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Synchrony Bank: Maximum CL on PP MasterCard?


PotO
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The last post in this topic was posted 3035 days ago. 

 

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Does anybody know if Synchrony Bank policy on maximum credit limits for PayPal MasterCard has changed?

 

I could have sworn people were calling the underwriters and getting $25k.

 

I tried the telephone luv button and got nowhere so tried submitting a normal CLI request. I don't remember if it asked me for the desired CL, but if it did I would have asked for $25k.

 

Today I get a letter stating my request for CLI is declined because "the amount requested exceeds the amount of increase our bank policy allows."

 

WTF does that mean now?

Edited by PotO
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Thanks!

 

I'm at $15k and tried for $25k (I think -- I honestly don't even remember asking for a certain amount) and got a letter stating declined because "the amount requested exceeds the amount of increase our bank policy allows."

 

Wonder what that is all about. I have nothing else with them.

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Indications from the SYNCB IPO are that PayPal and SYNCB may be heading down different paths. PayPal - via BillMeLater - has been actively pushing the credit product backed by Comenity, and the recent contract extension only goes to 2016 and SYNCB doesn't expect it to continue beyond that:

 

In addition, we recently extended our program agreement with PayPal, another of our 24 current Retail Card partners, until October 2016. The extension eliminated certain exclusivity provisions that previously existed in the program agreement which we expect will result in lower platform revenue and loan receivables from our PayPal program during the extended term of the agreement and do not expect it to extend beyond that date. The PayPal program agreement represented 3.1% of our total platform revenue for the year ended December 31, 2013 and 2.6% of our total loan receivables at March 31, 2014.
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35K is the Max per card, I think their max limit for One person across all cards is 100-110K

Where did you get that info?

 

I have called 3x trying to get my WM Disco from 25k to 50k. Always an outright decline. I'm wondering if it's because I'm asking over their allowable limit but they didn't tell me.

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Indications from the SYNCB IPO are that PayPal and SYNCB may be heading down different paths. PayPal - via BillMeLater - has been actively pushing the credit product backed by Comenity, and the recent contract extension only goes to 2016 and SYNCB doesn't expect it to continue beyond that:

 

 

In addition, we recently extended our program agreement with PayPal, another of our 24 current Retail Card partners, until October 2016. The extension eliminated certain exclusivity provisions that previously existed in the program agreement which we expect will result in lower platform revenue and loan receivables from our PayPal program during the extended term of the agreement and do not expect it to extend beyond that date. The PayPal program agreement represented 3.1% of our total platform revenue for the year ended December 31, 2013 and 2.6% of our total loan receivables at March 31, 2014.

Only 3.1%? I don't know why, but I would have thought that out of 24 partners PayPal would be much larger.

 

Do you think SYNCB is throttling PP credit limits or at least increases?

 

When PP does pull the plug on SYNCB, what will happen to the PP MasterCard? Will SYNCB keep the credit card customers and give them a new product?

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35K is the Max per card, I think their max limit for One person across all cards is 100-110K

Where did you get that info?

 

I have called 3x trying to get my WM Disco from 25k to 50k. Always an outright decline. I'm wondering if it's because I'm asking over their allowable limit but they didn't tell me.

Cv. And others. Seems that no one has more then 35k. It's not a hard and fast rule. Just seems to be the cap. Edited by nysbadmk8
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35K is the Max per card, I think their max limit for One person across all cards is 100-110K

Where did you get that info?

 

I have called 3x trying to get my WM Disco from 25k to 50k. Always an outright decline. I'm wondering if it's because I'm asking over their allowable limit but they didn't tell me.

Cv. And others. Seems that no one has more then 35k. It's not a hard a fast rule. Just seems to be the cap.

 

We have the CB Credit R&D department ... led by BobWang

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Cv. And others. Seems that no one has more then 35k. It's not a hard and fast rule. Just seems to be the cap.

OK, next time I call, I ask for 35k. we'll see.

 

 

In another thread earlier this year (I believe it was about Amex POT) we had advanced a theory about $35,000 being a magic number for credit card issuers securitizing accounts for investors... sort of like $417,000 is the conforming mortgage loan limit for most states. Obviously, you can get a mainstream mortgage over that amount, but it's generally a different product (jumbo).

 

Credit card issuers will go above $35,000, as evidenced by the limits many of us carry on our cards, but it seems that $35,000 is the limit before one must go through some sort of an exception procedure for approval.

 

I'd love to see someone on this board get > $35,000 on a Synchrony card.

 

I would add that there are certainly issuers who do NOT securitize their credit card portfolios (including many of the amateurs we discuss here all the time), so that could explain why a lot of the "better" CU cards have $50,000+ limit potential through normal channels.

Edited by cv91915
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  • 1 year later...

This is the best one ever. I was reviewing my Synchrony letters and I found the following:

 

I currently have a Walmart MC for $25K. 2 days before I got a CLI increase from $10K to $25K, a letter was generated with the following as a denial for CLI.

 

 

 

"We are not able to assign the credit line you requested because it exceeds the amount of increase our policy allows."

"Your credit line as of the date of this letter is $10,000."

 

 

2 days later, I called again and got a CLI to $25K.

 

A week later I received the dated letter of the denied CLI.

 

How do you like that?

 

Jimmy.

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