how forgiving is synchrony bank

What Banks are "forgiving" after Chapter 7?

reddit.com › r › Bankruptcy › comments › 197baax › what_banks_are_forgiving_after_chapter_7

IIRC, all of them except Wells Fargo. Answer from AlanShore60607 on reddit.com

ficoforums.myfico.com › t5 › Credit-Card-Applications › Synchrony-forgiveness › td-p › 5645893

Synchrony forgiveness? - myFICO® Forums - 5645893

June 14, 2019 - Based on collective DPs, it appears ... ago, I had like 10+ Synchrony store card accounts and 2 MCs with 2 unpaid Synchrony COs still reporting. Yes, they forgive....

Thecreditpeople

thecreditpeople.com › credit › synchrony-bank-charge-off-what-it-means-and-next-steps-to-take

Synchrony Bank Charge-Off: What Happens & How Should You Respond?

If it’s with a collector, demand proof they legally own the debt. Never admit it’s yours over the phone. Paying won’t erase the charge-off (see 'will synchrony remove a charge off if i pay?'), but it stops further damage. Watch for 1099-C tax forms if they forgive over $600-that’s taxable income.

DebtWave

debtwave.org › home › credit card › synchrony bank credit card debt hardship programs

Synchrony Bank Credit Card Debt Hardship Programs

February 20, 2025 - ... Most credit card companies do not have a formal forgiveness program. In order for a creditor to forgive a portion of your debt, you would need to be severely delinquent. Usually more than 6 months behind where your credit is ruined.

reddit.com › r/bankruptcy › what banks are "forgiving" after chapter 7?

r/Bankruptcy on Reddit: What Banks are "forgiving" after Chapter 7?

January 15, 2024 -

So I'm sure I'm not the first person to ask this, but I have credit cards with some major banks. I have no choice but to include them in my chapter 7. I wanted to know how forgiving they are if I ever try to open an account again in the future.

These are the banks:

Chase
Wells Fargo
Citi
Bank of America
Synchrony Bank
Sofi
Capital One

Top answer

1 of 7

IIRC, all of them except Wells Fargo.

2 of 7

Capital One Synchrony is definitely not forgiving, I burned them in CareCredit. They approved me for PayPal credit and closed it 2 months later. I waited and applied for the PayPal cashback Mastercard, approved and then closed within a few days for the same reason.

Synchrony

synchrony.com › blog › bank › common-questions-student-loan-forgiveness-plan

Student Loan Forgiveness Updates: Common Questions Answered

June 17, 2025 - A major win: 100% of unpaid interest is covered, so your balance won’t grow if your payments fall short. For borrowers with smaller original loan amounts ($12,000 or less), full forgiveness can come after just 10 years.

reddit.com › r/credit › synchrony bank lowered my balance from $3k to $250.

r/CRedit on Reddit: Synchrony bank lowered my balance from $3k to $250.

June 6, 2025 -

I was pissed as fuck. Seriously?

So I put $1500 on the card initially with 6 months of no interest. I paid it off in 4 months just to stay on top of it.

I get an email today and they lowered my balance from $3000 to $250.

250 fucking dollars.

Wtf can you get with that? That's just a couple of oil changes ffs.

I closed the card right away. No point in having it anymore honestly. But maybe that was what they wanted.

Top answer

1 of 5

164

They’re notorious for doing that. I had 5 of their cards until April. Now I only have one open with them. They dropped it from $20k to $250. Meanwhile Citi and Capital One gave me increases. I think they’re just pulling their risk level down.

2 of 5

102

I had a lowes card through synchrony with a $5000 limit my balance was around $160, i put a rental car on one of my cards which took up probably 40% and didn't immediately pay it off and carried a balance for approximately 3 months. That dropped my credit some and as a result synchrony closed my account entirely eliminating 5k off my total limit which also shot up my utilization over 30% and tank my credit 70 points. Fuck synchrony!

SoloSuit

solosuit.com › posts › synchrony-bank-hardship-program

What is Synchrony Bank's Hardship Program? | Solo Blog

For example, the bank may evaluate credit limits, accept smaller minimum payments, waive fees, adjust a payment schedule, or lower interest rates for a short period to help you afford your debt installments. Not all lenders offer this program to debtors. It is also less advertised than debt management plans and involves no intermediaries during the negotiations. Synchrony Bank is one of the many financial institutions that offer several credit hardship plans under this program.

Consumer Recovery Network

consumerrecoverynetwork.com › debt bytes blog › resolving debt with synchrony bank

How to get lower payments and negotiatie settlement with Synchrony Bank

September 7, 2021 - I fully understand it is on me to keep an eye on my statements, and I wasn’t, but do I have any recourse to correct it, or at least improve it, this at this point? I am not expecting them to forgive the balance, but at least get it below the card’s max limit would be helpful. ... You can call Synchrony and ask about waiving some of the fees, but I am not optimistic they will do it.

Miami Herald

miamiherald.com › home › synchrony bank

Synchrony Bank 2024 Review | Miami Herald

September 18, 2024 - You won’t find a checking account option with Synchrony Bank. But as previously mentioned, it features products to help you grow your money. High-Yield Saving Accounts: You can earn a 4.75% APY on your money without incurring monthly service fees. This account is also free of minimum deposit and balance requirements.

Find elsewhere

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LendEDU

lendedu.com › blog › synchrony-bank-review

Synchrony Bank 2025 Review: Competitive High-Yield Savings and CD Rates

Synchrony – Banking

Synchrony Bank offers competitive high-yield savings and CD rates with no minimum deposit or monthly fees. We think it’s ideal for savers seeking strong returns and easy online access, though it lacks checking accounts and branches.

Rating: 4.4

Namso Gen

namso-gen.co › home › how forgiving is synchrony bank?

How forgiving is Synchrony Bank?

October 26, 2023 - Overall, Synchrony Bank is known to have some flexibility and understanding when it comes to their customers’ needs. It is important to note that forgiveness can vary based on individual circumstances, so it is always best to contact Synchrony Bank directly to discuss any issues you may be facing.

ConsumerAffairs

consumeraffairs.com › home › finance › banking › best credit cards

Synchrony Financial Reviews 2025: Cost, Pros & Cons

It allows patients to pay off the amount over time with convenient financing options instead of worrying about how to pay for unexpected costs out of pocket. ... Synchrony Bank offers high-yield savings, money market accounts and CDs all without account minimums or fees.

Address US

(1.1)

reddit.com › r/credit › any recourse to have credit hit forgiven from close synchrony account?

r/CRedit on Reddit: Any recourse to have credit hit forgiven from close synchrony account?

June 1, 2022 -

TLDR: do I have any recourse to have credit hit removed from when synchrony closed my account without warning after my payments didn’t go thru cause of my mistake

I got this Amazon synchrony account to build credit before learning that that was a bad idea (now @ discover). I set it up with one bank account then switched banks, so my payments wouldn’t go thru and I couldn’t figure out why, didn’t realize it was linked to the old account. Synchrony very quickly closed my account, and even after I paid balance they kept that money and my deposit. They did not contact me once to let me know there was a problem. Support is ridiculous, they send my requests to teams who email me back with cryptic not gonna help you messages weeks later, but phone support can’t help.

A. Deleted

B. I got no notice that they were going to close my account. I mean, whatsoever. The time from when I had a balance to when I paid it I believe was less than a month. I did eventually pay it. I did also attempt four times to pay it (I just didn’t figure out why it didn’t go through, and I never got notifications that they failed to go through. I would just go and see I still had a balance). Disputing this and asking them to forgive the credit hit was unsuccessful but they won’t say why.

So: suggestions for how to get my money back, but mainly suggestions for how to mitigate damage to my credit score?

Top answer

1 of 1

do I have any recourse to have credit hit removed from when synchrony closed my account without warning after my payments didn’t go thru cause of my mistake No. They have the right, as do you, to close the account at any time for any reason. even after I paid balance they kept that money and my deposit You're deposit for the secured deposit will be returned via check. As for your payment, they will keep that since it was to pay the balance you owed.

Better Business Bureau

bbb.org › us › oh › kettering › profile › credit-cards-and-plans › synchrony-0322-5001136 › complaints

Synchrony | BBB Complaints | Better Business Bureau

Reinstatement or review of my account and transfer profile status. Compensation of $5,000 for the emotional distress, reputational harm, and inconvenience caused. I ask that this case remain open until a fair and meaningful resolution is reached.

Top Class Actions

topclassactions.com › home › synchrony bank ‘penalizes’ veterans for leaving active duty, class action claims

Synchrony Bank 'penalizes' veterans for leaving active duty, class action claims

June 14, 2024 - “Rather than permanently forgiving the interest and fees, Synchrony retroactively takes back this benefit by imposing an interest rate penalty on servicemembers after they leave active duty and return to civilian life,” the Synchrony Bank ...

reddit.com › r/credit › what companies are most forgiving to bad debt?

r/CRedit on Reddit: what companies are most forgiving to bad debt?

October 6, 2019 -

so when i was younger and much more stupid i racked up some credit card debt with capital one who ended up sending it off to collections and was picked up by Portfolio recovery. the debt is $1222. i was just wondering if they were a good company for pay for deletion and if capital one was forgiving. they recently let me open up a bank account with them and ive had no issues.

i have another debt for $861 now owned by “portfolio recovery a”. I THOUGHT this was my amazon / synchrony card but its saying original creditor is comentity capital bank and i have ZERO idea of what that could be. theres no extra information.

im new to this whole credit thing but those two debts are listed under different sites but also different on credit karma. for example:

comentity capital bank credit karma: equifax - “portfolio recovery a”($861)

Equifax site: no record of it in collections

transunion: no record

capital one bank

credit karma: transunion - portfolio recovery($1222 )

transunion site: portfolio recovery ($1222)

equifax - no record

experian - both are there

i understand bad credit can be on 1 bureau and not another by why does credit karma not match up.

are synchrony/ amazon and capital one forgiving when reapplying after owing them? would really not want those bridges to be burned forever.

i also heard portfolio recovery can be good at pay for delete. do they offer good percentage payment plans aswell?

Top answer

1 of 4

Synchrony and Cap 1 are both known to be forgiving. Portfolio Recovery is known to delete upon payment.

2 of 4

Capital One. Still owe em a very good chunk of money

DebtWave

debtwave.org › home › synchrony credit card debt relief

Synchrony Credit Card Debt Relief | DebtWave

February 19, 2025 - In most cases, clients combine their Synchrony credit cards with other credit cards to pay off all their debt. ... Most credit card companies do not have a formal forgiveness program. In order for a creditor to forgive a portion of your debt, you would need to be severely delinquent.

Forbes Advisor

forbes.com › advisor › banking › synchrony-bank-review

Synchrony Bank Review 2025 – Forbes Advisor

Synchrony Bank

Synchrony Bank offers competitive savings rates, no monthly fees and flexible access to funds through ATM cards and check-writing features. It also offers retirement savings options like individual retirement accounts (IRAs), certificates of deposit (CDs) and money market accounts. Synchrony Bank offers competitive savings rates, no monthly fees and flexible access to funds through ATM cards and check-writing features. It also offers retirement savings options like individual retirement accounts (IRAs), certificates of deposit (CDs) and money market accounts. While it doesn’t offer checking ac

Rating: 4.2

Syf

apply.syf.com › cs › groups › public › documents › et_tcdoc › e042828.html

Synchrony Bank

SECTION I: RATES AND FEES TABLE Zulily Credit Card ACCOUNT AGREEMENT · Interest Rates and Interest Charges

Bkforum

bkforum.com › forum › after-the-discharge › rebuilding-credit › 1031001-getting-a-card-that-you-burned-in-bk

Getting a card that you burned in BK? - Bankruptcy Forum Chapter 7 13 341 Meeting Credit Collections

Synchrony doesn't seem to have a blacklist and continues to issue cards to those that burned them in a bankruptcy. From what I understand, Synchrony "store" cards are issued with FICO scores even as low as 600 (and in some cases, lower but with toy credit limits).