Credit card -- Trouble using your card -- Complaint #9042761
Complaint Overview
Complaint ID: 9042761
Company: Synchrony Financial
Product: Credit card
Sub-Product: Store credit card
Issue: Trouble using your card
Sub-Issue: Credit card company won't increase or decrease your credit limit
State: Florida
ZIP Code: 32547
Date Received: 2024-05-18T12:00:00-05:00
Date Sent to Company: 2024-05-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have XXXX cards with synchrony. Tj Maxx, Amazon and park west. I have not used my tj Maxx card in many months, never missed a payment on any card, never make minimum payments and pay them down regularly. I used my tj maxx card for {$110.00} that had a, I think {$1200.00} limit and then the next day they reduced my limit to {$120.00}. This made my credit utilization basically 100 %, it was {$100.00} I just paid it off. They also did this to my Amazon card. It had a {$5000.00} limit. There was a balance of I think {$2400.00} on it which I pay regularly, large payments on. I spent {$300.00} and the next day they reduced my limit to {$2800.00}. With a {$2700.00} balance, this put my card utilization at basically 100 %. How is this legal? How do they not have to give you 30 days notice so that it's not damaging to your credit. The letter they sent said I had high balances on my cards, I do on one because it's interest free and I had just paid for a vacation on another so it was high for a few days until I made a payment. By allowing them to do this without giving any notice based on high card limits for other cards it creates an incredibly damaging chain reaction. So what they did is put XXXX cards at 100 % what if that decision caused my other card companies to do the same so then everyone reduces my limit to what I owe, now all my cards are at 100 % usage with out me even having notice or an opportunity to pay anything down and it destroys my credit. This is completely unethical. They should be required to give 30 days notice. Like hey we're reducing your limit to what you owe in 30 days so you need to pay down what you can so it doesn't have a negative impact on your credit. Is there someone that can fight for this change. People work a long time to build their credit and some store card can just ruin it all in a day. None of my other card companies have lowered my limits because I always pay but that doesn't mean that this hasn't impacted my credit because this happened without giving me the notice or opportunity to address it before it could. Please help me and every other hardworking american not be a victim of this terrible business practice. What can I do? Who can I talk to about making this change? 30 days is a reasonable request.
Frequently Asked Questions
What is Complaint #9042761 about?
Complaint #9042761 was filed against Synchrony Financial regarding Credit card specifically about Trouble using your card. It was received by the CFPB on 2024-05-18T12:00:00-05:00.
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 card) 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.