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Senior Contributor
jsucool76
Posts: 3,662
Registered: ‎12-11-2011
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Re: Tested my GE Holiday theory with Lowe's CLI!


LesWH wrote:

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...

 


+1

 

That is like saying you need to celebrate halloween to eat candy xD 

Or christmas to eat candy canes

or channukah to eat potato latkes :smileytongue: 

 

>
Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
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Re: Tested my GE Holiday theory with Lowe's CLI!

True, but you also cant increase limits simply because of a holiday -- thats all I'm getting at. That would be against the equal credit opportunity act, I work as an underwriter for consumer credit and that would definitely be a regulatory issue. You can extend strategies for a more lenient policy; however, underwriters are judgmentally approving outside of strategy and their lending policies would not be changed simply because of a holiday or special sale.

Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
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Re: Tested my GE Holiday theory with Lowe's CLI!


AaroninOakland wrote:

True, but you also cant increase limits simply because of a holiday -- thats all I'm getting at. That would be against the equal credit opportunity act, I work as an underwriter for consumer credit and that would definitely be a regulatory issue. You can extend strategies for a more lenient policy; however, underwriters are judgmentally approving outside of strategy and their lending policies would not be changed simply because of a holiday or special sale.


They increase limits because they want people to spend.  People tend to spend more around holidays.....ergo, they increase limits around holidays...LMAO!  Relax, it's my theory.  I'm not saying anyone called me up and told me this as fact.

 


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Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
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Re: Tested my GE Holiday theory with Lowe's CLI!

As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.

Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
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Re: Tested my GE Holiday theory with Lowe's CLI!


AaroninOakland wrote:

As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.


If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes.  We all know that this is not true.  If you would like to believe that it is, have at it.  I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

 


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

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Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
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Re: Tested my GE Holiday theory with Lowe's CLI!


LesWH wrote:

AaroninOakland wrote:

As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.


If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes.  We all know that this is not true.  If you would like to believe that it is, have at it.  I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

 


lol, well... congrats on the increase. I work in underwriting for this company, so just trying to help out those who are gardening in the know about auto/cust initiated cli's with csrs versus those initiated with uw directly through the backdoor.

Established Contributor
colindidit
Posts: 665
Registered: ‎11-13-2012
0

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


AaroninOakland wrote:

LesWH wrote:

AaroninOakland wrote:

As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.


If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes.  We all know that this is not true.  If you would like to believe that it is, have at it.  I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

 


lol, well... congrats on the increase. I work in underwriting for this company, so just trying to help out those who are gardening in the know about auto/cust initiated cli's with csrs versus those initiated with uw directly through the backdoor.


Aaron do you think if I called Walmart  and spoke to someone it'd be a hard pull? I got aincrease on my GE Sony recently and I asked for 500 and i got 2500 and it was a hard pUll. 

Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
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Re: Tested my GE Holiday theory with Lowe's CLI!

Walmart cli's are soft. Sony is a different division and different policies exist.
Established Contributor
colindidit
Posts: 665
Registered: ‎11-13-2012
0

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

Even if I just had gotten one maybe two months earlier? And what number would icall

Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
0

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

[ Edited ]

Yep. Online cli tool on the website was back up again or you can call the back office # listed on the forum to go direct to underwriting. Good luck! Sent you a PM with the #.


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