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CLD from WalMart Discover/GE


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Typically I keep balances around 40-60% utilization which I do know is too high and I'd like to work on that for 2013.


In Nov/Dec, they did creep quite up to as high as 90% (I know, very high) due to holiday spending and Black Friday but I do make close to $3k/month and was going to use most of that over the next few months towards payments. I have small credit limits (average $3000) and run a business - unfortunately it's easy to get the utilization too high. But I had an aggressive payback schedule in mind. I did max out my $3000 WalMart Discover card, but then made two large payments. One in store for $917 in cash. The second online days later for $343. That brought my balance down to the $1900 zone. I'm paying other cards I have in a similar manner. Tomorrow I have a $500 payment scheduled to Merrick. Then a few days later, another $500 for my regular Discover.


Anyway, today they reduce my WM Discover credit line to $2030. :(


This is my oldest card. I've had a WalMart card since 2008 which converted to Discover on invitation. Always paid on time. Many times in full. I'm not a unprofitable customer - I do pay my share of interest too. My credit report shows 100% of payments on time. I use the WM card a LOT. I run at least $1000 through it every month. I use it for all gas purchases since it saves the 5 cents a gallon.


My negatives: I did have one BK back in 2005 (I was sued in a business deal gone wrong that would have had a judgement against me for $50k...) but ever since, and prior to that, no baddies.


I have never been able to get another GE card for some reason. I applied for Lowes more than a year ago in store and was declined. I applied a few months back for Toys R Us for the holiday season and was again declined. Both letters blamed the BK. Also, before I got the Discover, I was golden with GE and every 4 months was a guaranteed CLI. Ever since I got the WM Discover, no increase at all for any reason. I even called them once and they were just like "sorry, sir, we can't provide increases due to the BK".


The FICO WalMart provides shows my score at 639. The 12 month graph that WM provides shows it ranging from 616 (July 2012; had a bogus collection charge show up on my credit report from a company I did a beta test with and never agreed to any charges; since removed after request for verification) to 651 (Sept 2012).


Just seems like GE just doesn't like me very much. I do plan to continue my payback schedule which will hopefully increase my credit score assuming other issuers don't follow suit and try to reduce limits.


Any advice? Is there any chance for reconsideration with GE? I haven't called/emailed/or anything yet.

Edited by StuffFromDennis
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Talk to an underwriter at 877-379-8173 and ask for a CLI, see what they have to say. If the BK comes up again, maybe they can still manually approve you.


High utilization increases your risk of defaulting on your debt obligation. It doesn't matter how 'profitable' of a customer you have been. I've got three GE accounts at $6000, I've never used more than $200 or $300 of it and never gotten a CLD.


Good luck!

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Have you tried to get business credit cards,


like the Sam's Club Business Discover?


Thanks for the suggestion.


I guess I should look at this avenue of credit repair more to keep my utilization down. I have some. All were obtained during the no-personal-guarantee era from advice here on Creditboards. The Keybank Mastercard, Staples, Office Depot, etc. I have never tried for a business account that actually required my personal guarantee. It doesn't look like my current scores are enough to guarantee approval on any credit line. Sometimes they squeak by. Sometimes they don't. I don't know if it would be any better on the business side. I'm thinking no since it's just a sole prop business and would really focus mostly on my scores.

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Your score is very low, borderline on qualifying for that product in the first place. That along with high utilization across the board is a recipe for disaster.


I wouldn't rock the boat with an underwriter for at least a few months to ensure all those payments show up on your reports and your reported balances have gone down. Push too aggressively with underwriting, and they may decide they would prefer to close the card.


Unfortunately your behavior looks rather risky and spooked them.

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  • 2 weeks later...

Also, GE watches your co branded card, like a hawk when you have a bk on your record. I had a big decrease on my Sam's Discover when the financial crisis hit in 2008/09. I too was denied increases over and over (bk from '05). I have had a couple of auto increases that got back much of the credit line. Raise your score and or lower your utilization. Eventually they will give some of it back.

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