I had so now the cards showed up on credit report as maxed out and my credit scores took a beating. Now they have closed have the accounts for no reason and no notice. Synchrony bank SUCKS PLEASE NEVER USE THIS BANK BECAUSE THEY HAVE ZERO CUSTOMER LOYALTY! I wish I could grab the head of this bank and teach them a lesson.
Today they closed all my accounts 9 to be exact all low balances some zero balance. now what ? I don't understand why unless they are going bankrupt. That's the only answer I can come up with. Im more than P... off.
Same thing happened to me! Good standing and paying customer - closed!
Same! I was wondering why? Now it makes sense! Karma will bite 'em
Synchrony Bank is a FRAUD ! Just closed 10 of our accounts for no reason. All in excellent standings. How is this ethical and legal. TO RUIN my 840 score and 500k of income. NO Late payments in 20 years...There has to be a solution from the 3 major credit agencies to address this. Class action suit will follow.
This just happened to me while buying a home!
I was thinking class action lawsuit. They did the same thing to me and my credit score has tanked because of their actions. All payments made on time to my accounts!
All my Synchrony accounts have been close and they had little to no balance on them. No reason has been given and the customer service agents can't see any reason why. I have been with Synchrony for 7 years and never missed a payment. Now I have 7 closed accounts at once, it has ruined my credit. If there is a law suit please let us know.
Synchrony bank has chose to abruptly close my accounts totaling $68,000 some cards have less than 10% revolving I have never missed a payment with synchrony bank in the 22 years that I have had Credit with them. All of a sudden their customer service is telling me they cannot give me a valid reason for closing my account but that I’m able to reapply but would be subjected to a lesser approval amount only dependent upon a high credit score. Since closing my accounts I lost $68,000 in revolving credit and my credit score has went from an 808 down to a 610 because of synchrony bank and no other reason. I have not used my credit I have not applied for credit I have two vehicle loans and two mortgages I make eight times the amount of money to pay for those with stellar credit and synchrony Bank decided to be manipulative intentionally to me personally.
syrony basnk closed my account im in good standing admitted this in a letter cant activate my card
Horrible company! Had accounts with See Eyewear, Baers, Rooms to Go, City Furniture. Not 1 late payment EVER, Synchrony closed the accounts and dropped cr limit to $250 with City Furniture. The reason given is they said I have no real estate and have collections. I own a home and have 0 collections! Do not open ANY accounts with this company my score is tanking due to this.
Yep, they closed my accounts because I have a mortgage that has not been fully paid and I have had the mortgage for just a year and a half and is in great status, also because I have other credit cards but also in great status all being paid up to date, the strange thing is that they approved me a "car care" credit card for $800 but they are canceling a Pandora credit card that I only owed $37 and paid it off on time. Makes no sense.
Synchrony Bank just closed my account, which was paid in full and on time. I have two other accounts with them, and I am sure from what I have read from others that they will eventually close my other accounts, causing a severe impact on my credit score. What can we do about this?
October 20 23 synchrony, bank, close, 20 of my credit cards without any warning I have excellent credit they try to blame it on Trans Union credit bureau. As I stated, my credit is excellent, and they cannot give me a reason why they have closed my accounts, other than indicative. I am not at risk I’m not paying or falling behind. I think it’s a joke what they have done and it’s wrong and they shouldn’t get away with it. I just open a couple accounts they have giving me credit increase and they gonna snatch it from me taking down my credit, which took me a long time to build up, as Trans Union said this is unheard of and I agree, something need to be done. They can’t continue to do this to us.
I just paid off the synchrony account in full on 26May2022...A letter was processed on 24June2022 telling me that they decided to close my account through Ashley furniture - never missed a payment ... I told the repasentive that I was bout to use it again / my daughter just graduated high school and I was gone use it for her and the rep told me that it wouldnt close by November of this year... I can only imagine the impact by next credit reporting...😑🥃🚬
This happened to me today. They also kept my rewards
This just happened to me today . 54,000 dollars in credit . 20 of it was care credit which I used for my daughter and dogs . 2/3 of my credit taken away for no reason at all zero explanation. Never missed a payment. What can be done ? Seems like I'm not the only one whose credit they are destroying. I worked very hard to get where I am and corporate banks can push one button and destroy it ...class action anyone? Can we ? What's the next step? This seems crazy to me !
This just happened to me. I’ve paid them every month faithfully. I would love to be part of this class action suit.
Me. My account was closed on 7/28/2022 ! Paid ontime every month, if not early. This is abuse of power.
Synchrony Bank - Account Closed - Unacceptable
My Synchrony CC with Pep Boys was closed 7/30/2022. I've never made a late payment on this account or any others.
The explanation letter provided stated my credit worthiness did not meet the characteristics of their desired criteria. This seems to be discriminatory - considering I have no late payments on any accounts.
Additionally, my credit worthiness (score) was similar to my score during the approval of this CC in 2019.
It seems with the current economic climate; Synchrony Bank is using this period as a time to tighten their ability to extend credit to any borrowers who they deem "risky".
However, this should be a tactic used for "new applicants" - not existing card holders who have spent years to build history.
This is unacceptable and further legal action will be pursued.
Desired outcome: RE-OPEN MY ACCOUNT. LEGAL ACTION AGAINST CREDITOR
I just found out today they closed my Synchrony Home account on [protected] because my credit score isn't where they want it! My account was in good standing and up to date on payments. I received no notification or chance to dispute and now its going to affect my credit score negatively. How can we start a class action lawsuit?
I have been trying for months to figure out what is happening with them and WHY they are doing this. They seem to be strategically lowering my limits first, then a month or two later completely closing the account. They have done that over the last year with 4 different accounts. Mine too began with my Care Credit account. My limit was only $500, as I only used it once a year for my glasses and payed it off almost immediately. So at the time it was closed, there was ZERO balance and hadn't been since the year prior. When I called I was told it was because they ran my credit and my score had dropped and said it had nothing to do with not using the card...then in a few months, my Rooms to Go limit dropped to BELOW my current balance, so it looked like I was over my limit...then they closed it...then same thing with my Synchrony Home account and most recently with my At Home Store card...just this week. Rooms to Go and Synchrony Home were the only two that even HAD a balance on them at the time they closed the account. I too want in on a class action as Synchrony is now singularly responsible for a 100 point DECLINE in my credit score taking me from Good to FAIR credit. It seems that they are purposely targeting people who are trying to rebuild their credit and it's disgusting.
Same here. Almost exactly what happened to me. WHAT CAN WE DO?!
I would like to join on that class action suit as well, since they closed my accounts as well, and they were in good standing! Disgusting Socialist behavior from this bank!
This is literally capitalist behavior
There was a very lengthy thread about this on one of the credit card forums. A lot of people got hit with this, including me.
One of my many accounts that they closed for no reason is Midas. Midas just recently went over to Comenity Bank. I reapplied and got approved.
They reduced my limit on my Belk card to $250 solely because I made a $75 purchase. Just because I made a small purchase, they decided to meddle and do a credit check.
Same thing just happened to me.
This happened to me, found out today. Barely had a chance to make 2-3 months worth of payments and they closed it. I haven't used my card in several months and was just paying the amount due.
OMG . This happened to me today as well. Same thing no late payments just closed my account out of the blue. Which will have an effect on my utilization and credit history length. What can we do about this ?
Any class action lawsuit update? This happened to me today and I am fuming. Closed it when my cat is the sickest he’s ever been, and when we are house hunting. They completely [censored]ed us. I went ahead and closed my amazon card because I will never give another cent to these corrupt [censored].
I’ve contacted Ben Crump’s office and linked this thread. If anyone else has any leads on what to do to start a class action lawsuit please let me know. It’s not enough for these companies to get a slap on the wrist/small fines that don’t even come close to paying back the amounts they’ve screwed out of us everyday people. They need to be deterred from being this corrupt ever again.
They did the same to me. I had almost $50,000 in credit with all my cards with only $400 charged to one card. Without notice they closed every account and calling them you get no answers at all. Imagine the hot my credit score took. My family has said all alone I should sue them. They had just sent a Texaco Master Card barely 2 weeks prior to spamming all my accounts. I never used it the first time before they closed it and ask others. I would love to see a class action against them!
You must arbitrate claims with Synchrony Bank the cardholder agreement has an arbitration clause that says no class action
Yes please add me to the list. They just recently closed and lowered my credit accounts. My credit score has suffered. As long as I’m making payments on time they should not forcibly close my accounts. I am angry! I worked to build my credit now this! They should not have a monopoly over store credit cards. It’s unfair and I believe unlawful! Thank you! Cindy
You can change the terms of agreement. If they don’t respond then they agree to the new terms and conditions. They do it to us all the time.
closed my account cant reopen even though they claim error
I think it’s become clear that Synchrony is in financial trouble… Before the Great Recession a couple of other companies did the same thing to try to reduce losses, and they nearly put themselves out of business. This bank is behaving like a bank in distress… Everyone needs to spread this information all over social media, warn people and companies like RTG that their partner in credit is in trouble..
2 accounts slowly lowered my limit. Then closed my accounts. No missed payments never charged over 30% of the limit always payed promos off way before they were supposed to be. Absolutely killed my credit. Took me 8 years to get my credit right and good. Only to be toppled in less that 6 months.
Well, similar to me I guess. Mine is self-inflicted is what they'd say. I've had 3 returned payments (that were early and corrected payments were made before the due date, so they weren't late), from an Amazon Card account. $1.4k in rewards gone with it unfortunately. But they closed that account as well as other accounts this morning, all in good standing. Nothing late, although, I can see why they'd want to close my accounts-- making too much off their rewards and not letting them earn any fees. Kind of a piss poor move by them.
So they just got me also, On 10/31 they closed my $10,000 RTG account. I had a zero balance and never late. I called and they gave me the BS about I haven’t used it in a year. Who buys furniture every year?
My daughter graduates college next year and I was going to use it to help furnish her first apartment
They also lowered the limit on Amazon Prime account a couple of months ago, which made it seem like I was at my max. This is just incredible that one bank can kill your credit in one stroke.
Same thing done to me. Had 6k for Rooms to Go after paying off dining room table. Was going to purchase bedroom set next month but got letter saying they re-evaluate my credit and are canceling me. I still have a care credit and Ashley card and wondering if they would cancel those too.
They canceled my RTG I also still have care credit and JCP. Hopefully they don't cancel those because just them canceling RTG has dropped my credit score tremendously.
I just sent online to pay one of my accounts and noticed they closed my account too! We should all get together for a class action lawsuit!
I have been dealing with their crap for a couple years now. I had them close 3 accounts with 0 balance for no reason. Then slowly one here and there and the credit line crap. They give you a decent amount to start, but when you use any of that credit line, they drop your credit line down to within dollars of your balance and that makes it look like you've maxed out your card! This in turn looks bad on your credit report. Now, after about a year of leaving me alone, they strike again! For no reason, they close an account that I've had for 9 years with not one missed or late payment! What can we do? This bank needs to pay for all the damage that they are doing to honest, hardworking people.
Yes I have experienced the exact same treatment from this terrible company called Synchrony. The past year has been awful trying to deal with simple issues that cause a person to spend literally hours upon hours on the phone with Synchrony, whatever they are. In fairness to this awful company, the phone servicing emoyees have all been very nice to deal with. It is the lousy so called management of this FINANCIAL PREDATOR CALLED SYNCHRONY. Please think twice about getting any type of financial services with synchrony.
I guess I'm another one on the list. Got surprised today when I got a note from Amazon that my payment for an order was declined. Technically impossible because I have a 10K limit and less than a 500 balance on my account.
Well, logged in to find out not only amazon, but all 8 of my Synchrony cards have been closed with no notice, no late payments ever, out of the blue.
Spoke to a rep in India (Of course), and she said the letter said I'm a high risk for repayment customer because I have too much credit available.
High Risk? Se for yourself below. I guess they need customers who can't pay so they can make fortunes in High Interest Rates. Sad Bank
Synchrony closed my PayPal credit , I only had it open for 3 weeks and only had $66 balance and they closed it without notice when I contacted support they said it was based on changes on myTU credit report but it hadn’t changed much between the past 3 weeks.
This bank was good until today Jan 3 I have a summit racing card had it for 5 years not one late payment no payment ever missed the card is not expired I still have a balance on it I went to make a payment today these jerks said my account was closed for no damn reason at all but they want me to keep paying it but I can't use the card no more I used the card alot to and payed it off everytime this is total [censored] no paper sent no email about it either I'm not very happy about this
Synchrony is UNFREAKINGBELIEVABLE! I had accounts with them on several platforms. I paid on time. I was not late. All of a sudden today I noticed they KILLED each and every card! I am traveling right now, so I am sure I will come home to a crap-ton of letters. If I or anyone else for that matter are such a "risk" first they offered the credit. Second, if a risk then LOWER the limit, throttle the customer. Don't kill in one swoop and harm someone's total profile. It is vindictive and evil. Furthermore, I truly think I was a target. I filed a complaint that I took advantage of a 0% offer a year ago that they tried to deny me. I had to fight and fight. Finally got to executive escalation who advised there was a programming error and that no one in the promotional period received the promotion rate. It took ONE YEAR of charging interest to me and to finally refund it. Coincidentally the month after that correction, ALL ACCOUNT CLOSED. I am personally going to write to each of the retailers who use Synchrony as their financial partner and URGE them to use another vendor. This bank is bad news and harmful to the merchant's customer base.
Hello, I just got the same treatment from Synchrony Bank for a fully paid account. I guess I can look forward to them closing ALL of my other store cards as well.
My synchrony home account was just closed, I make double payments and my credit score and income recently went up significantly but was good to begin with. I haven’t had a chance to call them yet but this is very confusing. Now I can’t log in either, it’s saying account not found.
Same happened to me. I paid off my Home and Rooms to Go accounts, and the R2G was dropped to $250 and the Home was simply closed. Over $15,000 in available credit dropped in 24 hours to $250. Surprise, surprise my credit score dropped because of less available credit. The whole industry is setup to profit and has little to no care for the consumers. Once there was no interest to be earned from me they shut me down.
I can totally relate I had a JCPenney card for 12-15 years I've never been late didn't have an outstanding balance out of left field It was closed, CC, also reduced significantly. No notice, no reason, just crappy people. When this company does that though the longevity of your accounts, which of course also changes other rates. Basically they are running you through the cornfield backwards and they know it. Maybe we should Class Action
JCP is through Synchrony now?!? Ohhh boy. I got a card from them again about 5 years ago. Rarely ever use it because JCP just sucks now. My credit line has never increased and I have not applied for any new credit with them or anyone recently. I guess they're gonna swipe that one, too!
Synchrony closed all three of my accounts abruptly. All three paid on time no reported large payments. Made one payment a few days late recently not in the past due reportable. My father died abruptly no insurance so money has been tight. Lots of out of pocket. Now these [censored] have ruined my score by closing three accounts. Never again.
Yes! That just happened to me. I had 10 accounts with them. This week they closed 5 accounts because:
1. Lack of real estate loan- mortgage is in my wife’s name.
2. Too many inquiries.
3. Balances in proportion to credit limits too high.
This is some real [censored]! I’ve worked so hard to rebuild my credit and have not missed 1 payment on anything! Closing my accounts because I used a credit card from another bank? Totally ridiculous! Now my credit score is tumbling because of using them! The hell with credit.
I wish you good luck my friend
This is exactly what just happened to me so I started googling. Seems like their failing or something else big going on. It is now affecting my credit score by closing most of my Synchrony Bank accounts with this BS explanation.
Just happened to me with my Care Credit Card. Always paid on time then paid off entirely a year ago. If they wanted to close my account for non-use that would be one thing but they have totally bogus reasons: real estate holding for loan not validated (it was never a real estate secured card), delinquent payments (my payment record is perfect), too many credit inquiries (actually my credit bureau accounts are locked so there can’t be inquiries), credit score (they said it’s 80 points lower than what it is). I have 3 other credit cards in good standing. So they closed my account fraudulently and without warning. Now I’ll pay for their ridiculousness with a lower credit score.
How are they still allowed to be open?!
I got those same reasons when they reduced my $2k limit to $140 after refunding a late fee on a balance of about $120. I didn't know I had to own a house to use my Amazon card now. *face palm*
Literally just happened to me out of NOWHERE paid of my Care Cred balance EARLY and I've been in good standing. All of a sudden I couldn't get my medication because my card was canceled because of my TU report according to CS. This is complete BS!
Synchrony Bank is shyt! You should be subject to huge fines for being an [censored]! Where are these companies that are supposed to monitor banks like Synchrony? They're the absolute lowest!
Synchrony bank just did that to me out of nowhere and I’m 100% in good standing with all of my creditors. This needs to be a class action lawsuit.