I've heard accounts getting closed as early as 3 months. How did you find out that your account was closed? Did you receive a letter from GEMB stating the reason as to why they closed your account?

Sg, did GEMB close your Lowe's account for inactivity? Keep in mind that GEMB is a subprime lender and they do not issue large initial CL's.

HJM,

The last time i used Lowes was in Feb. for 49.00. The credit line was for 500.00, Old Navy and Gap cl was 500.00 as well, they did not close those two just reduced the cl. I used old navy and gap last month before the cld. I guess they will come after my JCP and Walmart in which I pay in full each time I used them.

Sg, did GEMB close your Lowe's account for inactivity? Keep in mind that GEMB is a subprime lender and they do not issue large initial CL's.

I remember that name, just don't know what they are all about. Remind me

Meya,

Home Shopping Network......Like QVC, GEMB had already cld my Dillards, Gap and Old Navy.I am still shocked about them closing my Lowes. It's s good thing I did not try to use it. I did not receive any correspondence indicating they were going to CLD or close them. Now I am scared to use my Pennys and Walmart card, which they gave me a cli on walmart in Jan. They don't give you that much credit line to begin with.

I am glad HSN got away from them.

I remember that name, just don't know what they are all about. Remind me.:

My Lowes was completly closed, how long I don't no, Just checked a few minutes ago. I am so glad I did not carry a balance with them. I really don't no how to feel, maybe I am in shock. This is so crazy, I guess they will close my Pennys without my knowledge too. I am glad HSN got away from them.

That is when they were giving me my cli's. As soon as GEMB took over, cli's is nearly impossible.

I can't believe all the craziness going on with GEMB. They are really burning their bridges wit all their current customers. And the sad part is; didnt they also get a bail-out from the gov? These companies are going to lose all their customers if they dont change their ways soon....

The problem i read last year was that GE tried to sell off their credit division but there were no takers so they took a look at Amex and went that route (cld's) to keep the loses to a minimum but in the process penalizing good paying customers.They cld my chevron card because as i used the card,I would pay the balance off before the statement cut so they must considered me what i heard in other places a " deadbeat customer" but even thought when chevron ran their own card(higher minimun payment with a higher balance)at least they were very generous with cli every couple of months.

I felt exactly like you a few months ago when gemb cld my account for no good reason so i closed all three of them (took a small not big hit to my surprise) but i recovered quickly and got a Citi card in the process.I am through with gemb products and even though hsbc is tight with cli, even they have shown me some luv on two of my account with them.

I can't believe all the craziness going on with GEMB. They are really burning their bridges wit all their current customers. And the sad part is; didnt they also get a bail-out from the gov? These companies are going to lose all their customers if they dont change their ways soon....

Well just checked my account with Lowes and they lowered my limit to what I owed on the account. $87.00 down from 500. This comes a couple of weeks from Jcpenny doing the same exact thing. I knew paying down my balances would do this crap and nobody can tell me different because I have been a loyal customer, never late once on both accounts but this is what I get for it. I'm through, I don't care what it does to my credit
score but I will close these accts asap. What am I supposed to do with a joke of a limit their giving me now. No sense in having a card like that. These companies are going to be looking real stupid when nobody wants to get a card from them if and when the economy picks up.

I will never get another acct with gemb, EVER!

I felt exactly like you a few months ago when gemb cld my account for no good reason so i closed all three of them (took a small not big hit to my surprise) but i recovered quickly and got a Citi card in the process.I am through with gemb products and even though hsbc is tight with cli, even they have shown me some luv on two of my account with them.

Oh my God! Are you serious? They know dog-gone well that you can do nothing with a limit like that in their store. What do they expect for you to purchase, some nails or tape? That is not even worth having the card. Huuuuuum, now that makes us think, "SHOULD WE KEEP OUR BALANCES HIGH IN ORDER TO KEEP OUR LIMITS HIGH?" This is a question that I want to ask myself, and I totally agree with you on GEMB. I just clicked the luv button for a cli from them the other day. I got denied, but now I am thinking did I put a red flag up by causing them to slap me with a fat cld? They are coming, I know they are, I just don't know how far down the list I am in. If it happens, I am going to be just like you, GOODBYE! I don't want to deal with a creditor who is lowering my limit due to economic reasons and I am still paying you through it all. I am suffering too, but did I give up like I did before? No! I kept my word.

Well just checked my account with Lowes and they lowered my limit to what I owed on the account. $87.00 down from 500. This comes a couple of weeks from Jcpenny doing the same exact thing. I knew paying down my balances would do this crap and nobody can tell me different because I have been a loyal customer, never late once on both accounts but this is what I get for it. I'm through, I don't care what it does to my credit
score but I will close these accts asap. What am I supposed to do with a joke of a limit their giving me now. No sense in having a card like that. These companies are going to be looking real stupid when nobody wants to get a card from them if and when the economy picks up.

I will never get another acct with gemb, EVER!

You are correct as to them peaking at how well you are doing on your other accounts, I had mentioned that (I believe in this thread) when my sister JC penny account was lowered because of how she managed her other accounts, not just theirs. They got her for having high utilization, and I think that is crazy, but what could I say? Nothing but try to keep mines low as possible. Its a battle but I am slowing getting there.

You know Citibank told me the same thing, they would have offered me a card, but the one baddie that I have left updated on my credit report less than two years ago and that my utilization was high. During that time, my util was not really high and If I could have just paid down at least 4, along with the baddie not being there, i know they would have shown me some love.

As you and I both know, creditors has their own method of why and why not they are decreasing, increasing, approving, or denying credit, the only shocker that I am running across is why they are decreasing on those who are faithfully paying them, and have not defaulted with anyone on their Cr. If they felt that person was not worthy of (for example) $1k credit limit, then what criteria did that creditor base them on when they gave it to them in the first place? They are attacking the wrong people.

I am just waiting to be next because when I was getting my cli's, I had high util and was paying it right back off (mainly store cards) but they did not see a reason to decrease me, maybe they saw how I was paying. The same thing is going on now, and I am still getting Cli's slowly but surely, so what is going to be GEMB (The main decreasing company) excuse to take a way from me? They don't have any of my paycheck stubs, so how do they they know if I am worthy or not? I am getting to the point where I am about to say the hell with credit, seems like cash is on main-street now:laugh:. JK, you know i have to have my credit, it feels good to be trustworthy again:relieved:

My guess Meya is that they are looking at the utilization of your other cards to see if you qualify for their cards. Obviously you have to be current on all your cards but the question to be asked is "What is the current break point" when it comes to utilization on your other cards ?

I remember Meya you schooling me as to why I would not get an AMEX for a good while. Imagine my surprise when then sent me the offer. The baddies are still on my Experian but my utilization on my other cards were less than 1%

I think they don't care about how well you pay, I think they are judging by 1. how many cards you currently have
2. Utilization
3. too much available credit
4. or the underwriter has been threaten about his or her position

Smcc put an article out about high credit scores not being enough. So what is good credit, fantasy scores perhaps?