First of Synchrony Bank has become WAY too big. I cannot believe that they control SO MANY credit lines!
and I am certain the list is much longer.
I am in the process of paying off debt, lowering my balances below 50% of credit line limits to help strengthen my score, only to have Synchrony Bank lower the credit lines to just above the remaining balance to keep the overall percentages higher!
Here is just one example, although they have done this to me on EVERY SINGLE ACCOUNT I have with them...
I have had a credit limit of $1200 on my Chevron/Texaco account for several years. Until recently, I have carried the balance over $1000, but just 30 days ago, paid off the entire balance as I use the card at the pump regularly because of convenience and because of the recent scams of "scam readers" at the pumps.
In less than a month, Synchrony has dropped my credit line to $260 when I had a $200 balance, which in California is about a month's worth of gas.
This practice cannot be right, especially with the fact that they have done this to every single one of my accounts with them where I have paid the balances down to less than 50% of the limits, where now, due to their actions, I am back to where I started, ALL of my balances are again at nearly 90% of my limits.
THANKS FOR NOTHING SYNCHRONY BANK!
I am now going to do every thing in my power to bring action.
Product or Service Mentioned: Synchrony Bank Credit Card.
Reason of review: Bad quality.
Preferred solution: Let the company propose a solution.
Synchrony Bank Cons: Totally disgusted with there strong arm tactics, Unethical.