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I just got my foot in the door with Synchrony, I got 3 cards in one night - which is AWESOME! I saw many posts about people getting instant CLI with them. I tried to get a CLI on the Walmart card, but got the message that my account is too new and I have a lot of recent accounts opened. Is this a sign they are going to give me the same response on the other 2 cards or is it worth trying for a CLI on the other 2 cards? Thanks!
Be careful with them, my suggestion is put some use on them, keep balance low or PIF and try in 90 to 180 days.
I don't think I am going to push things with Synchrony, I am glad I got my foot in the door, now I am going to use my cards maybe once a month and then pay in full and try again after a few months. Thanks for the advice
I agree with Joe and the OldMan!
Also, If your going to dabble with Synch, the "What the heck is going on with Synch? " thread is REQUIRED reading.
Best credit wishes to you!
I would also check your FICO scores, specifically TU (which Synchrony SP's for CLI's in many instances, such as Amazon) before going for a CLI, and also take care that you haven't applied for too many other things in the short term before your CLI attempt. I decided to attempt a CLI request via their Credit Solutions department last month (having been advised to ask for $10k, which I trimmed down to $6k) and was turned down flat, most likely because I'd already applied for two other credit cards and an auto loan in the past month. My TU FICO score was 627 at that time (I thought it was higher than that but I'd been relying too heavily on Cap One's CreditWise). As I'm in the garden now, I'm just going to stand pat, use the card moderately, pay down my current balance and let my scores build and inquiries and negatives age for a few more months before trying again.
My TU FICO is 663 but I do have a lot of recent inquiries. I am in the garden for now and the only bank I am going to allow to do an inquiry is the credit union, where my fiance is going to help me get a personal loan at to pay of my CC debts. I don't have an installment account, and from what I have read, getting a new type of account can improve my credit, and of course using the money to pay off CCs will also help my credit by reducing total utlization and getting paid off tradelines on my report. I am not going to go crazy with Synchrony, there are a lot of scary posts on here about the AA nightmare going on. I have 3 accounts, I will use them wisely and just be thankful that I got in the door
@AverageJoesCredit wrote:
Yes give it some time and also a small piece of advice learned by many here through the past year, be careful opening so many Synchrony Bank accounts within a short timeframe. This can lead to possiblities of getting a blue envelope , the 4506 income verification, and it doesnt always end good for the issued. Comenity and Sync can be very useful but getting as many as you can because you can is not recomended , at least imho
+1! Enjoy your new cards and wait six months then go for it.