Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #4338639
Complaint Overview
Complaint ID: 4338639
Company: Synchrony Financial
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-Issue: Their investigation did not fix an error on your report
State: California
ZIP Code: 95023
Date Received: 2021-04-29T12:00:00-05:00
Date Sent to Company: 2021-05-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been using XXXX for a while now and originally I received a line of credit of {$2000.00} but come to find out in XX/XX/2020 they decreased my credit line from what seems to me like no reason. The only answer I received from customer service is that the bank told XXXX to decrease my credit line based on my credit history mind you I maintained a positive historical balance with XXXX. Instead of making the determination based on just my borrowing power from XXXX, I was informed that the bank looked at all of my credit history to determine a decrease of my credit line. What doesn't make sense is that I've had the credit utilization at less than 60 % in order to continue building credit history. All of a sudden my credit line got decreased which seems to me is for no appropriate reason other than that I am a risky borrower which based on my payment history has been more positive than negative looking at my usage with XXXX. So since XXXX is under new management of a new bank beginning in XX/XX/2020, I was told all my historical data with XXXX does not count except starting from XX/XX/2020, which is also setting up consumer 's for failure because the whole idea of leaving an account open is to improve credit history not get reset every time a company is under new management. Please help.
Frequently Asked Questions
What is Complaint #4338639 about?
Complaint #4338639 was filed against Synchrony Financial regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2021-04-29T12:00:00-05:00.
How did Synchrony Financial respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against Synchrony Financial?
Yes, visit the Synchrony Financial company profile at readthecomplaint.com/company/synchrony-financial to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.