Amazon Store Card CLI Advice

Anonymous · ‎02-27-2018

Hi, I'm 22 and a fairly recent college graduate that just started to build my credit. I opened a Discover IT secured card in July of last year. Anyway, I've always wanted an Amazon card and I finally got one! Although, the starting limit was a bit lower than I was hoping for - $400. I got the card in December and my third statement should post in a few days. Is it too early to request an increase? I realize my credit history is still quite new. I did apply for another Synchrony card last month; the PayPal Extras card and got a starting limit of $3,000. If I do try for an increase, how much do you think I could get away with? I wanted to ask for $1,000 but I'm not sure if my account is too new for that kind of increase. Thanks for any advice.

Also, I'm not sure how accurate the FICO score reports on the Experian website are, but according to them my scores are:

EXP - 697, EQ - 687, TU - 707

Anonymous · ‎02-28-2018

@Anonymouswrote:
Hi, I'm 22 and a fairly recent college graduate that just started to build my credit. I opened a Discover IT secured card in July of last year. Anyway, I've always wanted an Amazon card and I finally got one! Although, the starting limit was a bit lower than I was hoping for - $400. I got the card in December and my third statement should post in a few days. Is it too early to request an increase? I realize my credit history is still quite new. I did apply for another Synchrony card last month; the PayPal Extras card and got a starting limit of $3,000. If I do try for an increase, how much do you think I could get away with? I wanted to ask for $1,000 but I'm not sure if my account is too new for that kind of increase. Thanks for any advice.

Also, I'm not sure how accurate the FICO score reports on the Experian website are, but according to them my scores are:
EXP - 697, EQ - 687, TU - 707

Synchrony likes TU scores of 650 or above for CLI's, so you're in good shape on that front. You'd probably get turned down at this point because your account is so new (less than 3 months old, right?), so I'd suggest managing the card wisely - using it regularly and PIF'ing whenever you can (along with your other cards, of course) - and letting the account age at least another 3 months or so. So, about June, you can give CLI a try. The so-called "luv button" on Synchrony cards has mixed results when used; many people recommend calling Synchrony's Credit Solutions office instead when the time is right for a CLI attempt.

P.S. If you're subscribing to tri-bureau credit reports from Experian's website, you should be getting the FICO 8 scores which are the ones that lenders actually use. Vantage Score 3.0 is more "educational" than anything else, notwithstanding that my VS scores are (TU aside) more or less in line with my FICO scores right now.

Anonymous · ‎02-28-2018

Thanks for the advice! I was definitely thinking that 3 months wasn't long enough to ask for a CLI. When June does come around, what do you think would be a fair amount to ask for? I would love for my Amazon card to match my Paypal Extras card, but I don't know if that's too big a jump from $400. Also, is that chat feature as good as the credit solutions line? I'd rather embarass myself via chat if they don't want to give me a CLI.

AverageJoesCredit · ‎02-28-2018

Hi, Welcome to the forum

. Joes advice is sound. Ill add that when dealing with Synchrony, they tend to favor your TU report but can on occasion use others. Usually their cli are sp and its ok to aim a little high on your request as they are known to counter if you dont get requested. I think with your 707 TU , though thin, could essily net you 3k if thats the amount youd like. You could try now if desired, its usually just a not enough experience with credit limit letter but if you are in no rush, 6 months is fine. Normally if a person had a 690-710 you normally fall in the 5-8k bracket credit lines. Just take your time and Sync can treat you right if you do the same

Anonymous · ‎02-28-2018

@Anonymouswrote:
Thanks for the advice! I was definitely thinking that 3 months wasn't long enough to ask for a CLI. When June does come around, what do you think would be a fair amount to ask for? I would love for my Amazon card to match my Paypal Extras card, but I don't know if that's too big a jump from $400. Also, is that chat feature as good as the credit solutions line? I'd rather embarass myself via chat if they don't want to give me a CLI.

The general rule in asking for CLI's is, never think small. Ask for $10,000, for instance, and see if Synchrony comes back with a counteroffer - that's what I did back in November with my Amazon and Walmart cards. You can ask via chat, by all means, but most people in the know say Credit Solutions is the best option.