I have a couple Department Store credit cards that are issued by Synchrony Bank. I have never been late or behind on any of these payments.
One day as I looked at one of the bills, I noticed that my credit limit had been lowered considerably. When I called the stores customer service, they told me that they had nothing to do with it and that it was Synchrony bank, so they gave me their number to call. When talking to their (synchrony) customer service, I got no where. They were extremely rude and condescending.
They told me that they "monitor" my credit report and they found it necessary to lower my credit limits. When I asked why would they do this if I was an outstanding customer to them (never being late, etc.), they didn't have an answer for me. And I asked them what gives them the right to stalk my credit especially when I was a good customer to them, no answer for that as well. So now, one by one, every store cc that is affiliated with Synchrony has had the credit limited lowered.
Not only is this extremely unfair to the consumer, but it's criminal! They lower the credit limit to about $20 above what your balance is. Therefore, this looks REALLY bad on your credit report! If your balances on your cc's are over a certain percentage of their limits, that ruins your credit.
How in the world can this be OK and legal? This company is ruining people's life's by screwing with their credit for absolutely NO reason!
Product or Service Mentioned: Synchrony Bank Credit Card.
Reason of review: Poor customer service.
Preferred solution: My credit limits back and my credit score untouched due to their unauthorized stalking of my credit!.
I didn't like: Totally disgusted with there strong arm tactics, Customer service is a sham.