Strictly speaking Synchrony how many is too many?

Anonymous · ‎12-28-2018

Strictly speaking Sychrony how many accounts is too many accounts and what is considered a short period of time?

I’ve read the threads. Now I’m looking for numbers.

I have:
Walmart opened Oct 2017 $0bal, $8k cl
BP opened Dec 2017 $0bal, $5k cl
Chevron Visa opened July 2018 $0bal, $2,900 cl
Ethan Allen opened Dec 26, 2018 $8271 pending charge, $15,450 cl.

I want the Amazon card, but would need to pull the trigger by month end before my self imposed gardening for all of 2019.

I don’t know how many inquiries I have on TU. Probably 15 over the last 2 years with 70% being the last 18mos. My TU score is 698 FICO 8 (was a 703, but Synch pulled my credit 😋).

Thoughts? I don’t want the dreaded blue letter!

Edit: just received an alert from FICO that my TU score is now 715...go figure

FinStar · ‎12-28-2018

If you don't want the dreaded "blue envelope" then it would likely behoove individuals to not poke the bear.

If you amass a lot of SYNCB accounts in a short period of time (defined by SYNCB internally), plus not to mention other risky factors that they may become aware of, then it may likely place one on their radar.

The maximum unsecured lending exposure across all their products is $100K.

I currently have 11 CCs with them, but these were all obtained in a period of several years.

Best advice I can provide, space things out. If you have to wait, it's usually worth it.

DaveInAZ · ‎12-28-2018

@FinStar wrote:
If you don't want the dreaded "blue envelope" then it would likely behoove individuals to not poke the bear.

If you amass a lot of SYNCB accounts in a short period of time (defined by SYNCB internally), plus not to mention other risky factors that they may become aware of, then it may likely place one on their radar.

The maximum unsecured lending exposure across all their products is $100K.

I currently have 11 CCs with them, but these were all obtained in a period of several years.

Best advice I can provide, space things out. If you have to wait, it's usually worth it.

Ah, that's reassuring. I was a bit concerned when Sync took over my PayPal Credit account w/$4k CL as I already had Walmart & Lowes store cards and PayPal Cashback MC, all at $10k CL each, bringing me to $34k. But they're all very spaced out, Walmart in 2/2013, Lowes in 1/2015, PayPay Cashback MC 7/2017, and PP Credit whenever that was - sometime last fall.