topic Re: GEMB cuts? in Credit Cards

GEMB cuts?

Logical — Fri, 26 Sep 2008 17:41:18 GMT

Today's Wall Street Journal page B1 headline:

GE Cuts Outlook Plans to Shrink Credit Unit

<quote>

Consumer delinquencies, which mostly affect GE's credit-card operations are "running into levels of some of the worst economic periods that we have seen," Mr. Sherin [Chief Financial Officer Keith Sherin] said. He said GE won't be able to sell its $30 billion U.S. private-label credit-card business in the near future, as planned, and will have to boost provisions for the business.

</quote>

Re: GEMB cuts?

Anonymous — Fri, 26 Sep 2008 17:44:38 GMT

Is GE Money Bank next to go down the drain.

Re: GEMB cuts?

Anonymous — Fri, 26 Sep 2008 17:48:50 GMT

No wonder they didn't reply to my RECON for a Chevron card.... bummer for them, I would have been one of their good customers. Not one of "The Delinquents"

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 00:47:41 GMT

You know what? Screw this. I'm cancelling my GEMB GAP card. A $200 CL with a FICO score of 731 is BS. I'm even tempted to max it out and never pay it again...

With stingy CLs and terrible CSRs, this is definitely karma coming back to bite them in the buttocks.

Message Edited by jaybird201 on 09-26-2008 08:47 PM

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 00:52:32 GMT

jaybird201 wrote:
I'm even tempted to max it out and never pay it again...

Well don't do that an hurt your score lol. If anything pay it off an close it how long have u had the card.

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 12:12:28 GMT

@Anonymous wrote:

@Anonymous wrote:
I'm even tempted to max it out and never pay it again...

Well don't do that an hurt your score lol. If anything pay it off an close it how long have u had the card.

Haha, oh, I would never do that. The empty threats make me feel better sometimes.

I called, thinking that they might put up a fight to try to keep a customer...Nope. The automated teller system did it for me.

Robot lady: "Would you like to cancel your card? Say yes or no"
Me: "Would you like to give me a credit limit increase?"
Robot lady: "Invalid response, please say yes or no"
Me: "YES! I HATE YOU! THROW ME A FREAKING CLI BONE AND SOME GOOD OLD FASHIONED CUSTOMER SERVICE! *click*"

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 17:42:45 GMT

Haha, oh, I would never do that. The empty threats make me feel better sometimes.

I called, thinking that they might put up a fight to try to keep a customer...Nope. The automated teller system did it for me.

Robot lady: "Would you like to cancel your card? Say yes or no"
Me: "Would you like to give me a credit limit increase?"
Robot lady: "Invalid response, please say yes or no"
Me: "YES! I HATE YOU! THROW ME A FREAKING CLI BONE AND SOME GOOD OLD FASHIONED CUSTOMER SERVICE! *click*"

Thats soooooo funny i needed that laugh today.

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 19:48:30 GMT

WOW THAT'S REALLY SCARY . ANYWAY I HAVE SEVERAL ACCOUNTS WITH THEM .

SO I WENT ONLINE TRYING TO GET CLI FROM:

(1) MERVYENS FINALLY INCREASED MY CL AFTER 11 MONTHS WITH THEM SO IT WENT FROM $300 TO $450CL

(2) WAL-MART I BEEN WITH THEM SINCE 01-01-08 SO I GET INCREASED FROM $500CL TO $600CL

ANYWAY I AM HAPPY,AND IT'S BETTER THEN NOTHING.

I THOUGHT I MIGHT GET BETTER INCREASED THEN THAT,BUT I REMEMBER THIS GEMB,AND THE REST OF MY ACCOUNTS I HAVE TO CALL THEM TO GET CLI . WISH ME LUCK .

Message Edited by creditdream on 09-27-2008 12:48 PM

Re: GEMB cuts?

nicemann — Sat, 27 Sep 2008 19:55:36 GMT

For the Walmart you can get a CLI every three months as long as you use your card each month. Of course also pay your bill on time. I just charge a small amount to my card each month. Then I mark on the calender to hit the CLI button. I have been with them for about 1 1/2 years. I just recently found out the the three month rule and that I have to use it every month.

Last CLI was $150 before that it was $100. Yeah it's not the best CLIs but hey at least they don't try to charge you like Orchard does. Not the mention they don't charge a AF.

BTW when I talked to the rep about 5 months ago, she was the one that gave me the insight about the three months. Wish I knew about it sooner and maybe my CL would be over $550.

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 21:25:38 GMT

does any one know the phone # for wal-marts credit department?

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 23:02:51 GMT

nicemann wrote:
For the Walmart you can get a CLI every three months as long as you use your card each month. Of course also pay your bill on time. I just charge a small amount to my card each month. Then I mark on the calender to hit the CLI button. I have been with them for about 1 1/2 years. I just recently found out the the three month rule and that I have to use it every month.

Last CLI was $150 before that it was $100. Yeah it's not the best CLIs but hey at least they don't try to charge you like Orchard does. Not the mention they don't charge a AF.

BTW when I talked to the rep about 5 months ago, she was the one that gave me the insight about the three months. Wish I knew about it sooner and maybe my CL would be over $550.

I thought it was every 4 months not 3.

Re: GEMB cuts?

nicemann — Sat, 27 Sep 2008 23:06:09 GMT

mjbfan79 wrote:

I thought it was every 4 months not 3.

Rep on the phone told me every three months. Maybe she was wrong ?

Re: GEMB cuts?

Anonymous — Sat, 27 Sep 2008 23:14:14 GMT

nicemann wrote:
Rep on the phone told me every three months. Maybe she was wrong ?

When i called i was told every 6 months an most people here say every for months i will just have to wait an see for myself. I will request another one Nov 1.

Re: GEMB cuts?

Logical — Sun, 28 Sep 2008 00:02:16 GMT

Sam's Club seems to be every 6 months. Late last year I requested one at 4 months and "insufficient experience at your current credit limit" was the reason for decline. 2 months later they gave me an auto-cli.