12-06-2012 07:09 AM
I have opened all of my credit cards since August of this year and they are all in good standing and all are pif each month. I do let a balance hit and then I pay it off immediately. My Ulti right now is at 5%. I called GE after having my credit cards with them for less than a month and got a small cli on all 3 (did'nt have the Sams Discover at the time). I only got a small increase because that is all I asked for. I called back in November about getting another cli on my walmart card so I could take advantage of the 0% interest for Christmas. They turned me down and told me when I got the letter I could call them back. Ok, so I got the letter a few days ago and it said they could not do it because of several new accounts being opened in a short period of time, no current installment loans (I have a paid perfect mortgage & car loan that have been pif and closed for several years) and too many cards with balances. So I called them back this morning and told the csr what happened and she pulled my credit again. She said that they are unable to do it at this time and a letter would be sent. She said for me to get the letter, fix the problems and then call back for an increase. I told her that is what I am doing now and she said she could not tell me why but that it is not for the same reasons as last time. I freaked out a bit and pulled all 3 credit reports to make sure nothing was wrong and everything looks fine. My score is rising and everything is showing as pif and on time. I can understand about all the accounts I opened around the same time but I can't understand the other reasons they are saying and why they keep telling me to call back and then I get the same answer.
Am I messing up by letting a balance hit on my cards even though I pay them in full the very next day? Does everything need to show a 0 balance before asking for a cli? My score is going up so all is well....I just think I am missing something. I see others getting cli's with GE every couple of weeks and I know everyone's story is different, I just want to make sure I am doing this the right way. I am rebuilding credit because I have not had any credit for years.....been paying cash/debit for everything. I only have 1 baddie from 2008 and it was from a vet's office for 95.00 and I disputed it back in January....just disputed it again this morning. I paid in full at each time of service to the collection is 100% invalid.
12-06-2012 07:12 AM
Sorry....I forgot to add that GE has preapproved me for some of their other cards and I have declined them so I think it's weird they won't bump my cl but will give me other cards.
12-06-2012 07:13 AM
Three thing would fix the problem:
Hope it help"
12-06-2012 07:17 AM
Three thing would fix the problem:
- Call back door number.
- Only let one card report balance with less than 9%.
- Used your GE card and show them some activity.
Hope it help"
I did call the backdoor number....I keep getting the same csr.....lol
I use the heck out of my GE cards....in fact, my walmart card is the most used and I have a 0 balance on it now
I'm thinking I may need to do the "One card balance" thing. I didn't think I needed to if I had no intention of applying for credit but I am thinking that goes for cli's as well. I was just letting balances show to show that I am using the cards and paying them all in full.
12-06-2012 07:29 AM
12-06-2012 07:33 AM
Maybe your exposure with them is enough for now to them.
Do you mean as far as how much they have given me in credit from all 4 cards together? Like maybe, they only give a person so much credit as a whole?
12-06-2012 07:34 AM
same happened to me, I have had walmart for 3 years in august, and im at 1500 and rarely asked for a credit limit increase. I have a zero balance and asked for an increase and a recon and got denied both times,lol credit score in 660s with 23 percent util. Hang in there!!!
12-06-2012 07:36 AM
12-06-2012 07:41 AM
The reason will likely be 'not enough experience at your current credit limit'
12-06-2012 07:49 AM
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.