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@ezef3ar GREAT INFORMATION THE SAME THING SHOULD HAPPEN TO HIM AS WELL.
It will trigger "FRAUD ALERT" when you apply many cards from the same creditors. They will close all your accounts. It happened to me many years. HSBC closed all my accounts (Best Buy, CompUSA) when I applied for the third card. They system told me to call a toll free number to verify personal number. That number was fraud dept and analyst. They were rude. I could talk to them to re-open the account. I think many creditors will close when you open too many accounts within a short period of time.
Ron.
OK so I emailed GE Capital Cares, and they basically told me that they re pulled my credit and said I have too many inquiries so they closed all of the credit I was extended (roughly 9k), they then said that the accounts will not be removed and the inquiries will not either. I checked and my equifax took a 53 point dive, my Experian and Transunion have yet to update.
Anyone know of anything I can do to possibly reconcile this, eitrher with GE or just get the accounts removed all together. They all show closed at credit grantors request,
Id email them back and ask them to reconsider at least giving you a chance with at least one account. Your gonna have a hard time on a recon explaining those accounts that were closed by grantor.
Good luck
@Anonymous wrote:OK so I emailed GE Capital Cares, and they basically told me that they re pulled my credit and said I have too many inquiries so they closed all of the credit I was extended (roughly 9k), they then said that the accounts will not be removed and the inquiries will not either. I checked and my equifax took a 53 point dive, my Experian and Transunion have yet to update.
Anyone know of anything I can do to possibly reconcile this, eitrher with GE or just get the accounts removed all together. They all show closed at credit grantors request,
I'm happy they got back to you and at least explained what it was. It is bad if they say you have too many inquaries and they close accounts. I currently have 21 on Transunion a few will come off end of this year and good bit more will come off in 2013 and the best will be off till 2014, so i won't touch an app till 2014.
Probably part of the issue was that a lot of apps were on GE, so the company might have felt the exposure was too great, they might not have been so quick if some apps were for other banks, but I guess a big set of applications without much past history makes them nervous. Waiting a while and spacing makes sense.
@Anonymous wrote:OK so I emailed GE Capital Cares, and they basically told me that they re pulled my credit and said I have too many inquiries so they closed all of the credit I was extended (roughly 9k), they then said that the accounts will not be removed and the inquiries will not either. I checked and my equifax took a 53 point dive, my Experian and Transunion have yet to update.
Anyone know of anything I can do to possibly reconcile this, eitrher with GE or just get the accounts removed all together. They all show closed at credit grantors request,
How many inquiries did you have and what was your score?
I see that you did get approved for Wal-Mart Discover 1.6k CL (that's very good, sad to see they close it)
I would call back and ask to keep 2-3 of the cards, and offer to close the others cards. I would not ask to have all of them re-instated.
I would pick the walmart, amazon, and lowes cards. Explain to them that you requested these cards because you enjoy shopping at this stores.
Explain that you did not understand how credit worked, and that applying for numerous cards would be viewed as a bad thing.
They closed 4 of my accounts too. These were all new accounts and only open for 3 or 4 days. Got a letter in the mail just yesterday saying they were closed because of the number of inquiries and new accounts. Amazon, Walmart, GAP and PayPal. They will not discuss by phone.