@guydiver wrote:OnTheRebound: Well, I finally got all my ducks in a row, Jupiter and Mars aligned, and hit the Luv Button. No go. I'll get a letter in a week or so. I'll wait to see what it says, but I am pretty sure it will say the increase is outside their guidelines since I already have 10K. I have no problem with that, and I am glad to have it. Just thought I would give it a shot. My GEMB Discover is also at 10K now, so I might have hit the ceiling considering my state of rebuilding and my current scores. No problemo, just gonna keep on keepin on. 800 look out 'cause here I come.
Well, I got the letter in the mail this week. Here's what they said:
"We received your recent request at GE Money Bank for a credit line increase(luv button)on your Lowe's Consumer account. Unfortunately, following an account review, we are unable to increase your credit line at this time.(huh..not a NO not ever?)
Our review and decision were based on information obtained from the credit reporting agency listed below(TU). The following reason(s) indicate credit factors that had the biggest negative impact on your credit score. ( TU 678 12/12/10 myFico quarterly)
1. Present or past delinquency on trades.(true, I have a CO almost 6 yrs old, and a lot of lates 6+ years old)
2. Oldest Bank Revolving or Open-ended account opened too recently.(oldest open CC is 50 months, and it is also GEMB, perfect history)
3. Percent of credit limit used on revolving/open-ended accounts is too high.(around 40% total util.)
Don't think they did a hard pull though. Haven't heard from my TU monitoring(Truecredit).
They also added this:
"Your account may be eligible for a higher credit limit at a later date. We will continue to review your account periodically and adjust your credit limit as your credit behavior and account performance changes. If you have any additional questions regarding your account, please contact us at the number below. Thank you for your ongoing patronage."
So....that's cool with me. Wasn't really expecting anything...but my CR's will clean up very nicely by my 3 yr.anniv. next Dec. with this card. You never know.
