Consumer complaint received 2021-09-18
Company: SYNCHRONY FINANCIAL
State: NY
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
There seems to be a practice among credit card grantors specifically Synchrony Bank and XXXX XXXX  in which they appear to be reviewing customers accounts and if their credit score is lower than when they first got approved, the Banks are just closing customers ' accounts and saying it is due to a report received from the credit bureau as if the customer 's credit is bad. I believe this practice is unfair especially if the customer 's account is in good standing with the credit bureaus! like mine! Within the last 120 days this happen to me twice. XXXX XXXXXXXX XXXX XXXXXXXX on XX/XX/2021 and just recently Synchrony/Old Navy XX/XX/2021. I just happen to get a credit alert from XXXX XXXX today XX/XX/2021 that my account with Synchrony/Old Navy was closed. I got one on XXXX around XX/XX/2021. When I called to inquire as to why ( same with XXXX  ) they refuse to reopen my account. Both of my accounts were in good standing! I have a 15 page document detailing my interaction with XXXX  that I have been dying to share online. With Synchrony, I wasn't about to go through what I went through with XXXX. I simply told them I am going to file a complaint and sue them. I'm waiting on the same letter XXXX sent me which I received in the mail 3 weeks after my account was closed, ( See attached Letter and that information was not even correct with what the credit bureaus actually had ) telling me basically after doing a review of my account I was no longer credit worthy! Synchrony is going to be sending me, I guarantee you the same bureaucratic letter that XXXX sent me. There was no warning nor notification from XXXX nor Synchrony prior to closing my accounts. Creditors closing my account like this is affecting my credit and has caused my score to drop and they don't seem to care. THIS HAS TO STOP. Unlike the issue I had with XXXX XXXX XXXXXXXX XXXX XXXX card XXXX I wasn't in an actual store making a purchase. I was about to go to the store and make a purchase but then I got the alert about my account being closed. Again, I didn't have another card available at the time to use. They can't just do this to customers. This will affect my ability to purchase a house and car which I was preparing to do within the next 45-60 days! Creditors closing my accounts looks like I did something wrong or that I am a credit risk! and I am not! If this has happened to anyone else, please report it and if you reported it before and nothing was done, report it again. This practice must stop! We must file a class action suit against these banks. These banks are the grantor of almost all the credit cards that are issued in the credit card industry. Go to these links and you will be shocked how many companies issue their credit cards through Synchrony and XXXX ; https : XXXX XXXX XXXX XXXX  and https : //www.mysynchrony.com/XXXX XXXXXXXX XXXX XXXX ; And this is how they treat their customers? It shouldn't be.

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