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  • FIRST POST
    never-in-doubt
    Sygma Bank Credit Cards
    • #1
    • 27th Jun 10, 10:38 AM
    Sygma Bank Credit Cards 27th Jun 10 at 10:38 AM
    Sygma Bank Credit Cards.....

    Sygma Bank, or Creation Finance, is somewhat of a dark horse when it comes to issuing credit cards. They are not a sub prime lender but their scoring techniques are unique in that they do offer cards to some sub-primers, and it seems once you're in - you're in!

    So, what's the story with them? Well they are a large French outfit who specialise in financial services, namely branded credit cards to retail outlets. The unique thing though is the process in which you can do things - for instance you can apply for and have more than one account with them; the criteria for this is to ensure that you wait at least a full month after applying for your previously accepted account, although 3 months is usually the best way to go about this.

    Also, so long as you keep your account in good standing you are eligible for a credit limit increase (request) every 3 months, albeit a soft search (footprint) will be performed at Equifax. This is always 30% of your credit limit (a 1000 limit would get a 300 increase).

    The way limits are issued is a mystery, it does appear that for most people you will be awarded a 1000 limit when you apply for the first time, however if you apply for the Flybe or Silver card higher limits are more forthcoming - however their scoring technique will be the main influence on whatever limit you are given, not necessarily the type of card you apply for.

    If you've been rejected by Sygma for an account, you must wait a full 6 months before reapplying or the system will default to a decline as you would immediately fail their initial assessment of criteria. If you are accepted for an account, then each three month period try and get a new account. You can apply monthly if you want to, but there is a high chance you'll be declined if you do this too often - account history will generate a higher limit and more chance of success.

    This thread should be read in conjunction with the The Sub Prime Credit Thread - Part V thread.


    Most Common Cards.....




    Football Cards.....


    Store Cards.....
    Last edited by never-in-doubt; 27-06-2010 at 11:15 AM.
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