Credit Card Center Advertiser Disclosure†
06-17-2008 05:50 AM
06-17-2008 05:56 AM
MsMS wrote:I just got a fancy computerized embroidery machine- the store offered "financing" by way of a GEMB credit card. 36 months, no interest- not bad at all!Well, the opening balance was $8082, and the limit was $8100 when I got my first statement. (Yes, the sewing machine cost more than my husband's car. It's for our business, hopefully it should more than pay for itself.) They didn't mention the credit limit at the store; you're basically expected to only use it to finance the machine. I wasn't happy about that. I've been working on getting my util. down, and this card started at 99.78% maxed.I was happy with GEMB's customer service, though- the first lady I talked to either a: didn't understand about how credit limit to balance ratio affected FICO scores, or b: wasn't authorized to give CLI's- and she transferred me quickly to another lady who not only understood, but was able to give me a $1500 CLI. She even said it should be a soft inquiry, when I asked if it would be a hard or soft inquiry. That should bring it down to 84.19% util., and get my overall util. back under 50%.As long as that store doesn't go out of business any time soon, I might have to hang on to that card! I'll need needles, thread, and stabilizer anyway...-MsMS
06-17-2008 08:19 AM
06-17-2008 06:22 PM
06-18-2008 06:10 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.