Synchrony bank USA credit card just went to barclays bank, UK, GAVE ALL MY PERSONAL INFO TO OTHER COUNTRY BANK, WITHOUT MY PERMISSION,
CAN I CLOSE MY CREDIT CARD ?
CAN THAT LOW MY CREDIT SCORE?
Yes, you can close your credit card with Synchrony Bank if you feel uncomfortable with the transition of your account to Barclays Bank without your permission. However, closing a credit card can have an impact on your credit score, and it’s important to understand how.
Closing a Credit Card: Impact on Credit Score
When you close a credit card, it may affect your credit score in several ways:
Credit Utilization Ratio: One of the biggest factors in your credit score is your credit utilization ratio, which is the amount of credit you're using compared to your total available credit. Closing a credit card reduces your total available credit, which can increase your utilization ratio, potentially lowering your score.
Credit History Length: The length of your credit history is another key factor. Closing a card can reduce the average age of your credit accounts if the card you’re closing has been open for a long time.
Credit Mix: Having a mix of different types of credit (such as credit cards, loans, etc.) can help your score. Closing a card might reduce the diversity of your credit mix.
Steps to Take:
Check Your Credit Report: Review your credit report to see how closing this account could impact your credit score.
Contact Barclays or Synchrony: If you feel uncomfortable with the transition, you can discuss your options directly with the banks involved. They might offer an alternative solution, like keeping the account but under a different bank or program.
Pay Off the Balance: Before closing any credit card, ensure you pay off the outstanding balance to avoid any negative impact.
Consider Alternatives: If maintaining your credit score is important, you may want to keep the card open but avoid using it, or transfer the balance to a different card.
If your personal information transfer was done without adequate transparency, you may also want to contact the RecoveryHacker101@gmailcom (RH) or a similar authority to file a complaint.
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