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I shockingly received in the mail yesterday two denial letters from Synchrony Bank, one for Walmart and Amazon. I asked for $25K but was approved for $6K, I guess they consider that a denial and they send you some nice recon info.
The good news like many of us know (nice to get it personally validated) Synchrony's TU FICO 08 pulled on me (the bad 667 TU) is exactly the same score as what you see and get if you have a Walmart store or MasterCard with there free monthly Transunion FICO 08 score and Credit Check Total (CCT) FICO 08 TU score.
Walmart FICO 08 Transunion Score...
Credit Check Total Transunion FICO 08 Score...
Synchrony Bank Transunion FICO 08 Score letter they sent me...
How often can you request a CLI for Walmart?
@Jdana70
Once a month after each statement being ultra aggressive since it's always a soft pull there is no harm. The four-month waiting myth with Synchrony is just that. But if your TU credit score or report doesn't increase much or not at all from the time of your last CLI with them or from your initial card approval the odds are they'll only give you CLI every three or four months.
Meaning, let's say you got a CLI of $2K in October with a 660 TU score and 50% total credit card utilization on all your credit cards. If your TU score and total credit card utilization basically stays the exact same or close to the same they're almost certainly not going to give you another CLI until the four month mark or until something dramatically changes for the better on your TU credit report. That is why I will ask for a CLI in back-to-back months after my large CLI in October. My TU score and report will drastically change in Nov/Dec for the better over that time period.
@Anonymous wrote:@Anonymous
Once a month after each statement being ultra aggressive since it's always a soft pull there is no harm. The four-month waiting myth with Synchrony is just that. But if your TU credit score or report doesn't increase much or not at all from the time of your last CLI with them or from your initial card approval the odds are they'll only give you CLI every three or four months.
Meaning, let's say you got a CLI of $2K in October with a 660 TU score and 50% total credit card utilization on all your credit cards. If your TU score and total credit card utilization basically stays the exact same or close to the same they're almost certainly not going to give you another CLI until the four month mark or until something dramatically changes for the better on your TU credit report. That is why I will ask for a CLI in back-to-back months after my large CLI in October. My TU score and report will drastically change in Nov/Dec for the better over that time period.
@Anonymous for the infor @Anonymous
I should've also added if the stated income you gave them on your initial card application or on your last CLI changed and say went up $10K+ annually that could also help push another CLI approval through for you before the four-month Synchrony myth benchmark time frame.
@Anonymous wrote:I should've also added if the stated income you gave them on your initial card application or on your last CLI changed and say went up $10K+ annually that could also help push another CLI approval through for you before the four-month Synchrony myth benchmark time frame.
Now that's better news
Some of you might know with a Walmart store card or MasterCard you get a quick cash/cash advance limit of usually 20% of your total credit card limit. My Walmart card had only a $400 limit and a $80 cash advance limit (20%). Then when my credit line got increased to $6,000 11 days ago I was hoping it would increase to $1,200 (20%) of my new line to match the exact percentage I had before.
Sadly with the Walmart store card (I don't know about the MC that's replacing my store card) I come to find out a that you must carry a balance of any amount for Synchrony Bank to generate a monthly statement for you. How is that even legal?
I verified that Amazon will issue you a statement with a $0 or even a negative balance like I had once (refund I think after PIF one month).
I let $6.12 report on my Walmart balance forcing them to create my first monthly statement in six months so I could see if they raised my cash advance limit from $80 to $1,200. Big NO!
I called Credit Solutions and they said they only handle credit limit increases not cash advance limits, I thought that was weird. They transferred me to a CSR and I told her that my cash advance percentage of 20% of my credit limit wasn't increased after my CLI. She put me on hold to talk with a Supervisor and she came back saying they needed to pull my credit.
I asked her if it was going to be a soft or hard pull inquiry and she said instantly it was a soft pull so I said no problem. She puts me on hold comes back and says her supervisor now can't promise me it will be a soft or hard inquiry because I'm converting to a Walmart MasterCard. **bleep**? I tell her I will wait until I receive my Mastercard in the mail in the next two weeks and after activating it I'll call back to see what they say.
**Update**
Walmart did in fact, raise my cash advance to $1,200 on my Wally MC to match the 20% of the total credit limit. Just too them one statement to fix it.
Just got off the phone this morning with Sync UW 877-379-8175 and tried to get a CLI on Walmart MC and Amazon but got denied
I received a huge CLI on both cards exactly 45 days from today and only two statements have been cut since. I'll try again on Dec. 21st after my third statement cuts for both cards and then again Jan.20th (after my 4th statement cuts) when a ginormous baddie falls off on Jan.4th (hopefully EE) and my TU score should jump up by at least 15-20 points or more. In the meantime going to run everything through the Wally MC to show major usage.
Huge congrats to you!!!!