Consumer complaint received 2021-12-16
Company: SYNCHRONY FINANCIAL
State: FL
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 got the XXXX Synchrony bank card a couple of months ago because I do a good amount of sport card purchases and selling on XXXX as a hobby. They had a really good reward point plan like 5x until the end of the year and I was trying to take advantage of the program by using the card on all of my XXXX purchases. 

It only had a {$5700.00} limit so I had to make payments mid cycle to increase spending limit as to make more purchases. 

They constantly put like 10 day holds on all of my payments to slow me down for the past 3 months or so. I missed several opportunities to use the card and accumulate addition points due to these excessive holds. 

Today I was going to get like {$1000.00} worth of points to buy items on XXXX and was excited to do so after months of card use as you can not use the points until a cycle or XXXX after the purchase date. The card was declined when trying to purchase the items from XXXX. I looked online, utilized customer service chat and called the company to see why my card was not working. It turns out they cancelled my account without notice on XX/XX/21 and were sending me a letter with a detailed explanation as to why. 

After 2 additional hours on the phone with the company on hold and transferred to multiple run arounds I was finally told the reason for cancelling the card was high risk of not paying balance. From customer service I was redirected to the billing department who confirmed I had no balance issues and no delinquent payments. I was then sent back to customer service where they said the credit bureau report caused the cancellation by the system and there was nothing they could do about it and nobody that could fix it. This information was confirmed by a supervisor. 

Important side note is if your account gets cancelled you forfeit all of your points. 

They have no evidence of lack of ability not to pay balance. Zero missed payments or late fees anywhere. Coupled with a credit score near 800 seems a bit fishy and a move to avoid paying out my mega point bonus!!! 

Seems like they are using the ability to cancel cards in the contract to benefit themselves and when somebody is set to benefit from their rewards a bit too much they will cancel your card and forfeit all your rewards conveniently. Probably dont cancel any contracts they are making a profit on Please review and look into this case as it seems highly irregular that my card was cancelled. The reason for cancellation is completely inaccurate and without any evidence. This appears to be an abuse of the consumer to clearly benefit them and not the consumer. 

Having accounts closed like this negatively impact ones credit score and I have already received alerts about my credit score due to this inappropriate card cancellation. 

Thank you for your time and effort in the review of this matter.

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