Thus, synchrony abruptly closed one of my accounts with them. I applied, was accepted, and used the money to purchase a mattress. My account has been open for precisely a year at this point. I never missed a payment, therefore the mattress is halfway paid for, so I’m not sure why they would do that. Is it because since I bought the mattress, I haven’t utilised it?
People get that way from synchrony all the time! Check them out on the Better Business Bureau website or read the comments on their Facebook page. They come in handy if you need to purchase something on a zero-interest plan, but they normally terminate your account as soon as you finish making payments. My Care Credit card credit limit was recently reduced since they claimed I didn’t own a home. Since 2003, I have both owned and resided in my home. It has yielded results. They seem like a type of sketchy firm to me.
Both of our guesses are valid. Having reviewed r/creditcards and looked up Synchrony, they do, however, close accounts for no apparent reason.
That they kind of messed up and did that is really strange. I was going to give them a call, but since I’m at work, I’ll just have to wait and see what happens.
Synchrony has been pretty frustrating. I have both a Mavis auto card and a Harbor Freight card through them, and I’ve never missed a payment. I paid off the Mavis card, but out of nowhere, they canceled it because they claimed my FICO score dropped by 40 points. They also reduced my Harbor Freight credit limit by about 25%. However, my FICO score has been improving, and other credit card companies report it’s actually 40 points higher than what Synchrony said. It seems like they’re trying to limit their risk, but doing so to reliable customers isn’t the best way for them to do business. I’m now avoiding them whenever possible.
When I tried to use my Walgreens card in an emergency, they closed it without telling me. Fortunately, I had cash with me, but I was attempting to take advantage of the card’s discounts. They are a terrible business, and Comenity Bank is no better.
They also treated me the same way. After receiving perfect payments for two years, it was abruptly closed. Simply settle the debt and don’t use their services ever again. Ignore those bastards.
Steer clear of synchrony. Even when you make your payments on time, they have a reputation for shutting accounts, decreasing credit limits, and negatively affecting people’s credit ratings. They continue to send further pre-approved bids after that. Regretfully, they have a stronghold over numerous companies that provide their own credit card.