Consumer complaint received 2021-05-14
Company: SYNCHRONY FINANCIAL
State: MI
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I have had a credit card with Amazon ( Synchrony Bank ) for many years. Over the last 10 years, I have opened several credit cards with Synchrony Bank. Almost one week ago, it came to my attention that my Amazon Credit Card account was closed as I went to check the balance and there was a message at the top of the internet page that read : " This account has been closed. No further purchases will be allowed. Continue to make payments until your balance is paid in full. '' I was really nonplussed because of how long I have had a card with them and I use it often and, importantly, I pay it off on time and 99.99 % of the time in full. Furthermore, I had contacted them just a few weeks prior to this and asked for my credit limit to be raised. It had been at {$1100.00} limit for many years. I was looking at buying something that might cost me over that amount and my credit was raised to {$3900.00} just a few weeks ( not even one month ) before all my accounts were closed. 

After contacting them, I realized that it was a decision by Synchrony Bank. So, I checked all my credit cards with Synchrony Bank and they had all been closed. I called again and was told that a letter had been mailed out to me but, apparently, I was considered 'high risk. ' I am a medical doctor with an excellent income and compared to many people, little debt. 

These are the cards and limits that I had with Synchrony Bank. 

XXXX {$5000.00} PayPal Credit Card - {$5500.00} PayPay Credit account - {$6000.00} XXXX XXXX - {$500.00} ( recently, this year added ) JCPenney 's - {$1900.00} XXXX XXXX XXXX - {$2000.00} Care Credit - {$14000.00} There might be another one that I am forgetting. But, eight that I can come up with, quickly. I have had most of them for years. The balances on all of them were completely at zero except for another {$60.00} that I owe on my PayPal credit account and my Amazon account. 

I have used all of them - at times sporadically ( like the XXXX and the Care Credit for my pets ) but they've all gotten paid off the very first cycle - unless there was a zero percent interest over 6 or 12 months. All payments timely and all in full.

As an older woman, the Care Credit card meant a lot to me should anything awful happen to my pets. I used all the cards. Over the last few months, I had received offers with other banks which I felt that I could not pass up ... specifically XXXX which offered me cards with introductory miles for travel ... so, I had not used any of the cards in a few months. 

My credit score did drop a bit as I opened the newer XXXX cards - from XXXX down to the low 700s. However, my credit score when opening all my Synchrony cards was never that high. I have worked years building my credit score. I imagine now that I have the XXXX cards ( I had wanted a travel card with the mileage perk for years and applied once half a dozen years ago and was declined ) - I had planned on going back to using my PayPal credit card because that particular card offered the best rewards back at 2 %. 

I own two homes with a small fraction of each home 's value payable in a mortgage for each. In other words, there is nearly XXXX XXXX dollars in equity in the two homes. One of the homes is a family home that has been in my family since XXXX. There is no way that I would not pay any bill. I also have a very good income. There is no reason for all of these accounts to be closed. 

Furthermore, by doing so, Synchrony bank changed to debt to credit ratio significantly in my credit reports and thereby hurt my credit score inappropriately and unwarrantedly. It is one thing for a consumer to close an account ; it looks quite differently for a bank such as Synchrony to close 8 different accounts all without true reason. This 'high risk ' is a fabrication for an unknown purpose. 

I also had rewards on some of those cards and they are now lost to me. It is an unkind, disrespectful and unwarranted way to treat a customer who has been with them close to a decade and faithfully paid each and every bill on time and in full. 

I would like to state here, also, that my Amazon card advertised that large purchase could be done at zero interest - I believe that it was either 6 or 12 months. I purchased somethings on Amazon at the very beginning of XXXX and I am expecting them to honor this as the letters that they sent me on each account are dated XX/XX/XXXX. 

I XXXX  " Synchrony Bank closing accounts '' and, apparently, they have done this with many, many people. Some - probably many to most - with excellent credit history such as my own. And to do this type of business during a pandemic is extremely disheartening. They should not be allowed to do business in this manner. 


Please note that the copy to each credit card mentioned above has the same letter except the name of the credit card is changed.

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