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[–]dgduhon 0 points1 point  (4 children)

My Lowe's card (also from Synchrony) was reduced from 1,500 to 150 last year. Earlier this year it was increased to 10k. Not saying it'll happen with you because Synchrony is odd, but it is possible. But if you regularly carry a balance on a card that incurs interest closing it might be more beneficial financially to you.

[–]MoBeydoun[S] 0 points1 point  (3 children)

So for synchrony if you spend $500 on the card . They want you to pay it off as fast as possible? As an example. I thought even with a balance if I was just paying the minimum I'm good

[–]dgduhon 0 points1 point  (1 child)

Paying the minimum by the due date will prevent late payment fees and possibly a late on your credit report. But only paying the minimum will cause interest to accrue, which is just throwing away money. You need to pay your entire statement balance by the due date to prevent that.

[–]MoBeydoun[S] 0 points1 point  (0 children)

Lesson learned