Report: #1158848

Complaint Review: Syncrony Bank

  • Submitted: Tue, July 01, 2014
  • Updated: Tue, July 01, 2014
  • Reported By: joe — Findlay Ohio
  • Syncrony Bank


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It is unfortunate that GE Capital, now known as Synchrony Bank does not bother to contact individuals before destroying any credit rating the individual may have.  All any human being is to this company is a number on a hook.  They don't bother to contact an individual to see what is happening with their credit or why they may be having difficulty.  All Syncrony does it contact its unsuspecting customers such as Macys or Penneys to report "their version" of why their customer should have their credit lowered or cut off. It doesn't matter whether they are current and paying on time.  They may be struggling with another company and for whatever reason doesn't matter.  The other company may not have produced what the customer paid for and so syncrony doesn't check why all they do is file their "report" and kick that person in the butt.  It is interesting to note that the companies that do not use Synchrony Bank for credit ratings do not lower an individuals credit and in some instances will raise it.

Synchrony has no actual phone number you can contact them at.  They have an address and you are told to "write" to them?

WHAT?? They don't have email or a phone????  Who has made these people so powerful?? Why does our government not check on these yahoos or regulate what their tactics are and how they operate.  How much money do these people make and does our government approve of what they do...wreck people's credit even further....destroy all hope of an individual to try and  get their lives back in some form of financial order....They are playing a dangerous game by making people insignificant nothings!!  Someday somone will go after them and ruin them and then hopefully all of us "nobodies" will get the last laugh.  

So, here is my message to Syncrony:YOU STINKCRONY!

Oh by the way...did any of the tinfoil hat geniuses in your marketing department that you employ realize that syncrony rhymes with PHONY??  Good choice of name:-D

I feel better just being able to say a few words on behalf of the little people and hope someday syncrony gets their kick in the A$$! Thank YOU!

This report was posted on Ripoff Report on 07/01/2014 02:42 PM and is a permanent record located here: 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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#1 General Comment

Fluff isn't just "fluff" it's real stuff

AUTHOR: Tired of stinkrony - (USA)

 Onviously the person who replied to stinkrony works for them ( think upper management) Because their reputation as a cold hearted and completely unfair credit/banking does not go unnoticed. My biggest question to "fluff" is why do other credit companies still provide me with adequate coverage and treat me as a customer not as a lowly slob? My credit score is almost 600 not totally deplorable Yes, due to a relatives unforeseen illness Medical bills got out of control Yet companies like target elder beerman, etc Those not under stinkronys thumb have given me high credit limits which I do not abuse Stinkrony only reads numbers they don't read The facts and they don't plain care Love to know how all their credit ratings are?? A little manipulation HHhhmmmm??

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#2 Consumer Comment

Dishonest Business


Here's actually what happened with GE Money turning into Syncrony.  A bank has to have enough money on hand to cover it's loans.  GE Money got so big with their store cards and long-term no-interest loans that they couldn't accomplish that anymore.  Synchrony has to get back under that line and their method of doing so is closing a lot of accounts.  An example would be lowhigh 700s and isn't really affected by this.  The purchase was for $4,200, terms 60 months no-interest.  Once Synchrony took over, everytime I made a payment, they lowered my credit limit to reflect my balance.  So for instance, when I paid my $70, my limit would also go down 70.  As a result, the card was always maxed out at 100%, which is not good for your credit regardless of the limit.  A high credit score is usually reflected by keeping your balances under 30% of the limit.  I was unable to do that here as their method was keeping it at 100%.  So when I got my tax return, I paid it off in full... and then they closed my card the next day after the payment posted.  My credit was not an issue.  However now it reads on my credit report under the accoutn, "Closed at merchant request."  That equates to, "We ddn't find this person credit worthy anymore" even though I purchased on a long-term payment option they offered to me and made every payment on time since I first got the card in 2011.  Since 2014, they've closed my Paypal ($500), Amazon ($5,000), Chevron gas ($600), CareCredit ($8,000).  None of the cards had a balance on it when they were closed down.  That's over $14,000 in available credit space that I earned through being financially responsible for 15 years closed off, and notated as Merchant Closed.  

My Experian Fico score in January of 2014 was 805.  My score is now 710.  I've never missed a payment in over ten years, and the only balance I carry is my everyday credit card at under 20%.  I lost 95 points, and was a low-risk client.  

There are plenty of companies out there giving credit now.  No need to go with a bank that is in debt.

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#3 Consumer Comment

Synchrony Bank

AUTHOR: Asmodeus1971 - ()

 I can understand looking at all your credit. That is normal business practice. In my case all our credit cards have high balances but none are late. In the last 8 months our household income has actually went up at least $15k yearly.

 Today I just found out the Synchrony Bank lowered our limit on our Chevron Texaco account. We had made no purchases since our last payment which was four times the requested minimum. They gave us no notice and their reason was the performance of my wife's other accounts with them which is a Walmart card that was paid off in full on her last billing cycle.

We have had both of these cards for over a year and may have been late on a payment one time, if so it was only for a day or two. We have been dependable customers business or not I still think we were owed a notice before we ended up at a gas station needing gas just to be declined. This account will be closed in two weeks and all my accounts with Synchony Bank will be closed and paid in full by years end.                      

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#4 Consumer Comment

For those who do not want to read the fluff..let me translate..

AUTHOR: Robert - ()

This is real simple.

You have a credit card that is managed by Synchrony Bank(GE Credit).  You are now upset that they decided(Not Macy's, Not Penny's) to lower your credit limit.

You figured that why in the world would a bank care about how the rest of your credit is, as long as you are paying them..right?  WRONG. 

Now you try and justify your complaint saying that they were not "carring" or "sympathetic" to any problems you may have.  Well help me out here...where in their name or terms does the word "charity" every appear? 

Perhaps you just "forgot" to pay one of your bills for multiple months in an honest mistake.  Perhaps your Internet Provider cut through your line making it impossible to make a payment.  Or perhaps you may just not be paying your bill because another "evil" company didn't perform as you thought and instead of using the LEGAL route of disputes you just on your own decided.."Heck I don't have to pay you".  By the way based on your other statements...the last possibility is NOT your case.

You see as a "sub-prime" borrower, you have to realize a few things.  Your ENTIRE credit history matters.  EVERY credit card not only has the right but will very often review your credit history to decide on if they want to lower or increase your credit limit.  Or perhaps even close your account all together..oh and YES they can.  Why can they do this?  Because this is NOT your money.  It is the amount of money they are willing to allow you to borrow at any one time.  As such they can say they no longer want to take as much of a risk.  You want a real kicker...they don't even need to review your credit report, they could just do it for absolutly NO reason.  And once again..this is all things YOU agreed to when you opened the account.

If you really cared about your credit history you would work within your means...meaning that in the long run it is probably a good thing they lowered your limit..less of a chance to get in more over your head.  Because if you are using credit cards to survive at places like Macy's and JCPenny' definatly need to reorder your priorities.

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