Synchrony TU Internal Score???

[Anonymous]

Hi,

On 12/10 I was approved for a Paypal Extras MC. I was pretty pumped because it was my highest starting limit at $3500.

Today 12/19 I received a letter from them stating that I didn't get their best terms and were reqired to send a letter.

My score they provided to me was 522  Scoring range from 300-620 based off of TU.

Does anyone have any experience or insight into how that score meaures up? Are credit line increases going to be more difficult?

I have a super young file, to the point that all of my primary accounts are less than 6 months old but AU accounts in the almost 7 yr range.

Anyways, I was just wondering if anyone else has received letters from them like that and how my score stacked up.

Thanks

[M_Smart007]

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@Anonymous wrote:

Hi,

On 12/10 I was approved for a Paypal Extras MC. I was pretty pumped because it was my highest starting limit at $3500.

Today 12/19 I received a letter from them stating that I didn't get their best terms and were reqired to send a letter.

My score they provided to me was 522  Scoring range from 300-620 based off of TU.

Does anyone have any experience or insight into how that score meaures up? Are credit line increases going to be more difficult?

I have a super young file, to the point that all of my primary accounts are less than 6 months old but AU accounts in the almost 7 yr range.

Anyways, I was just wondering if anyone else has received letters from them like that and how my score stacked up.

Thanks

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I may stand corrected, I think they are using Vantage 4.0 Scoring   .. I am guessing that is why I am not getting SP CLI's

[Anonymous]

300-620 is not VS. That seems to be an internal score. 

[FICOnoob2020]

Hi OP.

Hope I am not too late to the party or posting this in the wrong place.  Belated congrats on your approval!

I received a similar letter from Synchrony upon opening a PayPal 2% MC last fall.  While my application was approved, I was not offered the best APR available and they sent me a letter to "explain" why.  The low score, relative to my other scores, made my heart drop into my stomach.

My score of 492 was based on the same 300-620 scale.  My FICO and FAKO scores were in the mid-to-high 600s.  TU is almost always my most favorable bureau score among the big three.

The key factors that adversely affected my score were listed as:

Sum of credit limits across all bank open end accounts is too low.  (At the time, my aggregate limits were <10k.)

Number of months since oldest bank revolving account opened is too low.  (It was between 3 and 4 years old.)

Number of months since 30+ day delinquency on a credit account is too low.  (An installment loan had been 30+ DL nine months prior.)

Too few open installment loans with a loan amount of $10,000 or more.  (My 4 open student loan amounts are 7.5k, 7.5k, 5.5k, and 5.5k.)

[ChargedUp]

I used to have the Ebates Visa with a stagnant SL of $1500...  Whatever internal scoring that Synch uses seems to be vastly different from what most other lenders use. Their own web interface showed a TU-08 of 740 and no matter what I did or how much spend I put through it, I couldn't get that card to grow.  (CK had my Vantage in the 720's IIRC, so I don't believe it's tied to Vantage in any way.) The decline letters also mentioned my TU-08 score being at 740

SP love from Chase, BoA, Amex, Disco, Elan... but Synch was hung up on something that I could never figure out. I cut bait after 18 months and put my spend elsewhere.

[Anonymous]

No way of knowing a possible internal score. Using percentages and a guess, could that translate to a 716 score, like a TU score? Does that look like your TU score? Either way,  there is no way to determine if 522 is any good. Use your own scores to guess how good it might be.

A CLI might be a little bit away if you had the card only 1 month. Pay on time, PIF if possible, and use the card and a CLI could show up in the near future.