- Report: #1453182
Complaint Review: Synchrony Bank -
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Synchrony Bank
United States
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Synchrony Bank Inconsiderate Practices
We applied for a Jennifer Convertibles credit card last year, but didn’t plan to use it until now. Without notice you closed our card due to inactivity. The customer service rep told me that you are here to make money and that it's not illegal to close my account without notice. Duh! I have other credit cards with you, so you MAKE MONEY OFF ME! AND you would've made more since we’re shopping for a new bedroom set now. But you didn’t give me the courtesy of an email, so I didn’t get a chance to tell you. Wow!
It's not illegal so it’s okay? What about customer service? Our credit score went down because closing the card changed our utilization ratio. But you don't care about that. Your rep's lack of concern for situation is unacceptable. Your practices negatively impact people who otherwise don’t have the means to make large purchases. It shouldn't matter whether it is "legal.” It’s inconsiderate and unfair.
2 Updates & Rebuttals
Robert
Irvine,California,
United States
Entitled Much?
#2Consumer Comment
Wed, July 25, 2018
You seem to have some very odd entitlement attitudes about credit. First of all they own the account and can close your account out at any time or for any reason. They are under no obligation to notify you in advance. They are not your friend, they are not some buddy, they are a business. By your logic if a company was so worried about their actions lowering someone's score I guess things like late payments or even delinquent accounts should not be noted. After all everyone who makes a late payment has some valid reason why they are late and a company should just understand...right?
You may think this is unfair but it is what you agreed to when you got the card. But even if they did tell you in advance there was no guarantee that just talking to them would have enabled you to keep it open indefinitely or even a few more weeks.
As for the card you don't create a budget based on how much credit someone gives you, you create a budget based on what YOU can afford. Yes I did read your other post and the "budget" reason you gave isn't really believable. It is more likely you obtained this card because you knew this "unused" credit line would make your overall utilization look better. There is no logical reason to get a store credit card 1-2 years in advance of making a purchase.
Yes closing your account could cause your credit score to go down, but if the rest of your "credit house" is in order the affect would be minimal. If you have a solid credit history a few point drop is meaningless and should not affect your buying power. If your house isn't exactly in order then taking on new credit is probably not the best idea.
What do I mean by having your house in order..in basic terms showing proper account management. Well for example if you have 3 credit cards all with 20% utilization, closing 1 does not change the percentage of utilization unless one was significantly higher. The only way your score would be affected to a greater extent is if this "unused" card was making up for heavier usage on other cards. Your credit health is not how you look overall but individually. Even if your overall utilization was 5%, if one of the cards are maxed out at 95% that is seen as a negative.
By the way, if you got approved before, why not just get approved again? If your credit profile has stayed the same you would probably be able to have it opened up. Unless of course your profile has not stayed the same and since you opened that account you took on additional debt again using this card as your "buffer".
Good Luck
Perry Mason
United StatesFirst Of All...
#3Consumer Comment
Tue, July 24, 2018
If you READ the information on this website, you will see this is NOT the website of the bank in question! As such, nobody here cancelled the card! Secondly, if you would have READ the card holder agreement, you would have seen the card is owned by them and they can cancel the card at any time and for inactivity.
