topic Re: BP Credit Card 7-10 Day Message in Credit Card Applications

BP Credit Card 7-10 Day Message

Anonymous — Fri, 23 Nov 2018 03:37:09 GMT

So, I recently have been doing some research on the BP Credit Card and their rewards for gas. Since I almost always buy gas at BP and usually spend around $250-350 a month on gas (I travel a lot for work) I decided to go ahead and apply. Well, I got the lovely 7-10 days message. They pull TransUnion, which at the time they pulled it, it looked like this:

Score: 740

Utilization: 12%

Payment History: 100%

Hard Inquiries: 2 (Last one was a little over 6 months ago)

Side note, Annual Income is $55,000.00

Well, I called to check the status of my application and to my surprise, I was told that I was denied. I thought for sure I had a 100% approval rate... But I guess I was wrong lol. I have two other cards through Synchrony, JCPenney and a Car Care One Card. JCPenney has a $3200 limit and the Car Care has a $2000 limit. Utilization for both of them are below 5%. Any thoughts?

Re: BP Credit Card 7-10 Day Message

FinStar — Fri, 23 Nov 2018 16:28:19 GMT

Since the SYNCB (BP) application was not approved it cannot be reconsidered, unfortunately. The only exception would be whenever additional verification or information is required.

I would suggest that you wait for the letter to gain some insight on the declined outcome.

You may have other SYNCB existing accounts, but each PLCC is evaluated separately depending on the UW criteria for each program.

Re: BP Credit Card 7-10 Day Message

RonM21 — Fri, 23 Nov 2018 21:20:54 GMT

It will be interesting to see what the letter says when it arrives OP. When reading the info on your profile that you gave, I was thinking it would favor approval also. Hopefully you can gain some insight that makes sense when the letter arrives.

Re: BP Credit Card 7-10 Day Message

Anonymous — Sat, 24 Nov 2018 00:32:31 GMT

I'm wondering if it has to do with the recent credit increases I got on both of my other Synchrony cards... Within the last 3-4 months my cards have gone from $1500 to $3200. And $1000 to $2000.

Re: BP Credit Card 7-10 Day Message

Meanmchine — Sat, 24 Nov 2018 06:03:07 GMT

How many accounts opened in the last year?

Re: BP Credit Card 7-10 Day Message

Anonymous — Sat, 24 Nov 2018 17:21:01 GMT

Two maybe 3 within the last year.

Re: BP Credit Card 7-10 Day Message

Anonymous — Tue, 27 Nov 2018 13:23:23 GMT

Reason for denial:

Length of time accounts have been established.

I saw earlier in this post that Synchrony doesn’t recon? So there is no chance I could call and get this recon?

Re: BP Credit Card 7-10 Day Message

Loquat — Tue, 27 Nov 2018 13:32:30 GMT

@Anonymous wrote:
Reason for denial:

Length of time accounts have been established.

I saw earlier in this post that Synchrony doesn’t recon? So there is no chance I could call and get this recon?

To my knowledge, Synchrony doesn't do recons. You can reapply whenever you like but it may not yield a different result and you will probably end up wasting another HP.

Re: BP Credit Card 7-10 Day Message

FinStar — Tue, 27 Nov 2018 14:59:11 GMT

@Anonymous, that is correct, SYNCB doesn't do any reconsiderations.