Reply
Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Tested my GE Holiday theory with Lowe's CLI!

When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays.  I decided to test the theory with Lowe's since I just got my card in the mail today.  On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500.  Today after getting the card, I called the back door number for GE Money Bank.  I only asked for an additional $1,500, and they approved it no problem!  Now my Lowe's limit is $5,000.00 even.  Tis the Season!!!


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014






Valued Contributor
dodgerslv
Posts: 1,841
Registered: ‎06-16-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


LesWH wrote:

When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays.  I decided to test the theory with Lowe's since I just got my card in the mail today.  On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500.  Today after getting the card, I called the back door number for GE Money Bank.  I only asked for an additional $1,500, and they approved it no problem!  Now my Lowe's limit is $5,000.00 even.  Tis the Season!!!


Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
0

Re: Tested my GE Holiday theory with Lowe's CLI!

Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.

Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


dodgerslv wrote:

LesWH wrote:

When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays.  I decided to test the theory with Lowe's since I just got my card in the mail today.  On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500.  Today after getting the card, I called the back door number for GE Money Bank.  I only asked for an additional $1,500, and they approved it no problem!  Now my Lowe's limit is $5,000.00 even.  Tis the Season!!!


Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.


It's a soft pull, so nothing to lose at all. I say go for it!! I just got the Lowe's card in the mail today.  I went from 1,000 to 5,000 in less than a week!  Talk about growing quickly!!! GE cards are on steroids!!!

 


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014






Valued Contributor
dodgerslv
Posts: 1,841
Registered: ‎06-16-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


AaroninOakland wrote:

Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.


very true....when i requested an increase with the Chev/Tex gas card, i always carried a balance close to the limit every month (had the card for 7 months now) but that was because i used once a week and every time it was almost 100 to fill the thank (have a 400 limit). So maybe now since i stopped using it and PIF im debating if that will improve my chances this time around (plus it is the holidays...lol)


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


AaroninOakland wrote:

Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.


I'm fairly certain that if I simply used the online CLI button I would be denied because I have not had my cards long enough.  I used Walmart only once for a printer, and I have not used Lowe's at all.....

 


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014






Valued Contributor
dodgerslv
Posts: 1,841
Registered: ‎06-16-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


LesWH wrote:

dodgerslv wrote:

LesWH wrote:

When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays.  I decided to test the theory with Lowe's since I just got my card in the mail today.  On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500.  Today after getting the card, I called the back door number for GE Money Bank.  I only asked for an additional $1,500, and they approved it no problem!  Now my Lowe's limit is $5,000.00 even.  Tis the Season!!!


Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.


It's a soft pull, so nothing to lose at all. I say go for it!! I just got the Lowe's card in the mail today.  I went from 1,000 to 5,000 in less than a week!  Talk about growing quickly!!! GE cards are on steroids!!!

 


haha....it does seem they are being more generous and possibly lenient lately....I am definitely going to try with Dillards cuz i dont want to do some holiday shoppin there and 300 is not enough (plus it is my lowest tradeline limit out of all my cards). Hopefully they can match my 1000 limit on rival Macys card...hehe.


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
0

Re: Tested my GE Holiday theory with Lowe's CLI!

You should be ok. :-) If an underwriter reviews they are looking at lending policies 1.5x to 2x the current limit isnt going to be an issue.  

Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
0

Re: Tested my GE Holiday theory with Lowe's CLI!

Yea, within 30 days the online or with a csr cli will typically decline due to time at current limit. Thats simply a strategy review. A underwriter will review based upon lending guidelines.  All I meant was banks cant set specific lending guidelines because of the holidays -- that would mean they were discriminating against those who didnt celebrate that particular holiday. :-)

Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Re: Tested my GE Holiday theory with Lowe's CLI!


AaroninOakland wrote:

Yea, within 30 days the online or with a csr cli will typically decline due to time at current limit. Thats simply a strategy review. A underwriter will review based upon lending guidelines.  All I meant was banks cant set specific lending guidelines because of the holidays -- that would mean they were discriminating against those who didnt celebrate that particular holiday. :-)


You don't have to celebrate the holiday to take advantage of limit increases or whatever specials are offered...

 


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014







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+
}