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Have 1 account with Sync Bank and wondering from the FICO'ers if 2 accounts might get the.."blue envelope " ?
Gotta card I'm looking at...
Hi cuthatcard,
No one can tell you this for certain. Most likely, part of the answer depends on how recently you were approved for the other Synchony bank card. If it was within the last 4-6 months, I would say not to poke the bear.
It may also depend on whether you've been poking Synchrony for CLI's on the other card recently as well.
Personally I would not apply for any Synchrony cards if I did not have them already based on the inconsistent and negative behavior they have been displaying toward cardholders lately, but that's just my opinion.
They don't offer anything particularly special and their interest rates are very high, so those are other points to consider in your decision. ![]()
I don't anyone knows for sure what would trigger a blue envelope. Most reports that I have read involved 100k exposure and six figure incomes, although there have been a few with average incomes and low exposure, so who knows.
Personally, I have opened 7 Synchrony accounts this year and have received huge CLIs on six of them. No blue envelope yet. I'm also not overly concerned about it as I don't really need any of the accounts. I especially like my Amazon, Lowes and Care Credit lines, but could easily do without them. My Venture card alone has almost the same available credit as all of my Synchrony accounts combined.
Care Credit , and yes, it has been within the last 6 months but haven't ask for a cli.
@cuthatcard wrote:Have 1 account with Sync Bank and wondering from the FICO'ers if 2 accounts might get the.."blue envelope " ?
Gotta card I'm looking at...
My guess is what generates the blue envelope is folks who continuously apply for new credit, chasing the next new thing, and CLI's and therefore Sychrony who has every right gets nervous and whats to protect thier interests as the risk of defaults increases. CC issuers have the right to soft inquiry their members. I persoanlly have close to $100k with them and never had an issue. But my utility is always les than 10%





My co-worker has opened 7 Sync accounts in the past 6 months despite my advising him not to. He hasn't had a blue evelope yet and a couple of his cards are near max with them. I hope the hammer doesn't drop on him but wouldn't be shocked if it did.
For me, I have 2 Sync cards now, Sam's MC and Lowes...got rid of the rest of the dead weight I was carrying with them. I could honestly do without the Sam's MC but man, I'd sure hate to lose my Lowes card. It allows me to buy a lot of nice toys for the house interest free. Nothing like those 12-18 months no interest deals they seem to always run not to mention they'll price match and beat just about anyone you can find with the exact same item. Just picked up a new KitchenAid dishwasher last week... ![]()
I have Lowes, Sam's MC and EBates Visa. No blue envelope so far. I say go for it if you only have one account with them. I think the craze to call in and ask for $25k limits on several cards while stating a 6 figure income needed to be investigated by the bank. I have only asked for a CLI on my Lowes and feel quite good about the $5k lines on the other two.
@cuthatcard wrote:Have 1 account with Sync Bank and wondering from the FICO'ers if 2 accounts might get the.."blue envelope " ?
Gotta card I'm looking at...
I don't see an issue with 2 cards from them. I opened 3 within a 3 month period (Amazon Prime, Old Navy, and AE Visa) and have not had any issues. I've also gotten CLI's on them. I also PIF each month. I highly doubt they'll mess around with postage for a blue envelope for someone who has 2 cards with them ![]()