It's likely that Synchrony Bank lowered your credit limit because your recent credit history may show that you're a higher-risk customer than you were in the past. That might mean you made a late payment, missed a payment, went over your credit limit (which will increase your utilization), or your annual income decreased. Maybe you took on a significant amount of new debt recently. Any of these - and other actions like this - can lead to a credit limit decrease.
Synchrony and other card issuers do periodic risk assessments of customers, so Synchrony may have done that to you recently. If you'd like to get your limit raised, aim to lower your credit utilization and work on making minimum payments on-time every month. You will slowly but surely become more creditworthy.
This recently happened to me and my credit score went down by 29 points! They informed me that they do a credit check every 90 days and that is why. My score was a little lower than when I opened it because I had been shopping around for a mortgage. When I called them they wouldn't do anything about it. Now I'm worried that my score has gone down so much that when they check again in 90 days they will decrease my limit again and my score will go down again! It's a domino effect and it's highly unethical.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.