When will Synchrony love me again?

[cynicaldragon83]

November has been busy.

I had applied for a few apartments and was approved for 3 out of 4 of them. (yes!). Signed a lease on the one I liked best and the planned move in is December 1st.

I was looking to finance a bed, and it seems like almost all of the furniture stores in my area use cards that are backed by Synchrony, an issuer who was burned in my BK (maybe 3 or 4 cards...can't think of the amount off hand but was at least a couple thousand)

Instant denial with no pull - letters notes "Unsatisfactory prior obligation".

I was just wondering when Synchrony will let me back in. It's a point that is moot now as I will just pay for the bed in cash but I'm more or less just wondering the story is for future reference.

Thanks all!

[FireMedic1]

No telling with the way Sync has been acting. Honestly. If you can afford it. Buy it. No finance $ out the window.

[MileHigh96]

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@cynicaldragon83 wrote:

November has been busy.

I had applied for a few apartments and was approved for 3 out of 4 of them. (yes!). Signed a lease on the one I liked best and the planned move in is December 1st.

I was looking to finance a bed, and it seems like almost all of the furniture stores in my area use cards that are backed by Synchrony, an issuer who was burned in my BK (maybe 3 or 4 cards...can't think of the amount off hand but was at least a couple thousand)

Instant denial with no pull - letters notes "Unsatisfactory prior obligation".

I was just wondering when Synchrony will let me back in. It's a point that is moot now as I will just pay for the bed in cash but I'm more or less just wondering the story is for future reference.

Thanks all!

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It could be a very long time.  I too burned Synch in my BK7 and I'm now 16 months post discharge and they still won't even approve me for the secured Amazon store card they offer, which is the only Synch card I would really want to have at this point.

[Goal7502022]

I burned Synchrony on four cards and it took two years before they let me back in with Lowes and Care Credit.

[twono]

My BK 7 was DC'd a little over 3 yrs ago....I burned Synchrony for about $40k....I was approved for the Amazon store card for $1700 about 2.5 yrs after DC.  

Some data points:

Score at time of Amazon approval  - about 650 TU

Current FICO 08: EX 683, EQ 673, TU 662

INQ:  EX 1, EQ 0, TU 3

Utilization: 16% on $23k available credit among 6 cards ($3k Kohls survived BK)

Once my utilization is under 9% and only 1 card reporting a balance instead of 4,  i should be flirting with 700's....Many of my 09 scores are right at or over 700....EX 09 is 717 currently.

[2b2rich]

when was your discharge?

Two things come to mind:

1) Not enough time has passed since your discharge.  In my case (discharged Jan 2020), I was finally approved for a LOWEs card about a month ago with a $3K SL.. I burned them for almost $10K and Amazon for about $2K.

2) You can have really good credit and even accounts with them that have excellent payment history, and still be denied.  When I first closed on my house in 2015, I had excellent credit with Ficos 770-790 and also had an amazon card from Synch that was $900 CL.  After I closed on my house we went to pick out new furntiure for my son's room at a local rustic furntirure store and after it was all picked out and we did the financing thing it came back denied.  I was embarrassed for my son and couldn't understand because they told me Synch was the funding.   After I got home there was an email from them unrelated to the denial and it was notifiying me that they had increased my Amazon to something like $1,900.  I guessed that I was denied because of that and that I had a Lowes card thorugh them with a CL of $10K .