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GECRB/Sams Approval!!!


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14 replies to this topic

#1 stroked89coupe

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Posted 27 January 2012 - 08:03 PM

I asked for 8000.00. I got a decline and called in for a recon while I was still in the store. I talked to a real nice guy in underwriting. He put me on hold and came back and said... ''Did you ask for 80,000 dollars?'' I said... No I asked for 8000.00. (Im assuming the clerk mde a mistake while keying in the application) He said ok hold on while I pull another business credit report. Came back and said he could only do 2000.00 that the business did not have a lot of history available.... I said... I'll TAKE IT!!!



Another approval from GE. Thanks to CMEDIA I was able to get it earlier than expected after he told me of a recent approval and since we had similar files I figured I would give it a shot.. I now am riding with right at 11000 with GECRB! And i'm 4 months away from being two years incorporated!!


Thanks CB!!!



#2 Nocturnal

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Posted 27 January 2012 - 09:55 PM

I asked for 8000.00. I got a decline and called in for a recon while I was still in the store. I talked to a real nice guy in underwriting. He put me on hold and came back and said... ''Did you ask for 80,000 dollars?'' I said... No I asked for 8000.00. (Im assuming the clerk mde a mistake while keying in the application) He said ok hold on while I pull another business credit report. Came back and said he could only do 2000.00 that the business did not have a lot of history available.... I said... I'll TAKE IT!!!



Another approval from GE. Thanks to CMEDIA I was able to get it earlier than expected after he told me of a recent approval and since we had similar files I figured I would give it a shot.. I now am riding with right at 11000 with GECRB! And i'm 4 months away from being two years incorporated!!


Thanks CB!!!



Congrats man!

Did they look at your DNB file or Exp/Eq?

#3 stroked89coupe

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Posted 27 January 2012 - 10:32 PM

To be honest I'm not sure. When he said that he was going to pull another report I asked him if he could pull equifax or experian and then I sadi i'm not sure if you guys usually pull dnb or what..... After that he just asked me to hold. So I'm not really sure.


The reason I said that is because my EQ and EX look way better than my dnb. Nothing has reported from GE on DNB that I know of. But thats not to say they only check with who they report to....




BTW this was for the regular sams Revolving.... NOT the Discover. I didn't want to waste any one's time with that one..... :)



#4 cmedia

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Posted 28 January 2012 - 08:21 AM

Congrats man. It's hard to find revolving credit with no pg.

#5 stroked89coupe

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Posted 28 January 2012 - 09:22 PM

Congrats man. It's hard to find revolving credit with no pg.



It is ..... I only know of like one or two more left. I just applied for one of them which was a Tractor supply Company Revolving card through CITI. Mailed in the app. I guess we will see in the next week how that goes. I already have two accounts through CITI.... Office Depot and Staples. So i'm sure I will get approved just not sure for how much.

#6 stroked89coupe

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Posted 24 May 2012 - 10:03 AM

Applied for a CLI on the revolving account and was denied instantly. She did not even put me on hold. Account is only about 4 months old. Knew I should not have pushed it. I'll wait another two months and try it again giving me a total of 6 months of history. Thats what the rep said to do. Sometimes CB gets the best of me....



#7 BRBiz

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Posted 24 May 2012 - 09:00 PM

Just curious why are you requesting a increase? Do you run it up monthly or just want more money.

#8 bostonte

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Posted 25 May 2012 - 04:47 PM

Anyone applied for either card lately? I'm wondering how common the preapproval at sign up or checkout is -- does my lack of a preapproval pretty much guarantee my business profile isn't up to snuff, or is a preapproval only issued over a certain threshold and there's still a good chance an app would be approved?

I wish I could submit it online. The member services reps at my local SAMs are... special. I don't trust them to properly submit the app without the PG.

#9 stroked89coupe

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Posted 25 May 2012 - 06:34 PM

Anyone applied for either card lately? I'm wondering how common the preapproval at sign up or checkout is -- does my lack of a preapproval pretty much guarantee my business profile isn't up to snuff, or is a preapproval only issued over a certain threshold and there's still a good chance an app would be approved?

I wish I could submit it online. The member services reps at my local SAMs are... special. I don't trust them to properly submit the app without the PG.



I have NEVER received any preapproval for anything that did NOT require a pg. I receive Amex and chase offers for the business all the time and everyone of them requires a pg.

When you do it you need to tell them you want the application to be in the business name only and with no personal gauranty. Do not give them your social. Do not put it on the application. They will ask for your drivers license and or I'd ( as part of the patriot act I think it is??) as long as you do not fill out the pg section on the app then you do not pg the account. Period.


Any other questions feel free to ask. My application was only 4 months ago.

#10 alplouis

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Posted 27 May 2012 - 03:20 PM

Recently I got denied for Sam's Club in-store credit. Called in to GE for reasons why and the rep told me that they could not verify my business address. After verifying my business information with GE this morning I got approved for a $3,000 CL. I'm all in with GE now. I got Amazon, Lowe's, JC penny and now Sam's Club. I'll try for Walmart in 3 months. Or maybe I'll try for Sam's Discover before Walmart. Business credit is alive and well.

#11 BRBiz

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Posted 27 May 2012 - 07:53 PM

Recently I got denied for Sam's Club in-store credit. Called in to GE for reasons why and the rep told me that they could not verify my business address. After verifying my business information with GE this morning I got approved for a $3,000 CL. I'm all in with GE now. I got Amazon, Lowe's, JC penny and now Sam's Club. I'll try for Walmart in 3 months. Or maybe I'll try for Sam's Discover before Walmart. Business credit is alive and well.



It also shows the lack communication within GE and most larger creditors, they should have no problem verifying your addsress since you already have GE cards.
This one of the most common denials and usually a easy fix if you just call.

#12 alplouis

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Posted 27 May 2012 - 08:05 PM

And get this, I spoke with 3 different reps before they could get my file straighten out for approval. I'm not sure what they were looking at but obviously they weren't on the same page. Good thing I called in to get an explanation of my denial. Persistence!

#13 BRBiz

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Posted 27 May 2012 - 08:14 PM

And get this, I spoke with 3 different reps before they could get my file straighten out for approval. I'm not sure what they were looking at but obviously they weren't on the same page. Good thing I called in to get an explanation of my denial. Persistence!



Following up is always a good idea.... Another common reason for denial is not answering the phone when they call to verify certain things.. Usually it will be a failure to verify business as a reason for denial. I always tell people to invest a little money in a monthly answering service, it's good for your business and good for credit. A lot of times the creditors will call to verify info and not get you but if some one answers the phone in your company name in a professional manner that is good enough for them. That has happened a ton of times for me , they will call get the answering service and say they need to verify some info as the message and then I call back that day or next and they say all set it was already approved.

#14 alplouis

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Posted 27 May 2012 - 08:23 PM

That it very true. I never got a call from them. My business is legit.

#15 BRBiz

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Posted 27 May 2012 - 08:38 PM

You got it the man thing in building credit is a legit business.. I'm all for a better verification process, it would only help and loosen the crunch on business credit and legit businesses would be better off.




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