Going to Call GM Card For Credit Limit Increase. Need Some Advice!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
Dylan1982
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Postby Dylan1982 » Fri May 04, 2012 9:22 pm

CC Deville wrote:Yeah, like I said, I would really give it a little time to see what Capital One does with these former HSBC cards. You will also want to have your balance paid below 30% of your credit line before you ask for the CLI. My main recommendation is to look into another bank like Citibank for a 0% balance transfer. I believe they are offering 18 months. That way you aren't paying interest and it may prompt HSBC/Capital One to increase your limit.

I got two invitations in the mail this week from Citi Bank. Diamond Preferred Card and Thany You Card. You're right, both BT are 0% for 18 mos.

If I call to to sign up, how can I get Citi Bank to do a BT of the balance on my GM card?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


CC Deville
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Postby CC Deville » Sat May 05, 2012 10:33 am

Dylan1982 wrote:I got two invitations in the mail this week from Citi Bank. Diamond Preferred Card and Thany You Card. You're right, both BT are 0% for 18 mos.

If I call to to sign up, how can I get Citi Bank to do a BT of the balance on my GM card?


Oh it is you (I responded on another of your posts, couldn't remember if you were the GM Card guy). If you apply by phone they will request your GM Card account number (but have your billing statement available just in case they ask for the PO Box where payments are sent in). If you apply online, you just enter your GM Card number in the balance transfer section. The first 6 digits of your MasterCard number is called the Bank Identifcation Number (BIN) and so that tells Citibank where to electronically send the payment.

Dylan1982
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Postby Dylan1982 » Thu Jun 07, 2012 1:05 am

Well it's been a month since Cap One has taken over.. I wonder if I should call them up and see if they'll give me a nice CLI??
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

CC Deville
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Postby CC Deville » Thu Jun 07, 2012 5:23 pm

Dylan1982 wrote:Well it's been a month since Cap One has taken over.. I wonder if I should call them up and see if they'll give me a nice CLI??


It is my understanding that for now at least, even though Capital One owns the portfolio, it is still pretty much being run by the old HSBC group. Meaning, it will take years for the former HSBC cards to be fully integrated into Capital One. You will notice that Capital One is even using the HSBC logo under license. Same thing with the ING Direct business. It is still called ING Direct under license and permission from ING NV Groep. Capital One it seems doesn't quite know what to do with all of their recent acquisitions.....

Having said that, have you paid any of the balance down? Try this backdoor number listed for an HSBC credit analyst: 866-551-0258 to see if they can do anything for you. The number should still work because, well, the old HSBC business is very much still in place for the time being. Again, tell that analyst that you are planning a balance transfer soon and you need a higher limit to make that happen. I wouldn't get greedy and ask for $15K right off the bat. Like I said before, ask for $10K and then down the road ask for $12.5K then $15K.

Dylan1982
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Postby Dylan1982 » Thu Jun 07, 2012 8:54 pm

CC Deville wrote:It is my understanding that for now at least, even though Capital One owns the portfolio, it is still pretty much being run by the old HSBC group. Meaning, it will take years for the former HSBC cards to be fully integrated into Capital One. You will notice that Capital One is even using the HSBC logo under license. Same thing with the ING Direct business. It is still called ING Direct under license and permission from ING NV Groep. Capital One it seems doesn't quite know what to do with all of their recent acquisitions.....

Having said that, have you paid any of the balance down? Try this backdoor number listed for an HSBC credit analyst: 866-551-0258 to see if they can do anything for you. The number should still work because, well, the old HSBC business is very much still in place for the time being. Again, tell that analyst that you are planning a balance transfer soon and you need a higher limit to make that happen. I wouldn't get greedy and ask for $15K right off the bat. Like I said before, ask for $10K and then down the road ask for $12.5K then $15K.

Yeah I got all new letters in the mail letting me know about the merge that had happened.

As for the balance, yes I've paid it down. Significantly, not quite, but still making my more than minium payments and also started using the card a little bit to get show some activity with the card.

I usually call the number that's listed on my card, the number that you provided what exactly does this do? Is the person associated with this phone number a higher tier CSR than the one listed with the phone number from my card?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

CC Deville
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Postby CC Deville » Fri Jun 08, 2012 9:17 pm

Dylan1982 wrote:Yeah I got all new letters in the mail letting me know about the merge that had happened.

As for the balance, yes I've paid it down. Significantly, not quite, but still making my more than minium payments and also started using the card a little bit to get show some activity with the card.

I usually call the number that's listed on my card, the number that you provided what exactly does this do? Is the person associated with this phone number a higher tier CSR than the one listed with the phone number from my card?


Yes, generally backdoor numbers connect your to a higher level representative that is not bound to general limitations and permissions. This number should take you to a rep that can make credit granting decisions. I would just be honest with this rep and state that you would like a credit line increase. Be prepared to provide income information and the reason for the request.

Again, not to discourage you, but HSBC and Cap 1 are both stingy with increases.

Did you ever apply for one of those Citibank cards? I can't remember.....

Dylan1982
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Postby Dylan1982 » Fri Jun 29, 2012 8:00 pm

Can you believe this. I finally today decided to get around to asking for my CLI. I by passed the CSR and asked to speak with an Acct Manager. I just basically told him if at all possible I want to update my financial info as I am making significantly more money back when I first applied for the GM Card in 7/2002.

I told him have been a loyal customer for a DECADE, never made a late payment in the 10 yrs of having the card, I make more than the minimum payment. blah blah blah.

So I finally said yes let's go for a credit limit increase..... He comes back.... DENIED!!!! WTF are you serious??? That same day, I had gotten approved with CitiBank for 2 card at 4,600 CL each..

I am SOOOOO DONE with GM Card!!!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Postby Dylan1982 » Sat Jul 07, 2012 3:51 pm

Hey CC Deville, I thought you would get a kick as to why GM Card denied my CLI.

Then sent me my rejection letter, it says my score is a 727 (not sure which bureau they used?) As a week earlier my credit score is a 676 with Trans Union.

Anyways, here is why I was denied..

Payments are low compared to balance owed. Balance in relation to amount of payments number of inquiries

Say what? In english, lol...
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Sat Jul 07, 2012 4:17 pm

Dylan1982 wrote:Hey CC Deville, I thought you would get a kick as to why GM Card denied my CLI.

Then sent me my rejection letter, it says my score is a 727 (not sure which bureau they used?) As a week earlier my credit score is a 676 with Trans Union.

Anyways, here is why I was denied..

Payments are low compared to balance owed. Balance in relation to amount of payments number of inquiries

Say what? In english, lol...


Basically what they do is use software to determine the amount you pay each month on your credit cards, compared to what is owed. So, if you owe 7,600 on a card and only pay $53.00 a month, then it would stand to reason you do not make as much as you state. The amount paid, or the percentage in relation to the amount owed/financed, is not high enough for them to consider the "request". They also know you were just approved for $9200 of new credit, so why on earth would you need an additional $7700 in credit?

The second statement basically means you have too many inquiries on your report(s). Keep in mind that GM as your crediting agency probably gets your report every single month as a "soft inquiry" and while they say that can't use that against you, they still know how many times you apply for credit and they keep it in their very secret database. There is internal coding that is used on customer accounts that flags/alerts the representative when you call in. For instance, your account could be flagged that you "Always needs to speak to supervisor" immediately. Not exactly the friendly call you want when you have been dealing with other upset customers all day long.

So you're done with them. Great. Do those balance transfers like I suggested and leave that card alone. Don't close it and don't get emotional over a credit line increase that you don't even need. Hundreds of people read these posts and forums and probably will stay away from that company.
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Dylan1982
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Postby Dylan1982 » Sat Jul 07, 2012 7:01 pm

Yes I am DONE with The GM Card. It was just intresting as to why I got denied.

Yes my CLI was $7,700 dollars, I owed $7,2xx and I paid $170/month to the card. The minium was $140. Granted $30 is not a lot, but it is more than the minium payment.

As for the second statement. I'm not sure if they could have seen that I got 2 new card for a total CL of $9,200. I did all the 3 inquiries with in 3 days of one another. And I didn't want a $7,700 CLI, I had asked for $2,500 for a CLI.

Ohhh well like you said, I am done with them.. I hope others will not go with The GM Card based on my experiences.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)



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