Sygma Bank Credit Cards

A question about : 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 Ј1000 limit would get a Ј300 increase).

The way limits are issued is a mystery, it does appear that for most people you will be awarded a Ј1000 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.....
Selfridges Card

M & Co Card

Best answers:

• 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.
• 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 Ј2500 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'
• 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 Ј20,000. That's me out on both counts but those that meet the criteria, I would imagine, get a more substantial limit to boot
• izools where is the picture of the creation card which you said you like the look of..
• 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!
• 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 Ј17,500 (NET monthly income of Ј1,150) 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.
• 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?
• Anyone had an existing customer offer yet ?
• Come on everyone who is going to be the first to apply for the creation credit card..
• 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