GE CLI Denial INfo

[capitalkid]

OK for those with GE accounts following the transition to Synchrony Bank,  

I have something to report for CLI purposes. 

1.JCP Card , Age 3.5 Years, 

a Typical CLI denial looks like this: (for those who pull the button too early)

"We have reviewed your request credit line increase however are unable to approve you at this time due to insufficient experience at your current credit limit"  

My last CLI w/JCP was on Jan 2 2014.  It is well over the allotted time and have aged more than 5 statements now, so on June 11 I REQ CLI on my account.  This is the notice I received which is not typical of GE, and may be indicative of the new way things will be handled.  Maybe not, but thought it would be worth mentioning.  Here is todays mailer:

"As of June 2 2014 GECRB is now Synchrony.  We received your request for a credit line increase, however after an account review we are unable to increase your credit at this time.The reasons below indicate credit characteristics where you did not score well in relation to other customers:

1.Derogatory Public Record

2.Lack of recent installment loan

3. Length of  time accounts established

4.Too many INQ last 12 months.  

I have added a few accounts in 2014, (Jan CSP/June CHEV Visa) however, that previously has never had an effect on any GE accounts.  My BK is now post 9 years to this month, and has always been there, my AAOA is 1.5 (new accounts).  The score they gave me for the internal soft on TU was 696. Util is 9% overall and about 1% on JCP, no I dont buy cars on time, and the house is PIF, so no Inst loans for us,  for data points.  Oldest account 8 years.  

What this tells me is that maybe this new division may practice more scrutiny when it comes to BK people.  Which is a bummer if it starts to trend this way because GE has been a good builder for those post BK.  They have to pick a certain number of reasons for denial and usually the first one is the reason and the following reasons are in addtion to so they can generate paperwork, sometimes people get those reasons when there is no connection at all, they just have to have them to kick it out.  

So, this might be noteworthy, maybe I am the only one for now, just thought it would be benificial to get it out there.  

[09Lexie]

As I suspected, GE/Synchrony will give post bk applicants a second chance by approving the TL but may not be as forgiving on CLI's. I know you mentioned this letter is more detailed but it appears (from other users) that they have been toeing this line for awhile now. 

The detailed reasons will be better than the old standby denials. 

[capitalkid]

I have to agree, my husband (no BK) gets higher CL approvals and no issues with CLI's (GE) so far(except his Chevron card which is at Maxx growth @ 2500.00, or so they told us )  .  I have a lower approved CL, steady with CLI's and until now I have been growing, at however a steady pace.  I do wonder though how this new Banking will proceed.  It may very well be I am at Max threshold for this account, maybe JCP does not go above 6500, I guess I could call and ask .... 

I was successful this week in bringing PP MC up to 6K (1500 increase) and Lowes to 8.5 from 6.7, so it could also be tied to the store not only an underwriter thing.  But Def something to watch for as far an overall trend goes. 

BK is SO hard to have reporting, there is so much stigma associated with it,  and having companies like GE to go to post CapOne ect...make credit a more enriching experience for all.  People like to learn about credit when they are actually seeing progress.   They become more disciplined with progress as well they feel more accomplished with each growth spurt.  

So we'll see what happens, my best hope is that if CLI's are dampened , that it be short term, a cooling off period in between the internal changes, and it finds it s way back to normal pace of things that support those inching up the ladder, who were not born into good credit.  (there are people who are totally grandfathered in and never had to work for it . I had roomates like this years ago, I could not believe how they had it made in the shade. While I am rolling quarters for gas money to get to work because it is 2 days before payday)  Thats who these companies serve, hopefully that wont be lost.

Cheers. 

[SunriseEarth]

That actually looks just like the letters I get when I get denied for a CLI through Credit Solutions.  Looks like business as usual to me.

JCP seems to max out around $7500 for the LUV button CLIs, although auto-LUV and Credit Solutions can take the CLs above this.  However, those are people a bit further into the 700s.

TBH, I think the OP has hit the max for the CLs they'll offer at the high 600s.

[TRC_WA]

As Lexie and I talked about the other day... I'm probably at my max with GE as well. My 4 accounts are 8-10 months old and with the exception of a $100 auto CLI from Walmart I haven't got anything but repeated denials.

It doesn't help that TU is my lowest score but regardless I am done asking for CLI's.

Other lenders have shown me lots of love but for whatever reason GE won't.

I guess it's the $9200 in CLs.

BTW my denials are the same cookie cutter letter the OP posted.

[IWOL]

OP.....you said it's been 5 statements since your last CLI but did 5 statements actually cut. if you have no activity GE does not issue a statement for the month and then. I don't think that month counts against the 4 month rule.

ive still been getting steady increases since GE changed to Synchrony. Recently got my Chevron upped to $3k, Smart Coonect to $4k and AE to $2.5K.

On the most recent increases I tried the love button and got the "we are unable to prices your request online" with a denial letter a week later stating." not enough time at the current credit limit"

i then then called credit solutions and got 3 increases.

i think it is always better to call rather then use the luv button.

[capitalkid]

First off , Thank you for the replies, this is helpful board!  

Although 5 billing cycles have rolled out I have not had 5 actual statements cut, more like 3-4.  That could contribute definitely.  

My YTD spend is a little over 500$, my spending trend is down from last year but I keep it alive with RX purchases at Rite aid for hubby.  I buy school clothes in Sept and Jan and my jeans when I need them. various sundries, my running tally last year was around 300 or more a month, now i am down to 200$.  So that may have an effect as well.  

@6500$ my actual amount I can spend, sticking with 30%, is 1950$.  That is sufficient for anything that may come up home wise clothes wise ect.. I have always efforted to stay in the 30% zone with my accounts.   JCP sells Beds too, and I have looked at that, any good set would use 30% easy.  So I try and keep in mind what I am looking at for the future and try to build up to that so its there when/If we need it.  I really like this card alot, we use it for so much!

I am done with CLI's until fall, BK falls off next June so I think I will bump up after its gone.  

I had paypal deny CLI req per phone auto line, and approve via calling credit solutions same day, so maybe they want a call from here on out.  

I do the best I can do with what I have without pushing the limits, and in all the time I have had the JCP card I have not called in 1 time to raise the limit.  

My CS has always hovered 685-710 since I started keeping track.  Never rolls outside those perimeters.  I sat with 5 subprime cards for over 5 years and never knew they'd never grow until I found this board.  It took about 5 days of reading on this board and I realized I had been waiting for progress that was never to come.  I have been playing catch up ever since.  

Thank you all some good points to consider.  

[SunriseEarth]

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@capitalkid wrote:

First off , Thank you for the replies, this is helpful board!  

Although 5 billing cycles have rolled out I have not had 5 actual statements cut, more like 3-4.  That could contribute definitely.  

My YTD spend is a little over 500$, my spending trend is down from last year but I keep it alive with RX purchases at Rite aid for hubby.  I buy school clothes in Sept and Jan and my jeans when I need them. various sundries, my running tally last year was around 300 or more a month, now i am down to 200$.  So that may have an effect as well.  

@6500$ my actual amount I can spend, sticking with 30%, is 1950$.  That is sufficient for anything that may come up home wise clothes wise ect.. I have always efforted to stay in the 30% zone with my accounts.   JCP sells Beds too, and I have looked at that, any good set would use 30% easy.  So I try and keep in mind what I am looking at for the future and try to build up to that so its there when/If we need it.  I really like this card alot, we use it for so much!

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It's been a very useful card to me, as well.  I also used mine frequently at CVS and Rite Aid, mainly putting through things like toiletries and other household items that I used to typically get at Target or Wal-Mart (that dropped off a lot once I got a Target card).   It's too bad that CVS won't take JCP after July, but at least Rite Aid still works.   Anyway, JCP was my first preapproval with no AF in my current rebuild.   It was also my first card to hit a 4 digit CL in my rebuild.  It's been very valuable to me, so I'm glad it's been useful for you, too.

Anyway, if you do decided to get a bed at JCP, I'd definitely call Credit Solutions and see if they can make the CL budge.  

[jim44]

@ Capitalkid..... Wish I would have noticed your post sooner.... thanks for the words of encouragement post BK... I'm four years out and seeing the ding on my score become less and less each year.  GE has been good to me... had JCP and Sams Discover IIBK, JCP was less than $200 balance, however I was current on all cards prior to filing. Saw a nice couch I wanted at JCP, applied and was given a $500 limit at the store. I wanted a CL for the full price to take advantage of the no interest, the store salesperson knew to call credit solutions to bump my CL to $1k.  My first CC statement from them charged interest and a call to GE customer service straighted it out right away, gave me credit on the interest charged and an extra month on the no interest timeline.

I never use the luv button on any GE card.. always call Credit Solutions. Hope this new company will continue to be BK friendly. I agree with the fact that BK has a bad stigma but maybe not as bad especially during the recession. We beat ourselves up enough about it. Glad to hear your BK drops off soon and good luck in the future.