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GE APR Surprise!!

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Braydon
New Contributor

GE APR Surprise!!

This is the first time I have held a balance on a GE card and I almost fell over when I found out the APR was 26%+ on ALL their cards. I was told by the CSR that they had raised it as of last year. I asked the CSR if they worried this might make most folks shy away from using any GE backed cards and he told me he warns everyone of the APR before they apply..JEZZ I need to pay attention! No more holding a balance even if it is for a short time..

 

EXP FICO 8/12/13 717 TU FICO 8/12/13 707

Message 1 of 9
8 REPLIES 8
navigatethis12
Valued Contributor

Re: GE APR Surprise!!

I don't know any store card that has a low rate. It's not just them that have the high rates.

Message 2 of 9
09Lexie
Moderator Emerita

Re: GE APR Surprise!!

Their MC has a high APR too. Great for CLI's not so good if you have to carry a balance.
Message 3 of 9
SwampSystems
Frequent Contributor

Re: GE APR Surprise!!

Store cards really are meant to be used as charge cards rather than credit cards. Think of it like an Amex charge card that gives you the option of caryring a balance for a short period.

 

I'm not proud that I carried a balance on my GE Walmart card for a few years, although it did help me get credit line increases.

Message 4 of 9
BearsAndTurtlesRtheBest
Senior Contributor

Re: GE APR Surprise!!

+1 they do they help your mix of credit

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 5 of 9
maiden_girl
Valued Contributor

Re: GE APR Surprise!!

The APR doesn't surprise me. However...I do laugh at the little balance transfer section. Like I'd really do THAT at 26.9%! Lol.

As of 2017, rebuilding...
Message 6 of 9
Braydon
New Contributor

Re: GE APR Surprise!!

To be fair It's my fault. I got use to my APR being so low on my major credit cards I forgot GE cards are store cards subject to higher APR.. I only have 2 GE cards and I like both but next time I'll keep in mind the 26%+ thingy when I need to hold a balance a few months..Live and learn!!

Message 7 of 9
austinguy907
Valued Contributor

Re: GE APR Surprise!!

GERCB = 20+% on all line of credit normally.

 

 

There are some co-branded options they have that have Tiers though that differ depending on  your profile.

 

 

SAM'S CLUB® DISCOVER®

Annual Percentage Rate (APR) for Purchases14.90% for Account Type 1 or
22.90% for Account Type 2
Message 8 of 9
maiden_girl
Valued Contributor

Re: GE APR Surprise!!

Most GE cards have special financing so you don't need to worry about the APR anyway. I currently have a balance with Living Spaces 2500 balance with 18 month financing. No idea what my APR is but I've never paid on it and I've had 3 previously paid off balances with this card. What can I say...I love Living Spaces!

As of 2017, rebuilding...
Message 9 of 9
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