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How to cancel a Synchrony credit card
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If you own a cobranded Synchrony card you’d like to cancel, you’ll have to call the number on the back of your card or write a letter. This is standard practice for most issuers, who know that talking to a customer service representative means the bank can entice you with new terms for your card.
If you’re set on canceling, you can decline any offers to continue with your card cancellation.
Steps to cancel your Synchrony credit card
Cancel your Synchrony card in three steps:
- Pay off your balance. You can’t close your Synchrony credit card if it carries a balance. If you can’t pay it off now or you want to pay it off over the coming months, consider transferring your balance to another card.
- Redeem your rewards. If you don’t use your rewards, you’ll lose them on closing your account.
- Contact customer service. Call the number on the back of your card or 1-877-295-2080 when you’re ready to cancel.
How to call Synchrony to cancel
When you call in to cancel your Synchrony card, expect to hear new offers that can include a lower APR, an interest-free period or other bonus. If the offers sounds good, you may want to consider closing a different card and keeping your Synchrony card.
To cancel your card, decline any offers you get and be ready to:
- Report your credit card and account information.
- Explain why you want to close your Synchrony card, even if it’s simply “I don’t want it anymore.”
- Write down the representative’s name and ID as a record of your call.
When ready, call the number on the back of your card or 1-877-295-2080.
Will canceling my Synchrony credit card affect my credit score?
Canceling your Synchrony card could affect your credit score. Because of that, you should consider:
- Your overall credit utilization. Say you have a 20% credit utilization across all cards, with your Synchrony card giving you 10% or less of your overall credit line. In this case, you should see almost no impact on your score. But if you have higher utilization — for example, more than 30% — you could see your credit score drop.
- What you can do. Get another card. The new card’s credit limit will lower your overall credit utilization, which should positively affect your credit score.
- Whether you plan to apply for a loan soon. If you do, know that canceling your card could potentially lower your credit score. A lower credit score could result in an application denial or a higher interest rate on your loan.
- What you can do. Wait until your loan is approved. After that, you can close your Synchrony card without affecting your loan conditions.
- Your name and address.
- Your credit card number.
- The date of your cancellation and the name and ID of the representative you talked to.
- A request for an account closure confirmation letter.
What happens after I’ve canceled my Synchrony credit card?
After you’ve spoken to a representative, consider sending a credit card cancellation letter to Synchrony. A letter can help you if you later find an error on the bank’s side or it fails to close your account.
Your letter should include:
Send your letter to:
PO Box 965030
Orlando, FL 32896-5030
Now that you’ve wrapped up closing your Synchrony credit card, compare your credit card options to find the best you’re eligible for.
Looking for a new card?
Closing your Synchrony credit card could take you a step closer to a stronger card that better fits your needs. A new card can positively affect your credit score or simply provide rewards on your everyday spending.
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