TXviking wrote:I cancelled my last two Synchrony accounts (one with City Furniture, one with La-z-boy) once all my new furniture was paid off. I only got the accounts for the umpteen-months-same-as-cash financing deal, and saw no need for them anymore. The credit lines in both cases were suspiciously close to the cost of the furniture I wanted to buy, so I have a feeling that credit line is based at least in part on how much furniture the store thinks they can sell you (although I'm sure it's also capped based on creditworthiness.)
No doubt Synchrony has product lines besides their store cards, but the first thing that came to mind when I read this was:
"What size houses do these MF members have that they need $100K worth of furniture?"
TXviking wrote:What size houses do these MF members have that they need $100K worth of furniture?
MemberSince99 wrote:I would guess the proactive folks lied about their income and are just hoping to stay out of the crosshairs.
I only have two of their cards with 7k total exposure so I don't really care what they do. I didn't lie about income but I'm not willing to submit a tax form of requested because I feel it's far too invasive. I would verify income a different and less intrusive way.if that was an option but since it's not I would just close and move on.
I doubt they will bother me though. Sucks to be them I guess. It is kind of self inflicted damage.
JonE wrote:I don't get how some people need $25k-$35k on a Walmart card. Most I would need on any store card would be about $5000. No way am I going to blow that kind of money at Walmart (or Amazon for that matter!)
MF is microcosm of people who abuse credit, they lie about incomes, apply for everything under the sun, and then wonder why AA always hits them first. I also don't think MF (or for that matter, this place) is reflective of society as a whole, as there are majorities of people who are happy with 1-3 cards, and have no knowledge of Churning, Rewards or bonus spending. I'm starting to become one of those people.