Consumer complaint received 2024-05-28 00:00:00
Product: Credit card — Store credit card
Issue: Closing your account — Company closed your account
Company: SYNCHRONY FINANCIAL
State: MI

Complaint narrative:
XX/XX/XXXX To whom it may concern : On XX/XX/XXXX, I entered Lowes to make s purchase. I was greeted by an associate who asked me if I would like to apply for a Lowes card and receive a free gift of my choice regardless of whether the card was approved or denied. I agreed. The associate took me to area of the store where her desk was in the carpet center etc. She proceeded to enter my Lowes credit card application on her computer while also handling customers. The process took some time to complete. I give her true answers to her questions needed for the application, provided a MI identification card. One question was about my income, I said {$11000.00} XXXX, she hesitated then said she would enter {$34000.00}, then went over to help a customer, and back to me. I had not at any time witnessed what she was entering in her computer on the application. She processed it and then informed me the application was approved for a XXXX credit line. Then informed me and set me up for instant use of my new card that day until the card arrived.

I was surprised that the Lowes card when it arrived was financed by Synchrony Bank. I had not been told it was by Synchrony bank, which I had another active account with another retailer in good standard, which then I assumed was why I was approved for the Lowes, card. Since than I paid off my previous account and closed it. More then 97 days later I receive an email on XX/XX/XXXX that my Lowes account was closed for the following reasons, XXXX report : 1. Lack of Real Estate Secured Loan Information ( I have been a renter all my adult life ) 2. Too many Revolving accounts with high balance Compared to credit limit.

a. I have four other credit accounts, 2 with a {$300.00} Credit limit, and one with a {$700.00} credit limit. And one with a {$1300.00} Credit limit, The Lowes card my fourth card with {$1000.00} credit limit. Monthly total minimal payment equals {$190.00} per month without any late payments, past due payments the oldest bankcard is nearly 2 years old. I have no unpaid cards/closed/in default/collection or bankruptcy listed in public records.

3. To many Bankcards with High Balance compared to Credit limit.

a. Is a High balance ( or credit limit ) {$300.00}, {$700.00}, {$1000.00}, {$1300.00} or combined balance {$3600.00} to high as if it was more like XXXX? 
4. Average time since revolving accounts opened is too recent.

a. These bank cards may be recent, and revolving accounts as well in the last 2 years. The bank cards were initially with the first one issued under a credit building program with XXXX XXXX recommendations and XXXX  recommendations. Note : I am still being frequently encouraged to apply for pre-approved bank cards base on good ratings and would continue to my increased credit scores from low XXXX to XXXX or higher. That the three reporting agencies vary by 50 points in some cases each month.

Synchrony Bank states in its closing letter there reasons was based on XXXX credit report agency. Not XXXX rating of XXXX of XX/XX/XXXX, or XXXX XXXX of XX/XX/XXXX and XXXX of XX/XX/XXXX of XXXX of XX/XX/XXXX. Between the XXXX agency the credit balance of XX/XX/XXXX varies from {$2600.00} XXXX to {$3000.00} XXXX and {$2900.00} XXXX. Between the three agency no consistent figures reported. Five credit instruments all in good standing reported where reported by all three agencies. So why was my Synchrony Bank Lowes card closed 90 day later.

I must question why Synchrony bank closed my Lowes card account after 97 days based on credit reports that at the time the Lowes associate take my information and input it on the online application. With what all three-reporting agency say, in good standing as of XX/XX/XXXX ( online printouts ), no missed payments, no defaults, and certainly no public records such as collections or bankruptcies. Shouldnt Synchrony bank have denied my application at the time XX/XX/XXXX, why after approving it and me using nearly all the {$1000.00} credit line and never missing a minimal payment am I now declared a risk, close the account as if I never paid a minimal payment, and just now getting a credit report follow up they didnt like. The other four credit accounts being in good standing of XX/XX/XXXX have not done the same thing, as if it was a legal obligation to do so to close an account 90 days later.

I must question Lowes method of doing the application under the circumstances where the associate was dealing with customers. As well as not providing a printout of my application before it was submitted so I could verify the information given by me and the associates imputing of the information she typed in was correct. I have no proof of what that application says. I must question Lowes associate of imputing information to mislead Synchrony bank, because that associate was also under orders to do so to gain new accounts to meet a quota for that day. New accounts to mislead the consumer in believing they earned the account and Lowes knowing the account would be closed 90 days later when the consumer, the Lowes card holder incurred a {$960.00} debt he is now forced to pay until paid off without privilege of using the card when it was closed. I had no intention of defrauding that account or any account. Will my other accounts take the same action/decision now because Synchrony bank saw it that way?

I am now obligated to pay off a closed account and Synchrony Bank or Lowes both knew the account would be closed 90 days later. Thus, hoodwinking the consumer to go into debt and apply while Lowes and or Synchrony bank fixed it to be approved knowing it would be closed 90 days later. The consumer forced to keep making payments on this account he can no longer use. Not to mention a closed account with money owing lowered my credit rating after building it up as it was in the three credit reporting agencies. 
I recently got out of he hospital after having XXXX XXXX XXXX, a XXXX that will XXXX XXXX XXXX I am XXXX as it is. I would like to believe my hospital stay and the diagnosis, of a XXXX XXXX didnt affect Synchrony banks decision. I would like to believe a hospital stay isnt reported to credit agencies, or it is also an age factor and pending death now a legal obligations to close my accounts. There are a lot of things I would like to believe in, like winning a XXXX XXXX lottery ticket. I dont gamble and I dont gamble on my health either. Nor do I incur debt likely based on my XXXX income, high cost of rent, etc. I would like to believe Lowes and or Synchrony bank would not stoop so low to get new accounts then close them 90 days after they gain legal obligations for me to owe them on a closed debt of {$960.00}. I cant even use as per the account agreement as long as I keep my payments up. Are they telling me they are fortune tellers, and now see in their crystal ball I am a XXXX consumer, when by all accounts they have no proof of that. I feel as if I am being unfairly treated, abused financially, swindled, made a fool of, consider a liar cheat crook before they have any fact of such. Worse, deliberately forced into a debt by scammers or some quota Lowes had to reach in gaining new card holders for Synchrony Bank. And the bank knowing they would close the account 90 days later.

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