What is the Synchrony Premier Card credit score requirement?

You cannot check for Synchrony Bank pre-approval; it’s not possible to see which of its credit cards you have a good shot at getting before you submit an application. But like all major credit card issuers, Synchrony Bank mails pre-approved offers to certain people who appear to meet the criteria for one of its nearly 100 cards. … read full answer

Synchrony Bank’s credit card lineup features the PayPal Credit Card and the Ebay Credit Card. Synchrony also issues store credit cards for Amazon, Belk, JCPenney, Sam’s Club and Lowe’s, among many others.

Pre-approvals allow consumers to gauge the likelihood of getting approved for a credit account before they apply. Pre-approvals use soft inquiries of your credit, meaning it will not have an impact on your credit report.

A pre-approved offer does not guarantee you’ll be approved for a credit card. It does mean you have a good chance of approval, around 90%. Before you apply, you should have a good idea of how Synchrony Bank’s pre-approval process works.

Here is some additional information on checking for Synchrony Bank pre-approval:

• Synchrony is one of three major issuers that does not permit consumers to check its website for pre-approved credit card offers (Barclays and PNC are the others). Major issuers from American Express to Wells Fargo allow anyone to check for pre-approval. USAA and U.S. Bank only extend this benefit to members and current customers.
• Synchrony “pre-screens” customers by using data compiled from three credit bureaus: TransUnion, Equifax and Experian. Synchrony mails prepaid offers to consumers who have at least a fair credit score (640-699).
• To receive a credit card through a pre-approved offer, you still need to apply. You can mail the application back or you can apply online or by phone. In the case of a store card, you can apply in person at the store.

If you receive a pre-approved credit card offer, make sure it is for a card you think would be worthwhile. Be selective and don’t apply in response to every pre-approval you receive. Getting pre-approved for lots of credit cards won’t hurt your credit, but applying for many of them in a short period of time can.

The fastest ways to improve your credit score are to pay down your balances, dispute incorrect information on your credit report, make more frequent payments, and reduce credit utilization. Credit utilization (how much of your credit limits you use each month) contributes to a portion of your credit score that accounts for 20% - 30% of your overall score. So, an adjustment there can result in a big credit boost pretty quickly. Similarly, you can dispute incorrect information with a quick online request or phone call. You won’t always get an immediate credit score increase, but correcting errors on your credit report is a great place to start.… read full answer

There are a few other ways to increase your credit score quickly, from becoming an authorized user to increasing your credit limit. They may not all be equally effective for everyone, as it can take years to build a consistently good or excellent credit score. In fact, some strategies could send your credit score in the wrong direction before leading to an increase. For example, requesting a credit limit increase can result in a hard inquiry that damages your credit a bit in the short-term, but having more credit available could produce long-term gains if used responsibly.

Here’s how to improve your credit score fast:

1. Pay down your balances. If you aren’t eligible for a credit limit increase, focus on paying down existing debt. Paying down a large chunk of debt at once will help your credit utilization ratio and bump up your score. If you can’t make a large payment all at once, try to pay more than just the minimum monthly amount. If you have multiple debts, start by making payments on the debt that has the highest interest rate so you can limit interest charges.
2. Dispute incorrect information on your credit report. You should file a dispute for any incorrect negative info on your report. Once the dispute goes through, incorrect items will drop off your file, and your score should improve. You may have to wait 30 days for the credit bureau to review your dispute before you see any changes.
3. Make more frequent payments. Credit utilization is calculated based on the statement balance on each of your credit cards. You can reduce these balances, thus decreasing your credit utilization and increasing your credit score, by making payments before the end of each billing period. Then, pay off the remaining balance by the due date to avoid interest charges and credit-score damage.
4. Become an authorized user. If you’re just starting out, or your credit report has a string of negative marks, a good move would be to become an authorized user on someone else’s credit card and build your credit over time. Just make sure the primary holder is responsible and pays their bills on time.
5. Add new payments to your credit file. There are new services that can add positive information, like on-time utility payments, rent payments, and positive bank balances to your credit report. Not all of these programs apply to all credit bureaus, and some cost money to utilize, but they could boost your credit score over a few months.
6. Increase your credit limit. A higher credit limit can reduce your credit utilization ratio, assuming your spending does not increase. The only potential problem is that asking for a credit limit increase usually results in a hard credit inquiry, which would temporarily hurt your credit score a bit. But if you get a credit limit increase without asking, or you have a few months before you need the highest credit score possible, a higher limit could definitely help.

Everyone’s credit situation is different, so not every option will be relevant or available to you. The best way to find out exactly what you can do to quickly improve your score is to check out the personalized advice in the Credit Analysis section of your WalletHub dashboard.

A numeric representation of your credit history and creditworthiness. Some people may refer to it as the FICO Score, which is the most popular type of score.

Nevertheless it is important to know that there are thousands of credit scores and a lot of lenders also build and use their own proprietary scores.… read full answer

The higher your score, the better your credit. Paying your debts on time can help your credit score skyrocket. It's much easier to get loans when your credit score is high.