How Long GE Apps Remain in System?
01-08-2013 01:12 PM
Briefing: A month ago, I applied for two GE backed cards, specifically Amazon and Walmart to be exact. However, I was declined both, citing I believe a "recent collections account", as well as a high utilization rate. Since then, I've worked and had the "recent collections account" which provided invalid data REMOVED from two of my three reports, the third is in pending for another 10 days.
On that note, I also have a defaulted credit card dating from 2006 that was sold off to a third-party collector. However, that third party collector, like others, was removed 2-3 years ago citing insufficient informaton. However, a "high balance" is still being reported on the defaulted credit card in the amount of $6xx. Here is where the utlization comes into play. I only have a $1,200 credit limit on my active card that was opened in November, with two months of on-time payments.
I also have one successful installment account on file that was paid off in 2010.
Overall, with a thin file, I have two questions.
1. How long does a GE application remain active in the system?
2. If the application is still potentially in the system, what's the likelyhood of an approval?
As a side note, after the removal of the recent collections account, my score rose by about 15 points to 665.
Thanks for everyone who responds.
Current Score: EQ 600; TU 652 (as of 12/04/2012); EX: 611 (as of 12/06/2012 per Pageonce iPhone App)
Goal Score: 700 Across the Board (TU, EQ, EX)
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