Synchrony Exposure Question

[bigseegar]

Below is my total Synchrony exposure on the 4 Synch cards with DP I have (or plan on having for a while). Thinking about asking for a CLI on the Amazon card primarily just to increase available credit and of course assist with UTI as always (current UTL is 6%). I don't need this increase at all as I don't even come close to using the full limit I have now on Amazon of course. So what I don't want to do here is two fold. 

A. Most important of course I don't want to poke the Synch Bear or draw uneeded attention to myself

B. I DO want to get CLI on the VZW Signature Visa at or around the 6 month mark and I don't want to do anything to mess that up.

I know none of us can predict what that bear might do. But a lot of you folks do seem to have a grasp on it. So, thoughts on the Amazon CLI and esp as it relates later (around June) to seeking a VZW Visa CLI if any? Personally I don't see where my exposure is all that great on the 4 Synch cards. All CLI have come using the Love Button.

1. Amazon Prime Store Card (01/2020) SL $1500 Current Limit $5100 only ask for one CLI 7 months ago

2. Car Care Card (6/2020) SL $600 then decreased to $300 for non use. Started using it and current Limit is $2,600. Increase (7/21) $800, $2,600 (a month ago)

3. Lowes (6/21) SL $2,000. Two Increases back to back same day (08/21) $10,000 > $20,000 same day

4. VZW Signature Visa (10/21) SL $6,000

Recent Total Card DPs are: (4/6) 4 new cards 6 months, (8/12) 8 new cards past year, Inq 8 across the Board

[FinStar]

Admittedly, none of us hold a crystal ball 🔮 to determine what SYNCB might do, that decision really hinges on you. I mean, it sounds like you need reassurance things will be ok?

It depends on the risk tolerance you're willing to accept given any previously reported SYNCB AA instances. Some profiles fare better than others 🤷‍♂️

The question you need to ask yourself is whether any "padding" is necessary on something you might not use as much (i.e. Amazon). Also, do you see yourself frequently using 25%-50% of the limit on your VZ Visa?

While it's possible nothing could happen come the time you might entertain requesting a CLI, no one here knows what predictive behaviors may trigger different AA scenarios months down the road.

My advice, fly below the radar and be selective on the CLIs (and frequency) that you request. 

[CYBERSAM]

General consensus is under 50K you should be safe! Over 90K you should be concerned!

To Sync, perfect profile or Fico score does not matter. You can find many who had their CC canceled just because, once they reached high CL overall.

Personally I would not go over 20K on each card and cancel the ones you are not going to use just to be safe. They know many use their CCs to pad overall utilization and they don't like it.

[CloudyWeather1331]

I almost have the same question. I want to get a 500 CL increase on my amazon card, which would make my total exposure in all Sync Cards 20k exact. Is that okay? I don't want all my cards getting cancelled.

[4sallypat]

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@CYBERSAM wrote:

General consensus is under 50K you should be safe! Over 90K you should be concerned!

To Sync, perfect profile or Fico score does not matter. You can find many who had their CC canceled just because, once they reached high CL overall.

Personally I would not go over 20K on each card and cancel the ones you are not going to use just to be safe. They know many use their CCs to pad overall utilization and they don't like it.

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Very good numbers to follow!

Ironically, I just lost the B&H Sync card due to contract closure so I lost $8,000 of CL from Sync.

Guess that can only help reduce exposure ?

[tcbofade]

Honestly, I don't think that you're in any danger.

...but I also don't think that you should poke the bear for a CLI that you don't need...

Good luck with whatever you  decide!

[AverageJoesCredit]

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@tcbofade wrote:

Honestly, I don't think that you're in any danger.

...but I also don't think that you should poke the bear for a CLI that you don't need...

Good luck with whatever you  decide!

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This is good advice. Everytime i think of pushing the envelope with Sync, knowing the dangers, i ask myself do i really NEED a cli with what i have? Is it worth losing all my limits just so i can say i got a xli from Sync? Absolutely not. Its about the only self control i have in credit haha

[Guyatthebeach]

Bigseegar,

Personally, I would hold off on any more CLI's until your are ready to request a CLI for Verizon. As long as your spending and payment trends stay consistent, you will be fine.  

I do have a suggestion for you regarding Amazon.  If you get an American Express Amazon Prime card, you will never have to worry about your balance reporting to your CR. Just a thought.

Guyatthebeach

[hzynneb]

Synchrony hates two things...  inactivity, and sudden adverse changes in your credit report (max out, carrying large balance, etc). Synchrony does suck, but I never have a problem with them, I have over 50k in available credit with them. 

[Yasselife]

@hzynneb  you're positive experience with Sync is as valuable as others with negative stories, $50k in credit and they suck to you, is that based on what other members say? I'd be interested in knowing how your relationship with Sync is problem free, and if it's working for you.