Consumer complaint received 2023-08-14 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: SYNCHRONY FINANCIAL
State: KY

Complaint narrative:
Synchrony Bank continues to close my paid in full accounts. They have either lowered my credit limit to the amount I owe or closed the account after I pay it off. Upon talking to XXXX on XX/XX/XXXX, she informed me that my accounts always go up for review, there is no time period that this happens. She said that Synchrony Bank reviews the credit report of the account holder and bases their decision solely on that information. This is discrimination on the part of Synchrony. They are basing their credit decisions on false information from the credit reports and then closing accounts based on that false information. This action of closing my account or lowering my credit limit hurts my credit score, my credit history and my credit usage. These actions by Synchrony have caused me to be turned down for credit, for rentals of homes, jobs and more. 

My payment history with Synchrony is EXCELLENT! My credit reports and credit information ( attachments ) will show numerous discrepancies on my credit reports. These attachments will show that the credit reporting agencies are not providing the correct information ( even Synchrony ). Attached you will find that I have included a print out of a screen shot showing all the disputes I have filed over this past year. There is no reason that Synchrony should have ruined my credit, NONE!!!!! You will see on all attachments I have noted the balances that are incorrect, by circling them. I have outlined the disputes that have been filed and other important information that Synchrony is basing their decisions to close my accounts on. It seems completely out of the legal realm that every time I dispute my credit, Synchrony makes changes to my accounts. I believe they are taking all steps to ruin my credit. I believe Synchrony is discriminating against me due to my filing disputes. 

I have XXXX outstanding disputes with the credit reporting agencies due to incorrect information on my credit reports. XXXX! I advised XXXX of this information and she agreed that it seems that Synchrony is making decisions based on false information. She contacted the corporate office, via notes in the system and asked that they contact me. I explained to her, she can see that my balances with the two accounts that Synchrony just closed are paid off ; however on my credit report it shows they have an outstanding balance. Credit reports do not update in a timely manner! Synchrony does not update in a timely manner. 

Because Synchrony chooses to make decisions on false information, they consistently hurt my credit by lowering credit limits and closing accounts. Also, Synchrony picks and chooses which accounts to close and or lower the credit limit. I have a XXXX Credit card with a paid off ( {$2000.00} limit ) balance and now they have lowered the limit to {$250.00} ; but they have allowed it to remain open to use. My Lowes card and my TJ Maxx Mastercard limits were only {$1400.00} combined. Synchrony has also left my TJ Maxx Storecard open. There is no reason to Synchronys decision to close one account and not another. It seems they are choosing what credit they want me to have, although I have not neglected any account with them. 

Synchrony is knowingly damaging my credit by making it look like I spend my credit up to its limit, when in fact it is well below my limit before they change it. Synchrony states in its letter to me that a lack of XXXX XXXX XXXX XXXX Information is one of four reasons that they choose to take action. When Synchrony approved me for these credit cards, I did not have any XXXX XXXX XXXX XXXX. If this was a precursor to having the credit card and/or keeping it, it is not listed in their terms and conditions that they sent me when mailing my new credit card. The other reasons that they give are solely based on false information from the credit reporting agencies. If Synchrony is going to continue to be blind to the truth clearly showing that my accounts with them were paid off, I would like to know how to hold Synchrony and all other Credit Agencies accountable for the damages, stress and time I have spent to correct these errors. Are their actions are legal? Also, Synchrony consistently closes my account just after I pay the entire balance in full. Just last month I paid my full balance on both my TJ Maxx Mastercard and my Lowes Card and they closed the accounts within 30 days. I received their letter on XX/XX/XXXX and they closed my accounts on XX/XX/XXXX. It should be noted that both Synchrony accounts were paid in full on XX/XX/2023. 

The letter Synchrony offers as to the reason my accounts are closed is based solely on the high balances to credit limits which again is incorrect information and Synchrony knows this. Synchrony contributes to my credit looking as though it is up to the limit by lowering my credit limit to what I owe. How can they say this is a reason when they are creating the problem! This is an ongoing issue with Synchrony and Synchrony is the ONLY bank that makes these decisions and hurts my overall credit by initiating same. It seems that they are insistent on ruining my credit! 

The fact that Synchrony has continued to make these decisions over and over again, hurting my credit, causing my score to go down and making it nearly impossible for me to be credit worthy, I am wondering if moving forward legally would be beneficial. It is important to note that I know of two very close family members that are going through dire financial situations and have not been able to make payments to Synchrony Bank ( and others ) in the last 3 months. They also checked their Synchrony accounts last night and it is showing that they are late for 3 months ; however, the accounts remain open and the credit limit remains the same. Synchrony is well aware of what they are doing and how they are ruining my credit!

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