topic Re: Is this Newegg/Synchrony card's max limit? in Credit Cards

Is this Newegg/Synchrony card's max limit?

indygo — Fri, 20 Jan 2023 00:46:36 GMT

Have a Newegg store card through Synchrony, and put in for a CLI, and got this response:

"The amount exceeds the limits set by our credit policy"

Current line is $10k, is that the maximum for that card, or am I hitting against something else?

Re: Is this Newegg/Synchrony card's max limit?

coldfusion — Fri, 20 Jan 2023 02:15:34 GMT

For the vast majority of Synchrony cards $10K is the maxinum limit available either as a starting limit or as a CLI requested online. The Lowe's card is probably the most widely known exception to the rule.

If you want to request a CLI that would boost the credit limit over $10K you should call their Credit Solutions line and request a CLI over the phone. They'll typicaly process the request and give you a decision while you wait.

You can look up the phone number in this thread: https://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

Re: Is this Newegg/Synchrony card's max limit?

fury1995 — Tue, 24 Jan 2023 03:28:51 GMT

@indygo wrote:
Have a Newegg store card through Synchrony, and put in for a CLI, and got this response:

"The amount exceeds the limits set by our credit policy"

Current line is $10k, is that the maximum for that card, or am I hitting against something else?

Do you have any other Sync accounts? It could be your max exposure on all Sync accounts. Obviously $10k is not the max credit line for this particular card. I've seen three times that credit line from other posters here on this forum. I've run into this myself with my Amazon card which seems stuck at $10k but I was able to initiate a limit increase on my Care Credit Dual Card from $10k to $15k and my Sam's Club auto CLI'd the same a week prior.

Re: Is this Newegg/Synchrony card's max limit?

coldfusion — Tue, 24 Jan 2023 11:01:19 GMT

@fury1995 wrote:
@indygo wrote:
Have a Newegg store card through Synchrony, and put in for a CLI, and got this response:

"The amount exceeds the limits set by our credit policy"

Current line is $10k, is that the maximum for that card, or am I hitting against something else?
Do you have any other Sync accounts? It could be your max exposure on all Sync accounts. Obviously $10k is not the max credit line for this particular card. I've seen three times that credit line from other posters here on this forum. I've run into this myself with my Amazon card which seems stuck at $10k but I was able to initiate a limit increase on my Care Credit Dual Card from $10k to $15k and my Sam's Club auto CLI'd the same a week prior.

@fury1995 the reason OP listed for denial is consistent with Synchrony's default administrative policy across the vast majority of their portfolio of cards to only approve increases to get to a $10K CL via online request, it isn't a function of the maxinum supported CL on that specific card, or either their overall Synchrony exposure or their credit worthiness. As I noted above the correct procedure is to call and request a CLI over the phone from the analyst, who will factor in these criteria as part of their decision making process as they are empowered to approve limits in excess of $10K up to the maxinum supported by that particular card.

Re: Is this Newegg/Synchrony card's max limit?

BronzeTrader — Tue, 24 Jan 2023 12:15:00 GMT

@coldfusion wrote:
For the vast majority of Synchrony cards $10K is the maxinum limit available either as a starting limit or as a CLI requested online. The Lowe's card is probably the most widely known exception to the rule.

If you want to request a CLI that would boost the credit limit over $10K you should call their Credit Solutions line and request a CLI over the phone. They'll typicaly process the request and give you a decision while you wait.

You can look up the phone number in this thread: https://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

Most of Syn's cards are store credit cards. They are not supposed to be run up to likr $10,000. That is clearly for business use to buy something even close to that level.

If so, get a business card. So some charge cards.

Re: Is this Newegg/Synchrony card's max limit?

coldfusion — Tue, 24 Jan 2023 15:22:32 GMT

@BronzeTrader wrote:
@coldfusion wrote:
For the vast majority of Synchrony cards $10K is the maxinum limit available either as a starting limit or as a CLI requested online. The Lowe's card is probably the most widely known exception to the rule.

If you want to request a CLI that would boost the credit limit over $10K you should call their Credit Solutions line and request a CLI over the phone. They'll typicaly process the request and give you a decision while you wait.

You can look up the phone number in this thread: https://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066
Most of Syn's cards are store credit cards. They are not supposed to be run up to likr $10,000. That is clearly for business use to buy something even close to that level.

If so, get a business card. So some charge cards.

OP could very well be looking to increase their CL either to pad their aggregate utilization numbers or is contemplating a large purchase(s) on the card and wants to keep its reported individual utilization down, by leveraging a soft-pull CLI.

FWIW, I've put 5-figure purchases on credit cards before for personal use.

Re: Is this Newegg/Synchrony card's max limit?

OmarGB9 — Wed, 25 Jan 2023 04:23:27 GMT

@BronzeTrader wrote:
@coldfusion wrote:
For the vast majority of Synchrony cards $10K is the maxinum limit available either as a starting limit or as a CLI requested online. The Lowe's card is probably the most widely known exception to the rule.

If you want to request a CLI that would boost the credit limit over $10K you should call their Credit Solutions line and request a CLI over the phone. They'll typicaly process the request and give you a decision while you wait.

You can look up the phone number in this thread: https://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066
Most of Syn's cards are store credit cards. They are not supposed to be run up to likr $10,000. That is clearly for business use to buy something even close to that level.

If so, get a business card. So some charge cards.

Pretty sure consumers can spend as much as they like on their card, up to their limit, regardless of whether it's a store card or not.

It doesn't have to be for business use...

Re: Is this Newegg/Synchrony card's max limit?

DONZI — Wed, 25 Jan 2023 04:40:46 GMT

$10k isn't neccesarily hard to rack up on tech, personal or business.

Re: Is this Newegg/Synchrony card's max limit?

fury1995 — Wed, 25 Jan 2023 15:21:12 GMT

@coldfusion wrote:
@fury1995 wrote:
@indygo wrote:
Have a Newegg store card through Synchrony, and put in for a CLI, and got this response:

"The amount exceeds the limits set by our credit policy"

Current line is $10k, is that the maximum for that card, or am I hitting against something else?
Do you have any other Sync accounts? It could be your max exposure on all Sync accounts. Obviously $10k is not the max credit line for this particular card. I've seen three times that credit line from other posters here on this forum. I've run into this myself with my Amazon card which seems stuck at $10k but I was able to initiate a limit increase on my Care Credit Dual Card from $10k to $15k and my Sam's Club auto CLI'd the same a week prior.
@fury1995 the reason OP listed for denial is consistent with Synchrony's default administrative policy across the vast majority of their portfolio of cards to only approve increases to get to a $10K CL via online request, it isn't a function of the maxinum supported CL on that specific card, or either their overall Synchrony exposure or their credit worthiness. As I noted above the correct procedure is to call and request a CLI over the phone from the analyst, who will factor in these criteria as part of their decision making process as they are empowered to approve limits in excess of $10K up to the maxinum supported by that particular card.

I would almost believe this is fact had I not seen approved credit line increase requests via online or auto for many Sync accounts on this very forum from many Sync accounts excluding Lowes and including Amazon. I myself experienced approvals increasing the limits above $10k in the first request. For example, these Sync accounts increased in the last 60 days with a simple online-soft pull request, even with frozen/locked reports.

Care Credit nearly doubling from $8k to $15k, PayPal doubling from $10k to $20k, Sam's Club $5k increase from $10k to $15k.

Are the Dual Cards treated differently?

Re: Is this Newegg/Synchrony card's max limit?

K-in-Boston — Sat, 28 Jan 2023 14:34:56 GMT

@fury1995 wrote:
@coldfusion wrote:
@fury1995 wrote:
@indygo wrote:
Have a Newegg store card through Synchrony, and put in for a CLI, and got this response:

"The amount exceeds the limits set by our credit policy"

Current line is $10k, is that the maximum for that card, or am I hitting against something else?
Do you have any other Sync accounts? It could be your max exposure on all Sync accounts. Obviously $10k is not the max credit line for this particular card. I've seen three times that credit line from other posters here on this forum. I've run into this myself with my Amazon card which seems stuck at $10k but I was able to initiate a limit increase on my Care Credit Dual Card from $10k to $15k and my Sam's Club auto CLI'd the same a week prior.
@fury1995 the reason OP listed for denial is consistent with Synchrony's default administrative policy across the vast majority of their portfolio of cards to only approve increases to get to a $10K CL via online request, it isn't a function of the maxinum supported CL on that specific card, or either their overall Synchrony exposure or their credit worthiness. As I noted above the correct procedure is to call and request a CLI over the phone from the analyst, who will factor in these criteria as part of their decision making process as they are empowered to approve limits in excess of $10K up to the maxinum supported by that particular card.
I would almost believe this is fact had I not seen approved credit line increase requests via online or auto for many Sync accounts on this very forum from many Sync accounts excluding Lowes and including Amazon. I myself experienced approvals increasing the limits above $10k in the first request. For example, these Sync accounts increased in the last 60 days with a simple online-soft pull request, even with frozen/locked reports.

Care Credit nearly doubling from $8k to $15k, PayPal doubling from $10k to $20k, Sam's Club $5k increase from $10k to $15k.

Are the Dual Cards treated differently?

Yes, those accounts are treated a bit differently. They have a massive portfolio, and most cards will hit a cap at $10k without calling Credit Solutions.

Re: Is this Newegg/Synchrony card's max limit?

User131 — Tue, 31 Jan 2023 12:01:32 GMT

FWIW my personal data point is that the credit analyst, reached by phone, has a great degree of discretion.

3-4 years back, I called and requested a CLI on my Rakuen Visa CL, which IIRC was 10k. He actually responded, "what would you like", and then when I replied with "40k", he said "done". I was rather startled by this, but sure enough, the increase in CL posted immediately. When the card was discontinued, it was automatically transferred to their 2% rewards card.