Hello Everyone!
I have been perusing these forums for several years and it is time to ask my first question
.
I have several cards with Synchrony. Two of them (store cards called Home Design) were used to finance some home improvement projects when I purchased a house less than 2 years ago. I have no further use for them and they are fully paid off. The total tradeline between them is $17k.
I also have Synchrony TJX MC at $10k which I use occasionally and always PIF.
Another Synchrony account is Amazon that I use quite frequently. It is currently at $20k (always PIF) and I can't get a CLI for the past 8 months due to the following reason as per Synchrony letter I received: "We are not able to assign the credit line you requested because it exceeds the amount of increase our policy allows".
My question is, will closing the above mentioned Home Design store accounts help getting CLI on Amazon account? Or it will have no affect on it whatsoever?
My credit history is somewhat new. I have started with 2 secured cards 3 years ago and my current AAoA is 1.6 y, UTI is under 2%. No baddies of any kind on any of the CRs.
Would appreciate your valuable advise in this situation.
I have been perusing these forums for several years and it is time to ask my first question
.I have several cards with Synchrony. Two of them (store cards called Home Design) were used to finance some home improvement projects when I purchased a house less than 2 years ago. I have no further use for them and they are fully paid off. The total tradeline between them is $17k.
I also have Synchrony TJX MC at $10k which I use occasionally and always PIF.
Another Synchrony account is Amazon that I use quite frequently. It is currently at $20k (always PIF) and I can't get a CLI for the past 8 months due to the following reason as per Synchrony letter I received: "We are not able to assign the credit line you requested because it exceeds the amount of increase our policy allows".
My question is, will closing the above mentioned Home Design store accounts help getting CLI on Amazon account? Or it will have no affect on it whatsoever?
My credit history is somewhat new. I have started with 2 secured cards 3 years ago and my current AAoA is 1.6 y, UTI is under 2%. No baddies of any kind on any of the CRs.
Would appreciate your valuable advise in this situation.
How are you requesting CLIs? Many of us with $10k+ credit lines on Synchrony cards get those letters if requesting online. You can try chat, but usually the best luck with CLIs comes with calling the overseas Credit Solutions number.
FWIW, I regularly stretch out $1-3k purchases on my card for 12 months or longer on a 0% promo. Would be nice to always be able to keep it under 30%.
@Anonymous wrote:
Thank you all for you answers.
This is Amazon Primè store card and I may sometimes use 2-3 months to pay off a large (8-10k) purchase under special financing terms. Don't want my uti to go up as it seems to greatly affect my score.
Perhaps because my credit history is only few years of age after more than 10 years absence working overseas.
I have tried both calling and online.
I will try closing 2 other Synchrony accounts before trying another cli. The only downside is 17k our of my total CL if I don't get any Amazon increase after all. But my utilization is low so I think I should be ok.
I know you mention you've called, but if you're calling the number on the back of the card (or the statement) that's not the same as Credit Solutions... many have been turned down when calling the 'normal' number only be given a CLI when they call CS. If it were me, I would at least give this a try before I closed any accounts, unless you were going to close them anyway.
Here's the number to the overseas center; many including myself have had luck with it: 877-379-8173.
Disclaimers: Unless I overlooked it, you don't mention your TU score - that will be a primary determining factor. If you decide to call Credit Solutions, note that they'll place you on hold for a couple of minutes while they pull a fresh TU, this is nearly always a SP (occasionally somebody reports a HP, but I've not seen one of those in a while). Expect the call to be quick and with little small-talk; they don't ask why you need the CLI, and they don't care.
Also, it would be irresponsible of me to not at least mention the past 'blue envelope' situation with Synchrony. Many of us - again, including myself - have used CS for CLIs with no problems at all, but some speculate that requesting high credit lines can "put you on the radar".
Good luck whatever you decide!