CLI for JC Penney!!!

[webhopper]

Here's the scoop...

I've had a JC Penney account that I opened in 2003 when I was in college, no lates...  Account was inactive, so they decreased my limit to $124. 

After reading the boards I decided to ask for a CLI since this is an older account. I want to bring it active again so that it can help my score. So the plan is to use the account to purchase a few things for a work conference, and pay all but $15 of the bill, and let the $15 roll to next month for payment.

I called, they wanted to know how much of an increase I wanted.  I told them $600 dollars, and they gave it to me after verifying my credit history, since the account has been inactive for so long.

So I get a new active account, backdated to 2003 with a 600 limit     Its my second oldest account, with the oldest being my Discover Card with a 4200 limit that I opened in 1999.

Yay for this board, Thanks for everyone who contributes to the knowlege here!

[tinuviel]

Congrats! Always nice to be able to keep age and (positive) history on your reports. Use the card periodically to keep it active -- doesn't have to be anything big -- and PIF if possible so as to avoid interest. Then, every four months you can request an increase and it will be a soft pull. Mine started out last April with a $200 CL, and I'm now up to $1800. Treat the card well, and GE will be good about increases.

[chan85]

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@webhopper wrote:

Here's the scoop...

I've had a JC Penney account that I opened in 2003 when I was in college, no lates...  Account was inactive, so they decreased my limit to $124. 

After reading the boards I decided to ask for a CLI since this is an older account. I want to bring it active again so that it can help my score. So the plan is to use the account to purchase a few things for a work conference, and pay all but $15 of the bill, and let the $15 roll to next month for payment.

I called, they wanted to know how much of an increase I wanted.  I told them $600 dollars, and they gave it to me after verifying my credit history, since the account has been inactive for so long.

So I get a new active account, backdated to 2003 with a 600 limit     Its my second oldest account, with the oldest being my Discover Card with a 4200 limit that I opened in 1999.

Yay for this board, Thanks for everyone who contributes to the knowlege here!

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Are you sure it's the same account and thus will be backdated on your reports? If so congrats!!

[webhopper]

Yes it's the same account! It's been reporting all this time, with just a real small limit.

[chan85]

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@webhopper wrote:
Yes it's the same account! It's been reporting all this time, with just a real small limit.

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Oh ok so it's not "backdated" like how amex does, but you got them to up the limit on an existing card- gotcha now! Congrats nonetheless!

[CS800]

Congrats !!

[Creditaddict]

2 Things:

1. Depending how long it has been inactive a CL of $124 from GE means it's been decreased for no other reason then non use and you can usually call and have the original CL put back in place "because you want to start spending money again!"

2. You do not need to roll ANY balance over to next month and pay interest on eit, you just need to have a balance at the time your statement was posted of less than 9% of your CL and then pay in full when it arrives, that will give you the update to credit showing you use the card very well!

[p-]

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@webhopper wrote:

Here's the scoop...

I've had a JC Penney account that I opened in 2003 when I was in college, no lates...  Account was inactive, so they decreased my limit to $124. 

After reading the boards I decided to ask for a CLI since this is an older account. I want to bring it active again so that it can help my score. So the plan is to use the account to purchase a few things for a work conference, and pay all but $15 of the bill, and let the $15 roll to next month for payment.

I called, they wanted to know how much of an increase I wanted.  I told them $600 dollars, and they gave it to me after verifying my credit history, since the account has been inactive for so long.

So I get a new active account, backdated to 2003 with a 600 limit     Its my second oldest account, with the oldest being my Discover Card with a 4200 limit that I opened in 1999.

Yay for this board, Thanks for everyone who contributes to the knowlege here!

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Penneys is great when it comes to CLI's and they are constantly sending out coupons and certificates.  But never let a balance sit, their interest rates are atrocious.

[webhopper]

Thanks for the advice!

What sort of behavior does a bank like in order to give out CLI's? Seems like I've never gotten very many. 

[LS2982]

I'm waiting until end of next month when my Util. is down to 2% and asking for a final CLI. If none, i'm axing the card. I'm tired of being overlooked with a $150 limit.