Letter from GE - Confusing clues to their innerworkings.

[LS2982]

@ferrari +1 that makes sense as well.

[learnin113]

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@Booner72 wrote:

Requested CLI over the automated phone for Walmart and was denied last week.

Got a letter today.  - Credit score 650.  (TRANSUNION.  This is exactly what my TU08 was last month btw)

Information about your credit score based on internal information used in this evaluation for credit 

*Percentage of times payment greater than amount due over last 12 months on this account."

*Maximum consecutive months there was a balance decrease over the most recent six months of this account."

*Used too much of your credit limit in the last six months"

Then it has the FICO reasons such as Collection, length of time revolving has been established, too many inquiries.

This is the first letter I've seen that gave such detail.  But I have an 800 limit, and ALWAYS paid more than amount due (Using promotional no interest and have to get it paid) - Just paid 350 on the account a couple weeks ago, so now the only thing left is the laptop that I have til January to pay off.  My utility is 40%.  Obviously too much.

Just thought I'd share.  I think it sounds like they want me to pay less, though then they say I used too much credit?

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Wow!  If GE is gonna get that detailed, then I have no where to turn to get normal credit without the hassle.  GE used to be my go to creditor that will issue credit without the hassle.  That's why for the most part...I wait for automatic CLIs.  Give it to me if you wanna give it, the long detailed denials just seem like a slap in the face to me.

[webhopper]

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@Booner72 wrote:

The very day after PIF'ing DH's he got an auto CLI.

They could be saying it either way, I agree, but I don't think so because I've taken good care of that account, and I"m not going to pay a bunch to PIF if it's zero interest anyway.  I'm on a budget and I'm sticking to it, and when we bought the TV/Computer for christmas, those payments went into the budge so that it would be PIF'd long before the 0% expired.  I paid off the TV 3 months before the 0% expired.  WEIRDOS

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Hate to be the bearer of bad news...   My theory is that GEMB / GECRB  HATES when you use 0% interest and then pay it off before the interest hits...  Let me tell my story.

After I bought my first house in 2008, May. I got a Lowes card, through GEMB...  I went to lowes and picked out $6k worth of appliances. The limit on the Lowes card was 3600, 0% for you guessed it, 12 months. I paid cash for 2400, and put the rest on the card.  I did pay it back by Feb of 2009. Then, I needed a new garage door for the house, I ordered the door and the garage door opener, had them install it, paid with the GEMB account, 0% for you guessed it, 12 months.  I paid the garage door off in August 2009. In September of 2009, I go to Lowes to pick out a deep freeze, was going to use my card.   They cancelled my account without warning. I didn't find out until I was literally at the checkout.   

Ever since then, if I've gotten a new GE account, the limits suck!  I opened a Dillards account in 2011, $500 limit.  I opened a Amazon account in 2012, $400 limit. They did a CLD on JCPenneys, from $700 limit down to $124. I got it increased to $600 later. I asked for another CLI on my JCPenneys that's been opened since 2003, CLI denied!....    Seriously GE?  You are weird! 

[Anonymous]

Funny how that works, because from a corporate point of view, you generally want to pay off your liabilities as late as you possibly can, but consumers get penalized for it.