Consumer complaint received 2021-04-02
Company: SYNCHRONY FINANCIAL
State: NY
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 been a CareCredit ( Synchrony Bank ) cardholder for over twenty years. In that time the card has been used responsibly for various medical, dental, and veterinary expenditures. At one point I actually had two accounts : one with a limit of {$3700.00}, and another with a limit of {$4000.00}. I have always paid per the card agreements on or ahead of time with monthly installments, and the balances were always paid in full. 

On XX/XX/XXXX, I received an email notification from XXXX XXXX that one of my accounts had been closed. Upon investigation, I discovered that the CareCredit account with the {$4000.00} limit had been arbitrarily closed without any advance communication from Synchrony Bank. ( I also learned that the {$3700.00} limit account had been closed unbeknownst to me on XX/XX/XXXX - before I was enrolled in XXXX XXXX. ) This action immediately lowered my credit scores ( 8 points on XXXX XXXX, and XXXX points on XXXX ), and simultaneously jumped the amount of credit utilization I appear to be using!!! In addition, this happens to be one of the longest standing accounts I've owned! 

Upon discovery, I contacted CareCredit 's customer service department ( on or about XX/XX/XXXX ) and requested to know why the account had been cancelled. I was told it was due to a long period of " disuse. '' I remarked that this card isn't intended for general, everyday use, that it is geared for 'extra/unexpected ' expenses such as would be likely from medical, dental, or veterinary needs. I added that I was given no advance notification of the bank 's intent to close the account, whereby I would've made use of it to keep it active - like a recent experience with another large creditor. I then requested that it be reinstated, upon which I was told that couldn't be effectuated. Instead, however, I was invited to " re-apply, '' which would further adversely affect my score with a hard check! 

I find this disturbing on several levels : - As a responsible consumer, I was given no chance to demonstrate my desire to maintain the account ( s ). I was actually just about to reach for it to help manage a planned veterinary expense ( dental - which always involves lab work & XXXX and is expensive to the tune of +/- {$1000.00}. ) - This bank has just lowered my credit rating by making it seem as though I'm now suddenly using more available credit by virtue of removing {$4000.00} ( plus another {$3700.00} in hindsight ) from what was previously available to me, and through no fault of mine! Not only is this non-transparent, but why is it even allowable with no advance notice?!! 

- There is absolutely no regard from the bank for the consequences of their silent actions upon the conscientious consumer. 

-When quickly brought to their attention that I wish to responsibly maintain my account, they refused to re-instate it, yet welcomed me to sign up for more of the same XXXX tactics in some potential future scenario with a " new '' account. 

- That I have to take time out of my schedule to bring this to the attention of a third party, in the hopes of a respectable resolution, when I've done nothing to invite this demerit, is, to my logic, ludicrous. 

- I wonder how many others have also been negatively impacted by this bad actor.

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