Reply
Established Member
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


Take the FICO Fitness Challenge
Super Contributor
Posts: 5,267
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.
;
Valued Contributor
Posts: 1,228
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 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Valued Contributor
Posts: 2,020
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: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
Regular Contributor
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
Posts: 24,351
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- 670., TU 705 Sync, EX 700 (04/20/15)
I'm just trying to catch up to RON1
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
83 Cards and Counting :smileytongue:
Established Contributor
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
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
Posts: 1,922
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 $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | 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
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



Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.