Reply
Established Contributor
snowkitty
Posts: 979
Registered: ‎09-10-2012

Re: No LUV from GE....what am I doing wrong?

I'm thinking the biggest factor is how new all of my cards are. I mean, I do think it's weird that they are offering me other cards so they must be open to me having more money. But maybe me showing balances on almost all of my cards is scaring them. It's obvious on my credit reports that I pay in full each month because the prior balance and actual payment amount are the same. They can also see in their records that I pif. I don't really know what all they look at and how much they look into it. I wish I had not gotten the same rep both times. It seems like the same 3 people answer that phone at that number.

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 7.5k | Boa Travel 9k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 13.5k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: No LUV from GE....what am I doing wrong?

It is highly unrealistic for you to expect to get multiple increases when you only have four months of history. That is a very, very short time and they most likely just want to see more history with the accounts you have. I know waiting is hard, but it is the best way to get the limits that you want.

Established Contributor
snowkitty
Posts: 979
Registered: ‎09-10-2012

Re: No LUV from GE....what am I doing wrong?


navigatethis12 wrote:

It is highly unrealistic for you to expect to get multiple increases when you only have four months of history. That is a very, very short time and they most likely just want to see more history with the accounts you have. I know waiting is hard, but it is the best way to get the limits that you want.


I only have 4 months of history with the credit cards....my credit history goes back to 1992. I have a paid off mortgage and car loan and then nothing in between. I think they are ignoring those older accounts since they are different forms of credit. One of their reasons on the letter was "no current installment loans". After I paid off all my accounts and started paying cash for everything, I thought it was a good thing. I never realized how much it would affect my credit until this year. I'm now seeing that no credit is just as bad as bad credit.

 

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 7.5k | Boa Travel 9k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 13.5k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: No LUV from GE....what am I doing wrong?


snowkitty wrote:


I only have 4 months of history with the credit cards....my credit history goes back to 1992. I have a paid off mortgage and car loan and then nothing in between. I think they are ignoring those older accounts since they are different forms of credit. One of their reasons on the letter was "no current installment loans". After I paid off all my accounts and started paying cash for everything, I thought it was a good thing. I never realized how much it would affect my credit until this year. I'm now seeing that no credit is just as bad as bad credit.

 


Okay. I apologise for misunderstanding the situation. The no installment loans thing is something I occasionally see and I ignore it. I refuse to get a loan when I do not need one, and when talking to a human they do not even mention it. You are right that those are different forms of credit and most likely why they are hesitant. I obviously can not be sure why they are not increasing, but I would just say wait a month or two. I have spoken to an underwriter twice (weirdly it was the same woman) and got the increases a month between each other, so not enough time at current limit is not the problem. Have you tried ringing customer service first and then have them transfer you? That is what I do and maybe you would get someone different.

Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012

Re: No LUV from GE....what am I doing wrong?


snowkitty wrote:

navigatethis12 wrote:

It is highly unrealistic for you to expect to get multiple increases when you only have four months of history. That is a very, very short time and they most likely just want to see more history with the accounts you have. I know waiting is hard, but it is the best way to get the limits that you want.


I only have 4 months of history with the credit cards....my credit history goes back to 1992. I have a paid off mortgage and car loan and then nothing in between. I think they are ignoring those older accounts since they are different forms of credit. One of their reasons on the letter was "no current installment loans". After I paid off all my accounts and started paying cash for everything, I thought it was a good thing. I never realized how much it would affect my credit until this year. I'm now seeing that no credit is just as bad as bad credit.

 


First, they aren't ignoring your old credit because it is old, they are ignoring it because it is secured debt (home and car). Your experienced with unsecured debt is 4 months old. In those four months, you have added a ton of cards and except for October, have asked for CLI every single month since. Four months isn't enough time to "prove" that you pif. Your denials have nothing to do with carrying a balance, pif, etc. they have everything to do with your adding a bunch of cards to a very thin file in a short period of time. 

If you really want your credit to grow, you need to stop applying for new cards, stop asking for CLI and just use the cards responsibly for a year. You are trying to achieve in months something that takes years to establish. Don't be led astray by the 22 year olds that go from zero to 60 in a week. They are in a different bucket than you and are evaluated by credit issuers using completely different criteria than you (since you have an older, but thin, file). Just chill. It will fix itself with time.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Moderator
09Lexie
Posts: 24,119
Registered: ‎09-13-2012

Re: No LUV from GE....what am I doing wrong?


snowkitty wrote:

navigatethis12 wrote:

It is highly unrealistic for you to expect to get multiple increases when you only have four months of history. That is a very, very short time and they most likely just want to see more history with the accounts you have. I know waiting is hard, but it is the best way to get the limits that you want.


I only have 4 months of history with the credit cards....my credit history goes back to 1992. I have a paid off mortgage and car loan and then nothing in between. I think they are ignoring those older accounts since they are different forms of credit. One of their reasons on the letter was "no current installment loans". After I paid off all my accounts and started paying cash for everything, I thought it was a good thing. I never realized how much it would affect my credit until this year. I'm now seeing that no credit is just as bad as bad credit.

 


OMG! I thought I was reading ' my story'. My credit goes back to 1985, I have a paid mortgage, car and student loans and after 2004 ZIP- Nada.  So, I purchased a car in April (Chase) no problem but got the itch to apply for revolvers and was rejected - hard.  This September, I turned to GE- cards and was happy to be approved (2 in Sept and 2 in Oct).  I  tried different methods.  I used 2 cars and let a sm balance report. I also tried PIF on 1 card while keeping a sm bal on 1 card. I even tried paying double the minimum balance.  At no time did I have balances report on all cards.  I know I was shy 1 month of the ' fourth statement rule' but I tried unsuccessfully to get CLI on 2 of my oldest cards for Black Friday- also my util was never higher than 4%. 

 

My letters said 'insufficient experience at your current credit limit' and 'too few accounts currently paid as agreed'.  I read them as allow them to 'season and keep up the good work' .   Although it is mystifying how others have reported CLI's before the 4th statement or obtaining huge increases in a short time- I am happy for them .  I will leave well enough alone and wait for my increase....when it comes it comes.  :smileyfrustrated:

 

Valued Contributor
rootpooty
Posts: 1,690
Registered: ‎10-28-2011

Re: No LUV from GE....what am I doing wrong?

Op could you pm me the number you are calling. I've tried to call but keep getting the automated line. Thanks
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Moderator
09Lexie
Posts: 24,119
Registered: ‎09-13-2012

Re: No LUV from GE....what am I doing wrong?

[ Edited ]

09Lexie wrote:

snowkitty wrote:

navigatethis12 wrote:

It is highly unrealistic for you to expect to get multiple increases when you only have four months of history. That is a very, very short time and they most likely just want to see more history with the accounts you have. I know waiting is hard, but it is the best way to get the limits that you want.


I only have 4 months of history with the credit cards....my credit history goes back to 1992. I have a paid off mortgage and car loan and then nothing in between. I think they are ignoring those older accounts since they are different forms of credit. One of their reasons on the letter was "no current installment loans". After I paid off all my accounts and started paying cash for everything, I thought it was a good thing. I never realized how much it would affect my credit until this year. I'm now seeing that no credit is just as bad as bad credit.

 


OMG! I thought I was reading ' my story'. My credit goes back to 1985, I have a paid mortgage, car and student loans and after 2004 ZIP- Nada.  So, I purchased a car in April (Chase) no problem but got the itch to apply for revolvers and was rejected - hard.  This September, I turned to GE- cards and was happy to be approved (2 in Sept and 2 in Oct).  I  tried different methods.  I used 2 cars and let a sm balance report. I also tried PIF on 1 card while keeping a sm bal on 1 card. I even tried paying double the minimum balance.  At no time did I have balances report on all cards.  I know I was shy 1 month of the ' fourth statement rule' but I tried unsuccessfully to get CLI on 2 of my oldest cards for Black Friday- also my util was never higher than 4%. 

 

My letters said 'insufficient experience at your current credit limit' and 'too few accounts currently paid as agreed'.  I read them as allow them to 'season and keep up the good work' .   Although it is mystifying how others have reported CLI's before the 4th statement or obtaining huge increases in a short time- I am happy for them .  I will leave well enough alone and wait for my increase....when it comes it comes.  :smileyfrustrated:

 


Ha! Just logged into Walmart to pay my bill and noticed a $100 CLI! I know it's small but since I didn't ask for it I am happy. Just a side note no change for Penneys and received that card first.

New Contributor
haiti222
Posts: 68
Registered: ‎08-22-2007

Re: No LUV from GE....what am I doing wrong?

Time is what will get you increases. Also, I think by asking for the small increases initially, you will have delayed getting your next increase for a little while. It's frustrating, but that is how GE can be. Yes, some people can call underwriting and get an increase on some cards, but other times they will not budge. This happened to my Sam's Discover. They dropped it when the financial crisis hit, and were often very resistant to any CLI, except on their unpredictable timetable. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+