topic Re: Verizon Visa - $30,000 SL in Credit Card Approvals

Verizon Visa - $30,000 SL

Aim_High — Thu, 20 Jul 2023 17:41:35 GMT

No, that's not a misprint and no, this wasn't a well-planned application! More to follow on the details if you care to read.

Approved for the Verizon Visa Signature by Synchrony Bank with $30,000 SL.

Approved at lowest available APR on the card (23.24%)

SUB Offer of $100 statement credit after making any purchase within 90 days.

Backstory:

I've never been a big Synchrony Bank fan. I have three closed Sync cards that are still reporting on my credit report. (Mervyn's department store 2004 - 2008; PayPal Credit opened 2010 and closed at the end of 2019 for non-use six months after Sync took over the accounts; and a Haverty's furniture store card I opened and used for special financing 2011 - 2015. There are additional store cards that have dropped off such as from JC Penney.) While I didn't rule them out completely, I was leery about adding more of their cards to my wallet since they can be unpredictable, especially after the pandemic round of account closings. They've been a lender who has been much more likely to close my cards quickly for inactivity. Also, most of their cards have little interest for me, but I know of a handful that I consider more desirable. The Verizon Visa was one of those selected few cards. As a Verizon customer, I was offered the card when it first debuted in 2020 and seriously considered it. But I had other recent accounts, other credit objectives, and had some reservations about the card itself. Besides concerns about Synchrony Bank, I was discouraged by the "Verizon Dollars" rewards system as opposed to a more straight-forward cash back, I had great cell phone payment rewards already going on my Chase INK Cash (with conversion of 5% rewards to Chase Ultimate Rewards), and I had other cards that paid comparable rewards on the higher (3%/4%) bonus categories. I hesitated to take on a new card that would be useless if I decided to discontinue my Verizon-customer relationship. Also, since I like higher-limit cards in general, I was discouraged by the low limits Synchrony was giving out in the early days, even for exceptional credit profiles.

On a whim the other day after seeing a Verizon Visa approval, I wandered to the application page and saw the Pre-qualification link. Maybe I'm just late to the party but I didn't know Synchrony was giving out Apple card style soft-pull preapprovals with a specific SL and APR! (I found some on their other cards too.) I was floored when mine came back at $30K, as I don't believe I've seen any data points on a My FICO approval or a CLI above $20K, and even that was not common. I had recently added two more cards (four total new personal cards before this app in 2023) so I had planned to garden until the fall. After pondering it for two days, I went back and the offer was still there, so I completed the application. Approved at the same SL and APR in the prequalification.

For me, the kickers to push me over the line were: the firm preapproval; the much higher-than-expected CL; the $100 SUB; the $10 per month per line credit and 2% cash back on Verizon auto-pay; Two free "Travel Pass" days per year worth up to $20; and the option to use the card at 3% - 4% for uncapped gas, groceries, dining at no AF made it a good backup category card. I also didn't realize the Visa Signature benefits had been enhanced in 2021 and now include no FTF, Luxury Hotel collection, Roadside Dispatch, Concierge, Extended Warranty protection, Silvercar rental car discounts, and Travel and Emergency Assistance. (These services duplicate those on several of my other cards but it's nice to know I have backups.) And of course, I like the sleek metal card. Aesthetics are a bonus.

This isn't going to be a daily driver card for me but I'm glad to add it to the lineup. Like my recent foray into Barclay's cards with the Aviator Red, this gives me some presence with one of the other major US lenders/card issuers that I lacked. My previous Synchrony cards haven't really been "keeper-type" cards since I wasn't going to organically use them frequently enough to avoid closure. Hopefully this one will be different. Having three new credit accounts all established +/- July 1 will just mean I need to garden a little longer before adding new cards in the fall/winter.

Shout-out to @FireMedic1 for calling my bluff on having finished my streak with >my recent NFCU FSR $25K Approval<! Lol

Single hard pull on TU. I'm now 4/6; 4/12; 4/24 on TU HPs.

*I had three prior HPs on my TU, all within the past 30 days. (2x Barclays; 1xNFCU)

My FICO TU (08) is 847 and FICO TU (09) is 850.

For new (personal) accounts, at time of application I was 4/6; 5/12; 6/24.

*My last six personal accounts: July 2023: NFCU Flagship Rewards; June 2023: Barclay's Aviator Red; March 2023: AMEX Hilton Surpass; March 2023: Chase IHG Rewards Premier; Oct 2022: CITI AAdvantage Executive; Nov 2021: AMEX Marriott Bonvoy Brilliant.

*This excludes (3) business card accounts I've opened in the past 12 months that do not report on my personal credit report: May 2023: AMEX Marriott Bonvoy Business; Feb 2023: Chase INK Unlimited; Sep 2022: AMEX Blue Business Plus: Sep 2022.

*TCL now $840K.

That bring my 77-day running total since 05/03/23 to $133K in new credit.

Divided daily, that is over $1,700 every day. lol

Re: Verizon Visa - $30,000 SL

CYBERSAM — Thu, 20 Jul 2023 04:23:29 GMT

Congrats on amazing SL! Haven't even seen CLI over 20K. Nicely done 👍👍

Re: Verizon Visa - $30,000 SL

CreditMagic7 — Thu, 20 Jul 2023 04:26:19 GMT

Re: Verizon Visa - $30,000 SL

FireMedic1 — Thu, 20 Jul 2023 10:15:01 GMT

Congrats again @Aim_High . You cant fool a Medic. "Did you take any drugs today sir?" "No" "Then why are your pupils the size of the head of a needle?" Lets see if you can make it to August.

Re: Verizon Visa - $30,000 SL

CardHunter — Thu, 20 Jul 2023 10:08:54 GMT

Congrats on a monster starting line and approval!!! I have the same card and only use it for my Verizon payments, but it does have a couple of nice rewards to it's program. Congrats again!

Re: Verizon Visa - $30,000 SL

coreyb80 — Thu, 20 Jul 2023 13:00:28 GMT

Congrats on the massive approval!

Re: Verizon Visa - $30,000 SL

BigBS — Thu, 20 Jul 2023 13:53:54 GMT

Congrats on the massive approval! It reminded me that I had not asked for a CLI on my Verizon card. After going over in my mind whether I wanted to poke that beast I decided yes and received a 2x CLI from $9500 to $19000 (asked for $20k). Still far behind @Aim_High, but I am good and will likely not ask for more.

Re: Verizon Visa - $30,000 SL

mgood — Thu, 20 Jul 2023 13:59:34 GMT

WOW!

That's quite a starting limit!

Re: Verizon Visa - $30,000 SL

crrredit — Thu, 20 Jul 2023 14:22:15 GMT

Congrats on the nice SL!

My own SL is just $29,000 less than that.

Re: Verizon Visa - $30,000 SL

everest — Thu, 20 Jul 2023 15:42:46 GMT

Wow!! Many congrats on your approval! 🎉

As you mention, very few existing accounts have seen CLIs up to $20k on this card, and to have such a wonderful limit @ the lowest APR from the pre-qualification link makes it all the more special! Congrats again, on all your wonderful approvals these past few months!

Re: Verizon Visa - $30,000 SL

Legally_Speaking2512 — Thu, 20 Jul 2023 16:58:14 GMT

WOW!! That is the highest starting limit I've seen to date. Unreal. That's not a bad day in the world of credit approvals at all. Well done.

Re: Verizon Visa - $30,000 SL

cashorcharge — Thu, 20 Jul 2023 16:58:18 GMT

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

Re: Verizon Visa - $30,000 SL

Rdbeetle — Thu, 20 Jul 2023 17:01:43 GMT

Congrats on your Verizon $30k approval!

Re: Verizon Visa - $30,000 SL

911gt34life — Thu, 20 Jul 2023 17:06:14 GMT

Congrats on 30K just insane ...

Re: Verizon Visa - $30,000 SL

JoeRockhead — Thu, 20 Jul 2023 18:49:22 GMT

Outstanding SL, congratulations on the approval!

Re: Verizon Visa - $30,000 SL

CreditCuriosity — Thu, 20 Jul 2023 22:04:16 GMT

Congrats on the approval. Pretty sure mine was at 30k when I decided to close it through SP CLI's online. Should of got when initially came out as the bonus I think was based on people that applied and approved first day or was it first 3 days or something was thinking it was going to be like a $30 bonus ended up being around $450 lol. Worked out well while I had the card. To you point though one point system was just weird to me and locked me into a carrier and the company I work for now provides me with a work/personal cell phone so no need for card anymore thus was time to close. Enjoy and very nice starting limit!

edit: looked it up closed it at 20k never asked above that amount. sorry about that everyone

Re: Verizon Visa - $30,000 SL

CYBERSAM — Thu, 20 Jul 2023 20:28:39 GMT

@CreditCuriosity wrote:
Congrats on the approval. Pretty sure mine was at 30k when I decided to close it through SP CLI's online. Should of got when initially came out as the bonus I think was based on people that applied and approved first day or was it first 3 days or something was thinking it was going to be like a $30 bonus ended up being around $450 lol. Worked out well while I had the card. To you point though one point system was just weird to me and locked me into a carrier and the company I work for now provides me with a work/personal cell phone so no need for card anymore thus was time to close. Enjoy and very nice starting limit!

Very interesting! I tried to get CLI to go over 20K and was told repeatedly that this Card is capped at 20K. Last time I tried was couple of years ago.

Re: Verizon Visa - $30,000 SL

KingRue8500 — Thu, 20 Jul 2023 21:41:09 GMT

Congrats on your Verizon Visa approval

Re: Verizon Visa - $30,000 SL

CreditCuriosity — Thu, 20 Jul 2023 22:03:27 GMT

@CYBERSAM wrote:
@CreditCuriosity wrote:
Congrats on the approval. Pretty sure mine was at 30k when I decided to close it through SP CLI's online. Should of got when initially came out as the bonus I think was based on people that applied and approved first day or was it first 3 days or something was thinking it was going to be like a $30 bonus ended up being around $450 lol. Worked out well while I had the card. To you point though one point system was just weird to me and locked me into a carrier and the company I work for now provides me with a work/personal cell phone so no need for card anymore thus was time to close. Enjoy and very nice starting limit!
Very interesting! I tried to get CLI to go over 20K and was told repeatedly that this Card is capped at 20K. Last time I tried was couple of years ago.

I am wrong, just checked report and closed it at 20k.. sorry for the confusion. Could I have gone beyond I don't know as always got what i asked for. 20k could be cap unless initial approval is higher? Sorry about that

Re: Verizon Visa - $30,000 SL

gingerflower — Thu, 20 Jul 2023 23:55:54 GMT

Congratulations what a monster approval ! 👍