What the heck is going on with Synchrony?

[Anonymous]

---

@Anonymous wrote:

---

@IgnatiusReilly wrote:

I don't have a Synch card but here is what has always befuddled me about Synch, and this is directed at the company, not the cardholders:

"I apped and got approved for a (fill in the blank) card with a SL of $1,000.  I called and asked for a CLIand now my limit is the GDP of Belize!!!!"

What?  What explains the difference between underwriting giving out a SL of $1k and then upping it to $15k a day later?  I never got that.  

Lastly, a $10k Lowe's card (for the well qualified) I can understand as home improvement can be expensive.  A 10k Men's Warehouse card, not so much.  

This just looks like Newton's Third Law in action here, and I feel for all of you who are being affected.  Hope all works out.  

---

I love it when someone quotes Newton's Third Law!

Newton's third law is: For every action, there is an equal and opposite reaction.

---

This can apply to a lot of the things that are said and done on this forum, other forums, and everyday life. Good analogy.

[Anonymous]

Just curious if synchrony is tightening the reigns on approvals and CLI's? Has anyone had the nerve to try? Personally in the last week I've increased my Amazon from $600 to $3500, Walmart from $500 to $3500, one week old Lowes from $800 to $5000 and Brand new approval for Marvel with a SL of 1500 at 15.24% and called credit solutions and got it bumped to $6000. My scores from Credit Karma are in the low, very low 600's.

[Anonymous]

I was due for a CLI (4 months since last CLI) for both Lowes and Walmart.  Both were denied.  I noticed the decline message on Walmart was worded differently.

I am waiting for the letters to arrive, and will post if there is different wording there.  (I noticed that something was off with the Walmart wording as I was closing the window)

[Anonymous]

My Amazon and Walmart accounts are both only 2 months old. Lowes about a week old and the Marvel card is a few days. Just seems weird that I was able to get the CLI's with everything that's going on. One would think if they are tightening things up that brand new accounts would have strict monitoring.

[Anonymous]

I saw all the posts and decided to check my accounts. Nothing going on so I said wth, lets do some CLI requests lol. 9k more on 4 accounts. They might be looking at reports and flagging ones they see trouble a brewing with.

[Vegas4Play]

---

@Anonymous wrote:
Just curious if synchrony is tightening the reigns on approvals and CLI's? Has anyone had the nerve to try? Personally in the last week I've increased my Amazon from $600 to $3500, Walmart from $500 to $3500, one week old Lowes from $800 to $5000 and Brand new approval for Marvel with a SL of 1500 at 15.24% and called credit solutions and got it bumped to $6000. My scores from Credit Karma are in the low, very low 600's.

---

Knowing of all the AA with Sync right now why risk all that exposure.....just curious.

And people still ask why, why, why *smh*

[Anonymous]

Honestly from reading all of the extreme exposure others have with sync, my $18000 of exposure seems minimal. Lol. My total balance across these 4 accounts is only $450. I'm not concerned with the "hysteria". If it happens to my accounts it happens. Will address it at that time. I have nothing to hide with the information I've submitted to Sync.

[Anonymous]

I spent $14 on my Lowes card two days ago.  I have an $8,500 CL.  I am skeered about AA.  Jus' Joshin'.  Never let them control you!

[Anonymous]

Well, I did get approved for 3 almost 2 months ago.  And asked for a cli right away on most. Have my new Ethan Allen card here and not activated it yet.  Just getting the nerve to ask for a good cli so I can actually use it!  2.5k doesn't cut it.  

[Anonymous]

I wasn't aware of the Synchrony issue. I logged in tonight and paid my Amazon account. It was extremely slow but it finally posted.  I checked our other accounts and all is well.  I opened a new account with them in May because they offered 48 mo same as cash financing for my purchase.  Total exposure is $23k (3 accounts); balance is $7100 on the new account. Reported income is 6 figures.  I haven't asked for any high cli's. We pif unless it is an account with the intro promo 0% apr.

I am honestly not surprised to see this happening and won't be surprised if other lenders follow suit.  It is extremely easy to get caught up in the game of how high will lenders go and how fast can it happen.  At the end of the game, he who giveth taketh away.