topic Re: Old Navy CLI? in Credit Card Applications

Old Navy CLI?

Anonymous — Thu, 07 Mar 2019 18:00:16 GMT

I have had my old navy store card since Oct, 2018. $400 limit. I have heavy use, but alwys keep the balance under $90 every month. I just hit the love button, but was declined. Anyone else have any this issue? I have 5 other credit cards that report every month at a $0 balance. One late payment from 6 months ago on my car. High inq. Any tips?

Eq. 601

TU 621

Ex 636

Re: Old Navy CLI?

Remedios — Thu, 07 Mar 2019 18:12:49 GMT

@Anonymous wrote:
I have had my old navy store card since Oct, 2018. $400 limit. I have heavy use, but alwys keep the balance under $90 every month. I just hit the love button, but was declined. Anyone else have any this issue? I have 5 other credit cards that report every month at a $0 balance. One late payment from 6 months ago on my car. High inq. Any tips?
Eq. 601
TU 621
Ex 636

That late payment is too new. Continue paying on time and wait till your scores start recovering

Re: Old Navy CLI?

Anonymous — Thu, 07 Mar 2019 18:14:09 GMT

Thank you!!!!

Re: Old Navy CLI?

CreditInspired — Sat, 09 Mar 2019 10:55:17 GMT

The card is only 5 months old and unfortunately the recent late doesn’t help. I would say try again October 2019. Then both the card and late payment will be a year old.

Re: Old Navy CLI?

Anonymous — Thu, 14 Mar 2019 18:51:04 GMT

Thank you!

Re: Old Navy CLI?

Anonymous — Wed, 15 May 2019 11:15:54 GMT

I have a GAP card, which can be used at Old Navy, Bananna Republic, Atheletica, etc. have had it since 08/2018 have asked for a CLI a number of times been declined each time, my credit line is just $200.00.
Yet have purchased more than that since the approval.
Not sure what their underwriting is, that is the terms between the vendor and the creditor, often determines the willingness of a creditor to approve or deny a CLI.
Closed loop cards often are designed to benefit the bank /creditor period.
If the terms are more favorable to a creditor then CLI's are more favorable to a consumer, if they get less from each purchase, then a creditor will most likely be more difficult to increase credit limits.
Think about store cards letting go of a portion of each sale to a creditor, just as vendors pay 2-5% to accept Visa/Mastercard etc. payments.
GAP is undermining their own possible success, considering their brands even on sale is double what most vendors are offering at today's sale prices. That's over capitalization, that will eventually lead to them either accepting a change or dieing off.
The costs involved to do business in modern times is heavily influenced by credit lines, more so than merely how much a person earns as a consumer.
That's the part that Gap has failed to understand, and is why they are running a deficit.
The creditor most likely has plenty of funds to make credit available, or higher credit amounts available, but without having proper terms the creditor will not go out of their way to advance a vendors product if they aren't willing to invest in their own products.
That's being too cheap.
It's not the credfitors fault, but the vendor, this is from my research while writing my book called "Unlocking America", research started in 2001. yea a long time in the works.

[update] 05/15/2019.
Since this post, I asked for a CLI and was approved for $800.00 total. a couple days later I asked for $200.00 more and was approved.
CL is now at $1k I'm good with that, as I will most likely never charge more than $200.00 at any given time. just to refresh seasonal clothing.

Re: Old Navy CLI?

FinStar — Tue, 19 Mar 2019 02:21:18 GMT

@Anonymous wrote:
I have a GAP card, which can be used at Old Navy, Bananna Republic, Atheletica, etc. have had it since 08/2018 have asked for a CLI a number of times been declined each time, my credit line is just $200.00.
Yet have purchased more than that since the approval.
Not sure what their underwriting is, that is the terms between the vendor and the creditor, often determines the willingness of a creditor to approve or deny a CLI.
Closed loop cards often are designed to benefit the bank /creditor period.
If the terms are more favorable to a creditor then CLI's are more favorable to a consumer, if they get less from each purchase, then a creditor will most likely be more difficult to increase credit limits.
Think about store cards letting go of a portion of each sale to a creditor, just as vendors pay 2-5% to accept Visa/Mastercard etc. payments.
GAP is undermining their own possible success, considering their brands even on sale is double what most vendors are offering at today's sale prices. That's over capitalization, that will eventually lead to them either accepting a change or dieing off.
The costs involved to do business in modern times is heavily influenced by credit lines, more so than merely how much a person earns as a consumer.
That's the part that Gap has failed to understand, and is why they are running a deficit.
The creditor most likely has plenty of funds to make credit available, or higher credit amounts available, but without having proper terms the creditor will not go out of their way to advance a vendors product if they aren't willing to invest in their own products.
That's being too cheap.
It's not the credfitors fault, but the vendor, this is from my research while writing my book called "Unlocking America", research started in 2001. yea a long time in the works.

Re: Old Navy CLI?

Anonymous — Tue, 14 May 2019 09:00:48 GMT

I did request a CLI again this month for Gap (05/2019) and was auto approved for $800.00.