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What about my HHGregg account after chain closes?

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

 

Are you paying interest?

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Not paying any interest yet. We bought a kitchen set and washer and dryer, not at the same time. Interest will hit March 2018 for the kitchen and December 2018 for the washer and dryer. I'm paying more than the monthly minimum now and don't expect to have any problem paying the full balance before the interest hits.

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Not paying any interest yet. We bought a kitchen set and washer and dryer, not at the same time. Interest will hit March 2018 for the kitchen and December 2018 for the washer and dryer. I'm paying more than the monthly minimum now and don't expect to have any problem paying the full balance before the interest hits.

 

Just pay if off before the interest starts accruing. The store's BK proceedings could take longer than that.

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My husband and I have a HH Gregg card with $0 balance. $8k credit limit. We're in the middle of building a house. Credit for mortgage lock in should be this month. Wondering what affect this will have on my score if they close the account. It will definitely increase my total utilization.

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If what happened with Circuit City which was backed by Chase when it folded is any indication... Any finance terms will be honored for the duration of the term. All store card accounts with no balance were closed within 60 days of filing. All Mastercard accounts were given the option to PC. I don't think HH has a Bankcard version. Plus Synchrony is not a PC'er. I'd expect all accounts without a balance or pre-existing finacne terms to be closed fairly quickly.

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My husband and I have a HH Gregg card with $0 balance. $8k credit limit. We're in the middle of building a house. Credit for mortgage lock in should be this month. Wondering what affect this will have on my score if they close the account. It will definitely increase my total utilization.

I take you have other cards with balances?

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My husband and I have a HH Gregg card with $0 balance. $8k credit limit. We're in the middle of building a house. Credit for mortgage lock in should be this month. Wondering what affect this will have on my score if they close the account. It will definitely increase my total utilization.

I take you have other cards with balances?

I have one. My husband doesn't have any. I'm assuming he will be fine. It's me I'm worried about. 😀

Edited by Lablover

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I chatted with their CS rep today for Synchrony, he did not even now of the HH Gregg stores all being shut down. I stand to lose a $12,000 credit line which I am not happy about.

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I chatted with their CS rep today for Synchrony, he did not even now of the HH Gregg stores all being shut down. I stand to lose a $12,000 credit line which I am not happy about.

Ouch!

 

At least it'll report as a good and closed account for 10 years.

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I chatted with their CS rep today for Synchrony, he did not even now of the HH Gregg stores all being shut down. I stand to lose a $12,000 credit line which I am not happy about.

Ouch!

 

At least it'll report as a good and closed account for 10 years.

 

Not necessarily....there is NO guarantee that a closed positive account will remain for 10 years, however it can report for that long. This has always been problematic for consumers, especially when those closed accounts are critical for age.

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I chatted with their CS rep today for Synchrony, he did not even now of the HH Gregg stores all being shut down. I stand to lose a $12,000 credit line which I am not happy about.

Ouch!

 

At least it'll report as a good and closed account for 10 years.

Not necessarily....there is NO guarantee that a closed positive account will remain for 10 years, however it can report for that long. This has always been problematic for consumers, especially when those closed accounts are critical for age.

True there is no guarantee on closed positive TL's but IME they do stay on for that long.

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

Dear ,

Thank you for being a loyal hhgregg credit cardholder. We want to let you know that hhgregg has begun liquidation of their stores and is no longer accepting the hhgregg credit card for purchases instore or online. Your account will remain open and you will continue to be protected against unauthorized charges. Please note the following important information:

  • Effective immediately, you can use your hhgregg credit card at any of the 2,000 and more retailers in the Synchrony Home Design program. Please visit www.mysynchrony.com/hhg for the list of retailers.
  • Stay tuned as we work to provide you with other locations where you can use your hhgregg credit card!
  • If you have an account balance, you will continue to receive billing statements from Synchrony Bank. You are responsible for making payments until the balance on your account is paid in full in accordance with your Credit Card Account Agreement. Synchrony Bank will continue to report your account to the credit bureau based on your payment history; hhgregg stores closing has no impact.

There are three easy ways to pay*:

  • Online at mysynchrony.com
  • By mail at Synchrony Bank, PO Box 960061, Orlando, FL 32896-0061
  • By phone, use the automated system by calling 1-866-396-8254**

Our Customer Service team will be happy to assist you with any questions and can be reached at the toll-free number 1-866-396-8254. We appreciate your business and apologize for any inconvenience.

Sincerely,

Synchrony Bank

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I chatted with their CS rep today for Synchrony, he did not even now of the HH Gregg stores all being shut down. I stand to lose a $12,000 credit line which I am not happy about.

Dear ,

Thank you for being a loyal hhgregg credit cardholder. We want to let you know that hhgregg has begun liquidation of their stores and is no longer accepting the hhgregg credit card for purchases instore or online. Your account will remain open and you will continue to be protected against unauthorized charges. Please note the following important information:

  • Effective immediately, you can use your hhgregg credit card at any of the 2,000 and more retailers in the Synchrony Home Design program. Please visit www.mysynchrony.com/hhg for the list of retailers.
  • Stay tuned as we work to provide you with other locations where you can use your hhgregg credit card!
  • If you have an account balance, you will continue to receive billing statements from Synchrony Bank. You are responsible for making payments until the balance on your account is paid in full in accordance with your Credit Card Account Agreement. Synchrony Bank will continue to report your account to the credit bureau based on your payment history; hhgregg stores closing has no impact.

There are three easy ways to pay*:

  • Online at mysynchrony.com
  • By mail at Synchrony Bank, PO Box 960061, Orlando, FL 32896-0061
  • By phone, use the automated system by calling 1-866-396-8254**

Our Customer Service team will be happy to assist you with any questions and can be reached at the toll-free number 1-866-396-8254. We appreciate your business and apologize for any inconvenience.

Sincerely,

Synchrony Bank

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At least Synchrony isn't closing the card. Back in the day, Montgomery Ward just closed down as did their card.

If anyone has a Sears card, plan to lose that account and consider another obtaining another account in place of it. Sears is "circling the drain".

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At least Synchrony isn't closing the card. Back in the day, Montgomery Ward just closed down as did their card.

 

If anyone has a Sears card, plan to lose that account and consider another obtaining another account in place of it. Sears is "circling the drain".

In the case of Sears if you have a Sears MasterCard it will be PC'd to a Citi TYP card. Citi already put TYP on the Sears MC. Sears store cards will be closed.

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

Dear ,

Thank you for being a loyal hhgregg credit cardholder. We want to let you know that hhgregg has begun liquidation of their stores and is no longer accepting the hhgregg credit card for purchases instore or online. Your account will remain open and you will continue to be protected against unauthorized charges. Please note the following important information:

  • Effective immediately, you can use your hhgregg credit card at any of the 2,000 and more retailers in the Synchrony Home Design program. Please visit www.mysynchrony.com/hhg for the list of retailers.
  • Stay tuned as we work to provide you with other locations where you can use your hhgregg credit card!
  • If you have an account balance, you will continue to receive billing statements from Synchrony Bank. You are responsible for making payments until the balance on your account is paid in full in accordance with your Credit Card Account Agreement. Synchrony Bank will continue to report your account to the credit bureau based on your payment history; hhgregg stores closing has no impact.

There are three easy ways to pay*:

  • Online at mysynchrony.com
  • By mail at Synchrony Bank, PO Box 960061, Orlando, FL 32896-0061
  • By phone, use the automated system by calling 1-866-396-8254**

Our Customer Service team will be happy to assist you with any questions and can be reached at the toll-free number 1-866-396-8254. We appreciate your business and apologize for any inconvenience.

Sincerely,

Synchrony Bank

I got the same message - never was able to pull up the list of retailers from that link. Do you know which retailers will accept this?

 

 

Sent from my iPhone using Tapatalk

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

Dear ,

Thank you for being a loyal hhgregg credit cardholder. We want to let you know that hhgregg has begun liquidation of their stores and is no longer accepting the hhgregg credit card for purchases instore or online. Your account will remain open and you will continue to be protected against unauthorized charges. Please note the following important information:

  • Effective immediately, you can use your hhgregg credit card at any of the 2,000 and more retailers in the Synchrony Home Design program. Please visit www.mysynchrony.com/hhg for the list of retailers.
  • Stay tuned as we work to provide you with other locations where you can use your hhgregg credit card!
  • If you have an account balance, you will continue to receive billing statements from Synchrony Bank. You are responsible for making payments until the balance on your account is paid in full in accordance with your Credit Card Account Agreement. Synchrony Bank will continue to report your account to the credit bureau based on your payment history; hhgregg stores closing has no impact.

There are three easy ways to pay*:

  • Online at mysynchrony.com
  • By mail at Synchrony Bank, PO Box 960061, Orlando, FL 32896-0061
  • By phone, use the automated system by calling 1-866-396-8254**

Our Customer Service team will be happy to assist you with any questions and can be reached at the toll-free number 1-866-396-8254. We appreciate your business and apologize for any inconvenience.

Sincerely,

Synchrony Bank

I got the same message - never was able to pull up the list of retailers from that link. Do you know which retailers will accept this?

 

 

Sent from my iPhone using Tapatalk

 

I received the HH Gregg message over the weekend. I was able to follow the link this morning. You have to select your state (easier on a laptop than a smartphone) then it provides a list of merchants. Unfortunately, they're mostly furniture stores, not even national chains. So I'll probably take my 24 mos. 0% interest for what I already have on the card then it's sock drawer bound. Maybe at some point Synchrony will allow me to combine the limit with my Pep Boys card, or switch it to another one of their affinity cards that I might actually use.

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I meant to go into one of the friendly neighborhood HH Gregg stores in Mudland over the weekend to look at point-and-shoot cameras.

 

And then I didn't. :(

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The HHGregg chain announced it is filing BK and closing all stores. I have an HHGregg account (Synchrony) with $4,500 CL and $2,900 balance. Account is 13 mos old (we bought a house last year and they offered 24 mos. no interest). Will Synchrony close the account as soon as the balance is paid? Should I try to time it so I take the full 24 mos to keep the account open as long as possible?

 

Dear ,Thank you for being a loyal hhgregg credit cardholder. We want to let you know that hhgregg has begun liquidation of their stores and is no longer accepting the hhgregg credit card for purchases instore or online. Your account will remain open and you will continue to be protected against unauthorized charges. Please note the following important information:

  • Effective immediately, you can use your hhgregg credit card at any of the 2,000 and more retailers in the Synchrony Home Design program. Please visit www.mysynchrony.com/hhg for the list of retailers.
  • Stay tuned as we work to provide you with other locations where you can use your hhgregg credit card!
  • If you have an account balance, you will continue to receive billing statements from Synchrony Bank. You are responsible for making payments until the balance on your account is paid in full in accordance with your Credit Card Account Agreement. Synchrony Bank will continue to report your account to the credit bureau based on your payment history; hhgregg stores closing has no impact.
There are three easy ways to pay*:

  • Online at mysynchrony.com
  • By mail at Synchrony Bank, PO Box 960061, Orlando, FL 32896-0061
  • By phone, use the automated system by calling 1-866-396-8254**
Our Customer Service team will be happy to assist you with any questions and can be reached at the toll-free number 1-866-396-8254. We appreciate your business and apologize for any inconvenience. Sincerely,Synchrony Bank
I got the same message - never was able to pull up the list of retailers from that link. Do you know which retailers will accept this?

Sent from my iPhone using Tapatalk

I received the HH Gregg message over the weekend. I was able to follow the link this morning. You have to select your state (easier on a laptop than a smartphone) then it provides a list of merchants. Unfortunately, they're mostly furniture stores, not even national chains. So I'll probably take my 24 mos. 0% interest for what I already have on the card then it's sock drawer bound. Maybe at some point Synchrony will allow me to combine the limit with my Pep Boys card, or switch it to another one of their affinity cards that I might actually use.

There will be no combining of limits or switching to an affinity card. And if they did switch it, it will appear as a new account (see Walmart store cards getting "upgraded" to MCs).

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What about warranties purchased with our Hhgregg card for appliances purchased? We purchased a new washer and dryer in Dec. 2016 and the sales reps finally convinced us to also purchase extended warranties, so we tagged on an extra $400 ($200 each for a 5 year warranty) to our bill. Now, three months later, they go belly up! I know it will be very hard if possible to get those warranties honored, so why should we have to still pay for them? Does anyone know if Synchrony will take off the warranty charges or have an alternative for getting our warranties honored? If not, then we'll make sure to never get anymore Synchrony Bank cards again (we have 3 now, smh).

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