Another Sync AA

[Anonymous]

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@Justagirl73 wrote:

Sorry to hear op.....but if you add in the marvel card from your siggy, you actually have 6 Sync cards. That is a lot with ANY one lender. If you add in the time frame, that really makes it stick out. 

I do fault Sync to a degree because they shouldn't have approved all of them. 

Good luck! 

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Good catch, justagirl!

[austinguy907]

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@Justagirl73 wrote:

Sorry to hear op.....but if you add in the marvel card from your siggy, you actually have 6 Sync cards. That is a lot with ANY one lender. If you add in the time frame, that really makes it stick out. 

I do fault Sync to a degree because they shouldn't have approved all of them. 

Good luck! 

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On the flip side we have a responsibility to not apply for several accounts with the same lender.  When you see 2+ accounts with a single lender it leans towards an addiction of approvals for new accounts.  There are plenty of "credit junkies" around here that need or have had credit rehab.  

[AverageJoesCredit]

Thanks Humu about the info on AARP. im not sure if Chase would like me. Only time i ever applied for anything related to Chase was last year when i tried to get the Amazon visa. They no likey bk. Butttt..... Perhaps once my file cleans up a bit and of course under 5 /24 , i may try as to diversify my profile.

I didnt see the siggy as im on mobile but one possible reason someone may try for multiple accounts with same lender is they just want credit from a couple of their favorite stores etc but dont realize they fall under same lender. Eventually one will realize they have multiple accounts with same lender but unless someone has a myfico to inform them of the dangers of having so many, one may not ever know why. Thankfully i found my fico in time. Synchrony 2/6 rule and end this madness

[Anonymous]

Are multiple accounts from one lender really that bad? I know too much exposure could have neg effect, but with chase letting you combine all your points, it's kind of hard to not have more than one for maximum rewards. To me, it seems they may like having customers with multi products. When I talked to a rep about my card once, I explained how much I like it and wished I had started getting chase cards a long time ago. She said something like, well maybe one day you'll have all our cards, or something to that effect. I only have 2 chase cards now, but want the csp in a couple yrs. Is it actually bad to have all that with one lender?

[austinguy907]

It can be bad to have those accounts with a single lender and they decide to shut them down or balance chase them for no apparent reason like the issues back in 2008 with the financial meltdown.  Diversify your collection while growing it and you'll survive with at least something instead of nothing.  Read up on the Synchrony, Comenity, and CHASE threads around here lately and you'll see it for yourself.

[Anonymous]

That's a bummer. I would love to add the csp and have the freedoms for max rewards like so many do, but scary to think of what could happen. Chase is the only lender I have more than one card with. Love my freedom and Freedom unlimited combo.

[austinguy907]

You could combine the Freedom cards and then add the CSP.  

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@Anonymous wrote:
That's a bummer. I would love to add the csp and have the freedoms for max rewards like so many do, but scary to think of what could happen. Chase is the only lender I have more than one card with. Love my freedom and Freedom unlimited combo.

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[Anonymous]

I personally don't want multiple cards with one lender. Anything could happen to make that lender jumpy....then you would be SOL (till you apped for new cards with another lender). There are a lot of threads where the poster had multiple cards with one lender and they were ALL shut down. 

My advice is don't put all your eggs in one basket 😀

[Anonymous]

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@austinguy907 wrote:

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@Justagirl73 wrote:

Sorry to hear op.....but if you add in the marvel card from your siggy, you actually have 6 Sync cards. That is a lot with ANY one lender. If you add in the time frame, that really makes it stick out. 

I do fault Sync to a degree because they shouldn't have approved all of them. 

Good luck! 

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On the flip side we have a responsibility to not apply for several accounts with the same lender.  When you see 2+ accounts with a single lender it leans towards an addiction of approvals for new accounts.  There are plenty of "credit junkies" around here that need or have had credit rehab.  

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That's why I said to a degree......

[UncleB]

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@Justagirl73 wrote:

I personally don't want multiple cards with one lender. Anything could happen to make that lender jumpy....then you would be SOL (till you apped for new cards with another lender). There are a lot of threads where the poster had multiple cards with one lender and they were ALL shut down. 

My advice is don't put all your eggs in one basket 😀

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+1

I agree... but even with my agreeing and knowing it's 'good business' to have diversity I still ended up with four accounts with Synchrony. 

In my case (and probably many others) it's not that we're "in love" with Synch, it's just that they back so many retail cards now it's hard to avoid them.  In my case, my Lowe's and Belk cards are my two oldest accounts (12 and 10 years, respectively) and I don't want to close either due to this.  My other two cards with them are Sam's Club MasterCard and Care Credit, both of which I am actively using (Sam's Club MC very actively). 

I would put Chase in the same category... they back so many 'partners' it's hard to avoid them (especially for a frequent traveler). 

With Synchrony (and Chase, to a lesser degree) I would just say to be mindful of your velocity in acquiring new cards with them (or large CLIs), as these two things seem to be common factors with the people who have had issues (with a few exceptions).  In my case, both the Amazon store card and JC Penney could be useful, but I mindfully refrain from getting either since "a bird in the hand is worth two in the bush", and the value of my existing cards with Synchrony mean more to me than the possible value of the new additions I have my eye on.