topic Re: Tested my GE Holiday theory with Lowe's CLI! in Credit Cards

Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:14:34 GMT

When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays. I decided to test the theory with Lowe's since I just got my card in the mail today. On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500. Today after getting the card, I called the back door number for GE Money Bank. I only asked for an additional $1,500, and they approved it no problem! Now my Lowe's limit is $5,000.00 even. Tis the Season!!!

Re: Tested my GE Holiday theory with Lowe's CLI!

dodgerslv — Sat, 17 Nov 2012 22:19:12 GMT

@Anonymous wrote:
When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays. I decided to test the theory with Lowe's since I just got my card in the mail today. On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500. Today after getting the card, I called the back door number for GE Money Bank. I only asked for an additional $1,500, and they approved it no problem! Now my Lowe's limit is $5,000.00 even. Tis the Season!!!

Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:23:08 GMT

Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:26:33 GMT

@dodgerslv wrote:
@Anonymous wrote:
When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays. I decided to test the theory with Lowe's since I just got my card in the mail today. On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500. Today after getting the card, I called the back door number for GE Money Bank. I only asked for an additional $1,500, and they approved it no problem! Now my Lowe's limit is $5,000.00 even. Tis the Season!!!
Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.

It's a soft pull, so nothing to lose at all. I say go for it!! I just got the Lowe's card in the mail today. I went from 1,000 to 5,000 in less than a week! Talk about growing quickly!!! GE cards are on steroids!!!

Re: Tested my GE Holiday theory with Lowe's CLI!

dodgerslv — Sat, 17 Nov 2012 22:27:52 GMT

@Anonymous wrote:
Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.

very true....when i requested an increase with the Chev/Tex gas card, i always carried a balance close to the limit every month (had the card for 7 months now) but that was because i used once a week and every time it was almost 100 to fill the thank (have a 400 limit). So maybe now since i stopped using it and PIF im debating if that will improve my chances this time around (plus it is the holidays...lol)

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:28:22 GMT

@Anonymous wrote:
Good theory -- automatic increases may have a more lenient strategy considering the volume of business conducted; however, the underwriting criteria is the same. :-) It would be unfair lending to approve differently simply because of the holidays. Remember -- most increases are going to be approved or declined on the basis of the amount requested, usually 1.5 x to 2 x the current credit limit are not going to have much of a pushback. That is, of course, considering no recent or current delinquency good utilization, and fairly solid recent history on all unsecured and revolving lines.

I'm fairly certain that if I simply used the online CLI button I would be denied because I have not had my cards long enough. I used Walmart only once for a printer, and I have not used Lowe's at all.....

Re: Tested my GE Holiday theory with Lowe's CLI!

dodgerslv — Sat, 17 Nov 2012 22:30:49 GMT

@Anonymous wrote:
@dodgerslv wrote:
@Anonymous wrote:
When I got the increase from Walmart with only having the card for 2 months, I figured it was because of the upcoming Holidays. I decided to test the theory with Lowe's since I just got my card in the mail today. On Nov. 11, 2012 I was approved for $1,000 and then immediately called for an increase, which I got to $3,500. Today after getting the card, I called the back door number for GE Money Bank. I only asked for an additional $1,500, and they approved it no problem! Now my Lowe's limit is $5,000.00 even. Tis the Season!!!
Congrats!!!! I am eager to test it on my Dillards and Chev/Tex cards (both GE). Was succesfull with Walmart card already. Tried the Chev/Tex about 3 months ago and was declined. I have a zero balance now (PIF last month). I have had my Dillards card since August with a 300 limit. Charged 250 and PIF last month. Wonder if i have a good chance with them.
It's a soft pull, so nothing to lose at all. I say go for it!! I just got the Lowe's card in the mail today. I went from 1,000 to 5,000 in less than a week! Talk about growing quickly!!! GE cards are on steroids!!!

haha....it does seem they are being more generous and possibly lenient lately....I am definitely going to try with Dillards cuz i dont want to do some holiday shoppin there and 300 is not enough (plus it is my lowest tradeline limit out of all my cards). Hopefully they can match my 1000 limit on rival Macys card...hehe.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:37:16 GMT

You should be ok. :-) If an underwriter reviews they are looking at lending policies 1.5x to 2x the current limit isnt going to be an issue.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:40:05 GMT

Yea, within 30 days the online or with a csr cli will typically decline due to time at current limit. Thats simply a strategy review. A underwriter will review based upon lending guidelines. All I meant was banks cant set specific lending guidelines because of the holidays -- that would mean they were discriminating against those who didnt celebrate that particular holiday. :-)

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 22:52:07 GMT

@Anonymous wrote:
Yea, within 30 days the online or with a csr cli will typically decline due to time at current limit. Thats simply a strategy review. A underwriter will review based upon lending guidelines. All I meant was banks cant set specific lending guidelines because of the holidays -- that would mean they were discriminating against those who didnt celebrate that particular holiday. :-)

You don't have to celebrate the holiday to take advantage of limit increases or whatever specials are offered...

Re: Tested my GE Holiday theory with Lowe's CLI!

jsucool76 — Sat, 17 Nov 2012 22:54:27 GMT

@Anonymous wrote:
@Anonymous wrote:
Yea, within 30 days the online or with a csr cli will typically decline due to time at current limit. Thats simply a strategy review. A underwriter will review based upon lending guidelines. All I meant was banks cant set specific lending guidelines because of the holidays -- that would mean they were discriminating against those who didnt celebrate that particular holiday. :-)
You don't have to celebrate the holiday to take advantage of limit increases or whatever specials are offered...

That is like saying you need to celebrate halloween to eat candy xD

Or christmas to eat candy canes

or channukah to eat potato latkes

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 23:20:10 GMT

True, but you also cant increase limits simply because of a holiday -- thats all I'm getting at. That would be against the equal credit opportunity act, I work as an underwriter for consumer credit and that would definitely be a regulatory issue. You can extend strategies for a more lenient policy; however, underwriters are judgmentally approving outside of strategy and their lending policies would not be changed simply because of a holiday or special sale.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 23:32:20 GMT

@Anonymous wrote:
True, but you also cant increase limits simply because of a holiday -- thats all I'm getting at. That would be against the equal credit opportunity act, I work as an underwriter for consumer credit and that would definitely be a regulatory issue. You can extend strategies for a more lenient policy; however, underwriters are judgmentally approving outside of strategy and their lending policies would not be changed simply because of a holiday or special sale.

They increase limits because they want people to spend. People tend to spend more around holidays.....ergo, they increase limits around holidays...LMAO! Relax, it's my theory. I'm not saying anyone called me up and told me this as fact.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 23:39:47 GMT

As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sat, 17 Nov 2012 23:51:22 GMT

@Anonymous wrote:
As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.

If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes. We all know that this is not true. If you would like to believe that it is, have at it. I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sun, 18 Nov 2012 00:06:15 GMT

@Anonymous wrote:
@Anonymous wrote:
As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.
If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes. We all know that this is not true. If you would like to believe that it is, have at it. I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

lol, well... congrats on the increase. I work in underwriting for this company, so just trying to help out those who are gardening in the know about auto/cust initiated cli's with csrs versus those initiated with uw directly through the backdoor.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sun, 18 Nov 2012 00:19:29 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
As a general rule -- this lender bases automatic and customer initiated cli's on a risk score which takes your credit score, bankruptcy score, and internal score (based upon how you use the line -- payment history, overlimit history, cash advance history, etc.) into consideration. Underwriters aren't as score focused, we are required to review grades of credit / tiers of credit. Underwriters wont consider why or what your using the credit for (holidays, etc), we simply will review credit history for the increase and that is what the decision will be based from.
If it were as written in stone as you would like it to be, everyone with the same or similar situations would always have the same or similar outcomes. We all know that this is not true. If you would like to believe that it is, have at it. I'm going to stick to my theory that because of holiday spending, GE is giving limit increases, and enjoy the $9,300 in increases that I have gotten...LOL!

lol, well... congrats on the increase. I work in underwriting for this company, so just trying to help out those who are gardening in the know about auto/cust initiated cli's with csrs versus those initiated with uw directly through the backdoor.

Aaron do you think if I called Walmart and spoke to someone it'd be a hard pull? I got aincrease on my GE Sony recently and I asked for 500 and i got 2500 and it was a hard pUll.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sun, 18 Nov 2012 00:24:19 GMT

Walmart cli's are soft. Sony is a different division and different policies exist.

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sun, 18 Nov 2012 00:41:44 GMT

Even if I just had gotten one maybe two months earlier? And what number would icall

Re: Tested my GE Holiday theory with Lowe's CLI!

Anonymous — Sun, 18 Nov 2012 00:59:58 GMT

Yep. Online cli tool on the website was back up again or you can call the back office # listed on the forum to go direct to underwriting. Good luck! Sent you a PM with the #.