topic Synchrony-Backed Cards Question -- Underwriting Standards in Credit Cards

Synchrony-Backed Cards Question -- Underwriting Standards

designated_knitter — Fri, 20 Nov 2020 17:48:14 GMT

So I have accounts through Synchony for Amazon, Sams, Paypal, and Newegg.

Does each merchant have their own underwriting standards in terms of whether or not to grant CLIs, or even new accounts or does Synchrony have basically the same standards across their portfolio.

In other words, is it harder to get CLIs for Paypal than Amazon? Or are they the same and based on how Synchrony "feels" about you (yes, I know it is business but for lack of better word...)

Thanks in advance for any insight y'all might have.

Re: Synchrony-Backed Cards Question -- Underwriting Standards

Anonymous — Fri, 20 Nov 2020 17:53:30 GMT

Anecdotal evidence and DPs indicate that standards vary by cards

Like the Marvel MC is usually around $2,000 limit or something like that, meanwhile CareCredits can be brought into 10-20k+ with easier CLIs

Re: Synchrony-Backed Cards Question -- Underwriting Standards

Phana24 — Sat, 21 Nov 2020 00:54:22 GMT

went for the PayPal card when they offered 2% cash back. Synchrony has been a real surprise. I believe their call centers are in the Philippines, and the reps are very helpful, knowledgeable, and when I had a complicated issue over a mess a vendor made on my card, got me in touch with an American who called promptly when promised. I actually prefer having an issue with Synchrony vs. Amex, and I always had Amex as the standard.

Re: Synchrony-Backed Cards Question -- Underwriting Standards

staticvoidmain — Sat, 21 Nov 2020 10:44:03 GMT

@Phana24 wrote: I actually prefer having an issue with Synchrony vs. Amex, and I always had Amex as the standard.

Amex solves my issues 100% on the first try (online chat). Synchrony on the other hand... issues unresolved to this day (e.g. I gave up adding their cards to my mobile wallet). Plus they make me call them back because, for some stupid reasons, they have to send verification through mobile... while using my mobile on the call.

Re: Synchrony-Backed Cards Question -- Underwriting Standards

AverageJoesCredit — Sat, 21 Nov 2020 12:03:19 GMT

@Phana24 wrote:
went for the PayPal card when they offered 2% cash back. Synchrony has been a real surprise. I believe their call centers are in the Philippines, and the reps are very helpful, knowledgeable, and when I had a complicated issue over a mess a vendor made on my card, got me in touch with an American who called promptly when promised. I actually prefer having an issue with Synchrony vs. Amex, and I always had Amex as the standard.

Its nice to read a positive review on Synchrony for once. As seen by following post, Sync can be ymmv/yemv.

Synchrony has different UW for each card. As stated above , some cards , cli can be gotteb easier than others. Imo, Paypal and Amazon are hardest to get much over 10k though some have done so based off their 8ncome/ profile

Re: Synchrony-Backed Cards Question -- Underwriting Standards

Phana24 — Sat, 21 Nov 2020 20:34:40 GMT

@staticvoidmain wrote:
@Phana24 wrote: I actually prefer having an issue with Synchrony vs. Amex, and I always had Amex as the standard.
Amex solves my issues 100% on the first try (online chat). Synchrony on the other hand... issues unresolved to this day (e.g. I gave up adding their cards to my mobile wallet). Plus they make me call them back because, for some stupid reasons, they have to send verification through mobile... while using my mobile on the call.

I know that's the standard, but I've had great luck with Sych. Perhaps it's because their calls to PayPal M/C go to the Philippines and I get my wife on the phone who greets them in Tagalog or Visayan, and then gives the phone to me. Perhaps my recent experiences with Credit One(yeah, I was that stupid to fall for the 5% scam) has lowered my standards.

Re: Synchrony-Backed Cards Question -- Underwriting Standards

MoneyBurns — Sat, 21 Nov 2020 20:48:17 GMT

I also will add positive DP for Synch.

I was charged interest when my plane tickets were never refunded in the timely manner the airline promised. I was hit with interest and long story condensed, they refunded my money (this occurred twice and they in good faith, gave me refunds on both occurrences).

They auto CLI me from my 6.8k SL to 10k in around 6 months or whatever it was into using their card.

I have gotten very knowledgeable reps for all my issues and they were all taken care of fairly easily.

It YMMV but for me, I don't see why Synch gets all the hate while the other major issuers who have CLD get passes.