Credit card -- Problem with a company's investigation into an existing problem -- Complaint #8651095

Complaint Overview

Complaint ID: 8651095

Company: Synchrony Financial

Product: Credit card

Sub-Product: Store credit card

Issue: Problem with a company's investigation into an existing problem

Sub-Issue: Difficulty submitting a dispute or getting information about a dispute over the phone

State: Colorado

ZIP Code: 802XX

Date Received: 2024-03-28T12:00:00-05:00

Date Sent to Company: 2024-03-28T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I've been working with Synchrony Bank regarding my Care Credit card since XX/XX/XXXX. When I contacted them in XXXX about the missed payment on my credit report from XX/XX/XXXX, they stated they didn't see it but would look into it once I paid my bill. At the time, I had a balance of {$610.00} out of my {$4400.00} credit limit. I submitted my full payment on XX/XX/XXXX over the phone, and they stated they would remove the incorrect missed payment, but it would take 1-2 billing cycles to show up. I reached out to them again on XX/XX/XXXX after checking my credit report to see it was still there, and was told they couldn't find the record of my request. I called again the next day on XX/XX/XXXX because I saw the missed payment on my credit report was moved from XX/XX/XXXX to XX/XX/XXXX, which was still incorrect. I was finally able to reach a representative named XXXX with their escalations team, and he told me he would get it removed. The next day, XX/XX/XXXX, I received a notification that my credit limit was decreased from {$4400.00} to {$250.00}. I called them back and spoke with a representative named XXXX. She told me that I would receive a letter in the mail with an explanation, but it was because Synchrony uses a " scoring system '' to determine credit limits. She also stated that if I wanted to increase my credit limit again, it would be a soft inquiry on my credit report. Today, XX/XX/XXXX, I have a letter in the mail from Synchrony bank stating " We have received your account in response to your credit bureau reporting dispute.. This serves as confirmation of the account status listed below as of the date of this letter. No delinquencies reported ''. I firmly believe that this is retaliation and an unethical practice. I worked tirelessly with Synchrony to have incorrect information removed from my credit report and they responded by decreasing my credit limit by over {$4000.00}, knowing that having less available credit would still effect my credit score. When I got this card in XX/XX/XXXX, it was to pay for a XXXX I needed for my cat. I paid the credit card off, and have used it incrementally for dentist appointments without a single missed payment. The fact that I was actively using the card and paying off my balances without being late has shown that I am a trustworthy client that is still helping them make money off of the interest. There is no other reason that my credit limit was that significantly decreased, the exact same day as I resolved my previous dispute, other than retaliation. This is an unethical, unfair, and predatory punishment, which is why I am reporting Synchrony.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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