topic Re: Sync bank and forgiveness? in Credit Cards

Sync bank and forgiveness?

spiritcraft1 — Fri, 18 Oct 2019 15:14:56 GMT

Anyone here with success in getting back in with sync after CO's? I have two, rather large showing zero balances as they were sold to Midland in 2015. (Sams and Lowes) DOFD was 3-2014.

Interested in experience in getting back in... Thanks.

Re: Sync bank and forgiveness?

Remedios — Fri, 18 Oct 2019 17:03:29 GMT

Synch gets over it in time, but your TU should be higher than what it is now

That $0 balance is accounting measure only because it got sold to collections, they retain internal records showing loss.

The only way to find out is by applying.

Re: Sync bank and forgiveness?

spiritcraft1 — Fri, 18 Oct 2019 17:26:46 GMT

Thanks. My FICO scores are in countdown mode to all of the bad falling off. I was thinking to app for something like a prime store card, Payboo or TJX as some Sync accounts can grow nicely over time. Not that I need it for anything other than to have another account aging until I am clean late next year.

I mentioned the zero balances as they are not actively collecting on these. I am sure they have records! I do have a couple large no PG business accounts with sync that I PIF but they have not connected those dots apparently.

Re: Sync bank and forgiveness?

Brian_Earl_Spilner — Fri, 18 Oct 2019 17:31:18 GMT

They won't because different entities. They don't influence each other.

Re: Sync bank and forgiveness?

spiritcraft1 — Fri, 18 Oct 2019 17:41:38 GMT

I should mention that I do not want s store card just for the sake of having another CL. Where is the Amazon card in their pecking order in terms of being approved? DW was approved for her lowest limit 2 months ago @ 640 for $600 (She is now 678 or so). All of our scores should do nothing but rise for the next year and a half so there's that.

Re: Sync bank and forgiveness?

Anonymous — Fri, 18 Oct 2019 18:06:32 GMT

I had an Amazon store account that was charged off in 2015. CL was $600. I paid the CA for the chargeoff a few years ago. In April of this year I got a Synch Lowe’s card which sits currently at $6000. They definitely get past it, but paying what was owed may well be a component to that.

Re: Sync bank and forgiveness?

spiritcraft1 — Fri, 18 Oct 2019 18:12:18 GMT

@Anonymous wrote:
I had an Amazon store account that was charged off in 2015. CL was $600. I paid the CA for the chargeoff a few years ago. In April of this year I got a Synch Lowe’s card which sits currently at $6000. They definitely get past it, but paying what was owed may well be a component to that.

Thanks, the ship has long sailed on that. I guess I will look over the list of sync accounts and see what might be worth a HP at some point. It would have to be something that would grow over time.

Re: Sync bank and forgiveness?

Anonymous — Fri, 18 Oct 2019 18:15:03 GMT

I imagine eventually that repayment fades in importance. Paying back likely hastened my return is what I should’ve said.

Re: Sync bank and forgiveness?

JaseT — Fri, 18 Oct 2019 18:26:18 GMT

I had an Amazon Store card that was included in my BK7 back in 2016 for about $4k. Since then, I have obtained another Amazon Prime Store Card $10k, PayPal Cashback Rewards MC $10k, and a Lowe's $35k. So they do forgive. I did have a previous Lowe's card with a $10k limit but I closed it prior to filing my BK to maintain the good credit line on my reports. Not sure if that previous account helped with my post-BK cards or not.

Re: Sync bank and forgiveness?

Shawn19AL — Mon, 30 Dec 2019 12:49:19 GMT

I had a Ashley Home Card, paid and closed ($1000CL in good standing when I paid it off and closed it), Tivol Card, paid and closed ($500CL in good standing when I closed it)

Paypal connect , paid and closed ( $800CL in good standing when I paid it off and closed it)

Old Navy, charged off - paid via PRA

Walmart, charged off - just set up payment arrangement

Amazon, Charged off - just set up payment arrangement

Paypal , charged off - paid via PRA

Do you guys think I would be able to get back in with Sync now at the stage Im in. I would like my Amazon card back but I still have 2 accounts not paid yet, or just wait the 6 months?

Re: Sync bank and forgiveness?

Rudy1 — Tue, 31 Dec 2019 00:22:59 GMT

@Shawn19AL I would say wait until those 2 accounts are paid off because the chances of getting in with a balance from a charge off for the same card is slim. After though you definitely have a chance because Synchrony tends to be forgiving and flexible if you did get an Amazon card the limit may start out low but you could definitely build it over time.