topic Re: Explain these shenanigans by GE... in Credit Cards

Explain these shenanigans by GE...

Anonymous — Mon, 29 Apr 2013 21:19:01 GMT

1 year old amazon store card, perfect payment history, tons of use (9k ish), still stuck at initial 700 dollar limit. Clicked luv button often, callled credit solutions at least 5 times, still nothing.

Get walmart store card in the mail today, call and reconed the intial limit from 600 to 1000...

I dont understand. Im grateful, but frusturated at the same time.

Re: Explain these shenanigans by GE...

09Lexie — Mon, 29 Apr 2013 21:20:43 GMT

What were their reasons for denial?

Re: Explain these shenanigans by GE...

Revelate — Mon, 29 Apr 2013 21:23:53 GMT

Different cards have different underwriting policies; or in this case, possibly entirely different underwriting analysts altogether (Walmart has a seperate analyst number from standard GE as an example, no telling how it's setup on the backend).

I would suggest though that spamming the monkey button is usually not the best way to obtain a CLI .

Every time that the request is initiated, it'll show up in the logs, and they will assuredly factor that into their future decisions and knowing banks, probably not in your favor.

Re: Explain these shenanigans by GE...

Anonymous — Mon, 29 Apr 2013 21:30:47 GMT

Interesting, I did not know that they kept track of increase attempts, ill keep that in mind. I cant remember the reasons for denial, but i suppose ill cut down on the luv button attempts.

I was still asking only about every other month, which seemed reasonable at the time.

Re: Explain these shenanigans by GE...

09Lexie — Mon, 29 Apr 2013 21:36:08 GMT

It's true that different cc's have their own UW (PayPal and JCPenney comes to mind) if you are not addressing the reasons for denial your chances are not going to improve over time. GE is very generous with CLI's, SP's and re conning and initial CL but not every profile will be approved for the '4th statement CLI' GE has been known for.

Good luck.

Re: Explain these shenanigans by GE...

Revelate — Mon, 29 Apr 2013 21:38:38 GMT

Lenders keep track of virtually everything honestly.

I'll pose a theory question to you: how many average consumers do you think ask for CLI's once a month?

They're pretty rare on this forum, and we're bigtime outliers when it comes to the rest of humanity when it comes to chasing such things; I suspect in this case it's an even smaller percentage everywhere else. As a result, I'm not positive that any lender would see it as "reasonabe" (by this I mean: what they expect) and I'd suggest this isn't one of the ways one wants to bring attention to oneself from a lender.

Also a lot of lenders (Amex, GE, etc ad naseum) have restrictions on how often you can apply for a CLI anyway, and it's almost always measured in multiple months, 4-6 seems to be fairly typical.

Re: Explain these shenanigans by GE...

Creditaddict — Mon, 29 Apr 2013 21:52:47 GMT

@Anonymous wrote:
1 year old amazon store card, perfect payment history, tons of use (9k ish), still stuck at initial 700 dollar limit. Clicked luv button often, callled credit solutions at least 5 times, still nothing.

Get walmart store card in the mail today, call and reconed the intial limit from 600 to 1000...

I dont understand. Im grateful, but frusturated at the same time.

You call in and talk to underwriting or csr's at amazon credit?

What do they say is the reason for no increase?

what is your fico score that Walmart is giving you?

Re: Explain these shenanigans by GE...

LS2982 — Mon, 29 Apr 2013 21:58:16 GMT

What have your past denial letters said???

I bet most of them say "insufficient time with current credit limit".

GE CLIs are typically every 4 months from last successful CLI.

Re: Explain these shenanigans by GE...

toppers555 — Tue, 30 Apr 2013 03:25:47 GMT

if you are getting not enough experience message make sure you account has generated a statement before. If you never ever let a balance report you be stuck in not enough experience with current credit limit limbo.

Re: Explain these shenanigans by GE...

youngandcreditwrthy — Tue, 30 Apr 2013 15:57:26 GMT

Toppers is sooo 11110000000% correct.
Even if you just let a $1 report, you have to.

Re: Explain these shenanigans by GE...

LS2982 — Tue, 30 Apr 2013 16:09:07 GMT

Thats not exactly true. Its YMMV. never had that come up other than I was too early on the 4 months. I dont carry balances on many of my GE accounts.

Re: Explain these shenanigans by GE...

jsucool76 — Tue, 30 Apr 2013 17:36:16 GMT

It is definitely a ymmv situation.

Some people don't report balances and have success with CLIs, for others who don't report balances, they will constantly be hit with the "insufficient experience at current limit" message.