Synchrony Financial Credit Card Complaint

Credit line increase/decrease

Synchrony Financial Credit card department,

Credit line increase/decrease South Carolina

I have - credit cards : TJ Maxx, Wal- Mart and Belk , all through Synchrony Bank . -/-/-, Belk decreased my credit limit from $900.00 to $860.00 based on my credit report and not the fact that I had not been late and was paying on time. Then -/-/-, I experienced a financial setback for which I spoke with a customer service representative for Wal-Mart/Synchrony Bank. The representative set up payment arrangements drafted from my checking account, and she advised me that my account would remain open as long as I made payments. Then come to find out, customer service lied because my account was closed and turned over to a collection agency. I called them, sent a letter, and informed them about their lying business practices. I complained about them turning this over to a collection agency, which now has a negative hit on my credit, especially after I was making timely payments. Wal-Mart/Synchrony Bank took the account from the collection agency, and I began making my payments at the store. However, they refused to re-open my account even after I paid it in full.

-, -, I received an email copy of my statement saying my available credit was $9.00. So I called the next day about my emailed statement, for which no one could answer but advised I would be getting a letter in the mail stating why they decreased my credit. I believe they knowingly chose to do so to adversely affect my credit score. I pay my balances down below the 30 % so my credit score can increase, and two weeks later Synchrony Bank makes this decision regardless of me being a member for years, paying on time, and having multiple accounts/cards. I truly believe Synchrony Bank, formerly GE Capital, is back to its old, unfair practices greatly affecting people who are working hard trying to maintain their credit scores. The reason I know this is unfair, they have reduced my credit line twice within a year 's time. Why would my account be flagged so, especially with me paying on time? How could a bank possible justify going from $900.00 to $170.00 within a year 's time and the customer has been making on-time payments.

Synchrony Financial customer in South Carolina
Apr 22, 2016

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with explanation

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