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GM BuyPower CLI - Denied Recon

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DeeBee78
Valued Contributor

Re: GM BuyPower CLI - Denied Recon


@TRC_WA wrote:

@DeeBee78 wrote:



Dumb me app'd the card before reading all the comments on here. I should have known better. S'ok - didn't mess up my seedling Smiley Happy 


The new account resets your seedling... and you took the new account ding for it at any rate.  Closing the account isn't going to stop it from hitting your CR even if a preapproval didn't result in a HP.

 

Of course... if your 4/29/15 date in your sig is the day you accepted this card... then you are good in the eyes of the gardening community.  Smiley Wink

 

On a side note, if it were me I'd have kept the card for the above reasons.


It didn't kill my seedling. I app'd for it almost a month ago. 

 

I know it's going to show up on my credit report, but my AAoA is pretty much shot anyways. I'm in serious gardening mode now

Message 11 of 12
pipeguy
Senior Contributor

Re: GM BuyPower CLI - Denied Recon


@DeeBee78 wrote:

I app'd for this after receiving a preapproval in the mail about a month ago. Instant approval at a paltry $300 limit. 

 

I tried to request a CLI online, and got shot down. I immediately sent a secure message, advising them that the limit was far too low to be usable. I got a reply back, stating that I needed to wait until I received the card, then I could ask for a CLI. 

 

Went to check the mail today (I usually only check it once a month), and the card was there. After activation, I called the backdoor number and spoke to a very nice lady. I explained that the limit was far too low to be usable to me. She asked if it was OK to pull my credit report (soft pull) and I said yes.

 

Denied. 

 

I immediately closed the account. I don't know why I even app'd it. Just being greedy I guess. I don't even like American cars.

+1 Exactly what I would have done !
Now in truth I have a GM BuyPower card with a $10k CL (started at $5k, in 3 months was increased to $10k) and I like GM cars, but that being said I've closed a bunch of Cap-1 cards due to their lack of growth AND a Barclays card + a BoA card because of low limits or lack of growth - besides the Cadillac design rocks !  
Frankly I can not understand Cap-1 giving out mega limits to "average" score customers (no offense meant to those that scored, but 675 to 700 does not justify a $10k+ Starting Venture limit IMO), yet "approving" the GM card with $300 or $600 credit limits, makes no sense. I know that computer programs handled the aproval process and assign the credit limit, with tens (hundreds) of thousands of accounts it would be difficult if not impossble to look at each account one by one, but on a manual review saying yeah you are approved, but the CL is actually $300? Seriously?

 

Message 12 of 12
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