Synchrony Financial Credit Card Complaint

Credit line increase/decrease

Synchrony Financial Credit card department,

Credit line increase/decrease North Carolina

I have paid my bills on time and have a good relationship with my creditors. However, my new Amazon Store Credit Card issued by Synchrony Bank lowered my available credit by 20 % in less than 30 days with little or no warning until a letter was mailed explaining the reduction after the fact. A reduction of my available credit has caused an increase in my overall credit utilization. Such constructive activity by the credit issuer adversely affects my credit rating where my credit utilization will remain high based on the extreme low credit limits placed by Synchrony Bank. If Synchrony Bank would have left my initial credit limit, then my credit utilization would not be affected, and my credit score would remain steady, secure and much higher than it is today. I could understand if I was in default or habitually behind in payments, which I was not. Constructive credit practices by lenders that affect credit reporting without recourse or corrective measures should be unlawful or illegal especially when there is nothing wrong with the credit account.

Synchrony Financial customer in North Carolina
Sep 28, 2016

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with explanation

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