I recently posted how my Sams Buss card had been blocked and I wasn’t able to gain access to my account online and how I had to call in and got zero explanations of why this happened.
Well, here’s the clue why that happened, it seems Synchrony Bank sent me the letter below
Wow oh Wow....The process only took me 2 years to get this card, because the reps had zero clue what they doing with apping for this card. The rep who helped me open the card, at least I felt knew what he was doing, But does Synchrony bank know what they are doing? They just pulled my companies credit report for a CLI from $6k to $12k. For them to ask for my SS, after 1 year?
Oh man. Thanks for sharing.
@sccredit wrote:It is still non-PG but all banks are required by law to obtain Beneficial Ownership information on any business they do business with. American Express just required it on a Corporate card program for a $40mm business. Same with Chase (yes, we did both programs). They didn't block the account like Sync did to you but I am sure they eventually would have if they didn't get the information they requested.
Sorry your wrong, the account manager stated that the bank has the right to review and ask for a PG on the card. She stated that would happen in the intial app itself and couldnt answer why they have asked for it a year later. I asked if other owners had non PG cards, she said yes. Again couldnt answer why they are asking for it now after a year.
This card is becoming useless now that Synchrony is playing games. Seems my purchase of $163 at a non Walmart or Sams is now flagged as possible fraud? Before that were Business purchases of $275.31, which were paid in full within the statement balance period. Again at Non Walmart or Sams. Seems I am not the only dealing with this garbage.
@AzCreditGuy wrote:
@sccredit wrote:It is still non-PG but all banks are required by law to obtain Beneficial Ownership information on any business they do business with. American Express just required it on a Corporate card program for a $40mm business. Same with Chase (yes, we did both programs). They didn't block the account like Sync did to you but I am sure they eventually would have if they didn't get the information they requested.
Sorry your wrong, the account manager stated that the bank has the right to review and ask for a PG on the card. She stated that would happen in the intial app itself and couldnt answer why they have asked for it a year later. I asked if other owners had non PG cards, she said yes. Again couldnt answer why they are asking for it now after a year.
This card is becoming useless now that Synchrony is playing games. Seems my purchase of $163 at a non Walmart or Sams is now flagged as possible fraud? Before that were Business purchases of $275.31, which were paid in full within the statement balance period. Again at Non Walmart or Sams. Seems I am not the only dealing with this garbage.
I am going strictly off of the letter you first posted, which nothing to do ith a PG and is not legally binding as a PG. "Wrong" or not the letter you posted is a request to fulfill Beneficial Ownership disclosure requirements.
Now if the rep says they are now requesting a PG thats entirely different and, in my opinion, a terrible business practice. Additionally, if they are going to flag every non-Sams purchase as fraud, I agree the card is worthless.
