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Is sending SYNCB/TJX a Goodwill letter a good idea?


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In 2019, with impeccable credit, I requested a TJMAXX card with Synchrony Bank (SYNCB/TJX) and got approved for $2,000. 

Amidst crisis and turmoil where I live, paying about $200 I owed from a purchase slipped through the cracks. I have 5 negative marks for late payment. I immediately paid the balance in full. In fact,  I always do. The account was closed by the credit grantor. 


This small sum owed, essentially ruined my credit and I’m in the process of recovering it now. 


Even though I’m sending dispute letters to the 3 credit bureaus, I’m wondering if it’s a good idea to send a request for Goodwill elimination of my marks directly to Synchrony Bank. My credit history since then shows that I pay all my balances in full in a timely way. I even have bank statements of significant purchases made at the TJMAXX stores since. 

The crisis and unrest experienced during the period of time where I live when the late payments were made is a testament to the hardships at that time….which led to notices received about late payments slipping through the cracks. 


I’m confident I can make a good case in a Goodwill letter and offer to open a new card once credit is restored, but I don’t even know if its worth a shot and if that kind of consideration is commonly granted. Logic tells me that pleading to the actual bank for consideration would be more efficient than continuing to knock on the bureaus’ doors with disputes. 


Any insights or help? 


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Sending a request for goodwill consideration is never a "bad' idea.  Reportedly, Synchrony can be responsive to such requests.  It's recommended that you address such a request to the CEO's office by email.


If you haven't sent the CRA disputes off yet, I strongly recommend that you hold off on that action.  Your gut feeling on this count serves you well.


In seeking "goodwill" from the lender, you're essentially owning up to the delinquencies as valid, asking consideration for their removal because of extenuating circumstances that (presumably) you addressed as proactively as possible until such time as you brought the account current.  To at the same time dispute the delinquencies as inaccurate with the CRA's sends a very mixed message and suggests you may merely be making an indiscriminate effort to remove the black marks.  That's in direct opposition to the sincerity out of which your goodwill request is best postured.


Your goodwill request is best structured as follows:

-- Acknowledgement of the past delinquencies

-- A concise, but reasonably convincing explanation of the circumstances that prevented you from maintaining payments on the account. 

-- A statement to the effect that you brought the account current as soon as it was feasible.

-- A request that in consideration of the underlying circumstances, the credit reporting of those delinquencies by removed.


I wouldn't unduly stress the fact that statements and notices were overlooked.  Bottom line, you had knowledge of the outstanding debt and the missed communications weren't the key reason why the delinquency persisted.  (You had access to the account by website and phone, allowing you to check up on the debt in absence of the communications.)  Instead, convey how your circumstances interrupted your functioning in general, and that you were relieved once you brought the account up to date.


Other anecdotes re goodwill requests posed to Synchrony suggests that your prospects are reasonably strong.  It's very much in your favor that the delinquency didn't persist beyond 90 days.  And if your credit report is largely free of anything but an infrequent 30 day delinquency, at the worst (outside of this account), it provides a strong testament that you strive to handle your credit obligations responsibly.


Best of luck!



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