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synchrony bank ebay mastercard CLI

Josh2942
Established Contributor

synchrony bank ebay mastercard CLI

So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone
Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business
Message 1 of 17
16 REPLIES 16
Creditaddict
Legendary Contributor

Re: synchrony bank ebay mastercard CLI


@Josh2942 wrote:
So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone

did you call credit solutions or hit button online?

Message 2 of 17
Creditaddict
Legendary Contributor

Re: synchrony bank ebay mastercard CLI


@Josh2942 wrote:
So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone

also what does "taking on to much liability with sub prime borrows" have to do with the name change? GE has always had the issue of taking on to many sub prime borrows, it's why they nearly failed or at least why they have been on and off for sale for nearly a decade or more but can't sell because the balance sheet is just TO MUCH!

they still have not changed the model though so not sure how it wiill or why they would change it now with still no sale.

Message 3 of 17
gdale6
Moderator

Re: synchrony bank ebay mastercard CLI


@Josh2942 wrote:
So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone

Grats on your CLI Smiley Happy

Message 4 of 17
gdale6
Moderator

Re: synchrony bank ebay mastercard CLI


@Creditaddict wrote:

@Josh2942 wrote:
So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone

also what does "taking on to much liability with sub prime borrows" have to do with the name change? GE has always had the issue of taking on to many sub prime borrows, it's why they nearly failed or at least why they have been on and off for sale for nearly a decade or more but can't sell because the balance sheet is just TO MUCH!

they still have not changed the model though so not sure how it wiill or why they would change it now with still no sale.


GE is not selling their GECRB arm but spinning it off as its own entity (divesting itself from it), once it is completed GECRB or Symphony Bank as it will be called will not have the back up of deep GE pockets to cover losses as it has had in the past. The new entity will have to either generate sufficient cash flow from the interest it receives on its card portfolio or actually go into the banking business and take physical deposits to be able to back up what it lends. In either case its going to result in a change in business model they are not going to be able to continue to give subprime borrowers the huge lines they have in the past and if someone has such a large line and is still in the subprime category I would be expecting a substantial CLD from Synchrony.

Message 5 of 17
Josh2942
Established Contributor

Re: synchrony bank ebay mastercard CLI

The name change is to differentiate the bank from GE. GE capital Retail bank accounted for 40% of GE's overall earnings. They felt that was to much exposure so they want to drop it down to about 30% of its earnings. They are bring Synchrony bank to the market as an IPO. They already filed with the SEC. That's why there is a new name and new shares to invest. They are only releasing 20% of the shares though. I'm interested in investing. It's still a great bank.
Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business
Message 6 of 17
Josh2942
Established Contributor

Re: synchrony bank ebay mastercard CLI

I just did the automated. I don't care for it and it will get the axe after two years anyways
Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business
Message 7 of 17
pizzadude
Moderator

Re: synchrony bank ebay mastercard CLI

 

Moved to CC Approvals

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 8 of 17
-Wade-
Valued Contributor

Re: synchrony bank ebay mastercard CLI


@Josh2942 wrote:
So I have had my ebay mastercard since November with a 2k limit. It has the worst website to pay bills in my opinion. It got sock drawed almost immediately. I put about 45 dollars through it in between November and now. Asked for a 10k increase to make it relevant but got a counter to 3.5k. Not enough to take it out the drawer. The Freedom and my gold card have been primary for me. It's nice to get it. Better get in all the CLI from GE before the Synchrony is the new name. My neighbor works for GE Capital out of Connecticut and he says they have been taking on to much liability with sub prime borrows. I have great credit but the larger CLIs are great for anyone

Congrats on your CLI Smiley Happy

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 9 of 17
linux007969
Established Contributor

Re: synchrony bank ebay mastercard CLI

I just tried 3 times to get an increase on my Paypal Extras Mastercard just for the heck of it.

 

I tried automated system for 10k..................... denied

I tried credit solutuons in india for 10k........... denied

I tried credit solutions in the USA for 10k ...... denied

 

In the USA i even asked about moving lines and he said no.... i figured but i was wondering if that changed..... lol. the guy in the usa couldn't even tell me why is was denied just like their team in india, i even said if my account was too new you couldn't even tell me and he said that's correct.

 

So in the upcoming days i expect 3 different letters and i may get at least 2 different answers if i am lucky.

 

$3k is still a good limit but with the talk about them changing and about getting the limits increased while you can inspired me to try...... but i guess i'll just keep trying, i'll try sometimes before December if that's when they are changing.

 

Does anyone know when they will have stocks forsale? If the price is right i would like to buy some for my Roth IRA, so if its such a success, then the value of the stocks will only keep going up which equals more money for my retirement...... LOL!

 

 


Rebuilding Credit since 2016
Debt: Almost $80,000
Message 10 of 17
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