Verizon Visa Approval Less Than Pre-approval

[Creditobsession]

I have been rebuilding my credit for three years. I started off with all three bureau scores in the low 500s and some versions in the 400s after a divorce where I pretty much had to start over with nothing. Long story short, I have been trying to get approved for the Verizon Signature Visa for about 6 months now. All Fico scores are in the low to high 700s, depending on version, with my bank card scores being solid 750s. With all collections now gone form my credit, I thought I'd try for preapproval once again. I was preapproved for $4000, then applied and approved for $2500. That kind of caught me off guard, but at least I was approved. I'm sure I'll get some CLIs along the way, so not too worried about it. Anybody else get approved for substantially less after preapproval? One thing I did do was close out and research before logging back on and going through the approval process again. This time is skipped the last part and went straight to the final application. One thing to note; I didn't expect a super high SL, because I opened a Wells Fargo Autograph card account two month ago. I know I should have waited on this one a bit longer, but the rewards are good, and I want to have certain cards before I simply age my accounts in preparation for a new home purchase next year. Thanks for any  thoughts.

[CreditAggie]

Congratulations on your Verizon Visa approval! I will let other community members chime in on their experience since I have never had this card.

[Matt9543]

If I recall correctly, Synchrony will tend to only allow a partial limit until you activate the card. Did it say the $2500 was temporary? Also, they're pretty quick to add to your credit report so that will show the full definite amount 

[keekers]

Congrats.

[NoMoreDebt]

Congrats

[Creditobsession]

Thanks for the reply! You are right on that. My temporary limit until my card arrives is $1500. It goes up to $2500 after that

I spoke to a Synchrony representative just to confirm earlier today. One thing I learned during the conversation is that Synchrony does not require your declared income to be on your check stub. So for approval, SL, and CLI purposes, you can include money given to you by roommates and significant others for bill splitting and paying in your annual income.

[CreditCrusader]

It's SYNC, so it's the ultimate YMMV on ALL things.

That group is an odd duck, to say the least.

Congrats on the approval!

[cashorcharge]

That’s Terrific!! Congratulations on your Approval!!👏🏼🍾🥂

SYNC has been prone to be all over the place with future CLI's so I would venture to guess with good management, you'll see growth in the future

[Creditobsession]

That is definitely in line with what I am reading all over this community board. Thanks!

Also, they use the Vantage Score 4.0 to check credit, and only hit TU. That surprised me. I thought they used Fico. My Vantage is about 60 points lower than my fico bankcard 8 and 9. I likely would not have applied had I realized that is where they pull.

[Legally_Speaking2512]

I can't speak on the pre-approval process when it comes to the Verizon Visa but I have had that with a couple other cards like store cards right after my bankruptcy where I was pre-approved for like $2500 and then when I accepted the offer it was like $1,500. Anyways congrats on the approval.💯💯