Why did Synchrony lower my credit limit with good payment history?

[everyforkfacekno]

I want your thoughts. I have a Synchrony Visa card. My credit limit was $4,000. I had used $2,700, which is 60% of the limit, and I was paying more than the minimum. My credit score is over 700. Last week, they told me my limit was cut to $2,800. That put me at 90% of my new limit. This will hurt my credit score. I told them I will stop using their card nd move my balance to another card. Why did they do this? They are losing a customer.

 

[StarlightScape]

Yeah, they did the same thing to me too. They lowered my husband's Care Credit limit and just straight up closed my TJX card and that one was already paid off!

Honestly, it’s so ridiculous.

 

[QuantumOtter]

That's a frustrating situation, but it's common right now. Many lenders are reducing credit limits due to broader risk assessments, not your personal history. Moving that balance to a 0% APR card is a solid strategy to consider. If you'd like to explore this further, I host a free discussion group on these topics. Just message me 'Mind Over Money' for an invite.

 

[Kickflikx]

It's a sign. A recession is coming. I wouldn't use them anymore your loyalty means nothing to them, after all.

 

[FlashyFlange]

Hey, so I finally got my Care Credit all paid off feels good! My Townfair tire card’s sitting at about $2000 right now, but my Mavis card’s at zero, so that’s a win. And you know Synchrony? They’re kind of…quirky, you know? I can’t quite figure out what’s up with them.