This card is quirky but they are pulling a 629 on the OP, which is probably too low for an increase. Last December my initial limit was $300 and by April it was $25K with only one $86 purchase.
NFCU GoRewards Sig ($40,000), NFCU Cash Rewards ($40,000), PenFed Power Cash ($25,000), FNBO Evergreen Visa ($20,000), Bread Financial Rewards Amex ($21,150), PNC Cash Rewards ($18,400), PNC Cashbuilder ($18,700) , One Key Mastercard ($14,000), Citi Double Cash ($11,600), US Bank Cash Plus($10,000), Discover It Cash ($9000), Capital One Quicksilver MC ($9000), Bank of America Unlimited Cash Rewards ($7500), Fifth Third Unlimited Cash Back Mastercard ($7500), Wells Fargo Active Cash Sig($7000), Apple Card ($6000), Amex BCE($6000), Amex ED($6600), X1 Card ($5000), PNC Points ($8000), Amex Cash Magnet($2000), Fifth Third Truly Simple ($4000), Truist Spectrum Cash Rewards($4500), Truist Bright Card($4500), CapOne Quicksilver(Bucketed @$1500 manually lowered to $500), US Bank Cash+ ($1,000), WF mortgage 195K Fico 8: EQ 778, TU 765, EX 758 FICO 9:EQ 829, TU 812, EX 791, AAoA-97 months, AoOA-28 years
Synchrony has been using Vantage 4.0 for CLI for my Lowe’s card. That’s possibly where the 629 came from.
Utilization and balance pay down are the predominant factor in the V4.0 score. Payment history is next. It’s also quite volatile because of the emphasis on utilization (over tine).
You can check your V4.0 score through your Lowe’s card account. Keep an eye on that and when it’s higher, submit your CLI request.
Utilization and balance pay down are the predominant factor in the V4.0 score. Payment history is next. It’s also quite volatile because of the emphasis on utilization (over tine).
You can check your V4.0 score through your Lowe’s card account. Keep an eye on that and when it’s higher, submit your CLI request.
Are they actually using Vantage for account maintenance? They could be like Capital One and give us Vantage scores on the site, but when you’re denied for an increase, a FICO score is on the denial letter. And it’s the mortgage FICO score at that.
@stonedog23 wrote:
Are they actually using Vantage for account maintenance? They could be like Capital One and give us Vantage scores on the site, but when you’re denied for an increase, a FICO score is on the denial letter. And it’s the mortgage FICO score at that.
Capital one does use mortgage scores for credit decisions (and shows Vantage in CreditWise).
Several of us are getting the Vantage 4.0 scores in our Syncrony letters for CLI (idk about new account approvals). My TU FICO8 is 700 +/- 5-10. My vantage 4.0 Is 630-645 depending on the day with one random spike up to 702 (the day Synch increased my Lowe's card to $12K-no letter since I only requested $12k-next day Vantage 4.0 down to 641 and no more CLI).
The scores in my letters match whatever the vantage 4.0 was on the day I requested. The reasons listed on the letter also match whatever it shows on the Vantage 4.0 scorecard (my top reason alternates between not enough mortgage paid off and serious delinquency).
There are a few threads around where others are reporting the same experience. I don't know if they are doing it for all accounts for all profiles-but certainly for mine (and the others who have reported the same). Since OP also has a large discrepancy between their FICO and the score on the letter, it seems a likely possibility that Synch is also using Vantage 4.0 for them.
@Anonymous wrote:When your scores improve so will your chances of a higher CL. It's truly that simple.
That's not the experience I had. My scores were very good. My credit was in pristine shape for house buying.
