topic Re: Easiest Synchrony Card to get? in Credit Card Applications

Easiest Synchrony Card to get?

OmarGB9 — Wed, 04 Dec 2019 05:19:26 GMT

So I'm still rebuilding, paying stuff down, and most things are paid off now/will be paid off by the end of next year. Now I'm looking into getting the three CC's to maximize my scores and start building up new payment history because I presently have no open revolvers. Only student loans (deferred) and a car loan. I was just approved for a Cap One Plat card, and was thinking of maybe adding a synchrony card just to do the AZEO and see if I can get my scores up above 600.I know Lowe's is a popular one, but with 4 open chargeoffs totaling about $17k, two collections, one paid and one unpaid (still have about $8.7k to pay), and three more paid COs, what are my odds at getting any sync card? Scores are in my signature, and income is $63k.

Re: Easiest Synchrony Card to get?

FinStar — Wed, 04 Dec 2019 05:28:58 GMT

If the following are your current FICO scores: EX 580, EQ 563, TU 575, I would strongly recommend adressing those charge-offs and getting above the 600 mark for better results and avoid risking a decline. Another SYNCB CC that folks seem to gravitate toward during a build/rebuild is the Amazon store card.

Re: Easiest Synchrony Card to get?

OmarGB9 — Wed, 04 Dec 2019 05:33:26 GMT

@FinStar wrote:
If the following are your current FICO scores: EX 580, EQ 563, TU 575, I would strongly recommend adressing those charge-offs and getting above the 600 mark for better results and avoid risking a decline. Another SYNCB CC that folks seem to gravitate toward during a build/rebuild is the Amazon store card.

They are being addressed and they'll be down to two unpaid COs here in the next couple of months. Though I know they'll still be on my reports and GW probably won't happen as they belong to WF/Discover/Chase/BoA. But I'll keep trying. Was really hoping for better news since getting above 600 is why I'm hoping to get at least one more card.

Re: Easiest Synchrony Card to get?

FinStar — Wed, 04 Dec 2019 05:58:36 GMT

Understood, and based on what you've shared, you're making pretty good headway toward that goal and your efforts will pay off in the end.

I'm sure other folks will chime in and provide their feedback/experiences on which SYNCB cards were within reach during their rebuild which can serve as a good roadmap for your own strategy.

Re: Easiest Synchrony Card to get?

Anonymous — Wed, 04 Dec 2019 06:28:13 GMT

Amazon is probably the easiest to get but I am doubtful your current stats will get an approval.

Re: Easiest Synchrony Card to get?

Remedios — Wed, 04 Dec 2019 14:13:06 GMT

Hi, Omar ❤

I'd wait as long as you can while you're paying off collections and COs.
As long as a single opened, unpaid one remains, it will keep your scores suppressed if it's updating.
I would seriously consider Open Sky for one year. It's secured, but no credit check. While it's not ideal, it will serve its purpose. You can cancel it once your scores improve and you're ready to move on.
Citi and US bank have decent secured cards that will graduate, but I'm not sure if your scores would meet their UW criteria
If you are not HP averse, you can try applying and see what happens.

Good luck!

Re: Easiest Synchrony Card to get?

calyx — Wed, 04 Dec 2019 14:45:21 GMT

If you're willing to go the secured route - I second Remedios's suggestions.

Citi seems to be pretty generous with their approvals - I've seen approvals from people in their lower 500s. That one is nice because it will eventually graduate to a product you can PC. They gave me a CLI after graduation as well, which is always nice - whether thats SOP or I did well enough, I'm not sure.
USBank - same story, they can graduate sooner (if Citi makes you wait the entire 18mos; USBank will graduate you upon request after 12m and a FICO of 680), and their product is also PCable, but they will HP you for EVERYTHING (they hit me when I sent them money to increase my deposit and when I requested graduation). I believe I was in the upper 500s when I got that one, but I can't absolutely confirm that.

Re: Easiest Synchrony Card to get?

OmarGB9 — Wed, 04 Dec 2019 16:02:25 GMT

Thanks to everyone for the feedback.

@Remediosand @calyx, I have read many DPs on here about both US Bank and Citi secured, but I'm not sure those are even options for me.

USB I know is conservative, and with my dirty file, I'm not so sure I'd qualify.

As for Citi, again I'm not sure I'd qualify with all my derogs. Not only that, but they're one of the creditors I have a CO with for $889. They deleted their TL off my reports after they sold the debt to PRA (whom I settled with), but I know they still have their internal records. So, not sure I'd qualify for a Citi card, even a secured one. Are there DPs out there for getting back in with Citi after CO via the secured route?

Re: Easiest Synchrony Card to get?

calyx — Wed, 04 Dec 2019 16:22:00 GMT

USB let me in with a dirty file (charge offs, defaulted student loans, collections), so I don't think that's a problem.

Citi reportedly does have a long memory, so that one might be out the window. I know they require 2 years after a bankruptcy (but I don't know if that includes them in that BK), and I'm completely unsure with charge offs. I don't know if Citi includes the secured in their prequalify page, either.

Re: Easiest Synchrony Card to get?

spiritcraft1 — Wed, 04 Dec 2019 16:35:52 GMT

@calyx wrote:
USB let me in with a dirty file (charge offs, defaulted student loans, collections), so I don't think that's a problem.

Citi reportedly does have a long memory, so that one might be out the window. I know they require 2 years after a bankruptcy (but I don't know if that includes them in that BK), and I'm completely unsure with charge offs. I don't know if Citi includes the secured in their prequalify page, either.

If it were me, I wouldn't even waste a HP with Citi. Do any of your local CU's offer a secured card? Eligible for NFCU?

Re: Easiest Synchrony Card to get?

Anonymous — Thu, 05 Dec 2019 22:35:55 GMT

From what Ive read Citi SCC can be a nightmare to get unsecured if at all.

Re: Easiest Synchrony Card to get?

Aspireto850 — Fri, 06 Dec 2019 20:59:30 GMT

@OmarGB9,

Amazon has a relatively new 'credit builder' card. You apply for the regular store card and it will determine if you qualify for either one. It's basically a secured card that can graduate in 7 months.

Good Luck.

Re: Easiest Synchrony Card to get?

Brian_Earl_Spilner — Fri, 06 Dec 2019 21:06:10 GMT

@Aspireto850 wrote:
@OmarGB9,

Amazon has a relatively new 'credit builder' card. You apply for the regular store card and it will determine if you qualify for either one. It's basically a secured card that can graduate in 7 months.

Good Luck.

The credit builder card was killed off months ago.

Re: Easiest Synchrony Card to get?

Aspireto850 — Sat, 07 Dec 2019 04:09:28 GMT

@Brian_Earl_Spilner

Wow, wasn’t it just released earlier this year? Do you know their reasoning? Just looked at their website and it’s still showing in terms of available cards! 🤔

Re: Easiest Synchrony Card to get?

OmarGB9 — Sun, 08 Dec 2019 00:10:43 GMT

Thanks for the input everyone. I may just hold off for a bit and work with my Cap One Plat, and try for a disco secured in a few months once I pay back the CO.