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Those apps were very new. They have considered it a spree.
Synchrony is a strange beast. They denied my SO for the exact same reason for the Marvel card, and she only had ONE inquiry on her report at the time. Go figure! Unfortunately, they do not recon, so the computer decision is final.
@Anonymous wrote:Those apps were very new. They have considered it a spree.
Synchrony Bank may consider it a spree, but I certainly don't. The Lowe's Advantage Card was the product I applied for since June of 2015. Sure, they were all recent. Though I would expect Synchrony Bank's algorithm, software, underwriting standards, etc. to take notice that this isn't an 'spree' based on most recent opened account (credit card) was over 3 years ago (excluding lease from April 2016). I know you didn't set the standards of course. I'm only venting, that's what this sub forum is for, right?
@Anonymous wrote:Synchrony is a strange beast. They denied my SO for the exact same reason for the Marvel card, and she only had ONE inquiry on her report at the time. Go figure! Unfortunately, they do not recon, so the computer decision is final.
"Strange beast" is a nice description for Synchrony Bank. Though likely the most appropriate description for this public forum. I could think of worse. Sorry they denied your loved one. I wasn't aware that Synchrony Bank does not permit reconsideration. Thank you for this information. Unfortunately, I have a plan currently underway. I will not allow Synchrony Bank to ruin this plan and Synchrony Bank will be likely 'left in the dust' for the time being. In fact, it may be a couple years before I decide to attempt this once more. Synchrony Bank's loss, but I understand it's not personal of course. I feel like I took a decline for the first time fairly well.
Nevertheless, hopefully others here can benefit from this thread. Which will allow them to understand Synchrony Bank's requirements to avoid their own decline in the future.
Wow! Last September I apped for three Synchrony cards within 2 weeks and was approved for all of them. Amazon Prime, Car Care, and Conoco. Synchrony is an odd duck!
@Medic981 wrote:Wow! Last September I apped for three Synchrony cards within 2 weeks and was approved for all of them. Amazon Prime, Car Care, and Conoco. Synchrony is an odd duck!
They are! I apped for Care Credit and Walmart on the same day and was approved for both.
OP:
While I agree that Sync has generally been considered a liberal lender on here and it may seem odd that you were declined with an excellent score and clean file have you checked your EX recently? I noticed that the most recent EX score you provided was the one from AmEx on 09/12/18. I'm not sure when in the monthly cycle AmEx updates their scores or how recent the data underlying that score is but it could be out of date by the time you applied for the Lowes card. Your Citi and Chase inquiries were 9/11 and 9/24 were around or after the AmEx score update. For a profile that hasn't had any inqs for several years, 2 inqs in quick succession can instantly drop your scores by a few points (I'm not sure how many but possibly 10-20pts). While 750 is still a very good score, I think the sudden buck in the trend there may have been a big factor in the denial.
Look at it this way. You are an automated UW algorithm. You get a profile. Nice and smooth for several years, no inqs, no new accounts, no derogs. Then all of a sudden, inqs 9/11, 9/24, and your app 9/24. If I was a programmer, that's just the sort of exception trigger that I would program into the system vs. someone who's added a new card or account every so often on a regular basis. I know you have no nefarious intentions, but the computer algorithm doesn't know that.
PS: if you want to check your updated EX scores, freecreditscore.com is a site that EX runs that gives you your FICO and report free along with free time alerts.
@NaaryalHead wrote:
I think 3 apps within a months time might have triggered the denial condition.
Computers can be pretty cold. I got booted off of discover just for checking the prequal page every few days until last week. Now i see a permanent "oops something went wrong with prequal really request" everytime.
I would just wait for about 3 months and then try applying again perhaps!
You got booted because you have to wait 8 days from the last attempt. They won't check again. If you were able to go through it, it just the same info over and over until that 8 days passes.