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GEMB cuts?

Regular Contributor

GEMB cuts?

Today's Wall Street Journal page B1 headline:
GE Cuts Outlook Plans to Shrink Credit Unit
 
<quote>
Consumer delinquencies, which mostly affect GE's credit-card operations are "running into levels of some of the worst economic periods that we have seen," Mr. Sherin [Chief Financial Officer Keith Sherin] said. He said GE won't be able to sell its $30 billion U.S. private-label credit-card business in the near future, as planned, and will have to boost provisions for the business.
</quote>
Message 1 of 14
13 REPLIES
Valued Contributor

Re: GEMB cuts?

Is GE Money Bank next to go down the drain.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 2 of 14
Established Contributor

Re: GEMB cuts?

No wonder they didn't reply to my RECON for a Chevron card.... bummer for them, I would have been one of their good customers. Not one of "The Delinquents" Smiley Tongue
____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Message 3 of 14
Established Contributor

Re: GEMB cuts?

You know what? Screw this. I'm cancelling my GEMB GAP card. A $200 CL with a FICO score of 731 is BS. I'm even tempted to max it out and never pay it again...

With stingy CLs and terrible CSRs, this is definitely karma coming back to bite them in the buttocks.

Message Edited by jaybird201 on 09-26-2008 08:47 PM
Message 4 of 14
Valued Contributor

Re: GEMB cuts?



jaybird201 wrote:
I'm even tempted to max it out and never pay it again...


Well don't do that an hurt your score lol. If anything pay it off an close it how long have u had the card.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 5 of 14
Established Contributor

Re: GEMB cuts?



mjbfan79 wrote:


jaybird201 wrote:
I'm even tempted to max it out and never pay it again...


Well don't do that an hurt your score lol. If anything pay it off an close it how long have u had the card.





Haha, oh, I would never do that. The empty threats make me feel better sometimes.

I called, thinking that they might put up a fight to try to keep a customer...Nope. The automated teller system did it for me.

Robot lady: "Would you like to cancel your card? Say yes or no"
Me: "Would you like to give me a credit limit increase?"
Robot lady: "Invalid response, please say yes or no"
Me: "YES! I HATE YOU! THROW ME A FREAKING CLI BONE AND SOME GOOD OLD FASHIONED CUSTOMER SERVICE! *click*" Smiley Mad
Message 6 of 14
Established Contributor

Re: GEMB cuts?


 

 



Haha, oh, I would never do that. The empty threats make me feel better sometimes.

I called, thinking that they might put up a fight to try to keep a customer...Nope. The automated teller system did it for me.

Robot lady: "Would you like to cancel your card? Say yes or no"
Me: "Would you like to give me a credit limit increase?"
Robot lady: "Invalid response, please say yes or no"
Me: "YES! I HATE YOU! THROW ME A FREAKING CLI BONE AND SOME GOOD OLD FASHIONED CUSTOMER SERVICE! *click*" Smiley Mad

Thats soooooo funny i needed that laugh today.
Message 7 of 14
Frequent Contributor

Re: GEMB cuts?

WOW THAT'S  REALLY SCARY . ANYWAY I HAVE SEVERAL ACCOUNTS WITH THEM .
SO I WENT ONLINE TRYING TO GET CLI FROM:
(1) MERVYENS FINALLY INCREASED MY CL AFTER 11 MONTHS WITH THEM SO IT WENT FROM $300 TO $450CL Smiley Indifferent
(2) WAL-MART I BEEN WITH THEM SINCE 01-01-08 SO I GET INCREASED FROM $500CL TO $600CL Smiley Surprised
ANYWAY I AM HAPPY,AND IT'S BETTER THEN NOTHING.
I THOUGHT I MIGHT GET BETTER INCREASED THEN THAT,BUT I REMEMBER THIS GEMB,AND THE REST OF MY ACCOUNTS I HAVE TO CALL THEM TO GET CLI .  WISH ME LUCK . Smiley Happy


Message Edited by creditdream on 09-27-2008 12:48 PM
Message 8 of 14
Established Contributor

Re: GEMB cuts?

For the Walmart you can get a CLI every three months as long as you use your card each month.  Of course also pay your bill on time.  I just charge a small amount to my card each month.  Then I mark on the calender to hit the CLI button.  I have been with them for about 1 1/2 years.  I just recently found out the the three month rule and that I have to use it every month. 
 
Last CLI was $150 before that it was $100.  Yeah it's not the best CLIs but hey at least they don't try to charge you like Orchard does.  Not the mention they don't charge a AF.
 
BTW when I talked to the rep about 5 months ago, she was the one that gave me the insight about the three months.  Wish I knew about it sooner and maybe my CL would be over $550.  Smiley Sad
Message 9 of 14
Established Member

Re: GEMB cuts?

does any one know the phone # for wal-marts credit department?
Message 10 of 14