Should I apply for Synchrony Plus World Mastercard?

[Anonymous]

Hello, I got a promotional letter in the mail from Synchrony saying that I was approved for the Synchrony Plus World Mastercard, with 1% cash back and no annual fee and an interest rate of 19.99%.  The deadline for acceptance is 12/8/21.  My best FICO score is Equifax 9 with a 763, and my worst is Experian with a 670. Transunion is about 700.  I have opened about 6 credit cards this year and I probably should garden more, but a preapproval looks nice.  My specific questions are: 1) does this really mean preapproved or is it just a marketing ploy; 2) would I likely get a credit limit of at least $1200? if not its not worth applying; 3) which credit bureau are they likely to pull?  If they pull Experian, forget it.  Thanks in advance for any opinions.

[Anonymous]

You've already opened 6 cards this year. If I were in your shoes, I would just chill for a while. 1% cashback is nothing to write home about; just let your profile age up and then you'll be in a good position to get much more compelling cards.

[FinStar]

The SYNCB pre-approvals are not 100% guaranteed. The terms could easily change upon submitting the RSVP depending on when they last SP'd the PRM to make the offer, but no one can say for sure what limit you'd receive, if approved. Some SYNCB V/MCs can start anywhere from $500 on up.

If you've recently opened several accounts (not to mention inquiries) then I would seriously give it some thought on whether adding a 1% cashback card is worth your time/effort. SYNCB V/MCs have been known to double pull (in some cases triple pull) either TU & EX. So, if you want to avoid any extra HPs, it's something to consider. But, if you want to spin the wheel...

[Trini88]

I got the same letter in the mail and i opened the same amount of accounts as you. That letter is sitting in my shredder 😂. Garden for better cards.

[Wavester64]

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@Anonymous wrote:

You've already opened 6 cards this year. If I were in your shoes, I would just chill for a while. 1% cashback is nothing to write home about; just let your profile age up and then you'll be in a good position to get much more compelling cards.

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OP, I agree with @Anonymous here.