Hello all,
I must say this site has been an invaluable tool that has helped me make sound decisions in rebuilding my credit. Once again I now have the chance to give a little something back. Hope this may help some folks that are on the fence and not sure if they want to pull the trigger or perhaps just be a little more informed or maybe in a similar situation.
I purchased a high end bed online and wanted to take advantage of 0% interest financing through Synchrony Bank. I had store accounts with Synchrony in the past for interest free financing. When I have previously applied for 0% interest on a furniture purchase the store usually requests a credit line for the amount of your purchase or a few hundred over. When you get approved from Synchrony it’s a credit card not an installment loan and you just maxed out your credit line. Now knowing this, I asked the Merchant to request a line of credit for $10K. The amount of my purchase was $7K. I was approved for the $10K line of credit with Synchrony. Credt utilization still high but better than maxed out. Since I was getting a HP I decided to apply for a few cards as well and to take advantage of the rewards.
Card Credit Line Instant Approval Pulled Rate
Synchrony $10,000 Yes Experian 0% 48 Mo
Discover IT $10,500 Yes Equifax 0% intro 12 Mo then varies 13.4 %-16.24% double cash back 1% cash back
Citi Simplicity $6,200 No Equifax 0% intro 21 Mo then 23.4 %
Chase Freedom Unlimited $6,000 Yes Transunion 0% intro 15 Mo then 14.24 % $150 bonus cash 1% cash back
Cit card received "Your application is pending further review. We need additional information from you. Please call....." Called Citi gave app ID #. The agent informed that I will be put on hold while pulling credit reports. Back on hold to get more signatures. About 7 min later was approved. I asked if they can increase the credit line said no. But I could call back once I received the card and request an increase but it will be a HP.
I have been monitoring the cards for a couple of months and was pre qualified per each site except for Synchrony. Did not get an exact interest rate with Discover only the variable rate.
I have one baddie on my Equifax report, a medical CO. I have previously burned Chase and Citi back in 2008 due to medical disability and unable to work and no income.
These are my scores when I applied and I'm in Arizona
FAKO Transunion 790
Fako Equifax 759
Discover FICO Experian 779
Income $74,880
Credit Karma showed the hard pulls a few minutes after applying. I was expecting around a 20 point hit due to the HP's. Interesting that Credit Karma showed my Transunion score went up 1 point and Equifax went down 1 point. I'm totally stoked about that. Note that Synchrony has not reported the $7k yet. Well that's it for me and I"m happy with the results 
Good luck to everyone and I wish you the best with your credit goals
Nice spree, great scores Enjoy the new bed
Enjoy the new bed