CLI to $14,000 from Care Credit just 2 days after initial app.

[Anonymous]

Just wanted to give some incite on GEMB.

I have never had nor applied for a GEMB account prior to last month.  I app'ed for Rooms to Go and got instant approval for $6500.

This month I app'ed Care Credit asking for $12,500 and was instant approved.  I had 6 new accounts and about 4 inquires (they pulled EQ) at the time of Care Credit app.

The Care Credit approval said that after 48 hours I could call in for a CLI.  So I did.  They asked how much CLI, I asked for $1500, they approved so new CL is $14,000.

*** HOWEVER, my DW app'ed yesterday and was DECLINED her for any amount.  She has 752 FICO, no baddies, low utilization, CL's as high as $10k, 12 year file, 4 year AAoA and 6 figure income.

The only thing I can see as the possible reason for this is that she has had a PayPal Credit account for the past 2 years.  It has a measly $300 CL.  She has never had a late payment, usually PIF, but did go over limit once by accident. 

When she got this account she was still rebuilding and her credit was not so pristine.  So I am thinking that the combination of having a previous account with low CL & possibly that GEMB keeps or maintains some "historical" CR info may influence their decision even though her CR now is perfect.

Anyway, just wanted to pass this on for those of you with GEMB accounts, interested in Care Credit or other GEMB, etc.

Message Edited by txjohn on 07-18-2009 08:49 AM

[Anonymous]

Maybe they were able to cross reference the two of you and became aware of the fact that they had already laid out a healthy CL + CLI to your household in the previous 24 hours and that put the kibosh on her app. CareCredit is kinda flakey in a lot of things they do. So is GEMB. Nothing would suprise me. Sometimes I think they do things by reading tea leaves.

[Anonymous]

I don't think so, because I didn't put in a CLI request until AFTER they denied her, first individually and then with me as her co-applicant.

So after she got that result, I called in and asked for the CLI.  While the CSR was taking my request, she found my other GEMB account (Rooms to Go) and commented on it.  It took her about 5 minutes, but finally came back and approved the CLI request....$12.5k increased to $14k.

So, it would seem that if it were "household" issue, that I should have gotten a decline on CLI or DW should have gotten at least $1.5k.

While my wife was on the phone with CSR, the CSR said "let me see if there is any way I can get this approved."  But after several minutes the CSR said, I'm sorry we can't approve your application at this time, your individual app nor your co-applicant app and you'll get a letter in the mail in 7 to 10 days which will explain this decision to you."

Go figure.

[Anonymous]

Can't wait to hear what the letter says. This ought to be classic! (GEMB gobletygook forthcoming I suspect.)

[mt2va]

Tell your wife not to feel too bad.  GEMB for some un-explained reason just hates some of us.  No other explanation for it.  Currently my scores/income are not as good as hers but I've never been able to get a card backed by them even when my scores were better.  It remains a mystery to me as most of the ones I've apped pull EQ which is by far my best report & I have scores higher than some folks that have been approved by them.  Its almost like I've been blackballed even though I never defaulted on any card backed by them.  In fact the ONLY card I ever had was a JC Penney card when I was in college & I'm not sure if GEMB backed it back when I had it, but if they did it should show a perfect payment history & that I closed it out on my own. 

[Anonymous]

I think I may have found another reason for DW's GEMB issues.  She has a Chevron/Texaco card with a $1.5k CL which I didn't originally realize is GEMB (wasn't GEMB originally).  

The card started out with like $300 back in 2006.  However, this card we used personally and for business fuel expenses and had several additional cards issued and the account was over the limit quite often because of this.  Chevron kept upping the CL as we hit the limits until it finally maxed out at $1.5k CL and the account was transferred to GEMB (CR shows that account was purchased by GEMB from Chevron at some point).  Oh, and we didn't just keep running the balance up without paying it, but in the beginning we would hit $300, so they upped to $400, then next months we hit $400 and they raised, etc.  We generally paid in full, but had between $600 and $1200 per month in various fuel and auto related expenses that we used this card for.

We paid it off and quit using it that way, but that was just 4 months ago, so maybe they didn't like the gas card use previously???

[Anonymous]

txjohn,

Do you mind if I ask what your income is in order to have been given this credit line? I'll be applying in a month or two when most my derogs fall off my CR. Fico score simulator estimates my score will be 726-766 and my monthly income is around $5200. I hope to get at least a $5000 credit line - do you think they'll just laugh at me?

[Anonymous]

---

@Anonymous wrote:

txjohn,

Do you mind if I ask what your income is in order to have been given this credit line? I'll be applying in a month or two when most my derogs fall off my CR. Fico score simulator estimates my score will be 726-766 and my monthly income is around $5200. I hope to get at least a $5000 credit line - do you think they'll just laugh at me?

---

No one is going to laught at you. What you post is quite solid for a $10K+ credit line. You just have to app the right place first to get them to give you that much. Once there you should get more like CL's from others.

[score_building]

cashonlynow wrote:

txjohn,

Do you mind if I ask what your income is in order to have been given this credit line? I'll be applying in a month or two when most my derogs fall off my CR. Fico score simulator estimates my score will be 726-766 and my monthly income is around $5200. I hope to get at least a $5000 credit line - do you think they'll just laugh at me?

you should easily qualify for at least that just based on salary.  of course they may also consider many other factors besides income, including DTI, number of new accts., negs., etc.

[Anonymous]

Thanks for the quick replies! My current score is 664, but the only negative is util according to myfico (something like 84%). Everything else is good/very good. And I actually only have 0-5% util on my open cards. Myfico is picking up a AU balance from DH's card and a CO balance that should be gone next month. I'll probably apply for Care Credit in October or so.

I guess I should apply for a new MC or VISA card too! Right now all I have is Cap 1- $500, Orchard- $500 (just increased to $600), Juniper- $500, JCP- $224. Merrick just closed my $1000 limit account for non-use. Maybe I could get some better cards!