All GE Lovers , Check this out.

[waiter]

Thank you Lexie and pizzadude.

I hope thats the case. 

In worst case, if they close all accounts how it will impact our credit reports and credit scores? given the current overall utilization remains low as it is.

[pizzadude]

The only way that your FICO score could go down is if your revolving utilization increases as a result of losing the credit limits.

[09Lexie]

I doubt they close the accounts. Just CLD if at all. However, if they do close your accounts, on manual review that many accounts by the same lender would not look good.
You might have to explain the closures on recon

[longtimelurker]

90 days seems way too long to freeze a big chunk of your credit!  Have you tried escalating?

[dddewdrop]

    Hi. I think you will be ok. They may CLD you. This should be a warning sign to you however. Once they do what they do in 90 day, I would consider closing a couple cards. I mean you would never wanna use ever 25% of that credit line would you? I would look to lighten up. You haven't done anything wrong and you are responsible people so you don't really have anything to be afraid of. I would try to talk ot someone higher up at GE. Try to get in contact with whoever it was specifically who put the freeze on and discuss it with them. You may not be able to get in contact with that person or group of people, but to me that seems like what your goal should be. I agree with the others that you have a very high overall credit limit and it is probably freaking out GE a bit because as a company you represent a lot of risk to them and they may have just become aware of that now or recently. Good luck. Don't worry.

[patrick00032001]

I had that happen to me about 3 years ago, I requested a credit limit increase on my Care Credit Card, it triggered an internal audit on me with all of their other cards as well, it seems to me at that time, I had to send in a copy of my utility bill, drivers licence and social security card, in fact, the contact name I got from the letter was Darla, and I had to mail all of this to Dayton Ohio! Needless to say, they closed all of my accounts and I had to start all over again! Its a very hard thing to swallow as we build history with these people! Equifax seems to be the bureau of choice for auditing, I know this, as this is what they pulled on me too! I think at the time it was for too many inquires and too many new accounts, after about 2 years, I was able to obtain GE cards again, and have never had another issue since! I hope you guys don't have to go through what I did, just be prepared for it, and best of luck!

[patrick00032001]

BTW, I should probably introduce myself, my name is Patrick, I have been a member of MyFico since late 2008, I normally reside with Finance Globe which is another discussion board that Im more active in, but over the last year or so, I have kinda slid over to MyFico forums, as Finance Globe isnt as active anymore. I live close to Fort Wayne Indiana, I manage a car dealership, and Im also a finance manager, so my experience with loans and credit spread out over a 8 year period, not just with customers, but myself as well! I feel a litte more at ease now that I have broken my silence!

[09Lexie]

@patrick00032001

Thanks for the introduction. Welcome back!

Regarding your closed GE cards, was your credit exposure as high as OPs/DW?

[waiter]

Hi Patrick

thanks for sharing ,  So even you did send them what they wanted, they closed your accounts? and can you please tell me, did GE blacklist you for 2 years? or you didnt bother applying again for 2 years.?

[patrick00032001]

At that time, I want to say, maybe? $3,000-$4,000, it wasn't much, I know after I got approved for my Wal-Mart store card, I went a little crazy and went after every GE card I could get my hands on, I still had fair scores at that time, 630ish to 670's, but needless to say, after I called in to increase my Care Credit is when they got me! The letter was scary, seeing all your accounts closed, and getting a crazy letter freaked me out! But I did what they asked of me regardless, it still didnt go in my favor, but after that, I learned to slow my roll so to speak, once bitten, twice shy, as the saying goes!