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Established Member
AprilShowers4
Posts: 21
Registered: ‎06-05-2012
0

GE Will Not Increase Credit Line :/

Hi everyone :smileyvery-happy:

I have a question. I have had my wal mart credit card for 6 statements now and they will not give me a credit line increase? I hit the love button online but they mailed me a letter saying I have high utilization and derogatory accounts. I feel like this, you approved me with derogatory accounts and public record so why is it a problem now? I am going to work on getting my utilization lower, I had been having financial issues and used the card to buy grocery, fuel up my car, etc.


Starting Score: 635
Current Score: 644
Goal Score: 700


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Senior Contributor
jsucool76
Posts: 3,853
Registered: ‎12-11-2011
0

Re: GE Will Not Increase Credit Line :/

Stupid cell phone. Sorry about that.

High util mixed with derogs looks risky from an underwriting perspective. Sure they gave you a card, but the more they increase your line the more at risk you are.

You could always try calling up the number in the backdoor number thread and talking to an UW, it will still be a soft pull. Work on getting your util down and try again.
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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: GE Will Not Increase Credit Line :/

I agree with calling U/W, I don't think the derogs will keep you from getting a CLI but that combined with high UTIL easily can.  You said you were having financial issues; the lender can see that in your credit profile and doesn't want to take the risk.  Put some time between you and the financial issues and I don't think you'll have a problem. Good luck!

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
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Valued Contributor
dodgerslv
Posts: 1,842
Registered: ‎06-16-2012
0

Re: GE Will Not Increase Credit Line :/


AprilShowers4 wrote:

Hi everyone :smileyvery-happy:

I have a question. I have had my wal mart credit card for 6 statements now and they will not give me a credit line increase? I hit the love button online but they mailed me a letter saying I have high utilization and derogatory accounts. I feel like this, you approved me with derogatory accounts and public record so why is it a problem now? I am going to work on getting my utilization lower, I had been having financial issues and used the card to buy grocery, fuel up my car, etc.


I agree that you should focus on bringing your utilization down...are you always close to the limit on your Walmart card or do you PIF at times?...I had the same problem with my Chevron/Texaco card (from GE also). I requested a CLI after having the card 5 months and was declined, I usually kept the card close to the limit because i was traveling alot...I joined the forums here and with the help of everyones input, they said the best thing is to PIF and keep a very low balance, i did that for the next 2 months on the card and what do you know, next time i called i got an increase easily. Hope this helps.


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Regular Contributor
snsforever916
Posts: 144
Registered: ‎06-28-2012
0

Re: GE Will Not Increase Credit Line :/

I was also approved with derogatory chargeoffs but I have learned that I am able to get increases if I pay them in full every month, keep my uti under 20% and only have one card reporting. High UTI is a killer for any credit agency. Pay it down and honestly you shouldn't want to raise your limits until you can successfully manage and pay off your cards at the lower limits. This is how people get in trouble! Especially with store cards! :smileyhappy: Been there, done that!

Starting Scores:
Lender Pull 7/10/2012 EQ 585 EX 617 TU 551
8/2012 MyFico EX 598 01/2013 EX 608 2/2013 EX 620 :smileysurprised:)
9/12/2012 624 (Fico Discover)
02/7/2013 660 (Fico Wally)
At least I'm heading in the right direction!!!

Goal Score:740+, home loan and Get rid of subprime cards!!!



Epic Contributor
Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
0

Re: GE Will Not Increase Credit Line :/

In my experience GE does not much care about "certain derogs and util" to be approved but then Util. with other creditors and even more so with GE they will NOT move your credit line almost ever until you get it down... 

Since 12/2011 till now I added about 6-8 GE cards... I have only gotten 1 $500 CLI on Lowes back in I think June... then some things started to go down hill but GE would never give me cli because of util. even through underwriting... I would call underwriting though and give it a try, but if you are 80%+ using your current CL not so sure, but at least they will pull a FRESH SP vs. when you do it online or with CSR they just click button and the computer uses the last report it has, sometimes as much as 60-90 days old!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: GE Will Not Increase Credit Line :/

say you borrowed money from your friend, would another friend lend you more money if they know you haven't paid back your other friend yet? probably not. No matter how you made payments on time or not does not matter if balances you still owe are high. Credit cards are not much different than borrowing from a friend, only difference is friends can give you 0% apr lol or if they choose to be bastards they'll charge you much more than credit cards. $5 on $100 for 1 month is 60% APR lol 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
ezef3ar
Posts: 105
Registered: ‎09-15-2012
0

Re: GE Will Not Increase Credit Line :/

Aprilshowers4 I don't wanna be a **bleep** about it
But I already got my third increase in 2 months with the Walmart card start it at 600 and currently 1500. I got the latest one today :smileyhappy: I call them cuz my credit line wasn't enough for the tv I want..... since they offering the special financing for electronics why not :smileyhappy:. And she approve me for 1500$. I want it 2000$ so I took the offer lol :smileyhappy:.
Valued Contributor
j_casteel
Posts: 1,918
Registered: ‎06-21-2012
0

Re: GE Will Not Increase Credit Line :/

[ Edited ]

mines been stuck since i've gotten it as well. 

 

i just get the reason "not sufficient experience at current limit" or whatever. I guess it will just take a bit more time. It has reported for 4mths but i think i've only just had 3 statements technically. so i'll wait a bit longer before worrying too much. 

 

EDIT* Just checked...it has reported for 4mths now, but I've actually only had 2 statements it looks like. Maybe thats the reason? I dunno, my score has came up 70pts since getting the card, I PIF, and have low UTI. 

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4.5k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Established Contributor
kobe2012
Posts: 697
Registered: ‎03-16-2012
0

Re: GE Will Not Increase Credit Line :/


AprilShowers4 wrote:

Hi everyone :smileyvery-happy:

I have a question. I have had my wal mart credit card for 6 statements now and they will not give me a credit line increase? I hit the love button online but they mailed me a letter saying I have high utilization and derogatory accounts. I feel like this, you approved me with derogatory accounts and public record so why is it a problem now? I am going to work on getting my utilization lower, I had been having financial issues and used the card to buy grocery, fuel up my car, etc.


Dont worry, it will grow in time... I got rejected so many times on my walmart card.... I mustve requested 5 times or more this past month... i think they know who i am cause when i called twice last week, they told me i just recently requested and i should wait til my credit gets better...lol...im finally stopping cause i think am annoying them too much... My walmart starting limit $500 and chevron $400 were opened May of this year and gap initial limit $200 was opened last July...as you can see, they grew quickly in the last 5 months.. Be patient.. cause i am learning to be 


Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk




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