I posted the other day that I got a preapproval for a store called Ultimate Electronics for 0% until January 2003 with a credit limit of "up to" $4,000. The account is offered by GE. I have a $396 Macy's charge-off from GE that I paid years ago, but they verify every time I dispute. The charge-off is due to come off my reports this May. Last March I was sent a preapproval for the Walmart card from GE. I was approved for a $250 limit which they later increased to a whopping $300. I called them last month asking for a line increase to help my ratios. I told the rep I wanted to do some Christmas shopping at Walmart (as if). I was declined. I'd been using the account once a month to show activity and paying about 95% of the balance monthly. I took my Ultimate Electronics preapproval to one of their stores this evening and was approved for $4,000. I figured it would be another $250 approval and I wasn't going to waste the inquiry. As I was shopping around today for some electronics items I was going to buy anyway and pay cash (actually my new Amex Green) for I figured I'd take the plunge. This card has a horrid goto rate (almost 22%!) but I figure I'll use it when I need something and when they are offering promotional financing.
I just looked at Creditexpert and GE pulled Experian. I am going to try the "dispute it before the account reports" thing to see if I can get the inquiry off.
Hummm.. I am fascinated with this GE thing. I pulled out the latest copies of all of my reports and I do not have a promotional inquiry from GE on any of them. This would lead me to believe that the preapproval was purely an internal thing based on my Walmart account.
Well whatever happened CONGRATS on the $4K approval. I wouldn't worry why or how, just be happy it happened. Makes you wonder why they won't increase the WM account though.
Thanks! Figuring out how and why is part of the fun around here though. That's $24,000 in new credit lines in just over 30 days for me. I think I'm going to go into account closing mode next year. My Orchard, Household and Nextcard accounts will all be a year old.
$6,000 Target Visa $9,000 Citi AAdvantage Gold (Converted to Platinum Select Dividend) $5,000 Citi Platinum Select All approved around the 6th of last month. I also got approved for the Amex Green card, but there's obviously no credit limit associated with that card.
