Has anyone gotten a DECENT line from the get go with them?? I applied 700+ score, good income and got 300 lousy bucks
I used to have this card, but cancelled it earlier this year. When I opened it my score was in the mid-600 range. I got $700; they never increased it.
I applied for my Home Depot card in May of this year with a 680 fico and was also approved for a $300 credit limit. I called them and asked if it was possible to get a C/L increase without generating a another hard inquiry, and was told, "No Way", 3 different times in 6 months of having the card. After 6 months, in the beginning of Nov, I called again and was told the only way to get an increase without a hard inquiry was to request a one time,temporary C/L increase because the item I was contemplating buying would put me over my existing C/L. So, after getting this guys employee number and phone extention and more assurances from his supervisor that it would be soft,I said "Go ahead and try". He came back in 10 seconds and said "Good news sir,they have approved you for a $3600 C/L and it is also a permanent increase." I wish I could put into words how badly I wanted to dump this card when it only had a $300 limit.My plan was to let it age 12 months and then dump it.Now, it will remain a permanent icon and be a positive in my retail credit mix profile/score. It was a soft A/R inquiry, on experian. VJ
I requested the credit limit increase without hard inquiry for last two years . I started out the initial credit limit with $2000 and they increased my limit to $6600. Everytime I told them to improve my hose and I need to increase the credit limit. They told me I can increase as much as I want to. By the way my account interest rate is 9.9% for purchase as long as the account is good standing. Ron.
Folks, this is far from what I've experienced. I just - LAST WEEK- called in and asked about a CL increase, without a hard inq. The rep asked me how much I wanted - and I said as much as possible, since they repot limits it helps my scores. I was at $11.1k, so I asked for 25% more, or +$2775. She did something on her computer, and came back to me with "the system will let me go up to $15,500... will that be OK for you?" I started with a "pre-approved" card at $1,250. 6 months later - $2,500 12 months later - $5,700 18 months later - $8,000 24 months later - $11,100 30 months later - $15,500 My TU score is 660, they peek at TU and EQ every 4 months or so. I only use it for their 0% deals (and they do those frequently), so it's free money (just make sure you pay it off before it expires, or the interest is backdated to the original purchase date). I would keep trying. Their rules seem to require active usage of the card, no lates/overlimits, and 6 monthe between CL increases. Good luck, mj
I also received a pre-approved $1250 offer. After 6 months, it was automatically increased to $1750. 6 weeks later, after reading a suggestion on this board, I requested an increase via the automated system. Only requested another $350 to $2100, and it was approved immediately. I saw later on my CR that it was a soft inq.
My score was in the Mid 600s when I applied and they never increased my lousy 300 dollar limit, so I closed it. I told the rep, their 0% interest was for purchases of 299 or more, so how was I supposed to take advantage of that. They said they understood, closed my account, and my score went up!!!!!
Re: Home depot Card Increase I just called the customer service for requesting the limit increase. The automated system transferred to the live person and he asked me how much did I want to increase. I told me I wanted my limit up to $8000 and it came back approved. I have done numerous of times for last two years. Now my account limit is increased to $8000 and it is so easy to ask for increase. The APR of theaccount is 9.9% APR. This is the last account that I wanted to dump. Ron.
Re: Home depot Card Increase Monogram is indeed part of GE Capital. On October 23, the FDIC's board voted to adopt a new regulation "clarifying" that GE Capital's credit card issuer, Monogram Bank, qualifies as a state bank and can override state consumer protection laws. The FDIC has repeated tried to intervene in the ongoing case against GE's Monogram, and has been rebuffed. Now, the FDIC simply adopts a rule, to allow GE's Monogram to evade the Louisiana interest rate cap. That's not electrical power -- that's political power...
Re: Home depot Card Increase In December 1997, General Electric applied to the Office of Thrift Supervision to convert GE Capital Consumer Card Co. from a limited purpose state commercial bank to a federal thrift charter. The New York Times of December 25, 1997, at D6, reported that GE Capital said â??that a Federal savings and loan charter would allow the bank, the GE Capital Consumer Card Company, to offer a wider array of banking services.â? See also Investorâ??s Business Daily of December 26, 1997, at A1: â??The financial unit of GE said that a federal thrift charter would allow its state-chartered GE Capital Consumer Card bank to offer a wider array of banking services. If OKâ??d, the new thrift would also benefit from the Office of Thrift Supervisionâ??s ability to pre-empt various that laws...â?. But GEâ??s application tothe Office of Thrift Supervision stated that would be no change to GE Capital Consumer Card Co.â??s current CRA Statement (or presumably CRA assessment area), and beyond that confined all discussion of CRA to a confidential exhibit. Inner City Press/Community on the Move, and the Inner City Public Interest Law Center (together, "ICP"), seeing this, both opposed the proposal and requested the withheld CRA information under the Freedom of Information Act.. What is apparent is the GE is simply trying to get a thrift charter, and its powers, including powers to preempt state laws, now, before Congress passes a law closing the unitary thrift holding company loophole. See ICP's overview on the numerous thrift charter applications by insurance and other companies currently pending at the OTS, on ICP's CRA Hot Issues page. See also the OTS' conditional approval of Travelers, FSB's charter application, where, after protest by ICP and the Delaware Community Reinvestment Action Council (DCRAC), Travelers took on a CRA duty everywhere it does business, in 44 states. While Travelers Group is perceived as â??a big insuranceâ? company, whereas GE Capital is perceived as â??a non-traditional [prospective thrift] owner,â? this application is quite similar to Travelersâ??. It is similar because it involves the proposed conversion of an existing state-chartered bank, that has heretofore focused on credit card lending; furthermore, just as the state-chartered Travelers Bank was affiliated with a large mortgage lender (Commercial Credit), GE Capital Consumer Card Co. is affiliated with an very large mortgage lender: GE Capital Mortgage Services (â??GE Mortgageâ?), the lending patterns of which are analyzed below. Furthermore, just as the complexity / diversity of the Travelers Group gave rise to a number of consumer protection conditions in the OTSâ??s Travelers order, it is important to note that GE is even more complex and diversified than the Travelers Group. GE is the worldâ??s largest company / conglomerate by market capitalization (Reuters of February 2, 1998, 7:37 a.m.). Through GE Capital, GE offers â??a broad array of financial services including consumer financing, commercial and industrial financing, real estate financing, asset management and leasing, mortgage services, consumer savings and insurance services, specialty insurance and reinsurance.â? GE Form 10K at 2. GE Capital also offers satelite communications. Even broader (and requiring even more scrutiny and conditions than Travlers), GEâ??s products include lighting products, appliances, industrial automation products and components, motors, electrical distribution and control equipment, locomotives, power generation and delivery products, nuclear reactors and nuclear power support services, commercial and military aircraft jet engines, materials including plastics, silicones and superabrasives, and â??a wide variety of high-technology products, including products used in medical diagnostic applications.â? Id. Those are (some of) GEâ??s products; here are some of its â??services:â? computer-related information services, network television services (through NBC), etc. GE is not only a â??non-traditionalâ? proposed owner of a federal savings bank -- it is a uniquely diversified conglomerate, the largest in the world by market capitalization. Detailed firewalls and consumer protections would be needed if this application were to be considered for approval; none are discussed or proposed in the application as provided to ICP. ICP will be commenting further on this issue, after it receives the portions of the application that have been withheld from it. ICP has also prospectively requested copies of GEâ??s amendments and/or supplements to the applications. * * * * GE CAPITAL MORTGAGE SERVICES GE Capital Mortgage Services (Respondent ID # 3002310011; based in Cherry Hill, New Jersey) is a major nationwide mortgage lender, having originated 28,964 HMDA-reported loans in 1996. For fully 9,379 of these loans, GE Mortgage reported â??race not providedâ? -- a presumptive violation of HMDAâ??s requirement that lenders request and report race, national origin and other information as to all loans and applications. Indicative of GE Mortgageâ??s lending patterns, in 1996 in the Long Island, New York MSA (MSA 5380, consisting of Nassau and Suffolk Counties), GE Mortgage made 346 mortgage loans to whites -- and only 11 such loans to African Americans, and only 6 such loans to Latinos. That is to say, in this MSA in 1996, GE Mortgage had a 2.33 times higher market share of loans to whites than of loans to African Americans, and a 2.9 times higher market share of loans to white than of loans to Latinos. Whereas GE Mortgageâ??s denial rate for the application of white was 18%, its denial rate for the applications of Latinos was 50% -- that is, a denial rate disparity of 2.78-to-1, compared with the industry aggregateâ??s denial rate disparity in this MSA of 1.54-to-1. By any measure (market share AND denial rate comparisons), GE Mortgage is a racially disparate lender, in this New York MSA and elsewhere. For example, in the New York City MSA in 1996, GE Mortgage had a denial rate disparity between Latinos and whites of 2.37-to-1, , compared with the industry aggregateâ??s denial rate disparity in this MSA of 1.57-to-1. Issues exist as to GE Capital Consumer Card Company itself. See, e.g.: --CardFAX of September 10 and 13, 1996, regarding GE Capital Consumer Card Co.â??s policy of charging a $25 so-called maintenance fee to cardholders who do not pay at least $25 in annual finance charges on the GE Rewards MasterCard; --Newsday of September 22, 1996, at F3: â??GE Card Fee is No Reward;â? --CardFAX of January 29, 1997, describing proposed legislation in California that â??would bar credit card issuers from charging customers who pay off their balances, a response to a GE Capital Consumer Card Co. policy announced last September;â? --Credit Card Management of February, 1997: â??GE Capital Consumer Card Co. drew negative press when it decided to charge a so-called maintenance fee of $25 to convenience users of its supposedly no-annual-fee GE Rewards MasterCard (â??Those Naughty Nonrevolvers,â?? December 1996).â?
Re: Home depot Card Increase Well I'll be damned after further investigation, I found out I work for the law firm that handles them!
Re: Home depot Card Increase My experience with GE Capital: 1995: Macy's charge-off $396 2001: Offered Walmart credit card - $250 limit. Later increased to $300 without asking. Asked for increase in November and was declined. 2001: Received offer for "Ultimate Electronics" credit card. Line of credit "up to" $4,000. 0% financing on all purchases before 12-31-01 until 1-3-03. Approved instantly for $4,000. Go figure.
I just applied for the Home Depot card because I was promised 'interest free financing for 6-months on $6K worth of carpet'. My wife and I have great credit. They approved it for $500. I see this is typical, and they play the '10-days to process a payment' nonsense. I am canceling it tomorrow, and will just buy similar carpet from Loews. Disgusting.
I guess they will advertise anything just to get you in the store and look around, and it turns out to be nothing. How can you buy carpet with a $500 budget? Thanks! Heather with BoostMyScore.NET
Did you try calling and asking for the CLI for the amount of the carpet? That is what a lot of people have been saying works, not sure if it would work on a new account, but it's worth a shot...
