Here is the copy of the denial letter.
@Ron1 wrote:
@FinStar wrote:
@Ron1 wrote:I finally got a decision for my Ebates Visa Signature Card. It was denial due to the total amount of active GE cards I have. They told me to call the underwriting dept if I want the card. The option to get the cards by closing the cards or reducing credit lines on existing accounts. What do you think?
Ron.
Hmmm, this is a toughy. How many active GE CCs do you have and what are your combined CLs for all. Any specific one from your collection that you would be willing to part ways or lower the CL somewhat?
I have too many.
I think I can let them to close ShopNBC, Chevron, may be Lowes ( I already Lowes Amex ).
Ron.
I closed my ShopNBC once they downgraded it from MC to the plain store version over a year ago. Is your Chevron a Visa? I would say the Lowe's could be an option is there is duplication in financing offers or if you haven't used your Lowe's in a while. How close are you to the $100K GECRB threshold?
@FinStar wrote:
@Ron1 wrote:
@FinStar wrote:
@Ron1 wrote:I finally got a decision for my Ebates Visa Signature Card. It was denial due to the total amount of active GE cards I have. They told me to call the underwriting dept if I want the card. The option to get the cards by closing the cards or reducing credit lines on existing accounts. What do you think?
Ron.
Hmmm, this is a toughy. How many active GE CCs do you have and what are your combined CLs for all. Any specific one from your collection that you would be willing to part ways or lower the CL somewhat?
I have too many.
Ron.
I closed my ShopNBC once they downgraded it from MC to the plain store version over a year ago. Is your Chevron a Visa? I would say the Lowe's could be an option is there is duplication in financing offers or if you haven't used your Lowe's in a while. How close are you to the $100K GECRB threshold?
No, it is not Chevron Visa ($2500). I have had the card since 2002 (when they were issued by Chevron). I don't really need the Lowes. I hate to lose the history. I opened the account in 1999. I don't know. I think it is pretty close to $100K. I think I can give up Gap card. I already have Old Navy Visa.
Ron.
Sorry to hear that, Ron. You may need to find out how much you need to close for them to open an Ebates card. Closing your ShopNBC card sounds like a good idea unless you use it a lot. Lowes gives 5% off to cardholders, so it might be worth keeping if you shop there. I'm not sure if the Lowes Amex does the same.
Maybe give them a call and find out how much CL you need to make available for them to open an Ebates card, and then decide. You can always tell them you need to give it some thought and call back later, so you don't necessarily need to decide right then and there. You might be better able to make a decision if you know how much of your CLs they want available.
@bichonmom wrote:Sorry to hear that, Ron. You may need to find out how much you need to close for them to open an Ebates card. Closing your ShopNBC card sounds like a good idea unless you use it a lot. Lowes gives 5% off to cardholders, so it might be worth keeping if you shop there. I'm not sure if the Lowes Amex does the same.
Maybe give them a call and find out how much CL you need to make available for them to open an Ebates card, and then decide. You can always tell them you need to give it some thought and call back later, so you don't necessarily need to decide right then and there. You might be better able to make a decision if you know how much of your CLs they want available.
That's ok. Lowes Amex Business Card gave me 5% cash back and it doesn't offer no interest financing like Lowes Card. I need to think which card to close. I think I can close ShopNBC, Chevron, Gap (already got Old Navy Visa), Lowes for now.
Ron.
Hopefully that will be enough, good luck!
@Ron1 wrote:
@bichonmom wrote:Sorry to hear that, Ron. You may need to find out how much you need to close for them to open an Ebates card. Closing your ShopNBC card sounds like a good idea unless you use it a lot. Lowes gives 5% off to cardholders, so it might be worth keeping if you shop there. I'm not sure if the Lowes Amex does the same.
Maybe give them a call and find out how much CL you need to make available for them to open an Ebates card, and then decide. You can always tell them you need to give it some thought and call back later, so you don't necessarily need to decide right then and there. You might be better able to make a decision if you know how much of your CLs they want available.
That's ok. Lowes Amex Business Card gave me 5% cash back and it doesn't offer no interest financing like Lowes Card. I need to think which card to close. I think I can close ShopNBC, Chevron, Gap (already got Old Navy Visa), Lowes for now.
Ron.
IMHO - hold on to the Lowes if possible. ShopNBC, Chevron and GAP can be closed if you prefer. What are the aggregate limits for those 3? What kind of CL are you looking for the Ebates Visa Siggy?
@FinStar wrote:
@Ron1 wrote:
@bichonmom wrote:Sorry to hear that, Ron. You may need to find out how much you need to close for them to open an Ebates card. Closing your ShopNBC card sounds like a good idea unless you use it a lot. Lowes gives 5% off to cardholders, so it might be worth keeping if you shop there. I'm not sure if the Lowes Amex does the same.
Maybe give them a call and find out how much CL you need to make available for them to open an Ebates card, and then decide. You can always tell them you need to give it some thought and call back later, so you don't necessarily need to decide right then and there. You might be better able to make a decision if you know how much of your CLs they want available.
That's ok. Lowes Amex Business Card gave me 5% cash back and it doesn't offer no interest financing like Lowes Card. I need to think which card to close. I think I can close ShopNBC, Chevron, Gap (already got Old Navy Visa), Lowes for now.
Ron.
IMHO - hold on to the Lowes if possible. ShopNBC, Chevron and GAP can be closed if you prefer. What are the aggregate limits for those 3? What kind of CL are you looking for the Ebates Visa Siggy?
ShopNBC ($2800), Chevron ($2500) and Gap ($4500). I think it would be enough for Ebates Visa. I am looking something over $5K. I usually use the card at Ebates.com
Ron.
@lg8302ch wrote:
Do you mind to reveal the % of CL with GE compared to your income? I am trying to find out if at 50% or higher exposure with the same lender limits are reached or even before. Hope you don't mind me asking?
I don't think it is debt to income ratio. I have too many opened accounts with GE Capital.
Ron.