Consumer complaint received 2024-09-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: SYNCHRONY FINANCIAL
State: CA

Complaint narrative:
I opened my current account in XXXX. Since at least XX/XX/XXXX, my credit limit has been {$10000.00}. ( See attachment 1 ) I believe my credit limit has been {$10000.00} since XXXX. 

I have always paid this account as agreed and on time. My most recent XXXX XXXX Credit Report dated XX/XX/XXXX has no adverse information. All accounts are current, paid as agreed and never late. ( See attachment 2 ) On XX/XX/XXXX, I received an email alert from Synchrony Bank that my XXXX XXXX XXXX XXXX CARD account balance was within {$1000.00} of my credit limit. ( See attachment 3 ) I was concerned about this because I carefully manage my account and suspected an unauthorized charge of {$4000.00} or more. My credit limit was still {$10000.00} as of my last statement dated XX/XX/XXXX. ( See attachment 4 ) I logged into my account and discovered I was within {$140.00} of my NEW CURRENT credit limit of {$6000.00}. ( See attachment 5 ) My credit limit was reduced from {$10000.00} to XXXX WITHOUT NOTICE OR EXPLANATION. While online, I tried to request a credit limit increase back to {$10000.00}. The request was denied stating, Your credit limit can not be increased at this time. ( See attachment 6 ) I also received an email stating the same. Ironically, when I logged off my account, a message stated, Thank you for managing your Synchrony accounts. ( See attachment 7 ) I received an email stating the same. ( See Attachment 8 ) It appears that Synchrony Bank needs some training in customer relations. 

I responsibly manage all of my accounts because I use credit as a tool. Synchrony Banks reduction of my credit limit WITHOUT NOTICE is completely unjustified and has undermined my financial management plan and damaged my credit standing. 

I have been treated like a deadbeat that does not repay his debts. This is very insulting to me and reflects negatively on the Chevron brand. WHAT IF THIS WOULD HAVE OCCURRED WHILE TRAVELING ON VACATION? I may have discovered my new reduced credit limit had been reached while trying to pay for a hotel room or buy Chevron gas to return home. I could have been left stranded and my vacation ruined! Few people carry cash these days. 

On XX/XX/XXXX, I finally received a letter dated XX/XX/XXXX ( page XXXX ) stating, Based on a review of your account, Synchrony Bank has lowered your credit line to {$6000.00}. Our decision was based in part on a scoring system that was used to predict your creditworthiness. ( see attachment 9 ) I have held this account since XXXX and therefore there is no need to predict my creditworthiness. I have a proven track record at Synchrony Bank. I also have a credit history extending back into the late XXXX. 

One of the stated reasons was a lack of Real Estate Secured Loan information. I bought a home in XXXX and paid off the loan approximately in XXXX. I also paid off two car loans during that same time period. If I do not have any secured loans now, this should NOT be counted as a negative. 

Another reason listed for the decision is Too many bankcards with high balances compared to credit limit. This factor is instantly created when one or more banks, such as Synchrony Bank, lower their customers credit limit down to an existing balance. The only factor that should matter is whether or not the customer has paid consistently and on time. My most recent XXXX XXXX Credit Report dated XX/XX/XXXX has no adverse information. All accounts are current, paid as agreed and never late. ( See attachment 2 ) On XXXX XXXX, XXXX, my XXXX score was XXXX and my Payment History is listed as exceptional. ( See attachment XXXX ) On XX/XX/XXXX, I received a letter dated XX/XX/XXXX stating that the Synchrony Bank is unable to approve your credit limit increase request [ back to {$10.00}, XXXX ] at this time. The reasons for this decision are listed below : Insufficient experience at your current credit limit. [ now {$6000.00} ] ( See attachment 11 ) This reason is verifiably false and thus only serves as a pretext to deflect from an agenda of illegal discrimination in violation of the Equal Credit Opportunity Act. ( See Synchronys Environmental, Social, and Governance ( ESG ) statement < https : //investors.synchrony.com/esg > and Diversity, Equity, and Inclusion ( DEI ) statement < https : //www.synchrony.com/about-us/diversity > ) I have held this account since XXXX with a credit limit of {$10000.00} since at least XXXX ( I believe it has always been {$10000.00} since opened ). 

Lastly, on XX/XX/XXXX, I mailed a check for {$500.00} as a payment on my account because my remaining credit was close to my new credit limit. I use this card for gasoline, groceries, and online purchases. Inexplicably, my payment did not post to my account until 10 DAYS LATER on XX/XX/XXXX. This caused me great embarrassment at XXXX on XX/XX/XXXX when my card was declined for a {$74.00} purchase. ( See attachment XXXX ) This has NEVER happened to me in my life and should NOT be happening to me now considering my exceptional Credit History! ( See attachment XXXX )

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