It finally came in the mail today. The letter I had been waiting on to explain to me why GE would give me such a useless limit. As some of you may know, I applied for a Kauffman Tire card issued by GE. They stuck me with a $500 limit. I then called and they bumped the limit up to $600 wich is still no where near what I needed. When you fill out an application for a store card issued through GE, they ask what the initial purchase amount is if known. I put $1000. That would be $800 for the tires and then a small buffer. The letter states:
We are unable to extend you credit limit to cover the full amount of the merchandise you have selected. However, we are willing to extend your credit limit to $600. Our decision was made based on the following reasons:
Requested amount exceeds bank's lending policy.
This confused me. When I saw my limit was not going to cover my new tires, my mom applied for one and got an initial limit of $1,600.
They pulled EQ and these are the typical reasons listed:
-Length of time accounts have been established. << I'll give them this. I'm 21. My oldest card is about 3.5 years old with a 1.5 AAoA
-Number of recent INQ << I'll agree there too. I had 4 on EQ. Too bad they don't pull TU, I have 0 there.
-Ratio of loan balance to original loan amount too high. << I disagree with this one. The only loan I have is a $3500 student loan and is labeled deferred on all reports.
-Number of bank revolving accounts with balance too high. << My sapphire card reported a $230 balance with a 5k limit. The only card reporting a balance.
And finally. My score has gone up by 1 point. 
I'm at 719 on EQ.
@mmduluth wrote:It finally came in the mail today. The letter I had been waiting on to explain to me why GE would give me such a useless limit. As some of you may know, I applied for a Kauffman Tire card issued by GE. They stuck me with a $500 limit. I then called and they bumped the limit up to $600 wich is still no where near what I needed. When you fill out an application for a store card issued through GE, they ask what the initial purchase amount is if known. I put $1000. That would be $800 for the tires and then a small buffer. The letter states:
We are unable to extend you credit limit to cover the full amount of the merchandise you have selected. However, we are willing to extend your credit limit to $600. Our decision was made based on the following reasons:
Requested amount exceeds bank's lending policy.
This confused me. When I saw my limit was not going to cover my new tires, my mom applied for one and got an initial limit of $1,600.
They pulled EQ and these are the typical reasons listed:
-Length of time accounts have been established. << I'll give them this. I'm 21. My oldest card is about 3.5 years old with a 1.5 AAoA
-Number of recent INQ << I'll agree there too. I had 4 on EQ. Too bad they don't pull TU, I have 0 there.
-Ratio of loan balance to original loan amount too high. << I disagree with this one. The only loan I have is a $3500 student loan and is labeled deferred on all reports.
-Number of bank revolving accounts with balance too high. << My sapphire card reported a $230 balance with a 5k limit. The only card reporting a balance.
And finally. My score has gone up by 1 point.
Sorry to hear 
GE is quirky too sometimes, it took me the longest time to get a CLI on any of my accounts!!!
