Consumer complaint received 2018-05-06
Company: SYNCHRONY FINANCIAL
State: GA
Product: Credit card or prepaid 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:
Good Day, XXXX XXXX  has a practice where they suddenly and without warrant reduce your credit limit and thereby negatively affecting a persons credit score. 

XX/XX/XXXX : Wal-Mart  Credit Card managed by XXXX XXXX  reduced my Credit Limit to  {$100.00} immediately after I PAID OFF MY CARD. 

XX/XX/XXXX : TJ Maxx Credit Card managed by XXXX XXXX reduced my Credit Limit to {$100.00} - then CLOSED my account within 30 days of my PAYING MY BALANCE IN FULL. 

Note : Why do they do this when you pay them off? Ironic isn't it? 

When you contact either retailer, they immediately tell you to call XXXX XXXX. When you call XXXX XXXX - they send you a " canned form letter '' stating that, " after reviewing your CBR - they have found that I have numerous delinquencies and Public Records ''. ALL OF WHICH ARE UNTRUE! You check for an INQUIRY from XXXX XXXX, ... nothing to be found. They did not review anything! I am a member of XXXX Credit Monitoring and there is no Inquiry from XXXX XXXX. Just lies! 

I would like file a complaint and then if I am not addressed directly and intelligibly, I will move to file a Class Action Lawsuit against this entity for SLANDER and damages to my CREDIT SCORE ( both times ). I will start calling Law Firms next week. I have read hundreds of stories online from people with the exact same complaint. A class Action Lawsuit would be EASY. 

I happen to be in the process of purchasing a home. My credit score is over 200 points HIGHER than when Synchrony APPROVED me for either card. My income is more than double. My credit utilization is well below 50 %. I have -0- open collections, -0- open public records, any delinquency shown is 12+ months or several years old. 

XXXX and XXXX XXXX - MASTERCARD and VISA have increased my credit limits THREE TIMES in the last 5 months. My XXXX XXXX card also increased my limit from {$500.00} - {$800.00} within the last 60 days. Synchrony is incorrect! They are blatantly and falsely imposing these decreases and closings on MULTIPLE CONSUMERS and in some cases RUINING lives. 

Additionally, XXXX approved me for a card just before this occurrence. 

I will not sit down and just LET THIS happen ; now this is TWICE? Absolutely not. 

Please believe, I could care less about carrying these cards. If I weren't closing on a home in 3 months, I would close this last one MYSELF. 

XXXX - The largest retailer on the planet? Uses XXXX XXXX  as well. My card has a {$700.00} limit that has never changed. I wonder why? If I'm so bad, shouldn't they reduce that limit as well? No, because I'm certain XXXX won't allow it. 

I've also held Credit Accounts at ( XXXX XXXX ). Limits up to {$6000.00}. They approve it everytime. I pay in full every time and BEFORE the end of my contract. 
Guess who manages that line of credit? XXXX XXXX. You know my TRUE history, yet you obviously NEVER REALLY review it before making these erroneous decisions. 

My payment history is outstanding. I pay double, sometimes triple the minimum payment required. Oh, are you not making any money off me Synchrony? Is that why? 

Please assist me and thousands of other consumers in making this right. There is something going on and the consumers deserve the truth.

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