Synchrony Bank formally known as GE capital Shame on you Synchrony Bank orlando Florida
So i received a letter stating my account has been closed even tho i had a zero balance and a perfect payment history. The reason for my account closure was due to a negiting reporting from another comapny that was later reversed. Im pissed because the closing of the account dropped my credit score 65 points. Stay away from this credit company.
2 Updates & Rebuttals
FrazzledJazzMan
somewhereville,Tennessee,
USA
bull
#3Consumer Comment
Sun, September 10, 2017
consumers have rights to not be fleeced also. more and more companies are doing it. to the above-fu* off.
Robert
Irvine,California,
No RipOff
#3Consumer Comment
Wed, November 12, 2014
There is no RipOff here.
A Credit Card company is under no obligation to either issue you or continue to allow you to use their money. That's right it is their money they are allowing you to borrow, and they have the right to modify your credit line and even close your account out at any time and for any reason. I can guarantee you that you would not be here complaining that if they all of the sudden increased your credit line...well it works both ways.
As for your credit score, again they are not responsible for your credit report other than that what is reported is accurate. So if your credit score went down because it was closed that is not their fault nor problem.
Now, does this suck that the card was closed and your score went down..of course. But this is the nature of the credit cards and it is also what you agreed to when you opened the account. And yes this is how EVERY card works. If you don't believe me..just read any of your other credit card terms and you will see that they also have the right to close out those cards as well.