Budsguns through GEMB, specifically GE Money Sport. I applied for 8K and was shot down. 750 score, six revolving cards, no mortgage, one inquiry through Equifax in the last two years and 4% utilization. I just paid off a four year loan for a bike that was still on the books when I applied. Never late and nothing negative. Last card opened was 10/08 and I use/shuffle all the cards so everyone gets something. They denied instant credit(actually they said they were,"processing" my application) and said I would have a mailed response within 8-10 days. Thirteen days later I receive my "Dear John" , thanks but, no thanks letter: The Cliff Notes version follows.
Age of oldest account- The other six cards didn't have a problem
Lack of Mortgage references-I'm not buying a home on time @ this time so why would I need references?
BTW, in case you haven't figured this out I wouldn't finance a lawn mower through GEMB.
Too few accounts currently paid as agreed-WTF!? All of mine are paid @ the end of the monthly cycle before they are due. What they meant to say was, "Too few accounts NOT paid as agreed" so they hopefully could soak me for 21.98% (variable). Never late, no negatives, no charge offs..
Number of credit accounts-OK I have six w/4% utilization. Would you feel better if I had three w/8% utilization?.
After calling them up again the customer service said all they could tell me was to write: Card Services blah, blah,blah, P.O. box Dayton. I was screaming @ the rep, "You want me to send a letter to Oh-Hi-Oh? No one there that can do anything but, tell me to write a letter to a PO box.
I reapplied, instant denied, again. Didn't ask for any amount, Just left it blank. This time it said letter within ten business days. I have a $2500 GEMB card through Paypal that I use rarely on purchases. The last time I used it I tried to register another CC on my PP account so I could use up my acquired cash back from this other card. They let me add the card but, wouldn't allow me to use it. Then they wouldn't allow me to delete the card until two weeks after they collected the money. I never had a CC on the PP account. I transferred the money as always but, they wanted to hang on to the new card as collateral of some type. You can't use your PP card to pay for a PP checkout/payment. They informed me that they weren't a bank. I don't hardly buy anything anymore from ebay so PP doesn't get a whole lot of use. What burns my butt is that I have the money for the merchandise. I purchased w/USPS MO last December. They charge 3% to use a CC however, their GEMB CC is percent free if you pay off in 90 days/6 months/1 year depending.
EDIT: They would still charge 3% surcharge on the total for using a CC they just wouldn't charge a finance fee for the 3/6/or 12 months so long as you maintained the rest of the promotional agreement.)
It would be a lot easier for me to use it instead of going the MO route.
edited to change thread title --this post was split off from "Care Credit? Update" to form its own thread.
For anyone curious, here's a link to the financing. It seems to be called GE Money Sport:
Of course, GEMB is looking for moths, mesmerized by the light at the end of the tunnel, to flutter headlong into the 120 Volt grid of death becoming credit zapped bug soufflé. It would be nice to purchase from Buds with a CC so it goes on my report w/o paying the three percent vig.
"Credit zapped bug soufflé" . . . . LMAO . . . . But, isn't this a graphic description of what ALL ccc's want? . . . . .
After a half a dozen of various phone numbers and departments stretching to Ohio, India and points unknown or not identified I spoke with a lady who claimed to be a supervisor. Their claim of, "too few accounts currently paid as agreed" does not, in General Electric's decision, have to be substantiated. I told the lady that Equifax showed no such evidence to support GE Money Sport account's claim. She tells me that they used Equifax in whole or part. Fine, where is the proof to support your statement?. She tells me that General Electric or their division GE Money Sport does not have to provide any proof of the accusation. I asked her if I wrote the supplied division would I receive an answer: Card Services, c/o Application Processing, OH3-4250, P. O. Box 8726, Dayton, Ohio 4501-8726.
The helpful GE Money Sport representative told me that if I mailed an inquiry questioning the denial letter that I would receive the same denial letter, without any other clarification, in the mail in eight to ten days. What happened to being able to confront your accusers and demand documentation? The very same documentation that they are supposedly using against me. GE Money Sport [edited] apparently performing a GE Money Sport [edited].Your sense of ethics is appalling. GE Money Sport has decapitated a fine American's credit and credibility in effigy by making accusations not subjective in nature and refusing to provide the alleged evidence.