All GE Lovers , Check this out.

[patrick00032001]

GE didn't black list me at all, I just decided to find other places to entertain, after about 2 years or so, I tried for another GE card, and now I have Wal-Mart Discover $6,300.00, and AE Visa $4,100.00, JC Pennys $6,800, Lowe's $10,000, Sam's Private Label $10,000 and Amazon, $2,500.00, I just dont go after every GE card now, and Im VERY careful how I manage any GE card I carrry!

[waiter]

I am actually considering these accounts closed by GE. I want to know , after GE closes the accounts where do I stand with GE down the road, like a year later or so. i am not in so much need in GE credit, and maybe GE knows that too by now that its too much available credit for us, more than we need.

Patrick, Can you please say did GE blacklist you for 2 years? or you did not apply for 2 years with them?

[patrick00032001]

As I followed up with in my previous post, No, GE didnt black list me, I just refrained from applying with them, I will tell you, Citi Retail softs my Eq reports almost monthly like clock work! Macy's, Home Depot, Sears, and both my Citi Bank Mastercards too! I have just had to accept, most, if not all creditors will keep an eye on your activity, they have risk involved, their objective is to be profitable, if we pose risk in any fashion, they will shut us down! I try to educate myself as much as they do, I find it keeps the lamb ahead of the wolf!

[waiter]

Patrick... okay thats good to know you back in with GE. gives me hope.

[patrick00032001]

My credit has gotten so much better since then too! 765 TU, 753 Eq and 759 Exp! I am actually in the process of having a new home built, I have already closed on my construction loan, its a one time close process, which makes it nice, as the construction loan rate "3.875%" will carry over to my perm financing at the end of construction! Gotta love credit unions!

[JonStur]

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@patrick00032001 wrote:

I had that happen to me about 3 years ago, I requested a credit limit increase on my Care Credit Card, it triggered an internal audit on me with all of their other cards as well, it seems to me at that time, I had to send in a copy of my utility bill, drivers licence and social security card, in fact, the contact name I got from the letter was Darla, and I had to mail all of this to Dayton Ohio! Needless to say, they closed all of my accounts and I had to start all over again! Its a very hard thing to swallow as we build history with these people! Equifax seems to be the bureau of choice for auditing, I know this, as this is what they pulled on me too! I think at the time it was for too many inquires and too many new accounts, after about 2 years, I was able to obtain GE cards again, and have never had another issue since! I hope you guys don't have to go through what I did, just be prepared for it, and best of luck!

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Welcome to the Forums!! Our family is growing by leaps and bounds!!! What happened was Equifax is really pushing their Risk Management business..with programs like Decision 360, and what they call the "White Paper" which provide Debt-to-Income evaluation for creditors. They soft you and decided through Equifax's analytics, that you became a risk. As they say on their website,  

Why use Equifax

As the needs of our customers have evolved, so have we. Expanding on our role as the trusted steward of credit data, Equifax has grown into the leading provider of technology-and analytics-fueled information solutions.

  Risk Management

Risk management in an evolving economy requires a more in-depth view of consumer credit health. Traditional risk management measures, like credit scores alone, may not provide enough insight for marketing optimization and profitable portfolio management.

[waiter]

wow. that explains it.

Most recent equifax score from this site is  734 as of today

[JonStur]

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@waiter wrote:

wow. that explains it.

Most recent equifax score from this site is  734 as of today

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They obviously determined that with your high limits, you and your DW have become a risky customer because of the analytics that Equifax uses. Hopefully someone at GE will come to their senses and continue their relationship with you...

[Ron1]

Sorry about what happened to OP. I heard about a lot of threads about closing GE accounts when applying too many within a short period of time. I have alot of FE accounts myself. They almost closed all my GE accounts when I asked for CLI for Old Navy Visa few months ago. I didn't go after every GE accounts they have. I know it is impossible to get every card.  GE cards are easier to get than others. So I have good number of GE cards.  Some of them are useful.

Ron.

[patrick00032001]

You have nailed it! Most banks and credit unions are sold on the idea of Bankruptcy scoring, take DCU for instance, they use a Navigator 3.0 BK scoring model right along side with Beacon 5.0 FICO scoring model, what navigator gives them the ability to do is predict what your chances are of either A defaulting on the loan or line of credit, or having a bankruptcy with in the next 24 months! They have taken analytical data and compiled it into a scoring range of 0-300, obviously, lower scores equals more risk, so even though you may have whats considered an acceptable FICO score, given the amount of data, such as new trades, recent inquires or even a few lates, could considerably affect your navigator score and give a lender a reason to either counter with less favorable terms, or decline the loan all together! Thats why DCU softs everyones EQ file monthly, sure its to offer a free credit score, buts its also a form of risk management for them. Same with Elan Financial and US Bank, they use an IDA report to track how many Visa applications have been submitted in your name, its just another form of risk management.