topic Re: Change in the way Synchrony handles accounts in Credit Cards

Change in the way Synchrony handles accounts

althes — Wed, 27 Nov 2019 23:30:48 GMT

They have been in a giving mood.

I suspect they have split mc/visa from store cards, and commercial for total credit.

Seeing how they are now using vantage.

Also they might be trying to increase market share then lump the balances from high fico users to sell on the market.

Re: Change in the way Synchrony handles accounts

Remedios — Wed, 27 Nov 2019 23:51:21 GMT

Or they are feeling the loss of Walmart account and are doing everything in their power to recover faster.

The easiest way to entice spending is to offer something that on surface looks like a good APR (paypal mastercard), disregarding the fact it was atrocious from the start. May not make a difference to those who claim to PIF, but most people dont.

Lenders pay to be able to provide score of either variety, Vantage is less expensive

Re: Change in the way Synchrony handles accounts

Anonymous — Thu, 28 Nov 2019 00:51:14 GMT

@Remedios wrote:
Or they are feeling the loss of Walmart account and are doing everything in their power to recover faster.

The easiest way to entice spending is to offer something that on surface looks like a good APR (paypal mastercard), disregarding the fact it was atrocious from the start. May not make a difference to those who claim to PIF, but most people dont.

Lenders pay to be able to provide score of either variety, Vantage is less expensive

While I agree that the original (and still my current one!) APR is atrocious, arriving at a 12.X% APR on a 2% no FTF/AF card is pretty good, so regardless of motivation, I will give them a LTL merit point.

Re: Change in the way Synchrony handles accounts

Remedios — Thu, 28 Nov 2019 03:36:16 GMT

@Anonymous wrote:
@Remedios wrote:
Or they are feeling the loss of Walmart account and are doing everything in their power to recover faster.

The easiest way to entice spending is to offer something that on surface looks like a good APR (paypal mastercard), disregarding the fact it was atrocious from the start. May not make a difference to those who claim to PIF, but most people dont.

Lenders pay to be able to provide score of either variety, Vantage is less expensive

While I agree that the original (and still my current one!) APR is atrocious, arriving at a 12.X% APR on a 2% no FTF/AF card is pretty good, so regardless of motivation, I will give them a LTL merit point.

I call dibs on few merit points because I haven't called a single lender in over two weeks.

Between buying Socks Bank love, and struggling for your acceptance, I'm exhausted.

Dont even pretend you're not impressed, I ain't buying it

Re: Change in the way Synchrony handles accounts

FinStar — Thu, 28 Nov 2019 04:12:58 GMT

@Anonymous wrote:
@Remedios wrote:
Or they are feeling the loss of Walmart account and are doing everything in their power to recover faster.

The easiest way to entice spending is to offer something that on surface looks like a good APR (paypal mastercard), disregarding the fact it was atrocious from the start. May not make a difference to those who claim to PIF, but most people dont.

Lenders pay to be able to provide score of either variety, Vantage is less expensive

While I agree that the original (and still my current one!) APR is atrocious, arriving at a 12.X% APR on a 2% no FTF/AF card is pretty good, so regardless of motivation, I will give them a LTL merit point.

I'm curious and O/T...what is 1 LTL merit point worth?

Re: Change in the way Synchrony handles accounts

Anonymous — Thu, 28 Nov 2019 13:03:36 GMT

@FinStar wrote:
I'm curious and O/T...what is 1 LTL merit point worth?

Roughly what you would expect!