Consumer complaint received 2024-09-09 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: SYNCHRONY FINANCIAL
State: MN

Complaint narrative:
My complaint is regarding Synchrony Bank Creditor. 

I am writing to formally express my concerns regarding recent actions taken by Synchrony Bank concerning my credit card accounts. Over the past three months, Synchrony Bank has reduced the credit limits on five of my credit cards, including my PayPal and CareCredit  accounts. These reductions have significantly affected my available credit and, consequently, my credit score. 

The timeline of events is as follows : On XX/XX/XXXX, XXXX of my credit cards saw a reduction in its credit limit. 
Every 2-3 weeks since then, another card has experienced the same reduction, totaling more than {$5000.00} in available credit being lost. 
On XX/XX/XXXX, the credit limit on my CareCredit  account was reduced XXXX day after using it for an emergency vet appointment for my dog. This resulted in being unable to cover follow-up care and prescriptions, which were the primary reasons I applied for the CareCredit  card in the first place. 
Most recently, the reduction in my PayPal credit limit left me over the credit limit on that account, which was unfair since I had already made purchases based on the prior limit. This has now subjected me to penalties. 
While I acknowledge that my credit may not be perfect, I have always paid my bills on time and have never been late. These sudden and repeated reductions in my credit limits are both confusing and damaging. I am deeply concerned that these reductions are being made based on arbitrary credit checks, which seem unnecessary given my consistent payment history. Furthermore, reducing a credit limit to an amount below an existing balance appears predatory and unreasonable. 

I have already contacted Synchrony Bank on two occasions, both via phone and online chat, only to be given the same vague responses contained in the letters I received. One representative even incorrectly told me that I should contact XXXX, which I did, only to confirm that they do not make such decisions. Despite following the necessary steps and even sending a formal letter to their XXXX XXXX XXXX XXXX regarding the CareCredit  reduction, I have yet to receive a response or resolution. Additionally, my attempts to request credit limit increases have been consistently denied. 

I believe it is unfair for a credit card company to subject customers to random credit checks and credit limit reductions without just cause, especially when accounts are in good standing. Synchrony Bank should not be allowed to reduce credit limits below existing balances, causing further financial strain and penalties. 

I hope this matter can be resolved promptly and fairly. I would appreciate any steps that can be taken to rectify the situation. If no resolution is possible, I intend to pursue further action, including bringing this matter to the attention of relevant regulatory bodies.

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