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Established Member
Posts: 24
Registered: ‎01-17-2010
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hhgregg Credit Card (GEMB)?

We are contemplating purchasing a new TV and our local hhgregg store is offering 0% for 24 months on any purchase of $999 and up.  I know that the card they offer is backed by GE Money Bank.

 

What I'm wondering is what qualifications are needed for a good chance of approval?

 

Here are some stats:

 

-Recently approved for Amex Zync (no pre-set limit) and Barclays Apple Financing card ($1,500 limit).

 

-Total utilization is currently 48%.

 

-Last late payment was 2 years and 9 months ago.

 

-Current TU FICO is 661 (myfico.com) and EQ 646 (myfico.com)

 

-I have a lease on my car through Nissan Motor Acceptance Corp and a mortgage on my home through Wells Fargo.

 

- No collections on either report (had 3 4-5 years ago but all have been PIF but are not listed as collections)

 

I don't want to go there and go through the embarrassment of being denied.

 

The TV we are looking at is $1,200.  Would it be worth trying...i know they pull E?  What are your thoughts?

 

 

Thanks in advance!

Established Member
Posts: 24
Registered: ‎01-17-2010
0

Re: hhgregg Credit Card (GEMB)?

anyone?

Epic Contributor
Posts: 24,157
Registered: ‎10-23-2007
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Re: hhgregg Credit Card (GEMB)?

Shouldn't be a problem. apply

Fico Scores: EQ- 670., TU 705 Sync, EX 700 (04/20/15)
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Established Contributor
Posts: 526
Registered: ‎04-21-2010
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Re: hhgregg Credit Card (GEMB)?

I think you have a good chance for approval my only concern for you would be that new barclays. They seem to like to sut down new accounts for even 1 new inq and for me and I think everyone they check TU. Now GEMB for me (I have 5 cards with them) they have ALWAYS pulled TU for me so I would be a little leary of that. But if they pull eq in our area go for it.

Moderator Emeritus
Posts: 4,875
Registered: ‎11-02-2010
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Re: hhgregg Credit Card (GEMB)?

 


mross1080 wrote:

I think you have a good chance for approval my only concern for you would be that new barclays. They seem to like to sut down new accounts for even 1 new inq and for me and I think everyone they check TU. Now GEMB for me (I have 5 cards with them) they have ALWAYS pulled TU for me so I would be a little leary of that. But if they pull eq in our area go for it.


FWIW, my husband applied for a GEMB backed card recently, and they pulled EQ for him. We live in Florida.

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
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Valued Contributor
Posts: 1,129
Registered: ‎01-20-2011
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Re: hhgregg Credit Card (GEMB)?

 


Jmc70 wrote:

We are contemplating purchasing a new TV and our local hhgregg store is offering 0% for 24 months on any purchase of $999 and up.  I know that the card they offer is backed by GE Money Bank.

 

What I'm wondering is what qualifications are needed for a good chance of approval?

 

Here are some stats:

 

-Recently approved for Amex Zync (no pre-set limit) and Barclays Apple Financing card ($1,500 limit).

 

-Total utilization is currently 48%.

 

-Last late payment was 2 years and 9 months ago.

 

-Current TU FICO is 661 (myfico.com) and EQ 646 (myfico.com)

 

-I have a lease on my car through Nissan Motor Acceptance Corp and a mortgage on my home through Wells Fargo.

 

- No collections on either report (had 3 4-5 years ago but all have been PIF but are not listed as collections)

 

I don't want to go there and go through the embarrassment of being denied.

 

The TV we are looking at is $1,200.  Would it be worth trying...i know they pull E?  What are your thoughts?

 

 

Thanks in advance!


 

If you can wait, I would recommend that. I am not picking but you have pretty borderline scores and high util (which may get even higher if you are approved for something like 1500).

 

No one can say for sure, but you may be running a very high risk of AA from barclay's

 

We have our own personal barclay's AA expert on this forum (JR), I will once again wait for his valuable inputs.

 

Jay....................

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Established Member
Posts: 13
Registered: ‎09-16-2010
0

Re: hhgregg Credit Card (GEMB)?

Barclay shot me down for two new inquiry, so careful

Valued Contributor
Posts: 1,157
Registered: ‎05-21-2008
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Re: hhgregg Credit Card (GEMB)?

I bought a samsung 860 series plasma 1.5 years ago.  I had scores in the low-to-mid 700s and was only approved for $1500.  They allow you to purchase something up to 120% of your credit line or something, if you pay anything over the limit after the first statement, so I did that, because the TV we bought was $1800.  To my surprise, what actually happened was a CLI up to $1800, but I paid off the $300 anyway, because I didn't want to risk anything, nor did I want to appear maxed out.

 

I just paid the card off last month.

 

I don't know if any of that helps, but I think their limits are pretty low compared to other retailers.  Home Depot approved me just a year prior with lower scores for $3000.  I think you will definitely be approved if you apply in-store.  So maybe you take whatever limit you get and max it out, then put the rest on a low APR card.  That will make your credit profile look even riskier, though.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Valued Member
Posts: 91
Registered: ‎11-04-2010
0

Re: hhgregg Credit Card (GEMB)?

My partner and I have many items together from our 12 years together and had many "ignorant" things in our past. We ar both in the mid to upper 600's at present... Furthermore, we both had a bk (me 2 one from 2001 - falls off in October, thank god and one dismissed in 11/2009 - thank god it will be 2 years in 2011!!!!)

 

But, I digress... at present I have 19 credit cards... 4 Visa's, and an HH Gregg. We were approved for $1050.00 - I think you have a greater chance... I have probably 20 inquiries from rebuilding with store cards over the past two years.

 

Good luck, look forward to hearing your results... side info, at the time we applied are debt to income is 18% and util is 7%... not sure if that helps... I have used it to buy a laptop - paid off, in February put $1,000.00 on a new washer and dryer (had to pay hefty cash load with it)... but, 12 months 0% is sweet... It's at $600.00 now only because I hate debt, but I took advantage of the interest free to carry it for two months... the washer is good quality - so I would imagine the television is too.

 

Josh

Gardening since 6-28-2013
Barclay's iTunes: $3,500 | Travelocity Amex $3,350.00 | USAA $7,000.00 | Chase Freedom: $2,000.00 | Discover IT $1,000.00 | NFCU cashRewards Visa $22,500.00 | NavCheck $12,500.00 | USAA $7,000.00 | JCP $3,000.00 | Macy's $2,200.00 | Sam's Club $1,100.00 | Care Credit: $3,300.00 | Carson's $5,250.00 | Wal*Mart $1,500.00 | Various others... can't remember most store cards --- Long journey to HERE -- keep up the good fight!
Established Member
Posts: 24
Registered: ‎01-17-2010
0

Re: hhgregg Credit Card (GEMB)?

Just wanted to let everyone know the outcome- applied in store today and got approved for 1200 instantly. I'm going to get the tv next weekend hopefully and going to bring 600-800 cash so I don't have to max out the card.

Thanks for your advice!
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