Time to apply for a Visa/MC?

[Anonymous]

Hello everybody! As always, thanks for your insight in all related to this journey of credit.

So, I got a few weeks ago a CLI on my Newegg Store Card from $1200 to $2000 via Customer Support.

Yesterday I tried the CLI through the website and it gave me a CLI from $800 to $2500! And today I tried my Amazon Store Card and yes, from $800 to $2500!

So, since I'm getting love from Synchrony, I'm wondering if it will be a good time to apply for the Sam's MC. We bought all of our groceries at Sam's and Walmart, so having this card will be a great way to get some rewards. 

Will it be a good time to apply since they gave me a CLI on my three Synchrony accounts within one month? Or should I wait? My FICO8 is at 681, no collections or late payments and a utilization of 22%, with 5 inquiries in each CB within the last 12 months.

Thanks for your answers!

[Anonymous]

Where are you getting your FICO score from?  I think you'd be able to get the card you want but you'd be better served if you brought your utilization down below 20%.

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@Anonymous wrote:

Hello everybody! As always, thanks for your insight in all related to this journey of credit.

So, I got a few weeks ago a CLI on my Newegg Store Card from $1200 to $2000 via Customer Support.

Yesterday I tried the CLI through the website and it gave me a CLI from $800 to $2500! And today I tried my Amazon Store Card and yes, from $800 to $2500!

So, since I'm getting love from Synchrony, I'm wondering if it will be a good time to apply for the Sam's MC. We bought all of our groceries at Sam's and Walmart, so having this card will be a great way to get some rewards. 

Will it be a good time to apply since they gave me a CLI on my three Synchrony accounts within one month? Or should I wait? My FICO8 is at 681, no collections or late payments and a utilization of 22%, with 5 inquiries in each CB within the last 12 months.

Thanks for your answers!

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[Anonymous]

If you currently already have 3 cards with Synchony, I would apply with a different lender if you want to add any V/MC. If your ultimate goal instead is to have a Walmart/Sams card, I would wait at least 6 months. 

Please search the forum on Sync shutting down accounts. 

[Anonymous]

Thanks for your reply! My FICO8 is from BoA using TU. My EX is 686 and EQ is 680.

I'm paying some balances this month so it will bring my utilization under 20%. I'm wondering if because it seems that they're approving my CLI it could be a good time for the MC. I was denied by them one year ago because of a collection that I managed to remove, and they denied all my Amazon CLI requests for over a year, so that's why.

[Anonymous]

Should I wait 6 months since I opened the cards or since the last CLI?

[UncleB]

IMO I would hold off on the Sam's Club MC app... to get the MasterCard version (which in this specific case is much more desirable than the PLCC) you'll want your TU to be as close to 700 as possble. 

In the last few years I recall seeing a couple of approvals where the TUs were in the high 690s, but in most cases sub-700 will land you the store card rather than the MasterCard.  As a data point, my own was approved when my TU was ~710; the modest starting credit line I was assigned made me think I was likely marginal.

Since there's no clear path to upgrade at this time (you just have to reapply) it's usually worth waiting until you have the best shot for the MC version. 

[Anonymous]

Yeah, I was checking and it seems that on 700+ your chances to get the MC are way better, so will hold down a few months until my score is over 700 and try. Thanks for your answer!

[Meanmchine]

The magic number for  Synchrony bankcards appears to be TU680.  People have gotten in with less.  You can try Walmart and Samsclub.  If they wont give you a  MC, you should at least get their store card.  Do NOT apply for Marvel, Chepoair, or Ebates.  These require 720ish

If you want a little fun, you can try the shopping cart trick and try to get s Sportsmans Guide Visa from Comenity. Its easy to get and with a little luck, it will only be a soft pull

[Anonymous]

I've tried the Sportsman SCT with no luck. But I don't want to mess Comenity, I've got a Paypal Credit and Overstock which I use a lot with nice limits.

Anyways just applied and gotten the Paypal Extras MC, so to garden until 2019!

[Harvey26]

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@Anonymous wrote:

I've tried the Sportsman SCT with no luck. But I don't want to mess Comenity, I've got a Paypal Credit and Overstock which I use a lot with nice limits.

Anyways just applied and gotten the Paypal Extras MC, so to garden until 2019!

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Congrats on the Paypal MC. Try discovers prequal you might get a decent SL with them.