You can get a credit line increase with Synchrony Bank as often as 6 to 12 months of on time payments.
If you don't keep up with payments on the Synchrony Bank credit card then you will be denied credit limit increases.
The easiest Synchrony credit card to get is the Amazon credit card and Amazon Prime Store Card.
The credit cards that belong to Synchrony Bank are co-branded credit cards and store credit cards such as the Sam's Club Credit Card, the Lowe's Store Card, and the Amazon Store Card.
Synchrony Bank is one of the largest issuers of store-affiliated credit cards.
Opening a Synchrony account takes around 2 days once you complete the application and it is then reviewed.
Synchrony Bank can be hard to get approved for especially for the credit card as most credit cards with Synchrony Bank require at least a credit score of 640 to 699 and others require a 700 to 749 credit score.
Getting a bank account with Synchrony is easier than getting a credit card through Synchrony.
When you apply to open a Synchrony Bank account they will ask for your name, address, date of birth, taxpayer identification number and other information which will allow you to be identified.
Synchrony bank will also ask for your driver's license number and or other identifying documents.
The minimum opening deposit for Synchrony is $0.00 for a Synchrony High Yield Savings account and for the checking account.
Synchrony has no minimum balance requirements and no monthly service fee.
Synchrony Bank is a good bank although they also make it harder to view old transactions and so you have to really dig in to see any special financing purchases.
Synchrony Bank has good customer service and they are FDIC insured just like other banks so your money is safe.
The pros of banking with Synchrony bank include a top-tier high-yield savings account with a competitive interest rate and easy opening requirements, and a variety of CD terms and types.
The cons of banking with Synchrony bank include no physical locations, no checking accounts, and limited services and products beyond banking.
The credit score that Synchrony uses is VantageScore which is a top credit scoring model that is used by other lenders as well.
Most credit cards offered by Synchrony Bank are designed for people with fair (640 – 699), good (700 – 749) or excellent (750 – 850) credit.
Getting approved for a Synchrony Bank account is generally easy—unless you've had a troubled banking history.
Getting approved for a Synchrony credit card may not be as hard as other cards.
A good credit score by age is ages 18 to 26 (679 credit score) ages 27 to 42 (687 credit score) ages 43 to 58 and above (707 to 800) credit score.
The average US credit score is a credit score of 717 which is a pretty good credit score.
The higher the credit score the better.
It used to be possible to have a 900 credit score but now you can only have an 850 credit score for the highest credit score.
The highest credit score is 850 which is an excellent credit score.
While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score.
The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.
The most your credit score can increase in one year is 100 to 200 points.
Raising your credit score takes at least a year to 2 years to see a significant increase in your credit score.
A good credit score is a credit score in the range of 670 to 739 although 600 can also be considered a pretty good credit score.
An excellent credit score is a credit score of 800 and above.
A credit score of between 670 to 739 is considered to be a good credit score.
Below 680 is considered an average credit score and 300 or less is considered a bad credit score.
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.