Synchrony LoveSac approved but have question

[Anonymous]

I applied for a credit line thru LoveSac and got approved. I got the “card” in the mail with a $1,000.00 limit. It shows on my credit as an open line currently. I haven’t tried to use it yet. But I got a letter in the mail today from them saying that my application was approved with a line amount of $1,000.00. The next line is where I’m confused. It then says “we were unable to assign the credit line you requested for the following reasons”. Has anyone ever seen this? Can they approve you, assign you an account # and THEN follow it up with a “we can’t do it” letter? Any insight is appreciated.

[pipeguy]

Sounds to be like you were approved for a $1000 credit line, which was less than you requested, but still approved for the noted $1000.

[Anonymous]

Well it lists some of the negatives on my credit after that line. 

[pipeguy]

---

@Anonymous wrote:

Well it lists some of the negatives on my credit after that line. 

---

Just random reasons why you were not approved for the full requested loan amount.

[pip3man]

If you receive a not so favorable credit line or terms, lenders are required by law to provide you a disclosure of the reason why you weren’t approved for the best terms they have. With the company I work for, the first two reasons listed on that letter are usually the main factors, every other reasons are just to fill up space and didn’t quite impact the decisioning.

[CGeorge]

I I had one of those recently, from HSBC. I was approved for $3,000 - but the letter was indicating that they had been unable to give me more favorable terms than I had requested. This was probably the interest rate. But each month I do PIF, so I don't really pay much attentionto the interest rate - except when I BT. You weren't declined - good luck to you!