Wow. GE Capital obviously doesn’t know...

[annalog]

You might be surprised you are now $213 over your credit line.

[Gollum]

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@mmduluth wrote:

Hopefully Monday I can get them to raise it to something useable. Perhaps I would have gotten a higher limit if I apped in store or something. $500 is virtually useless for any tire purchase. Or even for general car repair unless you want it maxed out. I am going to see if I can get them to raise it to at least 1k. As it stands now I guess I am just going to take the money out of savings and have a new card just sitting there unused. 

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That may be the best thing to do anyway.  As far as I know, store credit cards usually have an interest rate in the range of  25%.  The average interest rate for all credit cards in the US is currently approx. 14%.  So the interest rate for a store credit card approaches twice as much as the average credit card.

Some example numbers:

$700 purchase at 25% interest means paying $14 per month just for interest, even if you don't pay anything on the principle ($700: the original loan amount).

If your financial situation allows you to pay upfront, you're better off doing so.

If you have not yet bought the tires, I recommend you subscribe for one year to Consumer Reports

http://www.consumerreports.org

so you have access to their tire test results, ratings, and recommendations.  I think it's $30 for a one year subscription.  I think that's a bargain when trying to decide which tire to buy, because the price for the same tire at different shops can vary greatly.  Shop around after you decide which tire you want.

[boomhower]

GE is good about CLI's and instant CLI's as well.  I was approved online for Lowes at $1500 and called minutes later and it was raised to $3k.  Although I do believe it varies on teh co-branding though.  Like Walmart cards are notorious for extremely low starting limits.

[LS2982]

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@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

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GE is normally good on CLI's and they are primarily SP's.

[mmduluth]

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@Gollum wrote:

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@mmduluth wrote:

Hopefully Monday I can get them to raise it to something useable. Perhaps I would have gotten a higher limit if I apped in store or something. $500 is virtually useless for any tire purchase. Or even for general car repair unless you want it maxed out. I am going to see if I can get them to raise it to at least 1k. As it stands now I guess I am just going to take the money out of savings and have a new card just sitting there unused. 

---

That may be the best thing to do anyway.  As far as I know, store credit cards usually have an interest rate in the range of  25%.  The average interest rate for all credit cards in the US is currently approx. 14%.  So the interest rate for a store credit card approaches twice as much as the average credit card.

Some example numbers:

$700 purchase at 25% interest means paying $14 per month just for interest, even if you don't pay anything on the principle ($700: the original loan amount).

If your financial situation allows you to pay upfront, you're better off doing so.

If you have not yet bought the tires, I recommend you subscribe for one year to Consumer Reports

http://www.consumerreports.org

so you have access to their tire test results, ratings, and recommendations.  I think it's $30 for a one year subscription.  I think that's a bargain when trying to decide which tire to buy, because the price for the same tire at different shops can vary greatly.  Shop around after you decide which tire you want.

---

It was for the 6 months no interest. I know some people don't like these deals but I always pay my cards on time so I don't have to worry about accrued interest. It basically allows me to keep the money I was going to spend in savings earning interest.

[mmduluth]

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@LS2982 wrote:

---

@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

---

GE is normally good on CLI's and they are primarily SP's.

---

This is good to know. At this point, I would be willing to have a hard pull done if it could get my CL up to AT LEAST 1k.

[LS2982]

---

@mmduluth wrote:

---

@LS2982 wrote:

---

@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

---

GE is normally good on CLI's and they are primarily SP's.

---

This is good to know. At this point, I would be willing to have a hard pull done if it could get my CL up to AT LEAST 1k.

---

Also, if no dice with GE try for a Firestone account. They give very nice starting limits. They are through CFNA.

[CreditCrusader]

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@LS2982 wrote:

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@mmduluth wrote:

---

@LS2982 wrote:

---

@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

---

GE is normally good on CLI's and they are primarily SP's.

---

This is good to know. At this point, I would be willing to have a hard pull done if it could get my CL up to AT LEAST 1k.

---

Also, if no dice with GE try for a Firestone account. They give very nice starting limits. They are through CFNA.

---

+1111111111...fat credit limits from CFNA/Firestone...and they can be used at Monroe's as well.

In addition, oil changes are $10 off at Firestone Complete every time...with an addition $5 off if you complete their phone survey from oil change to oil change.

[mmduluth]

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@LS2982 wrote:

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@mmduluth wrote:

---

@LS2982 wrote:

---

@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

---

GE is normally good on CLI's and they are primarily SP's.

---

This is good to know. At this point, I would be willing to have a hard pull done if it could get my CL up to AT LEAST 1k.

---

Also, if no dice with GE try for a Firestone account. They give very nice starting limits. They are through CFNA.

---

Wow I wish I would have known that. I was thinking that the firestone card was issued as a CarCare One card like Kauffman. 

[LS2982]

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@mmduluth wrote:

---

@LS2982 wrote:

---

@mmduluth wrote:

---

@LS2982 wrote:

---

@mmduluth wrote:

How much tires cost! I like to think I have a good credit history. No baddies ever and lots of primeness in my wallet. Do I have a few INQ's? Sure. About 3-4 on EQ and EX and 0 on TU. Shortish history? Sure. My oldest account is 3 years and some months. But a $500 CL?! Are you serious GE? I made the mistake of making the appointment to have my tires installed in the morning and then applied online for a Kauffman Tire credit card for the 6 months financing. My tires cost $713 total. I put the initial purchase amount as $800 and they give me $500. I'm a little upset to say the least. I called to see about an increase and the very rude (like I hate my job and I'm about to go on a killing spree kind of rude) lady said I had to call back Monday when my account would be set up in the system. Smh. Anyone know how bad (or good I guess) GE is on CLI's and weather or not they are soft or hard pulls?

---

GE is normally good on CLI's and they are primarily SP's.

---

This is good to know. At this point, I would be willing to have a hard pull done if it could get my CL up to AT LEAST 1k.

---

Also, if no dice with GE try for a Firestone account. They give very nice starting limits. They are through CFNA.

---

Wow I wish I would have known that. I was thinking that the firestone card was issued as a CarCare One card like Kauffman. 

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And they are actually very easy to get approved. With your scores I would think they approve with 2K+ as long as your TU file is looking good.