Comenity vs Synchrony Bank

[MrsCHX]

Thanks!

[RonM21]

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@UncleB wrote:

It seems that with Synchrony it's all about the TU score; much more so than income, at least in my case.

Many people start to see real movement once their score passes +/- 670, and then usually passing +/- 700 gets a bit more as well. 

Once you get to the mid-700s it seems there's very little holding you back (seriously).

Keep in mind, of course, there are other threads going right now on the 'perils' of "too much too soon" with Synchrony, but that's beyond the scope of this thread (and is easily found on it's own). 

Note:  the scores I listed above are just "guesstimations" based on my own experiences and the reported experiences of others... as with most things credit, YMMV.

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I don't have anything from Comenity but your thoughts on Synchrony seem to be right on in my experience with them, and from what I've read on these threads.

[Creditbuilder36]

I just got my updated scores. My Equifax is at 624 My Transunion is at 612 and my Experian is 640. I have 2. Baddies~~> My bankruptcy is 5 yrs old If Synchrony checks Transunion it may be a while before I get a decent increase in my limit also my utilization right now is at 50 % my goal is to get back down to 10%

[Anonymous]

After reading about Sychronys issues I can't say I would ever want to deal with them.

I'm still baffled as to how an approval of $150 can jump to $15,000 in one day... No offense to anyone it just doesnt make sense to me

Although if I did go with them I'm sure they'd hand me out a few K more than I can afford.

I can't say I would ever go with commenity either...

If either one takes over my Kohl's charge I will cry, then possibly consider dealing with them.

[minimist]

I have had Comenity cards almost as long as I've been rebuilding, 5 of them total all 3-4 years old and 3 Synch cards that are 3 months old each. Synchrony has given me more CLIs already than Comenity ever has, I don't think I've ever had an auto CLI from them and they refuse to let my JCrew get past $500 All of my Synch CLI's have been auto, I feel like I barely got in with them and definitely didn't want to rock the boat by asking for more.

Synch on the other hand started me off just as low as Comenity did but my lowest limit with them is now $800 more than my highest Comenity limit and I've only been a customer for 3 months!

[Anonymous]

1) Both have very high interest rates.

2) Synchrony does not have any 0% BT offers, and really does not offer any BT at all. Certain Comenity cards offer 0% BT for as long as 18 months, but in the past myfico members have been reluctant to use these due to some of the prior unpredictable behavior of Comenity.

3) Both have growth potential.

4) Both take forever for charges and payments to post.

5) Customer Service has generally been reported to be good with Synchrony.

6) Certain Synchrony cards have 0% financing offers.

7) Comenity cards can be helpful for people building or rebuilding credit, as long as they do not apply for too many Comenity cards.

8) Both have frozen or closed cardmember accounts and we still are not sure how those groups were selected to be closed or frozen.

9) Based on member reports on the board, Synchrony has enacted CLD sometimes when members have a number of months without card utilization, high overall utilization showing on their reports, or negatives that suddenly show on other parts of their report.

10) There are better cards than what Synchrony and Comenity offer.

I have Synchrony Visas and Mastercard, and a Comenity Visa, and I've never personally had any problems at all.

I have been very disappointed at the way both lenders have been acting over the last 2-10 months towards other members on this board with positive credit and payment histories, and a good lender relationship.

[Dahlia77]

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@Anonymous wrote:

Comenity: We take your cards away, then send you new ones the very same day.

Synchrony: We freeze all of your accounts and you find out when you go to pay for dinner at the grocery store while with 3 small children who are tired, hungry and need a nap.

Neither scenario is ideal.

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LMAO!!!!

Very concise but too funny ~

[Anonymous]

I got 65k limit with synchrony all aping one after another. This was after having a care credit with a 2500 limit for 6 ish months of so. TU score at time was also 698

[Creditbuilder36]

Interesting I still have no luck with synchrony bank but Comenity just issued another increase on my Victoria Secret card

[RaiseMyScoreASAP]

I opened a Kohl's card and they gave me $250. After almost three years it has been increased to $700. Opened a Lowe's account with $800 limit and requested it be raised to $10,000 and it was. Have a Belk card with Synchorony and the increases are regular without asking.

With Comenity it does seem to be how often and how much you use the card. Marathon and Eddie Bauer LUV button works so often. Small bu cosistent increases with ho HP. However, don't use JCrew as much and I am capped out at $1,000.