Why I Got Denied 3X By Synchrony Bank for The Sam's Club Business Mastercard & Approved the 4th Time
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- Опубліковано 14 жов 2024
- In this video, I share my journey to my Sam's Club Business Credit Card Approval. We all know this is an account without a personal guarantee, and a very useful one at that, for our real estate investment business. But, this approval didn't come easy, I got denied 3X by Synchrony Bank for the Sam's Club Business Mastercard & approved the 4th time I applied for it. Watch the video and learn why I got denied, and what I did to get approved on the 4th application.
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Sams Club is all about verifying business info. In my experience they couldn’t care less what vendors you have, if they find any conflicting business info it’s an automatic denial. It’s good news for business owners with little business credit but bad news for businesses that have been around for a while and have made changes to their business. So glad you got approved Wilber! Congratulations 🍾
That's very true. They couldn't care less about how much business credit you have, one little conflicting info and you're denied. Thanks for stopping by, Kelvin.
I walked in and was approved for the MasterCard on the first try with Sam's Club but can't for the life of me get a Lowe's approval lol
@@luxuryden6391 congratulations! But yeah, two totally different sets of qualification. Lol
THanks for letting me know this. I was wondering why they denied me.
This is VERY true bro... but I still suggest having 5-7 vendors with 1-2K spent to get higher INTIAL 5K+ limits most people open 2-3 vendors them b line to sams club to get the 3500 approval... Wilber my man congratulations are due you endured to the end and got the Prize bro! Kudos to you and salute for making it happen man..
Great stuff! Thank you sir. Quick question - do you recommend to FIRST apply for Sam’s club membership and then wait 32 days before applying to for card (to build the relationship, etc)
I also had to apply 3 or 4 times for that card after having all the other Synchrony Business accounts you mentioned. Mine I found out after many conversations with Sam's Club member services and Synchrony Bank over several months was that my Sam's Club account was a consumer account and I was applying for Business Card. They also kept closing my Sam's Club account too because of this issue. That had to be fixed.....Grrrrr. I am not sure if that was the only reason for the first couple of denials but it sure was FRUSTRATING to say the least. It seems like Sam's Club and Synchrony bank did not know what each other was doing. It was crazy for a while. Thanks for the video and the info on the other credit bureaus.
Very interesting and informative video.
My channel is publishing the best content related to business, business credit cards, stocks, real estate, real estate investing.
This info helps
I applied and was denied twice. I went and updated my NAICS code AND I corrected my address it was exactly the way it's listed on my LLC. Got approved for 8K for the Sams Store Card. I went back 2 weeks later applied again and the application was pending. I called immediate and they verified me and approved me for $10K for the Sams Master Card!
🙌🏾
Damn! Well done. Keep killing it, queen!
Cece, same thing just happened to me! I applied in the store and their system wouldn’t complete the application, so I had to call. When I called Synchrony, they had to verify over the phone and after a few minutes, he came back and congratulated me on an 8k credit card. I was like “ is it the Mastercard”? He said no, the store card. 🤬 So I’m going to do the same thing you just mentioned and go back in a few weeks! Where did you change your NAICS code?
where did you update the info? I heard they check Experian Business
@@Lisciousw Awesome 👏🏾 what naics code did you use?
Just ran across this video. We always had the Synchrony Sam’s card and at one time we had them both the store one and the Mastercard. The Mastercard has been our go to for cash rewards. We pay everything with it and we average around 100.00 a month In cash back. Great Video!
Great video testimonial. A lot of people and businesses forget about secondary data furnishers. I'm glad to hear you got your card and now don't forget to request a credit increase after 90days of usage.
Thank you sir, for your loyal support. You have been immensely valuable to us!
@@BusinessCreditVertex Is this a hard or soft pull? for sams business master card.
I applied and was denied. After watching your video I contacted lexis nexis and found out that they didn’t even have a profile for my business! Now that it’s updated I’ll apply again next month
Well done! Your odds of approval just jumped to a 85%
After updating my business information with lexis nexis, I was just approved for $3,000 sams club store card. Next month I’ll try for the master card!
@@PS-xe4mh How long did u wait to apply after updating your info with lexis nexis?
How did you get LexisNexis to update your business profile? I contacted their office and they stated they do not take information from business owners and their information has to come when a vendor reports your company. So I am amazed to know how you got them to do this??
@@sintrelbutler-parker7757 same. I had to file a complaint against them.
Thank you. I am a new business owner and I've watched tons of videos encouraging business owners to get a Sam's credit card but everyone failed to mention this important tip. So thank you for taking the time to explain your situation in order to keep many others from experiencing the same thing!
My pleasure! Thanks for stopping by and don't forget to subscribe, please.
Got approved for the business MasterCard today...8k...so now I have the store card and the master...thanks for being upfront about these cards.
Nice work!
🙌🏾
Hi do you think you would have had a easier time if you were just a regular sams club credit card customer for 6mos or so then gradually moved into business credit products?
No, it wouldn't make a difference.
Great story and thank you for sharing it. I have been denial for some card but I always keep focus on the Gold. Do I need a Sam card to reach my gold. I stay focus on what it is I need and that capital for flip homes so could build other ways except with Sam Club card but thank you anyway.
Denied because the number was unverifiable. We had the same number for over 4 yrs. I don't know where or how to fix it
Synchrony as a personal card sucks unless you use the cards AND maintain your personal credit score about 675. If your personal score drops, they will either lower your available credit or even close the cards without notice
You can fight it using consumer laws and get your amount lost..
No consumer law for business credit
Congratulations on the approval man and thank you for sharing your experience. It’ll help a lot of small business owners down the road .
I appreciate it!
Your business info was on your personal Lexis Nexis report?
Nope, business Lexis Nexis
I've also applied three times and Guy denied this information was very helpful. I'm going to check with Lexus Nexus and the other bureau to make sure that my information is matching up
I applied and got denied, but watched this and checked my Lexis Nexis, so glad I did all wrong information!! Will try again after updating !!
How do you check your Lexis Nexis? I have called and been told they don't take information on businesses over the phone and that I don't have a business file. This is so absurd!!
Good luck!!
@BusinessCreditVertex I'm actually going through the exact same thing you have went through. I've applied 3 times as well and have been getting denied. From listing to your videos I pulled my LexisNexis report and they did have my business information wrong when I called them up. I gave them the correct information and waiting for everything to update with LexisNexis. Once it has updated I will apply again. My question to you is at the store I'm at the store associate said they are not allowed to call the number. I wanted to know in your opinion will that make a difference or not?
Hey that was a great video Wilbur I have applied for Sam's Club three times and got denied every time so maybe I need to check my Nexus Lexus thanks for the heads up
I reached out NAV and Dun & Bradstreet to try and get a copy of my business reports. They both replied that they cannot provide the specific tradelines reporting in these bureaus, as these reports are public, and the bureaus don't disclose that information.... so, how the heck are we supposed to verify what's reported and the accuracy of the information?
Lastly, I wanted to ask what credit bureau does "Sam's Club Business Credit Card" pull from? And do they report to all business bureaus?
NAV is the wrong place to even look at your business credit score. Go directly to the source! You need to pay a membership with Dun & Bratsreet and with Experian, this will allow you to see what accounts are reporting, and what's the credit score.
@@BusinessCreditVertex Well, apparently Dun & Bradstreet doesn't allow to see the accounts reporting with them.... they sent an email saying that this is public information and for that reason they don't provide this information. I will try with Experian. And have no idea how to do it with Equifax :/
Applied almost 2 weeks ago was denied because they couldn’t verify my business name I tried calling to make sure they have the right info they said everything was right on their end I think the store clerk put something incorrect when should I reapply
Lexis Nexis messed me up too!
That's their job. In fact, all business and consumer bureaus do that to get money.
Hey I've been denied 3x as well for a Sam's Clyb business account and I have 2 Synchony accounts as well please help!!!
The video tell you why and how to solve it.
How do i get in touch of Nexis Lexis. Do i need to sign up for account and view my information or how do i go about it
Google their phone number and address. Try both ways.
I have applied 2x for the Sam’s Club store card and been denied. I have absolutely nothing on my business credit, so I’m trying to do small things to build my business credit,
Don't stop trying. I was denied 3X before I was approved.
You need to have everything filed correctly and consistent with the state.
Was denied , did everything I thought diligently and have no clue as to why. Waiting in denial where do I go from here ?
What do you do from here? Do not give up! I had to apply 3X for me to be approved at the 4th try. Call LexisNexis (Google their number) and make sure your info is right. There's something about your business info online, that's preventing you from getting approved.
Question? I applied for Sam’s Club Business Mastercard today. I have a 80 paydex score and a 85 Experian business score. I spoke with the underwriter and I was told my application is pending and I will get a response in 30 days what should I do?
Wow. This is a GEM. Never heard of LexisNexis. What is their number? I was going to go in to SAMS today but after hearing this, I will wait and verify everything!! Thank you!
How long did it take them to update your address? I called them & they said i cant change it they only go off of public records & they dont know when its gonna update
Do I got this card as my first card to help build my credit and before my first ever due date, my $(145) balance was reported and my score took a -13 point hit… what am I missing here?
Your business credit score? If yes, which bureau?
Hi my name is Salvador I got approved for $3500 they gave me a black card next thing happen the computer popped up error and he did it on a other computer and I got denied he call some number and they told him everything was good no error was shown on there side hope u can help me
That's strange. I believe what happened was you were approved the first time but because of the error the clerk applied again and he called to figure it out but because you were approved the first time, they said everything was ok.
My brother I applied yesterday for the Sam's Club Business Master Card, and I got denied immediately, I just want to ask you, is there anything to do that my Personal Lexis Nexis is freeze?? Is your personal lexis Nexis the same as business?? My personal lexis Nexis is freeze because I am working on my personal credit. What is your recommendation in my case?? I appreciate you.
Ain't got nothing to do with your personal, brother. Synchrony is using your business info, unless you decided to PG the app.
@@BusinessCreditVertex no I didn't PG the card, I just waiting then for the letter to see what was the reason and I will call then because me business is very well structure. I'll keep you posted. I appreciate your time and pront response brother.
How do I fill out the app correctly? do I use my dnb number as the ssn?
I got approved for the SC master card. Can i go and apply for the business card immediately or wait, and how many days should i wait before applying for the SC business card
You could apply as soon as you want, once you have been approved for one.
bro it took you over 6mins to get to the point to explain why you got denied that's insane.
Thanks for the feedback. I am getting better at this, trying to improve based in your valuable feedback. Thanks so much for taking the time to check out my content and for your feedback.
Thank you for the information. how long did you wait before applying again?
I am current waiting for my 32 days for the business sams club video, I am just waiting on my paydex score !
I opted out of Lexis Nexis will this cause a denial if I apply?
It depends. Did you opt out for your personal credit, or business?
Nope
Do both cards report to Duns. The store & the Mastercard?
I believe only the mastercard reports to DnB
Ty for the video! U named credit safe … and could you please spell out the second one… I heard “insonia” lol, and I can’t find it lol
lol Ansonia. I know my pronunciations are a bit hard lol
I applied today and got denied. Can you help me please...😔
Hello, Thank you for this information. I did not know this but it stands to reason why I was denied because they did send a letter stating business information is not correct. However, I did not know that there were other business CB's....WoWWW! I know LexisNexis has personal reporting but I did not know they handled business side nor did I know about the other ones...! Can you provide the LexisNexis Business customer service dept #? Again thank you so much for all of your content.
Glad I could help
People keep asking for Lexis Nexus number but he keep ignoring it
What are the data points? I heard it was 7 lines on Experian? What about the Experian score needed?
Data points: as I mentioned a few times throughout the video, make sure your business info is consistent across all business credit bureaus. Don't fixate so much on "how many trade lines" and such.
Got denied for Sams twice, but dont know why? Don't have a paydex score but other numbers are good.where do i start? Really need that account! Help
Try getting lower tiers accounts like Quill, Office Garner, Grainger to get your scores going.
One thing no one says is what did the letter they send in the mail say???
Same thing all their letters say. "You're denied"
I've applied and turned down due to unable to verify identity. What should I do?
This is very common for Sam's Club. Try finding out where is the conflict with your business info. Try Lexis Nexis
I applied twice for Sam’s Club and got denied because they couldn’t verify my information.
I was denied because I forgot to put the inc behind my company name
😬
Where did u call
Thank you for sharing your experience with us, it is and will be very helpful.
My pleasure!
Do they report to dun And Brad street
I don't think they do
Who is Professor Crane/Cane? Does he do consultations?
No, I do not do consultations however I do provide free information in the Facebook group when I have free time.
@@professorkrane3658
Which Facebook group?
facebook.com/businesscreditvertex
@@BusinessCreditVertex
The link doesn't work
I was recently denied twice for the Sams Club MC for my business. I will take your advice and check my LexisNexis report for my biz. Thanks
Make sure your NAICS code is also the right one.
I been denied once but it was because someone but my ein number wrong then the underwriting department ran my business credit 5 times and i went back today and tried and they told me i have to have a manual review which was said before now im discouraged al over again because this is stressful
I can relate on how stressful this could be. But I can tell you it is totally worth it, keep going and don't give up! You are so close, now.
Hey how long in between should we apply for the accounts under synchrony
My channel is publishing the best content related to business, business credit cards, stocks, real estate, real estate investing.
Can you opt out of the lexis nexis
It would not be in your best interest, to do so. But, I guess the law should back you up, should you decide to do so.
Update :2k approved after waiting 30 day of purchasing the Sams club business card
For that car do you need to have a business?
i got approved today for the store card but im more interested in the mastercard, ill probably wait 90 days n try to apply again
Good luck! You got this 💪🏽
I applied and was denied according to the letter they sent said “unable to verify address through Duns and Bradstreet
Make sure all your info is good on DnB
I actually called lexus they said they have no record of my business . 🤔
Dang! That's odd.
Same thing they told me which is so weird!!
Got denied: Couldn't verify address. Don't know what to do.
Synchrony bank play games, got denied multiple times
I invite you to look at it from another perspective. Try figuring out why, make sure your business info is straight.
Dude, please just get to the point!
Hola, I just applied today for that same credit and was denied, and ur info. was very helpful 🙂
Glad it was helpful!
How long did you waited when call lexisnexis to reapply agained? Whats the number?
Once everything has been straightened out on LN you could apply as soon as you want to.
I applied for a sams credit card they gave me only a store card for $8k but I wanted the Mastercard, how would I be able to get the Mastercard?
I am with you but on the opposite spectrum. I got the Mastercard but I am looking for the store card, now. All you have to do and apply again. When they put you on the phone with Synchrony specify that you're looking to get approved for the business Mastercard.
What program do you use for your Thumbnails? I know you can do them for free but whatever 10 bucks can save me from struggling 😅
Reach out to me, I will help you (no cost) let's end that struggle 🤣
I went to sleep on thus guys video thr÷ times finally watch it but good info
It's crazy how you mentioned Lexus! Thank you, I'm going to check mine because I got denied twice regardless of my Sams store card and relationship with Synchrony...I will update my comment later.
Good luck with that, sir. I am glad we can help. 😊
update
What's the phone number to check if they approved or denied?
Google Sam's club credit services
I applied today for the business cc and they said they will mail me a decision letter, usually that makes me believe that I’m denied, what do you think?? Do they usually tell you on the spot if your approved?
When they say that it is very likely that you were denied but, I've seen too many a times, where someone who was told exactly that and they call Synchrony and they get approved. So, never hesitate to call them and ask.
@@BusinessCreditVertex .... thats what I was thinking too, I will call them, thank you.
Do Sam’s club decide the amount of credit you get or you?
Neither. Your business credit decides it.
@@BusinessCreditVertex thank you
I’m in Wisconsin can you help me?
Shoot me an email.
🙌🙌🙌 great info Will, my situation with Synchrony
Glad it was helpful!
Thank you bro for info!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
My pleasure, glad it was helpful. Thanks so much for your support!
Get to the point buddy on your videos
Congratulations 🍾
Great video thank you!
Glad you liked it!
What is the number you called?
An easy Google search.
Synchrony business credit cards are useless because they report to the 3 major credit bureaus.
And here I thought that was a good thing but, I was wrong I see.
@stevemiller7747: where you get that information from? Did you PG? Did you do something negative on your account? If you applied as a business they should not have your social security number. Business Cards reports to Experian Business only.
I’ve been denied 5 times now
Congratulations on getting the new card. Yes, those database companies be bothersome. Glad Prof. Krane suggested the Lexis Nexis correction.................Anyway, you are about to get a whole lot busier.........HAHHHHAHAAHAHA..............Let's talk soon!
You're about to transform y business, yet again! hahaha
I am having a hard time getting approved not for my Experian business credit score but I am getting a response that they can't verify my business name. I have an established file with D&B, Equifax and Experian but apparently LexisNexis does not have any information regarding my business which is absurd. I am a certified WOSB that does business with the federal government. I am registered with the Secretary of state for my stated, have a valid website and a Google presence.
I called LexisNexis and was informed that they don't take information over the phone regarding businesses and that I pull information from different sources or I have to have a business? report my company. I am totally confused and frustrated. Does anyone have any information on how to fix this situation?
Hey sir/ma'am, I understand this could be frustrating, trust me, I've been there myself. But, there's lots of information about how to deal specifically with this. I would suggest you get yourself an account with Lexis Nexis and create your own profile. Once you do that, contact them and have them confirm your info so that, when Synchrony goes back and check your business info, they approve you.
I knew it was your information in the first part of the video. I said to myself it’s probably his address or phone number.
Dont be devastated it's just a credit card no body died.
My channel is publishing the best content related to business, business credit cards, stocks, real estate, real estate investing.
😂😂
How did you get in touch with lexisnexis? do you have a number to reach them?
Been denied twice
I just got the store card I want the Mastercard as well
My channel is publishing the best content related to business, business credit cards, stocks, real estate, real estate investing.
Dude not you!!! Glad you got approved!
I appreciate it!
I applied for the SC Mastercard and they sent me the SC Store Card with $8000 limit and a denial letter for the SC Mastercard, I haven't tried since.
My channel is publishing the best content related to business, business credit cards, stocks, real estate, real estate investing.
I've been denied 3x
There's gotta be some conflict in your business info, causing the denial.
I guess so, I've been over my information several times since watching your video and I can't find anything. 🤷🏿♀️
I'm sorry to say this.. I like your content but you don't go straight to the point
Why are you sorry? lol it's ok to give feedback.
Can you correct your information online?
Yes, you can. When Synchrony denies you, it is usually incorrect info on Lexis/Nexis.
Great stuff I appreciate this video I'm about to apply for the MasterCard the business MasterCard my llc's only been open about about 6 months and I already am a Sam's club member and I just got about three or four vendors they're not this past month so they're not all have reported showing November I do believe like three of them will report once I pay the fees like for you know what she supply Creole crayon office Depot I just need them to report I think next month around November the first week of November so you have any ideas send a message back to to me on a reply but they told me my business is registered with Sam's I just have not pulled the trigger and apply for the card yet and all my information seems to match
Well done! Keep going, you're on the right path!
lexisnexis never called me back
You have to stay on them.