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Report: #1479402

Complaint Review: Synchrony Bank -

  • Submitted:
  • Updated:
  • Reported By: Genie — Baltimore MD United States
  • Author Not Confirmed What's this?
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  • Synchrony Bank United States

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I opened a credit card for auto repairs at Midas and it was through Synchrony.  I paid the card off but then I got a letter that they were closing my account.  Why because I had to much outstanding credit. It didn't affect their payment and none of my other creditors have sent me such letters. 

Just recently they started decreasing my Amazon account.  My limit was $1000.00 and I took it as high as $970.00.  I paid $200 to have some breathing room and before the next billing period, I received a letter that my credit limit was reduced to $770.00.  I paid it down and my new balance is $670.00.  Well, today I received a letter that my CL was reduced to $670.00.  The reason is that I have to much outstanding credit, or this or that. One specific reason would have been sufficient. However, none of this affects their payments and to top it off they are on auto pay and nothing is late and no case of insufficient funds. I'm going to pay them off as quickly as possible and I'm done with them. 

If I open a credit line and the company tells me their line is through Synchrony, I either won't buy or I'll use one of my more dedicated cards or cash.  A person should not be penalized for making good on a debt.

This report was posted on Ripoff Report on 05/26/2019 12:51 AM and is a permanent record located here: https://www.ripoffreport.com/report/synchrony-bank/decreasing-credit-line-1479402. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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#3 Consumer Comment

ailshan

AUTHOR: Robert - (United States)

POSTED: Thursday, June 06, 2019

Then you just admitted this ISN'T a RipOff...

of course it is not our own money that's why it's called credit card" duh" and that is why they give you interest "duh" and you pay the interest.
...and that is why THEY can lower the amount of THEIR money they are allowing you to borrow at any time. As you like to say "duh".

They just say blah blah blah and always pulling a credit every 6 months. I have other credit cards and none of them do the same thing as synchrony does. I hope this bank get bankrupt.
Actually most creditors will review your credit once every few months, again it is their money and they can decide if they want to take the risk..."duh".

 

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#2 General Comment

rip-off

AUTHOR: ailshan - (United States)

POSTED: Wednesday, June 05, 2019

Yes, this bank is a ripoff i got all the credit cards from different store but when the company decided to be handle with synchrony they decrease the limit and i haven't have any late payment for them, and to the author who respond, your comments doesn't make any sense,of course it is not our own money that's why it's called credit card" duh" and that is why they give you interest "duh" and you pay the interest.

They just say blah blah blah and always pulling a credit every 6 months. I have other credit cards and none of them do the same thing as synchrony does. I hope this bank get bankrupt. 

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#1 Consumer Comment

Entitlement Attitude

AUTHOR: Robert - (United States)

POSTED: Monday, May 27, 2019

What an entitlement attitude, you write this "RipOff" as if you have some right to their money.

The fact is that as the creditor they can decide how much of THEIR money they are willing to allow you to borrow. As such they can at any time and for any reason increase or decrease your credit limit. Oh and yes you did agree to this when you opened up the account and yes EVERY creditor has the same terms.

The reason is that I have to much outstanding credit, or this or that.
- It is interesting how you were very selective in stating the reasons they gave you. It is very likey that the "this or that" reasons you failed to mention were a lot more telling as to the reason why.

However, none of this affects their payments and to top it off they are on auto pay and nothing is late and no case of insufficient funds.
- So what about your payment history with OTHER creditors?  Any late payments with other creditors? Are you maxing out, or running up your balances on your other cards?  Are you paying less and less each month on your other cards?  Your overall credit matters. You also realize that payment history is only one part, your useage patterns is another. For what ever reason you failed to tell us, it is these items that caused them to no longer want to risk extending you credit.

I'm going to pay them off as quickly as possible and I'm done with them.
- Actually based on their current actions it sounds like they have already decided they are done with you as well.

If I open a credit line and the company tells me their line is through Synchrony,
- Based on your current status with them, I don't think you have to worry about this as it is unlikely they would approve you for any credit.

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