topic Synchrony Bank/Sam's Club in Credit Card Approvals

Synchrony Bank/Sam's Club

Anonymous — Fri, 16 Jul 2021 03:24:39 GMT

Hi there! So I was recently approved for Sam's Club credit through Synchrony Bank. I got a letter in the mail from them saying the interest rate they are giving me is based on a 623 credit score from Transunion but I am looking at my Transunion FICO score and it is 682 pulled from the Experian paid 3 credit bureau scores. Can I argue the score they are using to get a better rate?

Re: Synchrony Bank/Sam's Club

KLEXH25 — Fri, 16 Jul 2021 03:28:22 GMT

I believe Synchrony uses Vantage 4.0 now. So in this case...FAKO not FICO.

Re: Synchrony Bank/Sam's Club

FinStar — Fri, 16 Jul 2021 06:16:45 GMT

Congrats on the Sam's Club card approval. Unfortunately, the APR is set during the approval process and it's usually disclosed with the "price you pay for credit" notice that they send upon approval based on a variety of factors including the score provided.

Re: Synchrony Bank/Sam's Club

Total80sKid — Fri, 16 Jul 2021 08:23:22 GMT

Congrats on your Sam's Club approval 🎉

Re: Synchrony Bank/Sam's Club

Papa_Bear — Fri, 16 Jul 2021 08:40:05 GMT

Congratulations!

Re: Synchrony Bank/Sam's Club

Anonymous — Fri, 16 Jul 2021 12:00:08 GMT

@Anonymous wrote:
Hi there! So I was recently approved for Sam's Club credit through Synchrony Bank. I got a letter in the mail from them saying the interest rate they are giving me is based on a 623 credit score from Transunion but I am looking at my Transunion FICO score and it is 682 pulled from the Experian paid 3 credit bureau scores. Can I argue the score they are using to get a better rate?

That is a great question, did they give you a bad rate? Were you a borderline approval? Can the card grow fast or is it gradual growth? Congrats on approval.

Re: Synchrony Bank/Sam's Club

gdale6 — Fri, 16 Jul 2021 14:53:54 GMT

Synch has their own internal scoring model and they also do use V4 to provide monthly scores to people who have some of their cards so it is one of these 2 that they are using for approval. Grats on getting your Sams card

Re: Synchrony Bank/Sam's Club

Mr_Mojo_Risin — Fri, 16 Jul 2021 23:49:39 GMT

Congratulations on your new Sam's Club card!