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Sygma Bank Credit Cards
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# 1
never-in-doubt
Old 27-06-2010, 10:38 AM
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Exclamation Sygma Bank Credit Cards

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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# 2
DizzleUK
Old 27-06-2010, 10:45 AM
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Yeah, they said no to me this month, sad to say. My file will be much more improved come January so maybe then.

I do notice that, both recently and in the past, I have less of a problem getting accepted for Visa credit cards, but have never been successful in obtaining a Mastercard, good credit rating or bad.
Remember this: nothing worth doing is easy.

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# 3
never-in-doubt
Old 27-06-2010, 10:48 AM
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Quote:
Originally Posted by DizzleUK View Post
Yeah, they said no to me this month, sad to say. My file will be much more improved come January so maybe then.

I do notice that, both recently and in the past, I have less of a problem getting accepted for Visa credit cards, but have never been successful in obtaining a Mastercard, good credit rating or bad.
Sorry to hear you got KB'd - I usually do as well, but weirdly got accepted recently with good limit yet garbage APR so didn't take them up.

They are not scored any differently though, it's just bad luck i'd say! The fact is a mastercard & visa is only the payment brand name, the actual lender is who decides yes or no.....
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# 4
BugsyBrowne
Old 27-06-2010, 10:56 AM
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Sygma is quite a strange company really although they class themselves as a mainstream prime card,why is it they give sub-prime credit limits out,strange if you ask me as any prime card nearly always put out a 2500 upwards credit limit to start..
Was thinking of applying for another sygma card today but think i have put myself off due to their horrendous credit limits..
They should rename sygma'prime card with sub-prime limits'
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# 5
izools
Old 27-06-2010, 11:37 AM
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Although keep in mind Sygma allow a credit limit increase after three months and subsequent increases every four months after that, most prime cards demand you wait 6-12 months and even then you'll be pushing your luck getting them to agree!

LOVE the new thread BTW, great work, and also loving the new "Creation" card. That's a looker

The way they handle credit limits seems to allow them to lend to "marginal" customers that wouldn't otherwise get prime credit (like me) but quickly up your limit to where it'd be if you weren't marginal, so long as you prove to be credit worthy.

Good philosophy IMHO

EDIT: Seems the Creation card will come with better limit by default - as it demands applicants be over 25 with an income over 20,000. That's me out on both counts but those that meet the criteria, I would imagine, get a more substantial limit to boot
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Last edited by izools; 27-06-2010 at 11:39 AM.
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# 6
never-in-doubt
Old 27-06-2010, 11:51 AM
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Quote:
Originally Posted by izools View Post
EDIT: Seems the Creation card will come with better limit by default - as it demands applicants be over 25 with an income over 20,000. That's me out on both counts but those that meet the criteria, I would imagine, get a more substantial limit to boot
It seems to be matey - however see here: http://www.your-application.co.uk/ne...ummarybox.aspx

Min limit 100

yea right, me thinks they'd rather decline than offer that! * Its a safety net in case they want to get rid of you, they can if they like reduce your limit to the minimum which in this case would be 100!
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# 7
BugsyBrowne
Old 27-06-2010, 11:59 AM
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izools where is the picture of the creation card which you said you like the look of..
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# 8
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Old 27-06-2010, 12:15 PM
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Originally Posted by star-fire View Post
izools where is the picture of the creation card which you said you like the look of..
They are all (all their cards) in post 1 - have you not seen post 1??!

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# 9
BugsyBrowne
Old 27-06-2010, 12:32 PM
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Quote:
Originally Posted by never-in-doubt View Post
They are all (all their cards) in post 1 - have you not seen post 1??!

Just seen it nid 15 months balance transfer,this card has got to be the best by far..
I am just waiting for everyone to apply for it first lol
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# 10
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Old 27-06-2010, 12:39 PM
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I can't believe nobody has even thanked my post 1 yet!

Tight sods that you are




* Just for that i'm wearing my lucky Germany top!
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# 11
sutton111
Old 27-06-2010, 1:16 PM
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Quote:
Originally Posted by never-in-doubt View Post
I can't believe nobody has even thanked my post 1 yet!

Tight sods that you are




* Just for that i'm wearing my lucky Germany top!
Oi!! England to win, just cos your Scottish!!
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# 12
izools
Old 27-06-2010, 1:39 PM
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There you go NID, many a thanks for ye. Not that you need it

Definitely looks like the best card by far but I'm 24 on an "Equivelant Annual Income" of 17,500 (NET monthly income of 1,150) so won't meet either criteria.

But work are offering me full time hours to start in a month or two so I can finally cancel my benefit claims. W00t!

Might get Mother to apply soon though. No point me applying.
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# 13
Bosie
Old 27-06-2010, 5:45 PM
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As Sygma are a Prime card supplier, can anyone say roughly what credit history minimum they may need?
I have over 5 years in bank account history, nearly 3 years with the JD William's group and over 7 years with Orange mobile (contract)
I have no adverse and all up to date, the only other thing I have moved twice in the last 3 years, any thoughts or your history?
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# 14
izools
Old 27-06-2010, 5:49 PM
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Quote:
Originally Posted by Bosie View Post
As Sygma are a Prime card supplier, can anyone say roughly what credit history minimum they may need?
I have over 5 years in bank account history, nearly 3 years with the JD William's group and over 7 years with Orange mobile (contract)
I have no adverse and all up to date, the only other thing I have moved twice in the last 3 years, any thoughts or your history?
Should be fine, does your current electoral role data span two years?

Their system doesn't recognise an ER entry until it spans two years (say October 09 onward would be fine, Jan 10 wouldn't be until next year).
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# 15
izools
Old 27-06-2010, 5:53 PM
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Quote:
Originally Posted by aron View Post
You just can't get enough of yourself can you? ROFLOL
It's a bloody useful post with accurate, up to date, well laid out and useful information.

You're just being a f***wit troll. Off you pop.
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# 16
Bosie
Old 27-06-2010, 6:12 PM
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Quote:
Originally Posted by izools View Post
Should be fine, does your current electoral role data span two years?

Their system doesn't recognise an ER entry until it spans two years (say October 09 onward would be fine, Jan 10 wouldn't be until next year).
Yes, the electoral roll data is ok, more than 6 year's ago I went bankrupt so I'm a bit cautious applying, still expect a decline

Last week got accepted for a FULL Halifax bank account plus overdraft, couldn't believe it. Also applied for the Alliance and Leicester Premier account, mainly for the 100 incentive, and got accepted was amazed.
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# 17
scott_lithgows
Old 27-06-2010, 6:15 PM
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Anyone had an existing customer offer yet ?
Closing accounts anytime Abbey/Santander go near them.

RIP
National & Provincial Building Society
Bradford & Bingley Building Society
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# 18
izools
Old 27-06-2010, 6:24 PM
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Quote:
Originally Posted by Bosie View Post
Yes, the electoral roll data is ok, more than 6 year's ago I went bankrupt so I'm a bit cautious applying, still expect a decline

Last week got accepted for a FULL Halifax bank account plus overdraft, couldn't believe it. Also applied for the Alliance and Leicester Premier account, mainly for the 100 incentive, and got accepted was amazed.
Awesome I'd try for the Silver card. Should say yes based on what you said - let us know how you get on
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# 19
BugsyBrowne
Old 27-06-2010, 7:05 PM
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Come on everyone who is going to be the first to apply for the creation credit card..
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# 20
jo-bo
Old 27-06-2010, 7:24 PM
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i have applied today after reading this thread but they said i didnt meet their criteria. it said to check my equifax (3 searches in the last 12mths) and if i couldnt see anything on there to check n hunter and poss cifas, does this mean i should sar? please help nid
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