Consumer complaint received 2023-11-06
Company: SYNCHRONY FINANCIAL
State: MA
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Credit card company won't increase or decrease your credit limit

Complaint:
Dear Sir/Madam, I am writing to formally lodge a complaint with the Consumer Financial Protection Bureau ( CFPB ) concerning a significant and unexplained reduction in my Amazon XXXX Card limit. I have been a loyal customer of Amazon XXXXSynchrony Bank for several years, consistently maintaining an excellent payment history and adhering to the terms of my credit card agreement. I have never missed a single payment, and my creditworthiness remains intact. However, I recently experienced a sudden and unexpected decrease in my credit limit without any clear explanation from the card issuer. 

I have always considered Amazon prime card as a reliable financial partner. My Amazon XXXX Card has been a valuable part of my financial toolkit, and I have used it responsibly to make purchases and manage my finances efficiently. Given my history of responsible credit usage, the sudden reduction in my credit limit has come as a shock and has disrupted my financial plans. 

The decrease in my credit limit has several negative implications : Increased credit utilization : This reduction in my available credit has caused my credit utilization ratio to increase, potentially negatively affecting my credit score.

Disrupted financial planning : I have relied on my Amazon XXXX Card for various financial needs, and this unexpected change has impacted my ability to manage my expenses and make essential purchases. 

Lack of clarity : The most concerning aspect of this situation is the complete lack of communication and transparency from Amazon prime Card. I have not received any notification or explanation regarding the reason for this reduction. 

I have made diligent efforts to reach out to Amazon to seek clarification on the matter and to request a reconsideration of my credit limit. Unfortunately, I have received no satisfactory response or resolution from their customer service representatives. 

I kindly request the CFPB 's assistance in addressing this issue. I believe that, as a regulatory authority, the CFPB is in a position to help ensure that consumers are treated fairly and that financial institutions adhere to established guidelines and principles. I am hopeful that CFPB 's intervention can lead to a just resolution of this matter, including a clear explanation for the reduction in my credit limit. 

Enclosed with this letter, you will find copies of my credit reports, correspondence with Amazon XXXX card, and any other relevant documentation that may aid in understanding the situation better. 

I would appreciate it if the CFPB could investigate this matter and take the necessary steps to ensure that Amazon XXXX card provides a satisfactory response and, if warranted, reinstates my previous credit limit. My excellent payment history and responsible credit usage should not be unfairly penalized, and I believe that transparency and accountability are crucial in this situation. 

Please do not hesitate to contact me if you require any additional information or clarification regarding this complaint. 

Thank you for your attention to this matter. 

Sincerely,

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation