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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.
Page 3
  • stephane
    I have applied just now for the Creation card and was instantly accepted, requested to transfer 2 of my cards to them for the 0% offer so will actually see if they do it. Said that should get the card within 7 to 10 days. Once I get this one will close the silver.
  • never-in-doubt
    I have applied just now for the Creation card and was instantly accepted, requested to transfer 2 of my cards to them for the 0% offer so will actually see if they do it. Said that should get the card within 7 to 10 days. Once I get this one will close the silver.
    Originally posted by stephane
    Congrats matey

    Nice one - but you're not even remotely sub-prime anyway are you? lol..... Mr 1st Direct etc (grrr - I used to like you)

    When you know your limit could you let us know? With Flybe, the highest so far was £5k with Innocent & Myself (that we know of, for instant approval)....
  • BugsyBrowne
    I have applied just now for the Creation card and was instantly accepted, requested to transfer 2 of my cards to them for the 0% offer so will actually see if they do it. Said that should get the card within 7 to 10 days. Once I get this one will close the silver.
    Originally posted by stephane
    Well done stephane let us know what limit you get..
  • stephane
    Congrats matey

    Nice one - but you're not even remotely sub-prime anyway are you? lol..... Mr 1st Direct etc (grrr - I used to like you)

    When you know your limit could you let us know? With Flybe, the highest so far was £5k with Innocent & Myself (that we know of, for instant approval)....
    Originally posted by never-in-doubt
    Thanks NID for this thread as otherwise I don't think I would have known that creation was doing a card with 0% for 15 months. I did not think I'd get accepted as I got the Flybe back in September last year and the Silver card only about 3 months ago. I have requested to transfer 2 small balance totalling about £1500 so am expecting at least that limit but will see. Likely that once I get it, will pay off flybe as planned and close both Flybe & Silver. Now I'll be curious to know if they are going to be as lenient with this card in terms of application as they've been with
    other cards....when I know limit & apr will all let you know
  • never-in-doubt
    Thanks NID for this thread as otherwise I don't think I would have known that creation was doing a card with 0% for 15 months.
    Originally posted by stephane
    Morning matey - Don't be blaming me if you run up huge debts LOL
  • stephane
    Morning matey - Don't be blaming me if you run up huge debts LOL
    Originally posted by never-in-doubt
    I am not prepare to be as stupid as I was with my finance as a few years ago, it was a long & painful road to recovery
  • BugsyBrowne
    Just checked me equifax report everything seems good on there,just waiting for what credit limit stephane get on creation card b4 i think of applying..
  • izools
    Thanks NID for this thread as otherwise I don't think I would have known that creation was doing a card with 0% for 15 months. I did not think I'd get accepted as I got the Flybe back in September last year and the Silver card only about 3 months ago. I have requested to transfer 2 small balance totalling about £1500 so am expecting at least that limit but will see. Likely that once I get it, will pay off flybe as planned and close both Flybe & Silver. Now I'll be curious to know if they are going to be as lenient with this card in terms of application as they've been with
    other cards....when I know limit & apr will all let you know
    Originally posted by stephane
    Congratulations!

    Remember though that you can't transfer your Silver or Flybe balances as they are all from the same company - unless you "buny hop" the via another card that isn't part of creation / sygma - however doing this will incur two lots of balance transfer fees

    Do let us know what sort of limit you get. Do you mind my asking how old you are / what your income is?
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • savagej
    I am getting interested in this creation card now as the worst that could happen is a decline and I hardly have any equifax serches. Also have the silvercard and got the 30% increase to 1.3K. Should I hit that apply button?
    • ElkyElky
    • By ElkyElky 28th Jun 10, 12:14 PM
    • 2,422 Posts
    • 2,739 Thanks
    ElkyElky
    I am getting interested in this creation card now as the worst that could happen is a decline and I hardly have any equifax serches. Also have the silvercard and got the 30% increase to 1.3K. Should I hit that apply button?
    Originally posted by savagej
    It won't be the end of the world if you were declined. You'll never know unless you try.
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • mnomis
    Damn and blast

    I last got knocked back 5th April, so 5th October by the looks of things before I can re-apply.

    Does anyone know if there is any way around this?

    Sure that when I last applied and was turned down, they told me I could re-apply in 3 months.
    Capital one £200 - bal nil. Aqua £350 - bal nil
    Vanquis limit £250 £750 £1250 - bal £450. Nat West overdraft limit - £300, unused. JD Willaims limit £400 £600 £900 - bal £90.
    Very limit £400 - balance £329 (buy now pay 2011!)
  • never-in-doubt
    Sure that when I last applied and was turned down, they told me I could re-apply in 3 months.
    Originally posted by mnomis
    Instant decline if you apply before 6mth - as you're not an existing customer (existing customers can reapply after 3 months)
  • mnomis
    Instant decline if you apply before 6mth - as you're not an existing customer (existing customers can reapply after 3 months)
    Originally posted by never-in-doubt
    Thanks NID.

    By then I'll have no searches in 6 months as that's the most recent.

    Have just cleared the catalogue accounts opened by the wife (appearing on my file) circa £2500, so now just need to try and get Shop direct to remove the late payment markers I PM'd you about.
    I've done my bit (clearing the accounts) but not even had a reply from them.
    Capital one £200 - bal nil. Aqua £350 - bal nil
    Vanquis limit £250 £750 £1250 - bal £450. Nat West overdraft limit - £300, unused. JD Willaims limit £400 £600 £900 - bal £90.
    Very limit £400 - balance £329 (buy now pay 2011!)
  • never-in-doubt
    Thanks NID.

    By then I'll have no searches in 6 months as that's the most recent.

    Have just cleared the catalogue accounts opened by the wife (appearing on my file) circa £2500, so now just need to try and get Shop direct to remove the late payment markers I PM'd you about.
    I've done my bit (clearing the accounts) but not even had a reply from them.
    Originally posted by mnomis
    See how you get on, late payment markers are a killer but can be easily wiped given the right circumstances and the right CSO that looks at your complaint - if you get no joy with them let me know and i'll try help you out...
  • izools
    Instant decline if you apply before 6mth - as you're not an existing customer (existing customers can reapply after 3 months)
    Originally posted by never-in-doubt
    My Silver card was approved ~ two months after being declined for it in January. My MyWorld card was approved two months after I was given the Silver card, and a limit uplift on my Silver card approved one month after I took out the My World card.

    They must love me
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • never-in-doubt
    My Silver card was approved ~ two months after being declined for it in January. My MyWorld card was approved two months after I was given the Silver card, and a limit uplift on my Silver card approved one month after I took out the My World card.

    They must love me
    Originally posted by izools
    If you never had an account with them originally then they wouldn't approve an account after 2 months since last decline matey - we have had this chat several times before IIR?

    It cannot happen, the system will throw an auto decline as failed to meet criteria - that is before the actual credit score took place!

    Maybe just maybe you applied, got declined then reapplied within the 6 month period to get auto decline then reapplied again and were accepted, this would mean that the incorrect middle application (the auto decline one) would not count as a new application so the 6 months would be from first to third applications.

    If you're on about after being an existing customer, then you can reapply for them every month actually can't you? I'm sure people here have applied and had accounts opened in jan / Feb & March! lol - maybe i'm confusing things eh? I'm speaking about having one account with them, applying then getting declined - you'd then have to wait 3 months.

    Or does it make sense?
    Last edited by never-in-doubt; 28-06-2010 at 3:42 PM.
    • kilasuit
    • By kilasuit 28th Jun 10, 6:02 PM
    • 651 Posts
    • 705 Thanks
    kilasuit
    Re limit increases

    Just been told its 4 months for initial increase and then every 3 months after that.

    But that was by a bog standard advisor.
    £12000 to go
    Sealed pot = £5.84

  • rickee48
    I did a posting about applying for the Accessory card last week, I applied online but got we'll let you know response. Today got a letter off them asking me to sign the agreement and get it sent back. It also says I've got 3 months interest free, 20% off an order with JD Williams. When I get the card I can ring this number with my name,address and they'll send me £15 of M&S vouchers. Does the accessory card offer a lesser credit limit, is it scored the same as the silver/flybe?
  • izools
    Re limit increases

    Just been told its 4 months for initial increase and then every 3 months after that.

    But that was by a bog standard advisor.
    Originally posted by kilasuit
    That's what I was told by the first advisor I spoke to last week but the second confirmed it's the other way around - three months for first - four for subsequent increases.
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • izools
    If you never had an account with them originally then they wouldn't approve an account after 2 months since last decline matey - we have had this chat several times before IIR?

    It cannot happen, the system will throw an auto decline as failed to meet criteria - that is before the actual credit score took place!

    Maybe just maybe you applied, got declined then reapplied within the 6 month period to get auto decline then reapplied again and were accepted, this would mean that the incorrect middle application (the auto decline one) would not count as a new application so the 6 months would be from first to third applications.

    If you're on about after being an existing customer, then you can reapply for them every month actually can't you? I'm sure people here have applied and had accounts opened in jan / Feb & March! lol - maybe i'm confusing things eh? I'm speaking about having one account with them, applying then getting declined - you'd then have to wait 3 months.

    Or does it make sense?
    Originally posted by never-in-doubt
    PM me your email addy and I'll fire over my EQ report so you can see for yourself.

    EDIT: Subsequent applications within six months of being declined, as a new customer, flag up as a "Duplicate".

    This can be overridden by the applications team with the consent of a Team Manager.

    The day I was approved for my first Sygma card, I was given the 7-10 days for a response online, so I called, the lady said "Have you applied recentlt", I advised "Yes, but I've fixed some errors on my credit file"... She say "Oh it's flagged up as a duplicate, hold on while I speak to my manager"... "Well sir I'm pleased to say"... etc
    Last edited by izools; 28-06-2010 at 7:17 PM.
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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