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@Anonymouswrote:
Quick update!
Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.
Its been said in dozens of posts around here... Synchrony is a strange unpredicable beast!
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814
@Dalmuswrote:
@Anonymouswrote:
Quick update!
Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.Its been said in dozens of posts around here... Synchrony is a strange unpredicable beast!
It's almost as if Synchrony had different protocols for different cards...
i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time. i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.
@donneumeyerwrote:i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time. i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.
Until this mentality changes then we will continue to read post of such. There is no such thing as "money left on a table". I learned this the hard way. It's credit, nothing more, nothing less. Increased lines allows us to spend at a higher level (which is great if needed) or allows up to pad utilization to hide the amount of debt we're carrying. I know many will say that they PIF which is great but for those 20 something odd days that we float that credit, we're in debt. Regardless of the ability to pay it back on a moments notice, until that money is repaid, it's debt.
I don't want come off as a hypocrite because I to use to hit that button more than I needed to for absolutely no good reason. Mostly because I too thought that I was "leaving money on the table". But you know what I ended up with...extremely high limits on very basic/useless store/fuel cards. After all, I needed that $10K line on BP gas card...doesn't matter than I rarely charge over 100 bucks. But I learned a lot from sticking around here and reading lots of informative post. Stick around here long enough and you'll learn a ton. You'll eventually get over the mentality of "leaving money on the table".
@Loquatwrote:
@donneumeyerwrote:i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time. i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.
Until this mentality changes then we will continue to read post of such. There is no such thing as "money left on a table". I learned this the hard way. It's credit, nothing more, nothing less. Increased lines allows us to spend at a higher level (which is great if needed) or allows up to pad utilization to hide the amount of debt we're carrying. I know many will say that they PIF which is great but for those 20 something odd days that we float that credit, we're in debt. Regardless of the ability to pay it back on a moments notice, until that money is repaid, it's debt.
I don't want come off as a hypocrite because I to use to hit that button more than I needed to for absolutely no good reason. Mostly because I too thought that I was "leaving money on the table". But you know what I ended up with...extremely high limits on very basic/useless store/fuel cards. After all, I needed that $10K line on BP gas card...doesn't matter than I rarely charge over 100 bucks. But I learned a lot from sticking around here and reading lots of informative post. Stick around here long enough and you'll learn a ton. You'll eventually get over the mentality of "leaving money on the table".
+1 Well said.
On bust-out fraud: it's hard (well for me) to avoid the impression that since this paper has been linked here, people are citing it more and more as a plausible reason for particular causes of AA. Remember the paper is the equivalent of "We invite you to apply for this credit card": they are SELLING an algorithm that might predict the "growing" problem of bust-out fraud. Operators are standing by.
We don't know that Sync, or any other particular issuer, decided to purchase this score.
IMO, all the old things are still happening, and as others have indicated, policies change, although I would view it more as parameter setting. Credit cards are sensitive the economy, and as the stock market has jitters and interest rates rise, perceived risk increases so that scores/reports/behaviors that were previously OK may now attract CLD or closure.