topic Re: Score range 300 to 620 from Synchrony bank. WTH? in Credit Cards

Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 12:36:12 GMT

I applied and was denied for amazon store card. They indicated "average number of months all credit accounts have been opened" as well as too many enqeries as a reason for denial. Interestengly they indicated that my score stands at 451. But range used is 300-620.. Im not feeling bad about decline, thay can go f themselves with this toy card. Id rather wait for a year any apply for premium cards.. Anyone has an idea what scoring model tgey used? How many months of history do they want to see? Just cirious

Re: Score range 300 to 620 from Synchrony bank. WTH?

FinStar — Wed, 08 Apr 2015 12:42:27 GMT

@orestrus wrote:
I applied and was denied for amazon store card. They indicated "average number of months all credit accounts have been opened" as well as too many enqeries as a reason for denial. Interestengly they indicated that my score stands at 451. But range used is 300-620.. Im not feeling bad about decline, thay can go f themselves with this toy card. Id rather wait for a year any apply for premium cards.. Anyone has an idea what scoring model tgey used? How many months of history do they want to see? Just cirious

Unless it specifically states a FICO score, it's based on their internal scoring system.

Re: Score range 300 to 620 from Synchrony bank. WTH?

Anonymous — Wed, 08 Apr 2015 12:45:27 GMT

@orestrus wrote:
I applied and was denied for amazon store card. They indicated "average number of months all credit accounts have been opened" as well as too many enqeries as a reason for denial. Interestengly they indicated that my score stands at 451. But range used is 300-620.. Im not feeling bad about decline, thay can go f themselves with this toy card. Id rather wait for a year any apply for premium cards.. Anyone has an idea what scoring model tgey used? How many months of history do they want to see? Just cirious

They typically pull TU so I'm not sure about that range. It's possible it's a misprint. I understand your disappointment but if it's a toy card why did you apply for it in the first place? Focus on getting your credit file in order and apply for cards then. What is your AAoA?

Edit - I read one of your other posts where you state that your credit file is only 5 months old. You need to let it age and stop applying for cards until it does. Otherwise you will be digging yourself a deep hole.

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 12:48:33 GMT

Should i wait for another 6 months or close to a year? I m just a little dissapointed, sorry

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 12:49:01 GMT

Yeah, AAoA is 5 months only

Re: Score range 300 to 620 from Synchrony bank. WTH?

Anonymous — Wed, 08 Apr 2015 12:53:16 GMT

@orestrus wrote:
Should i wait for another 6 months or close to a year? I m just a little dissapointed, sorry

I'd wait the six months and let those inquiries age. I'm not sure what your scores are but they should raise if you let the cards age that long and show responsible use. I understand your disappointment and desire to get more cards. You just need to be patient for awhile. If you do that you'll get to a point that when you apply for a card you will know that you'll be approved. Hang in there.

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 13:03:49 GMT

Thank you, ill definately follow your advice.. No scores yet for me, although creditone at one point stated 708 on their pre qualif site)

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 13:10:01 GMT

Can i recon with Synchrony?

Re: Score range 300 to 620 from Synchrony bank. WTH?

Anonymous — Wed, 08 Apr 2015 13:15:25 GMT

@orestrus wrote:
Can i recon with Synchrony?

Someone else will probably chime in but I'm fairly sure I've read that they don't do recons.

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 13:21:18 GMT

Interestingly they did approve me for walmart card 1 day prior

Re: Score range 300 to 620 from Synchrony bank. WTH?

Anonymous — Wed, 08 Apr 2015 13:41:47 GMT

@orestrus wrote:
Interestingly they did approve me for walmart card 1 day prior

It's not unusual for creditors to approve one application and then decline the second. They want to see how you can handle the one account for approving more. Certainly understandable when you are fairly new to the credit world.

Re: Score range 300 to 620 from Synchrony bank. WTH?

Anonymous — Wed, 08 Apr 2015 13:57:27 GMT

Recons don't happen with Synchrony. Keep the walmart card, let it age, then apply again for Amazon in six months. I was denied for Amazon 3 months before I was approved again so it is possible after a while.

Re: Score range 300 to 620 from Synchrony bank. WTH?

orestrus — Wed, 08 Apr 2015 14:01:09 GMT

Were you denied because of derogs or new credit ?

Re: Score range 300 to 620 from Synchrony bank. WTH?

TheGardner — Wed, 08 Apr 2015 14:09:00 GMT

Synch doesn't recon computer denials unfortunately. After a 6 months you will be in a better spot with 1 year AaoA (fico starts at 2 years). In 6 months go for Barclaycard Rewards and depending on profile maybe discover or Amex they both dig young files (Amex recently).

Good luck!