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

[HeilFico]

I think maiden is on to something. I love my ridiculous GE limits, but come on....lol

Really not needed.

[maiden_girl]

LOL seriously. Someone on this board has a 30k Lowes card and I know it...haha

[SunriseEarth]

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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!)

[lajntx]

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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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So it`s "abuse" when people make use of the secret back door with GE, and it`s not when they use Capital One EO to get higher lines?

People probably already have defaulted on them, and with GE looking to sell some of it`s portfolio having excessive potential debt exposures is making them bring that liability back to their likings. I`m sure Capital One will start doing this soon just like every other credit product that people on here have figured the cracks in the system and learned how to manipulate it - Then TOO many people started doing it.

[maiden_girl]

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@lajntx 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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So it`s "abuse" when people make use of the secret back door with GE, and it`s not when they use Capital One EO to get higher lines?

People probably already have defaulted on them, and with GE looking to sell some of it`s portfolio having excessive potential debt exposures is making them bring that liability back to their likings. I`m sure Capital One will start doing this soon just like every other credit product that people on here have figured the cracks in the system and learned how to manipulate it - Then TOO many people started doing it.

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Are you post chasing me lajntx? How sweet

[09Lexie]

Guess I better delete Credit Solutions from my contacts.

[dddewdrop]

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@waiter wrote:

dddewdrop.

I posted that thread for me and my DW. the total credit limit from GE is around 160K for both combined. and the accounts were established over the course of three plus years, not overnight.

There is another poster who's have only one account with GE and its smart connect, that account was frozen for 90 days and the limit if i remember correctly was only 2400, the one and only account for 2400 ???  and GE will shut you down???

I belive it has more to do with other UNKNOWN factors only known to banks  and the robots who made this kinda software,than just the credit report, fico score and debt, utilization, and missing payment.

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Ya. i remember from your thread that you had established those accounts over a long period of time. Ii wasn't saying anything at all negative about you or your decision making. I hope you didnt take my comments the wrong way. i I was just making reference to your thread as being on a similar subject. i feel for you and I hope your situation gets resolved as soon as posslble. Good luck.

[dddewdrop]

    Is it abuse when people raise their Navy credit union CLs to the 20k mark? I don't think it is abuse. It is opening a door and walking through it. I do think that for me personally it doesn't make sense to have 200k in credit lines because  i wouldn't dream in a million years of even using 25k at one time. And if i did want to borrow 100k, there would probably be a better way to do so than on plastic. I do have experience in this matter. a certain 'friend" of mine, when he was younger ,im 42 now, got out of college, lied on applications, established 50k in credit and maxed it out to start an internet company that eventually went under. So learn from my , er i mean my "friend"s" mistake and don't get yourself in duck soup like that

[longtimelurker]

No, very little to do with credit cards is abuse if it is allowed by T&Cs and/or general practice.  The downside is that the issuers make the rules (up to complying with the law) and so can change them when too much what THEY consider to be abuse is detected.

So in at least some cases here, it appears that GE decided too much credit had been extended (by who, yes by them) and they impose a 90 day freeze to examine and correct the situation.   My guess is that any issuer with a reputation here for being very generous will either tighten up (like GE seems to be doing) or already have good controls in place (Amex).   So it wouldn't surprise me too much if NFCU went a similar route, they appear to be another with outside CLs as a matter of course!

[longtimelurker]

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@dddewdrop wrote:

 I do have experience in this matter. a certain 'friend" of mine, when he was younger ,im 42 now, got out of college, lied on applications, established 50k in credit and maxed it out to start an internet company that eventually went under. So learn from my , er i mean my "friend"s" mistake and don't get yourself in duck soup like that

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Right, but we only hear the negative stories here.   If the internet company your "friend" started had been Google, you probably wouldn't be on this forum.