topic Re: GECRB in Credit Cards

GECRB

Anonymous — Wed, 05 Dec 2012 04:28:11 GMT

So I was thinking about applying for the walmart card, since it's through GECRB, if I apply for any other cards offered through their network, would it all be one hard inquiry or each application is separate?

Re: GECRB

daybreakgonesXe — Wed, 05 Dec 2012 04:29:42 GMT

@Anonymous wrote:
So I was thinking about applying for the walmart card, since it's through GECRB, if I apply for any other cards offered through their network, would it all be one hard inquiry or each application is separate?

Each application is separate, but be careful! Opening multiple GECRB accounts in a short time period may cause them to close out ALL the accounts shortly after approvals!

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 04:32:10 GMT

@Anonymous wrote:
So I was thinking about applying for the walmart card, since it's through GECRB, if I apply for any other cards offered through their network, would it all be one hard inquiry or each application is separate?

Hey crew99!

Welcome to the forums! Just a very good rule of thumb.... Any app=HP. Either for a CLI or new CC. If it doesn't result in one, Congrats! But to answer your question, yes it will be a HP for every new app. Hope this helps!

Re: GECRB

Anonymous — Wed, 05 Dec 2012 04:34:02 GMT

wow yah I just read the post below mine...that's crazy....but maybe like 2 would be ok? I was thinking of getting the amazon or paypal one as well

Re: GECRB

Anonymous — Wed, 05 Dec 2012 04:35:01 GMT

Thanks improvingmycredit, I hope to get my scores up to your range one of these days!!

Re: GECRB

BearsAndTurtlesRtheBest — Wed, 05 Dec 2012 04:40:42 GMT

Also!! if you apply for four credit cards issued by GE and are approved you will not get approved for the 5th card in another words after your 4th app with GE you will begin to see denials after 6 months then you can apply for other GE cards if you want. I am not sure why it happens, I just wanted you to be aware of that

Re: GECRB

daybreakgonesXe — Wed, 05 Dec 2012 04:39:36 GMT

@Anonymous wrote:
wow yah I just read the post below mine...that's crazy....but maybe like 2 would be ok? I was thinking of getting the amazon or paypal one as well

I would give it at least 6 months between apps just to play it safe...some of the previous threads mention one a year, but some people slide through the cracks and can get two at the same time with no negative effects...hopefully someone can clarify this or give their own personal experience?

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 04:40:38 GMT

@Anonymous wrote:
Thanks improvingmycredit, I hope to get my scores up to your range one of these days!!

Thanks!!! I don't know what your FICO is but if you elaborate on your credit profile a bit, you will probably get some good advice on the best bang for your FICO buck with regards to what to app/not to app. CCs, limits, FICO, AAoA, baddies, utility - would be helpful. FYI, apping 2 GE cards won't be a problem as long as you qualify to begin.

Re: GECRB

youngandcreditwrthy — Wed, 05 Dec 2012 04:45:35 GMT

Hmm... I apped and was approved for Chevron for $700 Paypal MC for $2,000 and Amazon for $1200 on the same day.. I got denied for World Market... The fourth app. This was like in Jan of this year. I keep all of my GECRB cards at 0 bal mostly and pif. Easy credit, but rates are highhhh Lol

Re: GECRB

Anonymous — Wed, 05 Dec 2012 04:48:13 GMT

Well I just got approved, except it didnt give me an option to choose discover or the walmart credit card....

$500 is not a bad CL to start I guess....gonna wait a few and then start the CLI

I'm gonna see about the second application, but definitely gonna do it quickly so I can rest up and let the inquiries fall off together.

Will put some more info on my signature here in a bit so I can track my progress

Re: GECRB

Anonymous — Wed, 05 Dec 2012 04:50:25 GMT

go for amazon they have some good zero percent intros going on right now

Re: GECRB

BearsAndTurtlesRtheBest — Wed, 05 Dec 2012 04:56:37 GMT

Luckyy!! thats awesome. Maybe you got the store card which will upgrade later on Great job!

Re: GECRB

Anonymous — Wed, 05 Dec 2012 04:56:27 GMT

Just updated my sig with the three most current scores, not sure why EQ is so much higher than the other two

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 04:59:13 GMT

@Anonymous wrote:
Just updated my sig with the three most current scores, not sure why EQ is so much higher than the other two

The only one that matters is the FICO. The others are FAKO. With a FICO of near 700, you should be good to go on the Amazon too. This is assuming that you have a decent AAoA and utility. i would actually app the Chase Amazon Visa if you elaborate a little more on your credit file.

Re: GECRB

Anonymous — Wed, 05 Dec 2012 05:13:06 GMT

not sure if this helps...pulling straight from fico

Currently I have 1 satisfied judgement and 5 accounts with neg indicators.....1 foreclosure 3 years back turned to a loan mod, 1 CO, 3 late payment accounts (sent out GW letters to everything yesterday....fingers crossed!)

1 HP within the last year

2% credit utilization

AAoA 8 Years

Oldest account 13 Years

Most recent late payment 3 years, 1 month ago

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 05:11:53 GMT

@Anonymous wrote:
not sure if this helps...pulling straight from fico

Currently I have 1 satisfied judgement and 5 accounts with neg indicators (sent out GW letters to everything yesterday....fingers crossed!)
1 HP within the last year
2% credit utilization
AAoA 8 Years
Oldest account 13 Years
Most recent late payment 3 years, 1 month ago

Hey! The satisfied judgement is also 3 yrs old? All everything else looks good if so. What are your CC limits?

Re: GECRB

Anonymous — Wed, 05 Dec 2012 05:15:41 GMT

judgement was satisfied october of last year

I have a 3K, 5K, AU on a 5k amex (not sure if it's reporting or not), and now a 500 walmart card

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 05:20:28 GMT

@Anonymous wrote:
not sure if this helps...pulling straight from fico

Currently I have 1 satisfied judgement and 5 accounts with neg indicators.....1 foreclosure 3 years back turned to a loan mod, 1 CO, 3 late payment accounts (sent out GW letters to everything yesterday....fingers crossed!)
1 HP within the last year
2% credit utilization
AAoA 8 Years
Oldest account 13 Years
Most recent late payment 3 years, 1 month ago

Just read your edit- That judgement and CO is what's really hurting you. How old? The 3 late payments hurt but they are getting older now for average credit CCs. Also, is the loan mod reporting as a current installment loan?

Re: GECRB

Anonymous — Wed, 05 Dec 2012 05:27:43 GMT

CO was Dec 09, judgement satisfied in Oct of last year. Mortgage is now "Pays as agreed" but under the comment it says loan modified under fed gov plan

Re: GECRB

improvingmycredit — Wed, 05 Dec 2012 05:29:50 GMT

Well, based on this info, I'd say go for the Amazon GE. Leave the Chase Amazon Visa alone till you get some of the other baddies removed or they age some more. That judgement's going to be a bear to remove. I give you a 75-80% approval odds for GE Amazon. 50-55% Chase Visa. You haven't burnt any inqs for a while and this is a good thing. GE will pull TU. Chase will pull EX/EQ more then likely. It wouldn't hurt your profile to have a couple of more positive trade lines. If your feeling gutsy, app the Chase see where you stand. You might get approved on recon. Worth the work if so.