No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Get the 4th statement cut-off CLI while you can kids
Rackham94 What do you mean by that statement.
To me it would indicate the people in this division would be under pressure to keep delinquencies low, customer growth high to maximize ipo demand. I am not sure I would expect big changes until they have pulled a significant portion of money out. If sold in parts or individual card/brand lines then I would expect account reviews and # of cards and total line exposure to get stronger review.
If I had really high limits or lots of GEMB cards I would expect trimming may get done for you in the future. Does that sound rational?
Seems rational of course and your statements are correct in an aspect depicting typical performance when a company sells its segment to another entity.. e.g. Best Buy Rewards HSBC>Cap 1> Citi anyone could get a BBY card back then currently with GE being primary lender ability to increase revolving credit lines to its customers is very feasible due to performance however; I forecast a change in risk assessment and strategy in the future. I may be wrong but it seems like a firm assumption.
I was thinking the same thing. I am curious to see how this plays out. I could see both happening in the short run. Expand credit and customer base to show strong growth but weather now or the near future risk management will look to prune/manage risk exposure. I think one thing is for sure, the game is about to change with the way the GE cards work.
I have none, was looking at getting a Lowes card for some projects but, I just finshed an app spree. ;(
This doesn't necessarily bode any changes to GE lending practices.
They are spinning off the lending division in order to minimize the main company's exposure risk. In other words, they want to goose their stock price higher by jettisoning the most risky part of the business that worries investors.
If any changes do happen in the new spun-off company, they're unlikely to come overnight.
Retail credit is a niche that has to be filled by someone, and I am sure that in the near term they will continue to fill it in much the same way they always have.
Nothing in the press-release-pretty-much-verbatim-quoted-as-an-article suggests otherwise. Fundamentally this is about GE stock price, not about anything being wrong with GECRB per se.
In fact, the analysis here suggests that the real risk is in GE Capital's real estate subdivision, not in the significantly more profitable GE Capital Retail Bank that underwrites all those store cards.
@TheConductor wrote:This doesn't necessarily bode any changes to GE lending practices.
They are spinning off the lending division in order to minimize the main company's exposure risk. In other words, they want to goose their stock price higher by jettisoning the most risky part of the business that worries investors.
If any changes do happen in the new spun-off company, they're unlikely to come overnight.
Retail credit is a niche that has to be filled by someone, and I am sure that in the near term they will continue to fill it in much the same way they always have.
Nothing in the press-release-pretty-much-verbatim-quoted-as-an-article suggests otherwise. Fundamentally this is about GE stock price, not about anything being wrong with GECRB per se.
In fact, the analysis here suggests that the real risk is in GE Capital's real estate subdivision, not in the significantly more profitable GE Capital Retail Bank that underwrites all those store cards.
This makes the msot sense to me.
Asked for an increase on my Walmart store card. Denied. 6th statement from last increase
Letter arrived yesterday. Reason stated: number of inquiries. TU has 1 inquiry on 10 / 2012 from Chase. EQ zero EX zero
CL $3300 Utilities Less the 1 % Walmart credit score 745
Seems like GE is tightening the belt quick.
Some folks have posted that all their GE accounts are frozen and under review.
First CLI request from GE denied for me since 2009.
Looks like changes are already underway.