Consumer complaint received 2024-01-25 00:00:00
Product: Credit card — Store credit card
Issue: Closing your account — Company closed your account
Company: SYNCHRONY FINANCIAL
State: TX

Complaint narrative:
In XXXX of XXXX, synchrony Bank closed my rooms to go credit card completely. The card had an approximately XXXX limit, with what at the time was probably a XXXX dollar balance. 

They continued to take my agreed upon monthly payment using the autopay feature I set up, which led me to believe everything was fine with this account. I never would have thought they closed the account given they continued to pull the autopay amount out like everything is fine. That is very misleading. 

The balance is now XXXX. The company closed my account, I never recieved notification of this, and i open every single mail i get daily. There is no way i could have missed a mail that i recieved. I take my credit very seriously and would have noticed. 

By closing the account I had a XXXX dollar limit and a remaining balance of XXXX. Because payments were coming out as normal i thought everything was fine for months. However, this whole time, XXXX to XXXX, my credit score has gone down and when i thought about reasons synchrony bank wasnt one of them because i assumed everything was fine, they are taking money on autopay. 

I NEVER even considered a card would have closed. I have a XXXX XXXX on time payment history with the 1 missed payment in years being an account i couldnt acess on time because the login i created was incorrect.

Synchrony XXXX card closing created a situation where I have over the limit card, which is one of the worst possible scenarios in credit. This of course destroyed my credit score and is now having a domino affect. To make matters worst the agreed upon deal is XXXX  year payment plan no interet, so to rectify the situation I'd have to find XXXX that I do not have, nor did I have notice I'd have to pay. This isn't asking for XXXX dollars, it's XXXX, and it's XXXX I don't owe interest on which forces me to stop paying other things that do collect interest if I want any chance of saving my score, and locks me in a poverty cycle ( pay no interest debt to save my score, while interest debts get larger and ruin my score ) I do wonder if synchrony purposely made the decision to close my account because it's no benefit to them at all. Compared to other cards which collect interest. I've never had this happen with other credit cards, if anything they lower the limit first, they don't just close.

When synchrony XXXX decided to close my card I had been paying for well over XXXX  years never missing their payments. I had the card on autopay and it was still taking my money like the account was fine. When I went to check online today, the account even said ( {$0.00} owed, /no minimum payment due ) it was only when i looked at the limit that I realized they had closed it. 

They continued to take money from my account on autopay, which mislead me to think everything was fine with payments to this company. They continued to say no mimum payment due when actually, XXXX is do if I want to save my credit score. 

It's as if my agreement remains, which is to pay them on time, the same amount on autopay, but they do not have to hold up there side of the bargain which is to continue to report me as a responsible credit user who pays on time. Instead, they report the account as closed with a remaining balance of XXXX! which falsely makes me look very risky and irresponsible to all other credit agencies and leads them to do the same. 

This is unacceptable for loyal customers who pay on time. And have excellent credit payment history. I could see lowering a card limit because they say someone is " risky '' based on debt to credit limit percentage, but to completely close a credit card of someone who pays faithfully, without problems ( high payment history ) synchrony and other credit cards, for well over XXXX  years is unacceptable. 

I disagree that the punishment was deserved : destroying my credit and misleading me by continuing autopay and saying payments are on time, when really they werent, because by nature of credit scores, and a closed account, i now owe XXXX on a XXXX dollar limit. 

When i asked, Their XXXX confirmed there was nothing on the credit decision about missed payments, just they thought I was " risky '' for other reasons. So they ruin someone's credit while continuing to take money as agreed upon as if the contract remains in affect when it actually doesn't. They report that the account is closed and i now have XXXX dollar available credit but an XXXX balance. And I did nothing wrong in this equation.

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