08-30-2013 01:55 PM
I was reading a report that GE is considering pulling out of retail financing as early as next year. I don't know how accurate that is, but if it is true I think that would affect a great deal of people here who use GE to help rebuild their credit and for their nice CLI's and credit limits.
08-30-2013 02:04 PM
Looks like they are spinning off the retail lending segment according to an article in the Wall Street Journal. Are links allowed?
08-30-2013 02:43 PM
GE Set to Exit Retail Lending
09-03-2013 07:19 AM
Asked for an increase on my Walmart store card. Denied. 6th statement from last increase
Seems like GE is tightening the belt quick.
<incident that happened to one person>
<broad generalization of that incident to everyone>
Not really sound logic.
The recent reporting of 90-day freezes and account audits holds a little more water, but as far as I can tell there have been 4 forum members who reported that out of the entire forum membership. And GE cards are very popular amongst the membership, so it feels too soon to call this a trend.
Nor are these 90 day audits something new:
I'm not saying that some of the recent activity on GE credit accounts can't eventually turn out to be related to this planned spin-off/IPO of the lending division. Just that it's highly speculative to assume the sky is falling when all we've got is a handful of raindrops at this point.
09-05-2013 06:11 PM
Aparently GE has been up to this for a while now, just found an article dating back to May of this year....
10-06-2013 02:15 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.