@Horseshoez wrote:
@jetcat12 wrote:
@Anonymous wrote:
Research shows me I might have the score to obtain a Sam's Club MC. I'm concerned about using a HP for it, then getting declined. Any thoughts on eligibility?
I know I'm a little late to the game, but the best advice I can give is to look at the cards offered by Comenity. *Overstock, Big Lots, Land's End, etc.* They usually approve using the shopping cart method and are generous with credit lines every 30-90 days. IMHO, they're worth the hard pull because the approval odds are higher than with the mainline issuers.
I could be misinterpreting what I've read,but from browsing other threads here on myFICO, it seems Comenity is more or less just another Synchrony where credit limits can be reduced at the drop of a hat or accounts can be completely closed without notice. If you need a high credit limit for utilization purposes, Comenity and Synchrony are not the best option for making sure those limits stay in place.
It appears to be so.
If an individual amasses too many Comenity accounts in a short period, it could happen. But, that's always the risk with anything including Citi Retail, for instance (if you have the time, go read past threads on this topic).
That said, the impact is definitely felt for individuals who may have several cards with either lender if AA were to occur. But, in it of itself, that's not always the case. Go peruse both Comenity mega-threads (e.g. CLI HP/SP DPs and SP SCT)-- no massive closures going on. CLDs have been known to happen with both lenders, but that's due to AA - no different than BoA, Citi, Chase, Discover, AmEx reducing lines to mitigate risk.
Comenity differs in their AA approach in that if you have several accounts with them and decide to open a new one (or several) of their V/MC variety, if changes in a profile and/or credit seeking behaviors are present, they can close some or all (or none at all). Also, they don't rely on VS4 metrics like SYNCB does.
And, unlike SYNCB that's made headlines since last year for massive closures, there's a plethora of individuals whose accounts are still intact on both fronts (I have several from both for the past 15+ years).
Bottom line, in moderation, a well-planned strategy and a decent profile, one can still obtain CCs from Comenity and/or SYNCB, but I would definitely be selective and determine whether such products would be the right fit.
