GE and Equifax strikes again!!! Cards frozen!!

[awiser]

@09Lexie Do you know them all on a personal level by now? LOL.

I'm gonna try to not get spooked by their recent practices and keep in keeping on. However, I don't have the limits others have, either.

[awiser]

Couldn't they review the account and assess the situation without freezing the accounts? Locking up every account for 90 days seems a bit harsh. That alone seems like a punishment while they simply review...

[JonStur]

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@SunriseEarth wrote:

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@maiden_girl wrote:

GE is most likely catching on to CLI chasing due to credit solutions abuse. Sure a 15k limit at Walmart is nice to say you have but do you really need it? They probably are doing this as a precautionary measure to avoid having people default on their accounts.

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+1.   I am definitely grateful for GE in my rebuild, but business is business.

(edited - darn typos!)

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That would make sense... Maybe someone in finance decided that customers were beginning to overextend themselves through credit solutions.. And now it's time for a correction..

[enharu]

Seems like GE Capital is indeed clamping down. Probably trying to make their financials look better for the upcoming IPO.

[youngandcreditwrthy]

So they are making you wait 90 days? Isn't aa with no reason or provision of score illegal?!?
This makes me want to close my GE accts!

[longtimelurker]

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@youngandcreditwrthy wrote:
So they are making you wait 90 days? Isn't aa with no reason or provision of score illegal?!?
This makes me want to close my GE accts!

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Probably not illegal, unless it was for prohibited reasons (AA because of race, gender, vet status etc).   I'm sure all the T&Cs explain that your credit record can be evaluated at any time and the line reduced or account closed at the decision of the issuer.