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
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