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Gm card and Corvette cards are pissing me off!!!


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Well I have a 718 fico.

Yesterday I got a Blue AMEX for $2000 with 9.99 Fixed.

I also applied for the GM and Corvette mastercards. Well this pisses me off. They were both approved for $600 each. That is BS so I called both of them to cancel the application. First I call GM and they say that I cant cancel and they have no way to review the appication to try and give me a bigger limit. BS. I tell them that I do not have to accept a loan that is offered to me in this country and they say that I can only cancel when I get the card in the mail and it will report as an OPEN/CLOSED account to the agencies.

So I call Corvette. (SAME BANK MIND YOU). The lady was very nice and said she would review my account. NOTHING. She comes back and says even with my high score that she cannot up the limit. I say I want to cancel and same thing.

Where in there terms (cause I have read them again and again) or where in this country does it say that if a loan is OFFERED to you then you must accept and can cancel later?

Am I way off base here? I dont want both cards cause the more cards you have on your credit the worst it gets when you need a different loan. Plus with my credit I feel $600 is an insult. Do I have an any hope to not get them to report or what should I do?

THANKS!

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It sounds like a procedural issue. They may in fact, not have the ability to perform your request through the department you spoke to.

When you get the cards in the mail, they are not activated until you call in, so there's nothing to say you can't send them back with the letter of closure.

Stupid I know, but they may have their hands tied with what they're authorized to do - that comes from the top floor.

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Well, we'll see what happens. I've returned an unactivated card with a cancellation letter and they've never showed up on any of my bureaus.

As far as their terms, even if you "agree" to their terms there is always an out, and always something you can do. Whether it be contacting their executive offices, mitigation procedures, or flat out litigation. You only have to abide by those terms if you want to remain a member of their service.

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Yeah and NOWHERE in there terms does it say that you have to accept the loan if it is approved when you click submit.

I have read the agreements, HAVE YOU creditgrantor?

By saying what you just said, mean that if someone offers you a line of credit , then you have NO CHOICE but to accept it.

Interesting that when I applied for AMEX BLUE, after I was approved, I was then asked if I wish to ACCEPT the loan. That is how it SHOULD BE.

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  • 2 weeks later...

The same thing happened to me. I applied for Corvette, Union Plus, and GM. GM gave me only a $1000 limit. I called when I got the card (before activating) and asked for an increase. The woman said ok, but told me a very high interest rate. I said I didn't want it at that rate and I wouldn't be activating the card, and to please cancel it. She said ok. Of course they reported to credit bureau as lost/stolen account, so I disputed with the credit bureaus. They came back verified, and since I had 2 other household accounts posting, all 3 managed to get screwed up so I couldn't tell which was which. They are now all posting differently on all 3 credit bureaus. I finally gave up trying to get them straightened out, but except for one that I managed to get it deleted, the closed acct is showing as closed lost/stolen, and no idea if it impacts score or not.

You could always dispute them when they show up on your report, but judging from what happened to me, I can't promise positive results :( Good luck.

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Sorry for late late response. Holidays and all.

I will definetely dispute it if they report it. I never activated either. That will follow with a letter requesting Household to remove the TL's and then followed if nothing at that point by an intent to sue. Well see and I predict this will take some time.

First well see if they report but nothing yet on any of the reports.

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Check with CALAWYER, ... but.

I believe to enter a contract: .... which I believe a loan is, you have to take part in what is called OFFER AND ACCEPTANCE.

They, the credit card card company are making an OFFER but you have to ACCEPT the offer. So you might look for something in the contract that states you accepted the offer. There is also a cooling off period in contracts, so even if you accept, you have a time to back out. Check with call lawyer and look up 'offer and acceptance credit cards' on the internet

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Same thing happened here.

Had a BofA card that I never called to activate. (This was my second card with this bank and I changed my mind). I disputed the card with the rep over the phone and to make a long story short, It popped up on my credit report as being closed as per consumer request. After disputing with the CRA's it came back as verified.

I let it go at that point as I have another active account with BofA and I didnt want to push too hard right now.

It lowered my FICO score (age of accounts), and I was very annoyed at that. :evil:

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