Consumer complaint received 2017-07-04
Product: Credit card or prepaid card — Store credit card
Issue: Closing your account — Company closed your account
Company: SYNCHRONY FINANCIAL (VA)

Synchrony Bank/XXXX XXXX store credit accounts closed.
( Synchrony Bank and XXXX XXXX ) My wife had a Synchrony/XXXX XXXX store card since XX/XX/XXXX. <P/>I had my own Synchrony/XXXX XXXX store card since XX/XX/XXXX. <P/>We each received letters dated XX/XX/XXXX and XX/XX/XXXX indicating that our accounts were closed because : - DEROGATORY PUBLIC RECORD OR COLLECTION FILED - PROPORTION OF BALANCES TO CREDIT LIMITS ON BANK/NATIONAL - REVOLVING OR OTHER - REVOLVING ACCOUNTS IS TOO HIGH - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN - TIME SINCE DEROGATORY PUBLIC RECORD OR COLLECTION IS TOO SHORT - NUMBER OF ACCOUNTS WITH DELINQUENCY In both cases, our individual Synchrony/XXXX accounts have XXXX recorded incidents of 30/60/90 days late. <P/>We both paid off our individual Synchrony/XXXX accounts in the last couple of months. <P/>We both reviewed all of our open revolving credit accounts all of the way back until XX/XX/XXXX. We have XXXX account that had XXXX single instance of XXXX days late. <P/>As mentioned above the letters were dated XX/XX/XXXX ( XXXX ) and XX/XX/XXXX ( XXXX ). We pulled our XXXX score dated XX/XX/XXXX ( XXXX week prior ). - On XX/XX/XXXX ( XXXX week prior to letter ), XXXX 's was XXXX and as of XX/XX/XXXX is XXXX. - On XX/XX/XXXX ( XXXX week prior to letter ), XXXX 's was XXXX and as of XX/XX/XXXX is XXXX. <P/>In the letters dated XX/XX/XXXX & XX/XX/XXXX, Synchrony Bank quotes scores from XX/XX/XXXX, 3 FULL MONTH PRIOR to the letters. The letters also state " While the credit score may not be recent, your score has likely not changed significantly '' and quotes XXXX 's score as XXXX and XXXX 's as XXXX. <P/>We both have XXXX public records on our report and zero accounts in collections. <P/>XXXX 's revolving credit utilization is 4 % and XXXX 's is 24 %. <P/>We have worked on our credit, we have been working at paying off balances, we have identified errors on our credit reports, and our credit reports have continued to improve. We are disheartened that Synchrony Bank/XXXX XXXX would hand pick a XXXX month old credit report to make decisions that impact our family 's lives. Why did they have to dig so deep to support this decision? Why did they post numerous reasons that are factually incorrect? Why would they punish us for paying down our balance? <P/>This action discourages any future interaction with Synchrony Bank. <P/>This action discourages any future interaction with XXXX XXXX. <P/>This action negatively impacts our credit utilization by closing accounts that have zero balances. <P/>This action negatively impacts our number of accounts with positive payment history as there is no history of late or delinquent accounts. <P/>Further, the credit inquiries associated with the initial application for these accounts was within the last 24 months so we have the negative impact of inquiries with no offsetting available credit or account with positive payment history. <P/>Call it what you want this feels like a crime. We tried to speak with Synchrony Bank on at least XXXX of the account decisions ( XXXX 's ) and we were initially told that the reason was that there was inactivity on our account. After being transferred multiple times we were told that the reasons were those stated in the letter and that we had to take the issue up with XXXX, which makes no sense. <P/>CFPB representative - we appreciate your review of our issue. I ca n't imagine a positive outcome, reopening the accounts would provide some value, but opening a new account would be a credit hit. Our hope is that your are able to squelch Synchrony Bank/XXXX XXXX 's predatory practices to issue credit around XXXX to support sales, but close accounts at there convenience to managed their credit portfolios, with no regard for the impact to consumers. <P/>The attachments include the letters that we received from Synchrony/XXXX. We 've also received a few of the artifacts from our XXXX accounts for our most recent XXXX credit information. We have much more that we can provide if needed included full credit report files and historical scores. <P/>Thank you, XXXX and XXXX XXXX