topic Re: Synchrony question.. in Credit Card Applications

Synchrony question..

Anonymous — Sat, 25 Apr 2015 07:01:08 GMT

What do they look for as far as credit history goes? I apped for the Walmart card in November and was denied, but it was because I did not have a TU FICO score yet. I only had my First Premier card for a month. So what do they look for in that sense?

Re: Synchrony question..

AeroKrix — Sat, 25 Apr 2015 09:52:06 GMT

@Anonymous wrote:
What do they look for as far as credit history goes? I apped for the Walmart card in November and was denied, but it was because I did not have a TU FICO score yet. I only had my First Premier card for a month. So what do they look for in that sense?

It seems that your TU FICO of 670s should suffice for an approval. But don't be shocked if you get denied and the reason is "lack of revolving credit". They say 3 revolvers is the minimum number to generate a "genuine" score. I can't say for certain if Sync cares to much about that. The safest bet is to get yourself a secured card from banks that graduate. CapOne secured might be tempting, but their secured card NEVER graduates. Look into BofA, Wells Fargo, a Credit Union, FNBO, U.S. bank. These all graduate. If you only have 1 credit card right this moment, lack of credit might be a common denial reason for you. Secured is the way to go till those start reporting a payment history of a few months. Then app. Just my 2 cents. GL to you.

Re: Synchrony question..

Anonymous — Sat, 25 Apr 2015 10:27:27 GMT

Lol I have had the capital one secured for five months now. First Premier for six, QS1 and Platinum for four months, and an Overstock card for almost four.

Re: Synchrony question..

Anonymous — Sat, 25 Apr 2015 10:28:34 GMT

I'm not apping anytime soon. Just wondering what their minimum credit history is needed for an approval. Aaoa is about 4 months now.

Re: Synchrony question..

ddemari — Sun, 26 Apr 2015 01:16:29 GMT

U could end up with a walmart store cars with a 150 startling line or more. Old navy has been easy for a lot, low limit starting line store cards, they can grow though really well

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 02:52:30 GMT

Even with only six months of credit history? Lol yeah right

Re: Synchrony question..

Ron1 — Sun, 26 Apr 2015 03:49:25 GMT

JC Penney.

Ron.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:16:18 GMT

@Ron1 wrote:
JC Penney.

Ron.

That is true, JCP would rather give you something (low limit) rather than a denial if possible.

I got a JCP with something like 25 inquiries and 30 new accounts. Ended up with a $100 limit although most banks probably would have just given me a denial

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:23:16 GMT

Yeah but what is your oldest account? I only have six months of revolving credit history. I like JCPenney, but I wouldn't have much of a user for it. Last time I shopped there was about 4 years ago lol. I wonder how my chances would be for Walmart? I hear good things about how synchrony cards grow with you. Plus, the financing options and cashback at the register as a regular purchase are singing to me, as I'm not creditworthy of a Discover It yet.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:31:24 GMT

6 months credit and a 673 FICO? You're good to go for Walmart. Make absolutely sure your AAoA is at least 6 months. Maybe a small limit but should get the approval.

My Walmart started at $150 and is now like $10K. The only thing that doesn't grow is the "cashover" amount limit which is still stuck from day one at $30 even with a 10K limit...sucks.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:31:54 GMT

I guess I'm just chicken to apply, I was saying in another thread that I had applied for the Walmart card back in November, was declined due to insufficient credit history. Only one month of First Premier lol.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:33:11 GMT

But in my defense, I had not registered here yet, nor did I know about the credit pulls database as well

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:40:22 GMT

@Anonymous wrote:
I guess I'm just chicken to apply, I was saying in another thread that I had applied for the Walmart card back in November, was declined due to insufficient credit history. Only one month of First Premier lol.

With only 1 account, your inquiries are just wasting away anyways.

Truth is you could probably get Chase Freedom, Walmart and Discover (Barclays perhaps) all at once if you have over 6 months history with your First Premiere.

Did you do the Capital One Pre-Qual? I suspect you'd get a Venture or QuickSilver as well.

Stick with TU pullers. Why are your EQ and EX so low? Do you have baddies?

Plan out an App spree from hardest to easiest and just do it.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:40:42 GMT

I have 5 accounts actually. First Premier in Oct, Cap 1 Secured in November, QS1, Platinum, and an Overstock card in January. Been trying to maximize myFICO scores. EX and EQ have a chargeoff from 2008, and a paid judgment from 2011 is reporting on all the CRAS. TU is clean other than the paid judgment.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:42:31 GMT

Plus, I've also recently been denied for the Barclaycard rewards average credit. Not enough credit history, spoke to two analysts. I think I'll keep reconning that until I get approved haha

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:43:58 GMT

TU 4 INQ, EQ 6, and EX 3

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:47:53 GMT

@Anonymous wrote:
QS1, Platinum, and an Overstock card in January.

That's the common issue when rebuilding...you start getting approvals and want more You keep getting new cards every couple of months and nothing ever grows. You're forever "rebuilding" if you don't take the time to garden.

People with thick files can app every month or mini-sprees every 3 months.

Rebuilding credit...you must garden then app spree for quick results.

My suggestion is wait the full 6 months from your last App; then go for the nicer cards. Don't space out your apps every 3 months.

With a thin file, every time you app, you push yourself 6 months farther away from a Barclay.

Garden 6 months then spree. You'll get bigger limits and approvals that way instead of getting small limits every 3 months.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:52:01 GMT

That's what I'm planning on doing. 6 months from now, I'll have a year of credit history, and the last of my derogs across all reports should be gone, minus the judgement. I'll be in a much better position score wise and credit wise. Then, I'll plan an attack!

Re: Synchrony question..

CreditMagic7 — Sun, 26 Apr 2015 04:54:22 GMT

@Anonymous wrote:
@Anonymous wrote:
QS1, Platinum, and an Overstock card in January.
With a thin file, every time you app, you push yourself 6 months farther away from a Barclay.

With a thick one too everytime you add a new app

At the rate things have been going (new approvals so often) i'll be forever waiting to land Salllie Mae.

So absolutely yes hold off for at least 6 months w/Barclays.

Re: Synchrony question..

Anonymous — Sun, 26 Apr 2015 04:55:19 GMT

I will admit, this forum does make it hard to garden sometimes, but I'm forever grateful! I just need to garden garden garden