GM Cards Credit Line Increase

Frequently Asked Questions

When/how will we let you know the decision?

Do I need to wait if I've recently got a credit line increase?

Yes. You aren't eligible to get a credit line increase, if you've received an increase within last 90 days or have got onboarded as a GM card customer in the last 90 days. This way we are able to consider updates to your GM Card account history and credit history over a longer period of time, and hence able to better evaluate you for a credit line increase.

Why was my credit line increase request declined?

How will you evaluate my credit line increase request?

We will review your GM Card account history including your spending and payment history, along with any updated credit bureau (TU) information we’ve received as part of servicing your GM Card account. We consider a variety of factors in evaluating any credit limit increase, including:

- Your latest TransUnion FICO Score
- Your usage of the existing credit limit
- Your payment history eg., if you made payments on time, paid all or a significant proportion of your monthly balance
- Your credit history on accounts in your credit report
- Your recently reported income, with us

How do you decide, what 'amount' of credit line increase needs to be given to the customer? My CLI request has been approved but what If I want more?

We carefully review your GM Card account history and any new credit bureau information received as part of servicing your account. Based on this information, we decide what credit line we can offer you. You can request another credit line increase but we recommend waiting at least 90 days. That way we can consider updates to your GM Card account history and credit history over a longer period of time.

Will a hard pull of the customer's credit be taken, to evaluate a credit line increase request?

Why do I have to provide annual income? How will you use this information? (income definition?)

To review your credit line increase request, we will look at your annual income, your GM Card account history and any new credit bureau information received as part of servicing your account.

To determine total annual income, please include all sources of income, including Income from assets. Example sources of Income can include:

- Wages from full-time, part-time, or seasonal jobs
- Self-employment income
- Interest or dividends from investments
- Retirement Income
- Public assistance
- Shared income from someone else that is regularly deposited into your individual account or into a joint account

If you include non-taxable income/benefits, increase amount by 25%

If you are 21 or older, you may also include the portion of someone else’s income that is regularly used to pay your expenses.

Can my credit limit be decreased as a result of the credit limit re-evaluation?

Joint account specific FAQs:

When will I receive an update on my credit line increase request?

For joint accounts, we might need your co-owner's income, in some instances, to evaluate your credit line increase request. We provide 10 days to your co-owner to update their income with us and hence the credit line request might take up to 10-14 calendar days.

In case, we don't require your co-owner to update their income, then it may take up to 3-5 calendar days to receive our decision via email or direct mail.

Will the result of my credit line increase request change, depending on who submits the request (me or my co-owner)?

No, the result will be the same. You and your co-owner are equally financially responsible for the account, payments, and terms of the Customer Agreement. When you or your co-owner requests a credit line increase, we evaluate the credit eligibility for both of you together and if approved, you will be offered a new joint credit limit.

My co-owner has bad credit (e.g., bankruptcy, charge-off, repossession), but my credit is good. Why can’t I be approved for a credit line increase?