Consumer complaint received 2020-09-22
Company: SYNCHRONY FINANCIAL
State: GA
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:
On Monday XX/XX/2020 I was informed via phone, after calling to check a payment had been received that Synchrony Bank closed 5 accounts I had with their bank, with NO prior warning. Many of which had been open over 10 years with ABSOLUTELY no late payments, negative remarks, delinquency, or past due with their bank or any other. My XXXXedit score at the time Synchrony bank closed all of my accounts was a XXXX. The reason I was given for all my accounts being closed was, " It was an automated system decision due to high risk associated with us believing their would be an inability to repay the account balances. '' The accounts closed were : XXXX Visa Sams Club Mastercard TJ Maxx Mastercard Paypal Mastercard Amazon Store Card However, at the time of the accounts being opened, YEARS PRIOR, I was offered a program called, Card Security which, according to the terms & conditions of this contract, would protect ( PAY IN FULL ) my card balance in the event I lost my job or was fired, took an employer approved un paid leave of absence, became XXXX, XXXX  or XXXX  a XXXX, or died. The program terms & conditions stated that 30 days after the event or loss was filed and approved, Card Security, would make the minimum monthly payment for a period of 3 months. After which, if the reason for the benefit was still in place, Card security would then pay off the balance of each credit card account balance, in full, up to a maximum of {$10000.00}. 

And by them closing my accounts while an approved benefits request is in place, they have not only put me in a position where any further payments could be cancelled and my balances not being paid!!! 

My accounts that were closed, were ALL enrolled in this Card Security program, except for 1 my ( XXXX Visa Account. But my balance at the time of closure was XXXX {$0.00}. With a $ XXXX credit limit. ) PRIOR TO Synchrony Bank closing my accounts, I contacted Account Assure to file a Leave of Absence Claim. Due to the Covid 19 epidemic & no fault of my own, I was placed on an employer approved leave of absence. I contacted Account Assure to file a claim on all the accounts on XX/XX/2020. TWO months before Synchrony Bank closed them. 

According to the documentation, ALL my benefit requests were approved and payment was issued on ALL accounts protected under this program. Synchrony bank accepted 2 payments FOR EACH ACCOUNT, under this benefit protection plan. 

So they were WELL AWARE of the ability to repay the accounts was in place, DIRECTLY CONTRADICTING THEIR ALLEGED REASON FOR CLOSING MY ACCOUNTS!! ALL accounts under this plan were being paid. ALL the payments were ON TIME as well as ALL payments were either for the exact amount due shown on my statement or greater than. I even made small payments on my own. 

So not only did Synchrony bank close my accounts after having received and accepted said benefit payments they were WELL AWARE my accounts had been enrolled in this program for YEARS prior to me requesting a benefit be processed. I have dated documentation showing each benefit request for each account was approved & paid PRIOR to these accounts being closed!! 

And because of Synchrony banks actions, they have caused me undue stress, adverse action to be taken on my other credit cards/accounts issued by other banks as well as caused my credit score to drop SIGNIFICANTLY, which is NOT RIGHT!!! 

I MAINTAIN THAT SYNCHRONY BANK, CLOSING MY ACCOUNTS, ACTED IN SUCH AS MANNER THAT IS/WILL BE DETERMENTAL TO MY CREDIT, MY FINANCES, MY LIFE, MY FAMILY & MY OVER ALL WELL BEING!! 

THE ACTIONS SYNCHRONY BANK TOOK ARE IN DIRECT VIOLATION AND AGAINST THE TERMS & CONDITIONS OF A CONTRACT THEY OFFERED & AFFORDED TO ME!!!! 

THEY EVEN STATE DIRECTLY ON ALL THEIR CREDIT CARD WEBSITES THE FOLLOWING : " Our thoughts are with those affected by natural disasters. We are here to support our cardholders in their time of need. If you are impacted, please contact us to discuss how we can help. " ... ... ... ... ... .... 

How is this " helping '' IN ANY WAY SHAPE OR FASHION?!! I TOTALLY UNDERSTAND THEY HAVE THE RIGHT TO CLOSE MY ACCOUNTS. HOWEVER, WHEN I HAVE A PROTECTION PLAN IN PLACE AND APPROVED PRIOR TO THEM DOING SO, THAT GURANTEES THEM PAYMENT & BALANCES PAID IN FULL, THAT IS NOT VALID FOR THEM TO DO THIS!! 

I AM PREPARED TO TAKE THIS MATTER TO COURT/ARBRITRATION IF NEED 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