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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 2
  • izools
    Are those limits or balances in your signature?

    If they're limits, then you have one HELL of a lot of credit available to you! Enough to scare off most lenders
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
  • DizzleUK
    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
    Originally posted by jo-bo

    It wouldn't surprise me if it is because (according to your signature) you have 51,850 worth of credit agreements already! I take it you earn in excess of 100,000 a year?

    I would think they reckon you have enough credit already.
    Remember this: nothing worth doing is easy.

  • DizzleUK
    Are those limits or balances in your signature?

    If they're limits, then you have one HELL of a lot of credit available to you! Enough to scare off most lenders
    Originally posted by izools

    Great minds....
    Remember this: nothing worth doing is easy.

    • jo-bo
    • By jo-bo 27th Jun 10, 7:38 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    ha ha, thats the limits! The annoying thing is i've closed down 5 sygma credit cards down in the last 2mths- DAYS, JJB, JJB GOLF, SILVER AND ADAMS, so thought i'd get this no probs! just wondering if its cause i'm self employed with it saying i don't meet their criteria although i got the DAYS card in march, must higher scoring criteria.
  • izools
    Chances are they have a time limit between closing accounts and being allowed to re-apply. Typically this is 6 to 18 months depending on the card company.

    Those limits are still very extreme nonetheless!
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
    • jo-bo
    • By jo-bo 27th Jun 10, 7:41 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    youve done well there drizzle uk to add up all my limits, i didnt ask for them and i've had them for a long, long time. if you had seen my earlier posts you would know that i had another 6 credit cards that i've closed down, however if i'm not up to my limits, never missed a payment and have shown my ability to pay, why can i not take out a new credit card?
  • BugsyBrowne
    Jo-bo if someone asked you to borrow 50 off you then they got 5000 of notes out of there pocket would you lend them money..
  • izools
    youve done well there drizzle uk to add up all my limits, i didnt ask for them and i've had them for a long, long time. if you had seen my earlier posts you would know that i had another 6 credit cards that i've closed down, however if i'm not up to my limits, never missed a payment and have shown my ability to pay, why can i not take out a new credit card?
    Originally posted by jo-bo
    It's very simple. You already have the facility to borrow in excess of 50,000.

    Unless you can demonstrate that you can easily afford to clear debts amounting to your existing limits + the extra credit of a new card, you are considered a high risk.

    Creditors will look to decline anyone with limits that add up to more than 40 to 50% of their annual income irrespective of how gleaming the other aspects of your file and application are
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
    • jo-bo
    • By jo-bo 27th Jun 10, 7:47 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    [QUOTE=star-fire;34188557]Jo-bo if someone asked you to borrow 50 off you then they got 5000 of notes out of there pocket would you lend them money..[

    that makes no sense. i feel that you star-fire have a very large chip on your shoulder, i have read this thread everyday and you seem to chip in every now and then with nonsensical advice and then if someone posts something you dont agree with or gets a new card that you dont you have a very large prissy fit
    • jo-bo
    • By jo-bo 27th Jun 10, 7:49 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    you're right izools i do but i've had these limits, as i have previously said for a very long time, the reason i posted was to ask n-i-d for help in what was quoted in the decline. i've been declined before but i've never seen a reference to cifas or n-hunter
  • DizzleUK
    "Drizzle" lol

    From what you have added, it's got to be the fact you have just closed down some of their products. Now you have applied and been declined you'll need to wait until after Christmas at the earliest to try again.
    Remember this: nothing worth doing is easy.

    • jo-bo
    • By jo-bo 27th Jun 10, 7:53 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    let me put it another way, my santander card was opened in jan 2010 when i had 14 cards available with 68k of credit opened to me, likewise with Days mcard, i dont think that it matters with some lenders but it does with some as to how much you have available, all i'm looking for is answer to my original post,not a disagreement as to how much credit ihave available, please
  • BugsyBrowne
    [QUOTE=jo-bo;34188647]
    Jo-bo if someone asked you to borrow 50 off you then they got 5000 of notes out of there pocket would you lend them money..[

    that makes no sense. i feel that you star-fire have a very large chip on your shoulder, i have read this thread everyday and you seem to chip in every now and then with nonsensical advice and then if someone posts something you dont agree with or gets a new card that you dont you have a very large prissy fit
    Originally posted by star-fire
    Well stop wasting everyones time coming on here asking for advise about getting turned down for a credit card when you say you have 50k available to you,to be honest you are either telling a lie about your limits or you are coming on to this thread to brag about your limits,either way you wont get no sympathy from me with 50k available to them..
  • DizzleUK
    you're right izools i do but i've had these limits, as i have previously said for a very long time, the reason i posted was to ask n-i-d for help in what was quoted in the decline. i've been declined before but i've never seen a reference to cifas or n-hunter
    Originally posted by jo-bo
    That might be standard for them or it may be tailored to the fact you have high limits and just closed down some of their accounts.

    Ditching all of a company's products in a short space of time when you have a lot of others open could indicate you are dissatisfied with them for some reason. The subsequent application could then be seen as questionable and they are suggesting you check out if your details are being used fraudulently.

    Your credit file will show if you have any CIFAS reports. N Hunter you would need to contact them directly. NB if you want a SAR from N Hunter they will want to see proof of ID (2 items) before they provide the info you want.
    Remember this: nothing worth doing is easy.

  • izools
    All Sygma decline responses reference N-Hunter whether or not they were the reason for the decline.

    If it's not do do with your limits, then it's to do with re-applying within the timeframe Sygma have set between accounts being closed and applicants being accepted as a new customer

    As I've said, this is 6-18 months depending on the card issuer. Not sure with Sygma.
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
    • jo-bo
    • By jo-bo 27th Jun 10, 8:01 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    so because i have more credit available than you i'm not entitled to ask for advice , so much for hospitality. apologies to dizzle uk, sorry i misread your id, thought it was a joke about crummy weather we usually have in the uk! star fire i would take a long look at how stroppy you come across, i dont feel the need to brag about how much i have, 11yrs ago i had no credit, was 3mths behind on my mtg and was getting 100+ bank charges every mth, i have lots of advice to give on some subjects but need help on others i thought that this was supposed to be a place for all.
    • jo-bo
    • By jo-bo 27th Jun 10, 8:04 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    thanks izools, thats all i was looking for, got my free credit report from equifax and couldnt see anything from cifas but wasnt sure it it showed all cifas entries on there, isnt there 4 categories?
  • BugsyBrowne
    so because i have more credit available than you i'm not entitled to ask for advice , so much for hospitality. apologies to dizzle uk, sorry i misread your id, thought it was a joke about crummy weather we usually have in the uk! star fire i would take a long look at how stroppy you come across, i dont feel the need to brag about how much i have, 11yrs ago i had no credit, was 3mths behind on my mtg and was getting 100+ bank charges every mth, i have lots of advice to give on some subjects but need help on others i thought that this was supposed to be a place for all.
    Originally posted by jo-bo
    And when i said about would you lend someone money who already has loads,you came back having a pop at me i did not write that to have a go at you..you must admit though jo-bo how that came across having 50k available to you then going into sub-prime threads asking for advice..
    Last edited by BugsyBrowne; 27-06-2010 at 8:28 PM.
    • jo-bo
    • By jo-bo 27th Jun 10, 8:36 PM
    • 376 Posts
    • 253 Thanks
    jo-bo
    everyone knows that it's the best place to come for help, regardless of who you are credit wise
  • izools
    so because i have more credit available than you i'm not entitled to ask for advice
    Originally posted by jo-bo
    You're entitled to advice, and you're getting it, but you don't like the answer from the sounds of things.

    Big limits + small balances wasn't much of an issue a while ago but more and more credit score is changing to judge people on what extra credit they could afford if their existing facilities were maxed out.

    That's just the way the land lies I'm afraid matey
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
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