Synchrony Financial Credit Card Complaint

Credit line increase/decrease

Synchrony Financial Credit card department,

Credit line increase/decrease Minnesota

Earlier this year I applied for a Walmart Credit Card through Synchronicity Bank and was approved with a credit limit of $1000.00. Today I received a letter from Synchronicity Bank stating that my credit limit has been cut from $1000.00 to $250.00 ( which also happens to be the balance on the card ). Now I did have another account that had a delinquent payment, but that account was caught up and current the next month. So, yes my credit score had fallen a bit, however, another reason my score had fallen was because Synchronicity Bank decided to close an account through - that I did n't ask for, did n't apply for and never used that had a $0.00 balance. Because it was " closed by the creditor '' hurt my score. I have always paid significantly more than the minimum payment due and had no issues with my WalMart credit account. They cut my credit limit by 75 % using a score from 4 months ago and adding the insult " your score has likely not changed significantly since the date of this score ''. I searched the internet to find out what a significant change in my score would be and found out that an increase or decrease or - is significant. Well, since the date of the score they used and basically saying that I would n't be able to raise my score.. I have increased my score by -. I was so insulted by the actions by Syncronicity Bank that I called and cancelled my card only to be insulted by the customer service agent I was talking to. I decided to close this card before they used a credit score from 10 years ago to close the card and have another " closed by credit granter '' mark on my record.

Synchrony Financial customer in Minnesota
Dec 21, 2016

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with explanation

Consumer disputes how Synchrony Financial handled their complaint

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