topic Re: What is synchrony looking for? in Credit Card Applications

What is synchrony looking for?

haleyjen — Mon, 05 Jun 2017 18:15:52 GMT

I literally cannot get a single card with them (I really want the amazon one)....I'm assuming it's because they insist on pulling TU which is by far my worst report. What do they look for?

Re: What is synchrony looking for?

AverageJoesCredit — Mon, 05 Jun 2017 18:19:24 GMT

Unfortunately, mostly TU reports. The higher your score the better your chances

Re: What is synchrony looking for?

Anonymous — Mon, 05 Jun 2017 18:32:01 GMT

I got the Amazon (Prime, since I was already a Prime member at the time) store card with about a 630 TU, if I remember correctly... I've had it for a while lol

It started with a $900 limit.

I had gotten a pre-approved mailer for the Walmart card (which approved initially with a $300 limit at about TU 600), but waited a few months until I had built up my scores a bit before trying for the Amazon card (which, like you, was the one I really wanted from them).

Oddly, now years later, the Walmart (which converted to the Mastercard version a while back) has not grown much (it's stuck at about $1500 - but then I never ask for CLI and don't use it that much; it stays for the age right now), but the Amazon CL has increased to over ten times its original limit.

Re: What is synchrony looking for?

Anonymous — Mon, 05 Jun 2017 18:59:54 GMT

I got denied for Amazon earlier this year with a 570 TU FICO08. I spend seasonally on Amazon and just wanted the 5% cash back at statement.

A few days ago, my TU jumped from 590 to 635 and I got my first Chase pre-qualification ever so I apped Chase (approved $500) and decided to risk the Amazon store card right after. Apped that, instant approval for $400 (and $40 store credit). My TU shows an unpaid tax lien, recent collection from 1/17 and a chargeoff from 2015. Still got a small approval and hoping it might grow with time and usage.

Re: What is synchrony looking for?

haleyjen — Mon, 05 Jun 2017 19:07:42 GMT

Gotcha. I'll just have to find a way to drag my TU up a bit...I'm paying off the charge off that I can in a few weeks and I'll have to work on my util (it's higher on TU for some weird reason).

Re: What is synchrony looking for?

Anonymous — Mon, 05 Jun 2017 19:11:24 GMT

My utilization was around 3% overall. I should also mention that I apped Walmart store card immediately after the Amazon approval and it was an instant denial. Called for recon and they told me my account is closed, so I assume I burned Walmart before and don't remember, but they wouldn't reconsider for any reason.

Re: What is synchrony looking for?

Anonymous — Mon, 05 Jun 2017 20:38:13 GMT

I got in with synchrony walmart with TU 595.

Re: What is synchrony looking for?

MrsCHX — Mon, 05 Jun 2017 21:05:56 GMT

@haleyjen wrote:
I'll have to work on my util (it's higher on TU for some weird reason).

Because TU is painfully slow at updating.

Re: What is synchrony looking for?

JoeLuvsHisCredit — Mon, 05 Jun 2017 23:10:16 GMT

@MrsCHX wrote:
@haleyjen wrote:
I'll have to work on my util (it's higher on TU for some weird reason).
Because TU is painfully slow at updating.

AMEN LOL

Re: What is synchrony looking for?

AverageJoesCredit — Tue, 06 Jun 2017 00:44:17 GMT

If TU is painfully slow, Equifax is molasses on the back of a turtle

Re: What is synchrony looking for?

Total80sKid — Tue, 06 Jun 2017 03:44:58 GMT

No idea.

I keep reading how great synchrony is with approvals and CLI but I have had the Amazon Prime Store Card since summer of 2015 with an $800 SL and have not missed one payment. Called and asked for a CLI for the first time 2 months ago and was denied.

Nothing new has been added to my CR and my scores are around what they were when I was approved (low 600's).

I have also tried applying for a Walmart card and was denied.

Re: What is synchrony looking for?

Anonymous — Tue, 06 Jun 2017 10:56:52 GMT

Your FICO score isn't the only factor in approval. Where did you get your credit score from? That's always the first question.

Second, how is your overall utilization average and what's your highest utilization on any one card?

Do you have a ton of inquiries on TU?

Re: What is synchrony looking for?

Anonymous — Tue, 06 Jun 2017 14:56:16 GMT

I keep reading how great synchrony is with approvals and CLI but I have had the Amazon Prime Store Card since summer of 2015 with an $800 SL and have not missed one payment. Called and asked for a CLI for the first time 2 months ago and was denied.

Nothing new has been added to my CR and my scores are around what they were when I was approved (low 600's).

Synchrony will issue cards at lower scores, and often lower than yours for Walmart (Amazon seems a little more demanding, but low-600s is generally within their range).

They are not, however, known for expanding the CLIs in any great measure, if at all, until you hit about 660-680. After that, their floodgates seem to spring open for most people.

I got my Walmart card right around 600 (give or take 10 points) and then later got the Amazon card in the 630-ish area, but both were firmly set for a while after that.

The Walmart started with $300 and went to $450 about 6 months later, then jumped to $1500 once my scores were in the 660 range (they also converted it to a Mastercard at that point). It's been there ever since, but then again I don't really use it much, just around Christmas sometimes, and have never asked for another CLI.

Amazon started at $900, and didn't move until my scores went above about 675, then immediately went to $1900, and has gone up a few grand at a time since then, and now sits at $10,900. I ask for a CLI every 6-9 months (I am not an avid gardener lol) and generally get about $3000-$3500 at a time. Scores are all hovering around 720, give or take a few points, and generally moving up slowly as things age and very old baddies (paid collections) fall off.

Hang in there, once your scores hit their sweet spot, Synchrony will open the doors wider for you.

Re: What is synchrony looking for?

haleyjen — Tue, 06 Jun 2017 15:05:39 GMT

I have a lot of inquiries and all my baddies on TU - got my score through creditcheck total. I seem to get pulled TU for everything and it's my worst report.

Re: What is synchrony looking for?

creditmonger — Tue, 06 Jun 2017 17:10:24 GMT

You need too call Credit Solutions for decent Sync CLI's. Not going to happen calling the # on back of card.