topic Re: GEMB Store Cards in Credit Cards

GEMB Store Cards

laz98 — Mon, 03 Nov 2008 02:57:30 GMT

What store cards does GEMB back? Trying to get a complete list.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:08:40 GMT

Half the retail stores and chains in th US.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:09:47 GMT

Here is a link to all of their store cards, HOWEVER, from what I hear you need a FICO score of 660 at EQ to be approved as of 10/08

http://www.gemoneycards.com/personal/credit_cards/shop/index.html

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:13:07 GMT

I have a Ritz Camera GEMB card with a $4500 line for cripes sake. Go figure.

Re: GEMB Store Cards

laz98 — Mon, 03 Nov 2008 03:14:06 GMT

@Anonymous wrote:
Here is a link to all of their store cards, HOWEVER, from what I hear you need a FICO score of 660 at EQ to be approved as of 10/08

http://www.gemoneycards.com/personal/credit_cards/shop/index.html

actually, i have several of their cards, & my scores aren't there yet. thanks for the link though!

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:14:28 GMT

That's odd, I didn't see GAP/Banana Republic on that web page. I have two TLs that say GEMB/Banana Republic.

Re: GEMB Store Cards

laz98 — Mon, 03 Nov 2008 03:16:14 GMT

@Anonymous wrote:
That's odd, I didn't see GAP/Banana Republic on that web page. I have two TLs that say GEMB/Banana Republic.

that's what i was thinking. guess it's not a complete list after all.

old navy isn't on there either.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:18:40 GMT

You may have card approved prior to 10/24/2008 when GEMB went as low as mid 500's to approve cards.

However, as of 10/24/2008 you now need a FICO at EQ of 660. So your old cards may be fine, but I would hold off trying to get new cards until you have the 660 score. I can supply links to the new rules , but it is a site that MYFico may not like if I link to.

Only the cards listed on the site with the link can you apply for new cards online with now. Not all of the cards they back are they still looking to open new accounts on.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:24:08 GMT

There's that 10/24/2008 date again. What all else happened on that specific date that I missed?

Re: GEMB Store Cards

laz98 — Mon, 03 Nov 2008 03:27:08 GMT

@Anonymous wrote:
You may have card approved prior to 10/24/2008 when GEMB went as low as mid 500's to approve cards.

However, as of 10/24/2008 you now need a FICO at EQ of 660. So your old cards may be fine, but I would hold off trying to get new cards until you have the 660 score. I can supply links to the new rules , but it is a site that MYFico may not like if I link to.

Only the cards listed on the site with the link can you apply for new cards online with now. Not all of the cards they back are they still looking to open new accounts on.

actually, all of my cards were applied for & approved starting 10/26.

not trying to be argumentative, just saying it's not 100%, i guess.

if you wouldn't mind, i would appreciate getting that link via PM. thanks.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:27:54 GMT

JCPenney, Chevron, Amazon.com Store Card

Pay Paly Buyers Card

GEMB pulled Trans U for all of my accounts with them... I know I did not have a 660 on any CR at the time. This was, however, last Spring.

Re: GEMB Store Cards

laz98 — Mon, 03 Nov 2008 03:28:58 GMT

you know, i keep hearing that they pull TU. they didn't pull TU for a single one of my cards!!!

**bleep** it. that's my highest score.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:29:44 GMT

10/24/2008 is also the date that GEMB cut many customers credit lines down to their existing outstand balance or closed many cardholders accounts for NO REASON according to some cardholders.

However, they are lowering credit lines for low FICO scores or high utilization or for any other reason they want.

They are taking huge losses this quarter and they are cutting back alot of credit lines to avoid future losses.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:47:22 GMT

Here is a link to the site I mentioned before

Edited link to Finance Globe

You would need to join the forums on the above site to access that info. That is not an open public site, you can join for free, but until you join it, you can not access the info I posted on here.

Please refrain from posting links to other sites that may contain information that violates the myfico TOS. You said above you were aware that the link would not be tolerated, in which case it should NOT have been posted.

Thank you,

Peas (Moderator)

Message Edited by WhirledPeasPlease on 11-02-2008 10:47 PM

Re: GEMB Store Cards

wmarat — Mon, 03 Nov 2008 03:38:42 GMT

Indeed, GEMB has recently changed criteria and AA'd cardholders.

Doc, I do not hold FG as a reliable source of info.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:42:31 GMT

I dont find any site too reliable. However, you can read the actual story of what happened to specific people and draw your own conclusions from that.

As far as the GEMB link, that is what they are offering right now. Since it is their own site, I would think that site would be reliable.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:46:43 GMT

@Anonymous wrote:
10/24/2008 is also the date that GEMB cut many customers credit lines down to their existing outstand balance or closed many cardholders accounts for NO REASON according to some cardholders.

However, they are lowering credit lines for low FICO scores or high utilization or for any other reason they want.

They are taking huge losses this quarter and they are cutting back alot of credit lines to avoid future losses.

Well I hope that is not true in all cases. I have about 7 accounts with them, three or four that I have not used since getting them in April or so. Walmart, I just paid off. I have small balances on Amazon and Paypay Buyers. I did get declined for CLI except for on Walmart... go figure... although they sent me a letter explaining why they declined me for the Walmart.... Who knows what that is all about.

My credit score has dropped dramastically since getting the cards, but my payment history with them is excellent.

Message Edited by Changingmantra on 11-02-2008 07:46 PM

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 03:46:48 GMT

You never know the real reason they will lower someones credit line.

If I was you, I would use all of the cards at least once every few months. They will close cards for inactivity. That I see happen all the time.

Re: GEMB Store Cards

Anonymous — Mon, 03 Nov 2008 05:43:22 GMT

I will have to disagree also. I recently applied for and received two GEMB backed cards (10/26 and 10/28). My scores are no where near 660 ... as much as I wish they were.

@Anonymous wrote:
You may have card approved prior to 10/24/2008 when GEMB went as low as mid 500's to approve cards.

However, as of 10/24/2008 you now need a FICO at EQ of 660. So your old cards may be fine, but I would hold off trying to get new cards until you have the 660 score. I can supply links to the new rules , but it is a site that MYFico may not like if I link to.

Only the cards listed on the site with the link can you apply for new cards online with now. Not all of the cards they back are they still looking to open new accounts on.

Re: GEMB Store Cards

akaniks — Mon, 03 Nov 2008 07:47:33 GMT

I recently received a CLI on my Chevron/GEMB card from $400-$600 and on the 28th of October I was approved for the Care Credit/GEMB card with a CL of $1,500.

They denied me a bunch last year. I was denied for American Eagle, JCPenney, Paypal, Lowes, would have saved me a lot of trouble if I would have known they were all GEMB! We seem to be cozy now. I think they have pulled EQ for me every single time.