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When can I apply for a new Sync card after blue envelope

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Valued Contributor

Re: When can I apply for a new Sync card after blue envelope

In the end, I could care less about them. I don't need them, or any of their cards..... Bipolar lenders are not worth having in my wallet
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 11 of 19
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Community Leader
Mega Contributor

Re: When can I apply for a new Sync card after blue envelope

Fltireguy, may i interest you in a Barclays? Im sure you will love themSmiley Wink
Message 12 of 19
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Valued Contributor

Re: When can I apply for a new Sync card after blue envelope


@AverageJoesCredit wrote:
Fltireguy, may i interest you in a Barclays? Im sure you will love themSmiley Wink

AJC- LMAO! I'll gladly split my CL with them again too.. maybe I can get another CLD, this time down to $250 from my current $500 (was originally $1k)

Smiley Wink

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 13 of 19
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Frequent Contributor

Re: When can I apply for a new Sync card after blue envelope

Ok can someone please inform me what a blue envelope is?

Message 14 of 19
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Community Leader
Mega Contributor

Re: When can I apply for a new Sync card after blue envelope

A blue enevelope is basically a white envelope colored blueSmiley Wink and i mean blue cuz if you get one it either means you comply with sending in your tax info to a third party, lexus nexus, or you either close your accounts proactively or Synchrony will do so for you making you feel....Blue Smiley Sad.
Message 15 of 19
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Moderator

Re: When can I apply for a new Sync card after blue envelope


@AverageJoesCredit wrote:
A blue enevelope is basically a white envelope colored blueSmiley Wink and i mean blue cuz if you get one it either means you comply with sending in your tax info to a third party, lexus nexus, or you either close your accounts proactively or Synchrony will do so for you making you feel....Blue Smiley Sad.

+1... Well put.  Smiley Very Happy

 

More directly, the last six months or so Synchrony has been known to suspend people's accounts pending income verification via a tax transcript (usually all Synchrony accounts are impacted simultaneously, but not always).  It's said that these notifications always come in a 'blue envelope' thus the terminology used around this site.

 

It's especially discouraging to get a blue envelope because they don't merely want a copy of your paystub; they want you to sign a form agreeing to allow LexisNexis to request a copy of your tax returns directly from the IRS on their behalf.  The release gives them permission to get a line-by-line print-out of everything you sent to the IRS, including medical deductions, children's/dependent's social security numbers, etc.  It's much more information than just your income.

 

There have been several 'epic' threads where people have debated back-and-forth the virtue of providing this information, with some having no problem at all and others being dead-set against it, with each group firmly entrenched and convinced their opinion is the 'right' one.  In any case, if a cardholder doesn't agree to this their Synchrony accounts will be summarily closed.

 

(Note that I'm not taking sides on this issue here; if anybody wants to pick the debate back up let's do it somewhere else.  Thanks)

Message 16 of 19
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Established Contributor

Re: When can I apply for a new Sync card after blue envelope


@AverageJoesCredit wrote:
Fltireguy, may i interest you in a Barclays? Im sure you will love themSmiley Wink

AJC this literally made me LOL during a conference call Smiley Very Happy Thank you for the pick me up!

 

OP- i would personally suggest against opening any more cards if you got the BLUE ENVELOPE OF DEATH, but that's just my humble opinion. 

Message 17 of 19
Valued Member

Re: When can I apply for a new Sync card after blue envelope

Thank you guys for your input, it is appreciated! I guess I will just stay away from sync, for awhile anyway. It's getting harder as I see so many popular stores are using them for their credit card services. I'll open a QS or Venture card and make that my catch all store card Smiley Happy

Message 18 of 19
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Community Leader
Mega Contributor

Re: When can I apply for a new Sync card after blue envelope

Hey Creditjunky, i dont think one has to necessarily avoid Synchrony backed cards because of fear of the blue, heck i got 7 myself lol, its just prudent to use your judgement and see what works for ya. It is crazy they back alot good stores but sometimes one has to pick your battles.

Its well know here i really enjoy having my Sync backed Pennies card because it brings me lots of good specials that work for me. Amazon we know is a great store card to have. Its just a good saying ive learned here not to keep all your eggs in one basket , sorry Mr Easter BunnySmiley Wink,. Hopefully 2 more years of proper gardening i may just come out to get a Chase or something thats not Sync or City lol, diversity rules the day, Patience paves the Way!!!Smiley Happy
Message 19 of 19
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