Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #5341160
Complaint Overview
Complaint ID: 5341160
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: Alabama
ZIP Code: 350XX
Date Received: 2022-03-19T12:00:00-05:00
Date Sent to Company: 2022-03-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I received a letter from Synchrony Bank regarding my XXXX account, they advised that my credit limit was being lowered from {$1300.00} to {$320.00}. I emailed the companys president, XXXX XXXX, to advise of my unblemished payment history with the synchrony account and to see if my credit limit could be restored. My personal research revealed that the company will lower your credit limit if your credit score drops, to mitigate risk. I am currently in debt consolidation, and it was imperative that I have the positive reporting items on my credit profile. When Synchrony dropped the credit limit on the sweetwater account, the credit usage went from 20 % to 100 % usage, therefore exacerbating my credit issue. On XX/XX/2022, I received a response from XXXX XXXX, a representative of the company. She advised that they would take a look into whats going on. Approximately two weeks later, I received notification that the synchrony sweetwater account was now closed. In XX/XX/2022, the company reported to the credit bureaus that the card was actually over the credit limit. It was reported that the limit was {$300.00} even though the mailed correspondence said the new limit was {$320.00}.
Frequently Asked Questions
What is Complaint #5341160 about?
Complaint #5341160 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 2022-03-19T12:00:00-05:00.
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.