Consumer complaint received 2020-09-17
Company: SYNCHRONY FINANCIAL
State: GA
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
To : Synchrony Bank XXXX. XXXX  XXXX XXXX, FL XXXX CC : United States Consumer Financial Protection Bureau RE : XXXX XXXX / Lowes Advantage Card ending in XXXX Doing the month of XX/XX/2020, I applied and received my new Lowes Advantage Card ending in XXXX, Since then I have paid on my credit card each month without fail. Covid-19 bought on hard ships to many if not all-American consumers. I never once called  Synchrony Bank c/o Lowes retail stores and asked for Covid-19 consideration on paying my monthly credit card bills. I paid each month without concern. 

XXXX new card no Bill XXXX used card first bill due by XX/XX/2020 XXXX> Paid {$30.00} XXXX XXXX Paid {$45.00} XXXX > Paid {$40.00} XXXX > Paid {$40.00} XXXX XXXX Paid {$100.00} XXXX Paid {$100.00} XXXX Paid {$1000.00} Doing the month of XX/XX/2020, I received a letter from you reducing my credit limit from {$3000.00} to {$2200.00}. your reasons were not true and fabricated to the highest. 
Page 2 XXXX XXXX / Lowes Advantage Card ending in XXXX continued : You stated you based your decision on a credit scoring system that was used to PREDICT my credit worthiness. 
***Interestingly enough my credit worthiness in your own words was good enough with your PREDICTIONS to issue me the new credit card for the purchase of a washer and dryer when I applied for it in XXXX of 2020. *** However, 7 months later you now decrease my {$3000.00} LIMIT to XXXX based on the reasons below then blame your reason on my credit bureau report. Well I contacted the credit bureau as advised in your letter to me. 

The bureaus statement was, Synchrony Banks customer credit relations department representatives could use a bit more training.

1. Synchrony Bank stated, my credit report shows ( Lack of real estate secured loan information ) True I do not own a home however, the credit bureau says, a home has never been a requirement for a {$3000.00} retail store credit card prediction.

2. Synchrony Bank stated, my credit report shows ( Too many revolving accounts with high balance compared to credit limit ) False, I have 5 to include Lowes, and all have XXXX or paid off or balances under {$300.00} I normally pay my credit cards off every month especially if they have under {$500.00} balances. 




Page 3 XXXXXXXX XXXX / Lowes Advantage Card ending in XXXX continued : 3. Synchrony Bank stated, my credit report shows ( not enough balance paid down over time on retail accounts ) I have one retail account that is LOWES. The other cards are Master Card/Visa and XXXX. All with {$10000.00} or better limits paid off or in full or with under {$300.00} limits and a paid off car over the last 10 years. 

4. Synchrony Bank stated, my credit report shows ( To many bank cards with high balances compared to credit limit ) Totally false!!  My XXXX paid in full, Car paid in full, Visa {$300.00} balance, Master Card No Balance, XXXX, No Balance, Lowes ( now  {$1300.00} balance. ) This is not a letter asking for an increase, this is not a letter authorizing you to run a credit check. This is a letter requesting a resolution of putting my Synchrony Bank Lowes credit limit back to where it originally was when I applied and was accepted biased on the facts outlined in this letter. 

Thank you! 

XXXX XXXX XXXX XXXX, XXXX XXXX. 
XXXX XXXX XXXX, Georgia. XXXX XXXX

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