You know you should be checking your credit report, but did you know you can actually use an American Eagle Certificate to get approved for a Synchrony Bank credit card in the USA? American Eagles are the only cash reward cards affiliated with banks. They were selected as the top reward for people who check their credit reports on a regular basis. If you have a high credit score and want to make the most of it, this is a great way to build your credit rating.
When you apply for a Synchrony Bank credit card in the USA, you will have the opportunity to choose between an American Eagle Credit Card and a standard MasterCard or Visa credit card. A lot of people prefer the American Eagle card because of the perks it offers. First, you get a free $10 dollar spending allowance when you make the maximum purchase from your credit card. Secondly, you don't have to worry about paying any annual fees. And finally, you get a pre-set period of time to pay off your balance every month.
While the American Eagle Credit Card has all these great advantages, there are some disadvantages as well. For one, not everyone will be able to qualify for this special offer. This is because it's a hard pull on your credit report. When you apply for anything that requires a hard pull on your credit report, you increase the risk that your application will be rejected. The synchronicity bank is well aware of this and they have taken steps to make sure your application will be approved.
When your application service pulls your credit report to see if you qualify for an American Eagle Credit Card, it will look for the following information: Your full legal name, street address, social security number, employer and salary, date of birth, place of birth, mother and father's names, address history, current employment, whether you've lived at this address for more than six months or less, the types of accounts you have and the amounts you owe. If your application is rejected for any reason, then Synchrony Bank will automatically re-do the entire process again. They will issue you a new credit card with the updated information. This can cause a couple of problems though. For one, your credit report will show that you were accepted for a different credit card.
Another limitation of Synchrony Bank American Eagle Cash Advance is that they only allow you to obtain a maximum of three cash advances per calendar year. They call this a “temporary deduction”. Simply put, if you run into a financial hardship and need to take out a loan, a hard pull on your credit report can prevent you from getting approved for a second Synchrony Bank credit card until you can prove that you can make timely payments on the other two. This may result in a temporary deduction on your credit report that will stay until the hard inquiry is lifted. To make matters worse, once the temporary deduction is taken, you will not be allowed to apply again for a credit card at this address until you've paid off the original hard pull.
In addition to running afoul of Synchrony Bank American Eagle Cash Advance by taking out a hard pull on their credit report, you may find that your credit rating is lower than what it should be. The reason why is because all of those hard inquiries made on your credit report by Synchrony Bank were listed as a hard inquiry versus a routine inquiry. A hard inquiry is when a Synchrony Bank employee does an investigation of your credit rating to discover how much money you're worth and to determine what your credit worthiness is. Routine inquiries are simply when an agent from a bank, such as Synchrony Bank, contacts a credit reporting agency to obtain information regarding your credit rating.
If your credit report shows a hard pull entry for Synchrony Bank, one of the reasons why could be that you applied for credit cards from the following three credit cards: Charge Deposits, Advanta and American Express. Each of these credit cards would have caused a hard pull entry onto your credit report. Some people try to apply for credit cards with no credit history, especially from issuers they don't know. Synchrony Bank was one of the issuers who did not allow people with no credit rating to apply for one of their cards.
The other reason why people can run afoul of Synchrony Bank American Eagle Cash Advance because they unknowingly agreed to a hard pull entry on their credit report from the three credit cards. When this happened, the three companies had agreed in writing that if you were going to be approved for one of their credit cards, you would have to agree to a hard pull entry on your credit report for at least five years. You should realize that this five year hard pull entry is not recorded on your credit score. That is why many people with poor credit score run afoul of the Synchrony Bank American Eagle Cash Advance and they never get approved.