Was wondering, would a lot of exposure already with Synchrony stop me from getting a Venmo CC?
I currently have 3 "Synchrony" cards:
- PC RICHARDS ($20K)
- LOWE'S ($25K) [ZERO Balance]
- VERIZON ($20K) [ZERO Balance]
I just got the $200 SUB offer for Venmo and I was thinking of getting this card for the SUB and to use for Costco, BJs, Walmart, etc, but I was thinking with $65K of credit with them already (all in good standing) would they extend me even more credit with a Venmo card?
I wouldn't have even giving it a 2nd thought, but the last 2 times I tried for a CLI on Verizon (and at the time HEAVY usage and PIF each month) they declined me with the response "...The requested amount exceeds the limits set by our credit policy.." which makes me think I have reached their limit.
Your thoughts? 
@Wavester64 wrote:Was wondering, would a lot of exposure already with Synchrony stop me from getting aVenmoo CC?
I currently have 3 "Synchrony" cards:
- PCRICHARDSS (20KK)
- LOWE'S (25KK) [ZERO Balance]
- VERIZONN (20KK) [ZERO Balance]
I just got the $200 SUB offer forVenmoo and I was thinking of getting this card for the SUB and to use for Costco,BJss,Walmartt, etc, but I was thinking with 65KK of credit with them already (all in good standing) would they extend me even more credit with aVenmoo card?
I wouldn't have even giving it a2ndd thought, but the last 2 times I tried for aCLII on Verizon (and at the time HEAVY usage andPIFF each month) they declined me with the response "...The requested amount exceeds the limits set by our credit policy.." which makes me think I have reached their limit.
Your thoughts?
you're inching closer to the range where you'll randomly and unceremoniously get all of your synchrony accounts closed for having too much unused credit from them
the question you should ask is 'will synchrony shut my accounts down after I get approved' and not 'will they approve me'
if you're putting somewhat regular use on your limits, I would be less afraid of a shutdown, but if they're sitting at $0, unless you plan to actually use the venmo card for the 3% category and not just the $200 SUB, I would probably look elsewhere
just depends how sad you'll be if synch shuts you down and closes your cards and if you want to keep poking the synchrony bear
@Wavester64 wrote:Was wondering, would a lot of exposure already with Synchrony stop me from getting a Venmo CC?
I currently have 3 "Synchrony" cards:
- PC RICHARDS ($20K)
- LOWE'S ($25K) [ZERO Balance]
- VERIZON ($20K) [ZERO Balance]
I just got the $200 SUB offer for Venmo and I was thinking of getting this card for the SUB and to use for Costco, BJs, Walmart, etc, but I was thinking with $65K of credit with them already (all in good standing) would they extend me even more credit with a Venmo card?
I wouldn't have even giving it a 2nd thought, but the last 2 times I tried for a CLI on Verizon (and at the time HEAVY usage and PIF each month) they declined me with the response "...The requested amount exceeds the limits set by our credit policy.." which makes me think I have reached their limit.
Your thoughts?
I agree with what's been said so far. I think you would likely be approved. But they are notorious for taking customers whose accounts have been managed impeccably, and closing all their accounts if there are large lightly used credit limits.
My theory as to why they would do such a self destructive thing is that it's an easy and quick way of window dressing their quarterly financial statements. How? : It's a fast (not to mention stupid) way of reducing loan loss reserves, which are a charge against earnings.
@UncleB wrote:Good advice so far; I was at $60k a couple of years ago when I added the Venmo Visa which brought me to $73k.
Nothing bad has happened (so far) but I knew when I applied that it was possible I'd lose my other Synch cards, and I still chose to throw the dice.
Synchrony can be unpredictable, especially for those of us with multiple cards and/or higher credit lines. I'd love to have the Paypal MC (I should have added that instead of the Venmo card) but I continue to sit on my hands, since at this point I value my current cards more than maybe having the Paypal MC. I might change my mind at some point (I went back-and-forth on the Venmo card for a while) but that's where I am now.
TL;DR - It really depends on how much you value your current Synchrony cards. My two oldest credit lines are Synchrony cards, so I tend to value mine quite a bit for that reason.
Thank you @UncleB and *everyone else* for your input
I decided to take the plunge for the sub and to use it for Costco's, BJs and Walmart.
*Approved* $13K SL.
Lets see how it goes. So far everthing with Synchrony has gone smooth over the years.
The one card if they take away I wouldn't be crying the blues would be the Lowes Card.
The others I use often, but PIF, unless its PC Richards and I am paying off some electronics they offered free financing on
@Wavester64 wrote:
@UncleB wrote:Good advice so far; I was at $60k a couple of years ago when I added the Venmo Visa which brought me to $73k.
Nothing bad has happened (so far) but I knew when I applied that it was possible I'd lose my other Synch cards, and I still chose to throw the dice.
Synchrony can be unpredictable, especially for those of us with multiple cards and/or higher credit lines. I'd love to have the Paypal MC (I should have added that instead of the Venmo card) but I continue to sit on my hands, since at this point I value my current cards more than maybe having the Paypal MC. I might change my mind at some point (I went back-and-forth on the Venmo card for a while) but that's where I am now.
TL;DR - It really depends on how much you value your current Synchrony cards. My two oldest credit lines are Synchrony cards, so I tend to value mine quite a bit for that reason.
Thank you @UncleB and *everyone else* for your input
I decided to take the plunge for the sub and to use it for Costco's, BJs and Walmart.
*Approved* $13K SL.
Lets see how it goes. So far everthing with Synchrony has gone smooth over the years.
The one card if they take away I wouldn't be crying the blues would be the Lowes Card.
The others I use often, but PIF, unless its PC Richards and I am paying off some electronics they offered free financing on
Whoo-hoo, @Wavester64! We're Venmo twins! 
That's a strong approval. As long as your existing Synch cards aren't all brand-new (I get the impression this isn't the case) you should be fine. While Synch shutdowns get a lot of attention around here (and rightfully so) the folks who don't have any issues tend to go under the radar.
Enjoy that SUB! (I'm jealous; there was no SUB when I applied, LOL.)
@UncleB wrote:
@Wavester64 wrote:
@UncleB wrote:Good advice so far; I was at $60k a couple of years ago when I added the Venmo Visa which brought me to $73k.
Nothing bad has happened (so far) but I knew when I applied that it was possible I'd lose my other Synch cards, and I still chose to throw the dice.
Synchrony can be unpredictable, especially for those of us with multiple cards and/or higher credit lines. I'd love to have the Paypal MC (I should have added that instead of the Venmo card) but I continue to sit on my hands, since at this point I value my current cards more than maybe having the Paypal MC. I might change my mind at some point (I went back-and-forth on the Venmo card for a while) but that's where I am now.
TL;DR - It really depends on how much you value your current Synchrony cards. My two oldest credit lines are Synchrony cards, so I tend to value mine quite a bit for that reason.
Thank you @UncleB and *everyone else* for your input
I decided to take the plunge for the sub and to use it for Costco's, BJs and Walmart.
*Approved* $13K SL.
Lets see how it goes. So far everthing with Synchrony has gone smooth over the years.
The one card if they take away I wouldn't be crying the blues would be the Lowes Card.
The others I use often, but PIF, unless its PC Richards and I am paying off some electronics they offered free financing on
Whoo-hoo, @Wavester64! We're Venmo twins!
That's a strong approval. As long as your existing Synch cards aren't all brand-new (I get the impression this isn't the case) you should be fine. While Synch shutdowns get a lot of attention around here (and rightfully so) the folks who don't have any issues tend to go under the radar.
Enjoy that SUB!
Thanks @UncleB 