Synchronny Mastercard 2% cash back CLI UPDATED 5/20/23 Closed the Account

[mgood]

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@AndySoCal wrote:  @mgood  I am of the opinion at the moment that this is may be part of the credit tightening that I have heard about. 

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I suspect you meant to tag @Gmood1 
I know, the name is similar.

[AndySoCal]

@mgood  Sorry about that

[mgood]

Hey, no problem. I was just a little confused since I haven't posted in this thread and don't have a Synchrony card, so I was like "What does this have to do with me?" Then I scanned through the thread and saw @Gmood1 was in this.

[Anonymous]

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@mgood wrote:

Hey, no problem. I was just a little confused since I haven't posted in this thread and don't have a Synchrony card, so I was like "What does this have to do with me?" Then I scanned through the thread and saw @Gmood1 was in this.

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Oh right, and yes, we are supposed to believe you are different people!  OK, wink wink 

[CH-7-Mission-Accomplished]

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@Adkins wrote:

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@CH-7-Mission-Accomplished wrote:

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@AndySoCal wrote:

@coldfusion @M_Smart007  I called Synchronny regarding the CLI request and it was denied.

@805orbust  @Gmood1   FBNO is not an option for me I live out of their footprint. I looked at PenFed in order to recieve the two percent I would need to open a checking account. At this point that is something I am not willing to do. I may change my mind later on.

Thank you everyone for your input. Now I have to figure out what the next steps are. I will  have a better idea what they after I recieve the letter.

The original CLI request was from the LUV button.

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I would wait to get the letter before you act, but consider the Alliant Signature card.   It pays 2.5% cash back if you meet three requirements:

1.  Have at least one direct deposit monthly.  (I deposit $5 monthly.  You do not have to direct deposit your paycheck.)

2.  Maintain an average balance of $1000 in their "high yield" checking account that current pays 0.25%, which is better than 0.

3.  Sign up for electronic statements.

If for some reason you mess up and miss one of those three, they will only pay you 1.5% for the next quarter.   Your tier is decided quarterly.

I signed up for this card  5 years post-bankruptcy filing and got a $25K limit instant approval.  

Alliant is also excellent for auto loans.  I've gotten two from them at the best current market rate (most recent loan 1 year ago at 2.25%)   In each case I applied to three of the big credit unions in one night and by the following morning I had approvals with no proof of income or any other requirements - before I even received a single e-mail from the others.  

Alliant also has a great HUB for transacting ACH payments.

I belong to five ocredit unions and Alliant is the best of the best IMHO.  (I'm a member of Navy, Penfed, DCU & BECU as well.)

Alliant pulls Transunion and uses Vantage Score 4.   

Alliant is my go-to card for any spend that doesn't earn greater than 2.5%.

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Allaint moved to a monthly tier destination last August , in case you missed the announcement. 

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Thank you for pointing this out.  No need to peddle false information.

[Adkins]

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@CH-7-Mission-Accomplished wrote:

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@Adkins wrote:

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@CH-7-Mission-Accomplished wrote:

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@AndySoCal wrote:

@coldfusion @M_Smart007  I called Synchronny regarding the CLI request and it was denied.

@805orbust  @Gmood1   FBNO is not an option for me I live out of their footprint. I looked at PenFed in order to recieve the two percent I would need to open a checking account. At this point that is something I am not willing to do. I may change my mind later on.

Thank you everyone for your input. Now I have to figure out what the next steps are. I will  have a better idea what they after I recieve the letter.

The original CLI request was from the LUV button.

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I would wait to get the letter before you act, but consider the Alliant Signature card.   It pays 2.5% cash back if you meet three requirements:

1.  Have at least one direct deposit monthly.  (I deposit $5 monthly.  You do not have to direct deposit your paycheck.)

2.  Maintain an average balance of $1000 in their "high yield" checking account that current pays 0.25%, which is better than 0.

3.  Sign up for electronic statements.

If for some reason you mess up and miss one of those three, they will only pay you 1.5% for the next quarter.   Your tier is decided quarterly.

I signed up for this card  5 years post-bankruptcy filing and got a $25K limit instant approval.  

Alliant is also excellent for auto loans.  I've gotten two from them at the best current market rate (most recent loan 1 year ago at 2.25%)   In each case I applied to three of the big credit unions in one night and by the following morning I had approvals with no proof of income or any other requirements - before I even received a single e-mail from the others.  

Alliant also has a great HUB for transacting ACH payments.

I belong to five ocredit unions and Alliant is the best of the best IMHO.  (I'm a member of Navy, Penfed, DCU & BECU as well.)

Alliant pulls Transunion and uses Vantage Score 4.   

Alliant is my go-to card for any spend that doesn't earn greater than 2.5%.

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Allaint moved to a monthly tier destination last August , in case you missed the announcement. 

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Thank you for pointing this out.  No need to peddle false information.

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N/p. We're all here to help one another and learn. 

[AndySoCal]

Updated my post

[coldfusion]

I think you fatfingered the date when you updated the thread subject, 5/23/23 isn't until next Tuesday ;-)

[AndySoCal]

@coldfusion  I corrected the date.  Thank you

[Janneman]

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@AndySoCal wrote:

I opened the this account in May of 2022 with a $10,000 credit limit. I am adding additional spending on to the card.  With that in mind I tried for a soft pull CLI which was denied. The amount of the CLI I requested was $1,000. The reason for the denial is

The requested amount exceeds the limits of our credit policy.

I called customer service the original reason I was having problems viewing the letter.  Just after the CSR came on the line I was able to view the letter.   So I asked what the reason meant.  I gave the CSR a couple things about my credit never have been late my credit utilization is 1%. The CSR after a little more conversation offered to send my case if you please to a group for further review. So far I have not heard anything back this is day two. I have never been through this process before so I am not sure what to expect.  So far my two accounts are still open. Yes I know it is Sychronny and they can be unpredictable. My scores are in my siggy.The last new account I opened is theirs. Any ideas?

EDITED TO ADD: I think I have found a way to escalate my concerns higher levels of Synchrony. my basic complaint is no one can tell what the policy is I have violated. The last CSR said I would recieve a detailed expanation of why my app was denied. I received that letter same reason as stated above. I have sent an email I will see if I recieve any response.  If I close my account I have 4 possible credit unions. The three that are ACC membership options are State Depatment FCU, Signature FCU and Arkansas FCU. I have been in communication with Arkansas FCU based on their response it appears the ACC will bridge the geofence. I will update if and when I apply.  The last is a local credit union non ACC called Water and Power Community Credit Union. All of the above have pluses and minuses.

EDITED TO ADD 5/18/23: I recieved a call back from my email communication today. The representative told me it was NOT my credit score or my ability to repay was not why I was denied the credit limit increase. Basically the response was the card essentially is bucketed at $ $10,000 for me at least. I have the Synchronny World Mastercard with 2% cash back. The representative also siad they have other cards that do not have that restriction. So my initial reaction is to say good bye Synchronny. I will give it some thought before I do.

EDITED TO ADD 05/20/23 Account is closed.

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They are completely wrong if they told that this- Synchrony Mastercard is bucketed at $10k...I have this card since 2022-2023 with CL of $14k and my family member has for $18k....So, they are definately wrong if they say that its bucketed at $10k. I find reps would say anything even though they don't know for sure. I believe, the reason they couldn't raise your limit, system, its because of not using the card enough. These days most lenders set up their system this way. There is no way around to it.