topic Re: NO LoveI From GE Capital Again in Credit Cards

NO Love From GE Capital Again

masscredit — Sun, 29 Sep 2013 16:19:37 GMT

GE Capital is really starting to remind me of my ex wife. No matter what I do, it's not good enough for a little love. I've paid down most of my cards. Had utilization in the low 40% range earlier this year. Have dropped that down to 8%, my scores are the highest that they've been in over 5 years (and significantly higher than when GE approved me for my cards in Aug '12), I get initiated and auto CLIs on my other cards but from them... nothing!

I tried the love button for my Walmart and JCP cards this morning. Each time I received this message - "We apologize for the inconvenience, but we cannot process a credit line increase online for this account." Ok, I can see that. I've read that the love button sees an old score/report so I called Credit Solutions. We went through the normal questions. I requested that my Walmart limit be increased to $2500. from $700. Then I was on hold for about 5 minutes. The woman came back and said that she was sorry but they couldn't increase my limit at this time and I will receive a letter explaining why in 7-10 days. She asked if there was anything else that she could help me with so I asked for an increase on my JCP card. I told her that I can't even buy a comforter with the $200. limit that card has. I shot low for this increase - $500. My wait was as short as my credit request. I thought surely she wouldn't come back and deny me twice but... she did. I started to question those denials but she told me that she didn't know why and that the letter would explain.

So a tree will be sacrificed for my credit denials. I'm wondering if I should call back after I get those letters in. Last time I called for a request was the end of May. The letter that they sent listed the following reasons -

Serious delinquency and public records or collection filed - That was my BK that was discharged in Feb '10

Time since derogatory public record or collected to short - It's been over 4 years now

Proportion of loan balances to loan amounts to high - Maybe my car refi from May?

Length of time revolving accounts have been established - I have some time under my belt now.

I'll see what this letter says, give it a few months then try again.

It's ok either way, they might no apprecicate my efforts but there are others that will.

Re: NO Love From GE Capital Again

jwduke — Sun, 29 Sep 2013 16:25:00 GMT

Don't feel bad, I have a $250 CL with JCPennys, and I have a 758 for credit score, and GEMB WILL NOT BUDGE!!! My SO has a score of 678, and has a $5,000 CL, so go figure!

Re: NO Love From GE Capital Again

masscredit — Sun, 29 Sep 2013 16:32:49 GMT

@jwduke wrote:
Don't feel bad, I have a $250 CL with JCPennys, and I have a 758 for credit score, and GEMB WILL NOT BUDGE!!! My SO has a score of 678, and has a $5,000 CL, so go figure!

That's just wrong!

One thing that I noticed while reading my old denial letter is a note about my credit score. That score was from about 2 weeks before the letter's date. It says While the date of the credit score might not be recent, your score has likely not changed significantly since this date. We receive updated scores on a periodic basis, and when significant changes occur.

Looking at my signiture, the score that I received from them was 653 a few weeks ago (dated 9/7). My EQ score from here has gone up 21 points in the last month so I wouldn't be surprised to see at least 20 on my TU score. The big decrease in my utulization happened this month.

Re: NO Love From GE Capital Again

zerobacan — Sun, 29 Sep 2013 16:48:06 GMT

I have GE accounts since Jan and Feb this year

and I started in the 200 -300 CL

then at the 4 month (April- May) mark Credit solution bumped me into the 500 -1000 CL ranges for my Amazon, Wally, Smart Conenct and JC penny then I got stuck until a week ago

I have 5k Amazon, 2k Jc Penny, 4k Smart Connect 2.1 Wally

The key here has been use it as much as you can. I ve gone up to 20- 30% of the CL and then PIF and bug them....everyday

Re: NO Love From GE Capital Again

masscredit — Sun, 29 Sep 2013 17:41:02 GMT

I've only tried for a CLI with them a few times over the last year. I received an auto increase on my Walmart from $600. - $700. after about 3 months. That's it. Seeing that I asked for $2500, if something was going to be approved, it they have came back with a counter offer?

I kind of doubt it in this case because they shot down the $500. request for JCP.

Re: NO Love From GE Capital Again

Creditaddict — Sun, 29 Sep 2013 18:29:14 GMT

If she doesn't know why and you will have to wait for the letter that doesn't sound like credit solutions and a manual review, that sounds like computer decision??

the manual review uses "NEW" credit pulls that's the point of it, the luv button and rep cli uses "sometimes" 2+ month old reports.

Re: NO Love From GE Capital Again

masscredit — Sun, 29 Sep 2013 18:40:15 GMT

@zerobacan wrote:
I have GE accounts since Jan and Feb this year

and I started in the 200 -300 CL

then at the 4 month (April- May) mark Credit solution bumped me into the 500 -1000 CL ranges for my Amazon, Wally, Smart Conenct and JC penny then I got stuck until a week ago

I have 5k Amazon, 2k Jc Penny, 4k Smart Connect 2.1 Wally

The key here has been use it as much as you can. I ve gone up to 20- 30% of the CL and then PIF and bug them....everyday

When you say everyday, how often is to often to try? I'm thinking that I'll see what the letters say, knock my utilization down a few more points (don't think that will matter) and try again in 4-5 weeks.

@Creditaddict wrote:
If she doesn't know why and you will have to wait for the letter that doesn't sound like credit solutions and a manual review, that sounds like computer decision??
the manual review uses "NEW" credit pulls that's the point of it, the luv button and rep cli uses "sometimes" 2+ month old reports.

I called the number from the other thread and it sounded like Credit Solutions or something like that when she answered. I was on hold for awhile. She even came back to tell me that it would be another minute or two. I figured that would be the person that could tell me yes, no and why if no.

I read about how generous GE is with CLIs. I know that my credit isn't perfect but aside from a BK that was discharged in Feb '10 and some tax iiens, it's not bad. No late payments since the BK, I use the card and overall I think I'm doing pretty good. My two GE cards have been stuck in the No Increase Zone while the others continue to grow.

Re: NO Love From GE Capital Again

Anonymous — Sun, 29 Sep 2013 18:46:29 GMT

I stopped getting consistent CLIs from GE last year. Before then, I just KNEW that every 6 months I could get at least $900 whenever I tried for an increase, especially on my Amazon and Walmart. Now, it seems like as soon as Amazon hit a CL of $2000, CLIs were almost shut down; odd because I put a lot of money on my Amazon card. The last time I got a requested CLI from Amazon was last year, and I was shocked that I got only $300 or so. So far this year, I received one auto CLI of $400 a month or so after I had been denied when I requested one. I tried for one with Amazon and with Walmart last week, and was denied.

I also have JCP, which has always been good with CLI. I don't request increases often because I use the card just once -twice a year. Still, I usually get increases when I request them. About 3 years ago, PayPal took away my ability to even request increases. I rarely got small auto increases in that time, and then last year, I got two auto CLIs totaling $3400.

So, I do not know what to expect from GE these days - It might be that I just need to wait until they give me auto increases.

I am so close to getting all of my cards at least $5000; JCP and Walmart are very close. Amazon, along with Firestone, lag behind. At this point, I think it will take a minute to get Amazon there, unless GE suddenly gets generous with it the way they did with the PayPal account last year. I thought I had GE figured out, but looks like they have changed the rules.

Re: NO Love From GE Capital Again

zerobacan — Sun, 29 Sep 2013 18:58:18 GMT

@masscredit wrote:
@zerobacan wrote:
I have GE accounts since Jan and Feb this year

and I started in the 200 -300 CL

then at the 4 month (April- May) mark Credit solution bumped me into the 500 -1000 CL ranges for my Amazon, Wally, Smart Conenct and JC penny then I got stuck until a week ago

I have 5k Amazon, 2k Jc Penny, 4k Smart Connect 2.1 Wally

The key here has been use it as much as you can. I ve gone up to 20- 30% of the CL and then PIF and bug them....everyday
When you say everyday, how often is to often to try? I'm thinking that I'll see what the letters say, knock my utilization down a few more points (don't think that will matter) and try again in 4-5 weeks.

Everyday since I made my payment, then when the account shows 0 balance, then right before my statement cuts and right after it reports. Finally three days later when TU gets updated with the payment and new balance. remember they always sp TU.

Then I do this for my other 4 GE accounts, so im pretty much calling at least twice or three times per week

last time I got that dreaded love button message. sorry but we cannot... I called the same day and got my Amazon from 2100 to 5000 and paypal smart connect from 2000 to 4000

funny. im in hold for asking a CLI for my Wally card now... currently at 2.1k, asked for 6.... :s

Re: NO Love From GE Capital Again

madmann26 — Mon, 30 Sep 2013 12:17:42 GMT

There have been some reports of GEMB being super finicky since they announced they were getting out of the store card game.

http://wallstcheatsheet.com/stocks/report-ge-capital-to-drop-consumer-finance-unit.html/?a=viewall

It's funny, about 2 weeks ago, I app'd for the Amazon Store Card and was approved with a $1200. They pulled TU only. There really isn't a rhyme or reason as to why/how they make decisions. I think it's really up to the credit analyst you talk to at any given time.

Re: NO Love From GE Capital Again

Anonymous — Mon, 30 Sep 2013 12:34:34 GMT

I think GE just gets funny at times. I have 4 cards with them and most of them have grown quite a bit since I got them a year ago. For some reason, Old Navy gets the least amount of luv and I use that card ALL the time!! I run at least a couple hundred doallrs through that one a month and I pay it as soon as the charge posts. I don't know what their ryhme or reason is. I finally just gave up on the ON card ever being a high limit. It was making me crazy worrying about it all the time and I don't need any extra crazy in my life *lol* I am up for my 4 month increase on my walmart card in about 4 days so I will see how that goes.

I don't know if this will help or not but a few months ago I could not get my amazon card to budge and someone said to call and request the increase after hours and you had a better chance of getting an increase. I called at about 5am in the morning and my cli was finally approved. I don't know why or if it always works but it's worth a shot if you are going to call again anyways. Good Luck!!

Re: NO Love From GE Capital Again

navigatethis12 — Mon, 30 Sep 2013 12:35:57 GMT

Credit scores mean nothing so ignore them when thinking about increases. You said yourself that you have severe derogatory information on the reports and they cited that last time for the reason of decline. I don't believe I've seen people with negatives getting approved for massive increases for these cards. They gave you a chance but that doesn't mean that they are going to ignore the information and the reports and throw limits at you.

Re: NO Love From GE Capital Again

DiabolicallyRandom — Mon, 30 Sep 2013 14:52:29 GMT

I agree that GE can be odd. Every two to three months they auto increase my walmart card by $100. Yet, I have never been given the increase when I requested it. My Gap card has gone from 300 to 2750 with just two increase requests. To be fair though, I rarely use my walmart card.

Re: NO Love From GE Capital Again

FinStar — Mon, 30 Sep 2013 15:11:00 GMT

@navigatethis12 wrote:
Credit scores mean nothing so ignore them when thinking about increases. You said yourself that you have severe derogatory information on the reports and they cited that last time for the reason of decline. I don't believe I've seen people with negatives getting approved for massive increases for these cards. They gave you a chance but that doesn't mean that they are going to ignore the information and the reports and throw limits at you.

This exactly. The presence of any BK on your reports in addition to any other negatives (i.e. tax liens) is definitely going to make it more of a challenge to make any headway with growing those cards.

Re: NO Love From GE Capital Again

SunriseEarth — Mon, 30 Sep 2013 19:57:05 GMT

@madmann26 wrote:
There have been some reports of GEMB being super finicky since they announced they were getting out of the store card game.

http://wallstcheatsheet.com/stocks/report-ge-capital-to-drop-consumer-finance-unit.html/?a=viewall

It's funny, about 2 weeks ago, I app'd for the Amazon Store Card and was approved with a $1200. They pulled TU only. There really isn't a rhyme or reason as to why/how they make decisions. I think it's really up to the credit analyst you talk to at any given time.

It's definitely YMMV. Most on this board seem to think it's business as usual at GE.

As for the OP, I really think the inclusion of multiple PRs is affecting the CLI chances.

Re: NO Love From GE Capital Again

masscredit — Mon, 30 Sep 2013 22:27:26 GMT

I understand that I have some negatives on my CR from a few years ago but the rest of my cards are growing on their own or with me initiating an increase plus I was able to refi my car from 17.1% to the best rate that the credit union offered (1.99%). It's been smooth sailing after hitting a big credit speed bump between 2008 and '10. My credit has been following natural progression and improving accordingly. Well, except for GE. A lot of people on here post about how good they are to work with, generious CLIs and how quickly their cards are growing. A lot of us had a rough time when the economy took a dump so all of those other people can't have perfect credit. I at least expected a little progression over time. Even my two Cap 1 cards which people complain about have been growing nicely.

Re: NO Love From GE Capital Again

Anonymous — Mon, 30 Sep 2013 22:47:03 GMT

OP, how much are you charging per month on the Walmart card? I know there is only so much you can buy from walmart though....my brother was in a similar situation last year and managed to run double the limit for two months and got CLI shortly after. Maybe after the BK ages some more it will get easier...

Re: NO Love From GE Capital Again

masscredit — Mon, 30 Sep 2013 23:08:00 GMT

It depends on the month. I was using it a lot when I first got the card. There were a few months then when I had it within $100. of the CL. Backed off some and only put a few hundred per month on it and took cash back a few times when I cashed out. For all those amounts, I sometimes let the balance report while other times I paid it before the new statement cut. Recently I've only used about $50. - $75. per month. So my use has been all over the place. I have a new Super Walmart in my area so I'm going to start using the card more over there. I can do all of my grocery shopping there.

For my JCP, can't put to much on that with a $200. limit. The balance has been anywhere from $25. to $195. and there have been months with no use.

Re: NO Love From GE Capital Again

creditwatcher2012 — Mon, 30 Sep 2013 23:16:18 GMT

I honestly think it all depends on the CSR and who you get, try(this worked for my 1 month old lowes account) charging your card up to the limit and when it gets close to the cut date request a CLI via credit solutions, it worked for my lowes acct... They bumped it from 300 to 3k and I was caryong I think a 263 balance on it, and my scores are in the 680 range.....

Re: NO Love From GE Capital Again

Anonymous — Mon, 30 Sep 2013 23:23:17 GMT

Wow creditwatcher, that goes against just about all of the conventional wisdom I've read here. Way to go, but I don't think I'd get away with pulling that off!