Fairly certain I know the answer...
I have seen several posts about store cards converting to the Visa or MC version of same card. I, however, can't recall any of these being issued by Synchrony or Comenity.
Does anyone know of an example of a Synchrony or Comenity card being upgraded?
Thanks.
@Red1Blue wrote:I know Nordstrom converts from store card to visa
Nordstrom, Macy's and Target, are the one's that inspired my question. I believe their backers are a tad more stringent than Comenity and Synchrony.
I don't think Comenity upgrades cards at all. I can't remember seeing a single post about it. However, Sychrony has a long history of upgrading cards. The issue with Synchrony is that many store cards they offer don't have a Visa or Mastercard upgrade path. Recently, someone on here got their CareCredit card upgraded to a Mastercard account. When I used to have a Wal-mart store card, it was upgraded to a Discover version (before Cap1 took over). I know that they also used to upgrade JCPenney cards to a Mastercard version as well. I do recall that when my Wal-mart card upgraded, I got a CLI, but my account history did not transfer to the new card. It showed up looking like a new account. I am not sure if Synchrony is continuing this practice, but it is a huge potential downside if you are offered an upgrade. I can post a screen shot of the reporting, if you are interested.
@notmyname wrote:Yes, Syncrony just changed a lot of their Belk Dept. Store cards to mastercard at the end of 2019. It did surprise me.
Shop often at Belk (It just means more) but have been waiting on a really large purchase to pull the trigger.
Thanks!
@RehabbingANDBlabbing wrote:I am not sure if Synchrony is continuing this practice, but it is a huge potential downside if you are offered an upgrade. I can post a screen shot of the reporting, if you are interested.
Your choice. Any info is appreciated.
@FinStar wrote:
Any SYNCB upgrades are available by invite only, not something that can be requested. The potential downside to doing this (depending on how closely you manage AAoA, etc.) is that the upgraded MC/V version will report as a new tradeline and the store account will be closed. Some potential benefits would be that it can be used anywhere MC/V is accepted, a slight bump to the CL and additional rewards benefits not available by the specific store card.
With regard to Comenity, upgrades are fairly rare and by invite only depending on the specific PLCC program. No rhyme or reason for getting a targeted offer. So, it's one of those 'buyer beware' situations when you apply for some of their CCs (especially those offered as both store or MC/V/D versions), you can end up 'stuck' with with the store card if your profile doesn't qualify for any of the major CC versions.
I suspect this is what
@FinStar wrote:
Any SYNCB upgrades are available by invite only, not something that can be requested. The potential downside to doing this (depending on how closely you manage AAoA, etc.) is that the upgraded MC/V version will report as a new tradeline and the store account will be closed. Some potential benefits would be that it can be used anywhere MC/V is accepted, a slight bump to the CL and additional rewards benefits not available by the specific store card.
With regard to Comenity, upgrades are fairly rare and by invite only depending on the specific PLCC program. No rhyme or reason for getting a targeted offer. So, it's one of those 'buyer beware' situations when you apply for some of their CCs (especially those offered as both store or MC/V/D versions), you can end up 'stuck' with with the store card if your profile doesn't qualify for any of the major CC versions.
Actually some SYNCB cards do allow a request of sorts... because the store card is closed and a new account created, even without an offer *some* stores will allow an "upgrade" of sorts.
For instance, after your internal score is high enough (CSR said 6 months of heavy use and big payments) you can apply for the card again (requires HP) and receive the major version. These stores include Chevron/Texaco, Old Navy, Banana Republic, Gap and American Eagle Outfitters. Other stores may allow it too, these are card's I have either converted this way or CSR said I could upgrade this way. You would then have the option to keep the store card open and the major or close the store card later.
I have the store card (cl $10,000) and major (Visa cl $2,500) versions of Old Navy-- both have astronomical interest rates, the Visa version just allows you to reach Navist status faster since you get a point for every dollar spent outside the GAP brand's.
