topic Re: Synchrony - best strategy for getting a higher credit limit in Credit Cards

Synchrony - best strategy for getting a higher credit limit

Anonymous — Thu, 12 Nov 2015 02:05:45 GMT

Hello,

tl; dr: which would get me a higher credit limit on a new Walmart application:

apply for the Walmart first, and then close the $20K TJX? Or
close the $20K TJX first, then apply for the Walmart (maybe give it a couple of days between closing/opening?)

Background:

I have two cards with Synchrony with limits of $20K and $15K each.

TJX Mastercard $20K
Paypal Mastercard $15K

I would like to get a Walmart Mastercard, and close the unused TJX Mastercard. From what I understand, Synchrony does not allow a product change.

Any advice is greatly appreciated.

Re: Synchrony - best strategy for getting a higher credit limit

Anonymous — Thu, 12 Nov 2015 02:41:12 GMT

If it were me. I wouldn't close anything. As long as your scores and income support it you should get a similar credit limit with the walmart card. And then you'll hv that much more available credit.

Re: Synchrony - best strategy for getting a higher credit limit

Anonymous — Thu, 12 Nov 2015 02:59:42 GMT

My only suggestion would be to apply for the card and see what happens. If your credit profile supports a high SL then Synchrony will approve you for it. Best of luck!

Re: Synchrony - best strategy for getting a higher credit limit

Anonymous — Thu, 12 Nov 2015 03:11:26 GMT

Are you under $100k in agregate credit lines across your Sychrony Cards? If well below that, I don't think you need to close anything. Increases on CL will be determined by your credit profile and income mostly.

Re: Synchrony - best strategy for getting a higher credit limit

Anonymous — Thu, 12 Nov 2015 23:27:13 GMT

Thank you very much folks. I will keep the TJX card open then.

On a different note, has anyone applied for 2 of the same kinds of card with Synchrony? In that case, have you got the sign-on bonus for both cards, or only for the first card?

Thank you.

Re: Synchrony - best strategy for getting a higher credit limit

taxi818 — Thu, 12 Nov 2015 23:41:52 GMT

Best strategy. Keep util as low as possilbe but have high usage on the card you want the increase on. Then call credit solutions. Works every time. thinking of my paypal master card.

Started at $600 limit last july. (2014). Auto increase of $200 in september 2014. Heavy usage and calling. Currently at 10k. a self imposed cap.