topic Re: Sams club store card in Credit Cards

Sams club store card

Anonymous — Mon, 17 Apr 2017 09:52:30 GMT

Well had my first limit decrease, i only had 437 buy now its 250, wondering if i should pay it off and close it.

Re: Sams club store card

UncleB — Mon, 17 Apr 2017 12:07:50 GMT

@Anonymous wrote:
Well had my first limit decrease, i only had 437 buy now its 250, wondering if i should pay it off and close it.

I'm not going to suggest what might be right for you (since that can vary from person to person) but years ago I also experienced Synch AA/CLD... in my case it was Lowe's.

They actually balance chased me all the way down to close to where you are, and I was annoyed as well (since I had a perfect payment history with them). I was going through a lot financially at the time (my scores were crashing) so I wasn't surprised, but at the time it was like a stab in the back.

I intended to close the card, but I tossed it in a junk drawer instead where it stayed for years. Miraculously they didn't close it, and I decided to occasionally use the "toy" limit I was left with from time to time. Fast-forward a few years, and it's now my oldest bankcard and one of my highest limits at $20k.

TL;DR Synch cards can recover after AA if you're patient.

Edited to add: My AA was due to a sinking score; if your CLD was just due to non-use you might be able to hit the button now and get some (if not all) of your limit back without even having to wait.

Re: Sams club store card

AverageJoesCredit — Mon, 17 Apr 2017 14:00:37 GMT

As UB says no one can tell you what to do but realistically, not enough info for people to offer any real solid advice. How long have you had this card? Whats your Ficos look like. Anything new going on with your profile like lstes, baddies etc. Usually when Sync cld someone there is some factor at play. In this case the drop wasnt huge as if you had 5k and dropped you to 300 bucks, though i know any cld can feel that way. Please update us on how your profile is doing.Thanks and sorry.

Re: Sams club store card

Anonymous — Mon, 17 Apr 2017 18:25:24 GMT

Thanks I might hang on to it my fico is in the 630ish range had that card about 5 months not real worried about it as i am my amex and cap ones and nfcu accounts appreciate the advice fellas

Re: Sams club store card

austinguy907 — Mon, 17 Apr 2017 19:08:56 GMT

Were you using it?

When's the last time you used it?

Have you hit the CLI button or called CS?

$437 seems like an opening limit because synch is a bit *tarded when they assign opening limits for whatever reason. When you pick them up the first course of action should be to CLI the account and use it. IME they tend to CLD / Close when it hasn't been used for about 2 years from the last transaction.

Re: Sams club store card

AverageJoesCredit — Mon, 17 Apr 2017 19:12:50 GMT

I agrre with AG, seems like a starter limit. My first cl with Sams was 737 lol Which begs me to ask , what score do we usually see Sams get apprived for because most of rhe posts i see concern Wally. I know i didnt get Sams until i think i was 650+.

Re: Sams club store card

austinguy907 — Mon, 17 Apr 2017 19:16:57 GMT

Well, the PLCC requirements are a lot lower than the MC. PLCC can be sub 600 potentially if they want to let you in the door. The MC though starts coming into focus around 700-720. Either way they suck when it comes to APR or even contemplating an APR reduction. Though the MC does have some perks to it that are useful until you pick up some well known cards that grow much further.

Re: Sams club store card

DaveInAZ — Mon, 17 Apr 2017 19:54:34 GMT

@AverageJoesCredit wrote:
I agrre with AG, seems like a starter limit. My first cl with Sams was 737 lol Which begs me to ask , what score do we usually see Sams get apprived for because most of rhe posts i see concern Wally. I know i didnt get Sams until i think i was 650+.

$737 was my SL too, and my ending CL - I absolutely hated the Sams Club store card. In my experience with Synchrony Amazon, Lowes & Walmart accounts, Sams Club Synch is absolute worst for service & CLs. I found a great deal on 4K UltraHD TV on Cyber Monday thru SlickDeals. I could have bought it as a non-member for a 10% surcharge and considered using my Discover card which hd warehouse clubs in the 5% rewards, and sure wish that's what I had done. But I noticed a promo of a $45 statement credit for being approved for a Sams Club card & making a $100+ purchase the same day. I thought that I'm in so good with Synch Walmart ($6k CL) and Lowes ($5k) that they'll approve me the MC which has decent rewards, so I app'd - $737 SL for the store card, with TU FICO score around 680!

So I PIF'd by the next statement, and used it a couple times at Walmart to have activity on it - the nearest SC is an hour away and as I'm happily single buying in bulk doesn't work for me. By the 2nd statement I still hadn't received the $45 statement credit, so I called - the rep claimed that promo was for only app'ing in store & making purchase in store. I protested, pointing out that the promo was on the website & said nothing about in store only; rep refused to budge. I waited 5 minutes, called back & got a different rep but the same story. Then I looked up the EO backdoor # here and called, after some arm twisting the rep gave me the credit "as a courtesy". Then after the 4th statement I requested a CLI and got the 10 day letter notice. When the letter arrived it said "insufficient history to consider a CLI at this time". **bleep**??? I did a CLI request on my Discover card at 3 months and got a CLI from $4k to $6k.

I was so PO'd I closed the account. Yeah, I wasted a HP & new account, but the satisfaction of closing that useless POS was worth it. And BTW, I was on my Walmart account this morning and thought 'what the heck?' and requested a CLI from $6k to $10k, instant approval. Sams Club can shove it.