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New Contributor
Braydon
Posts: 59
Registered: ‎05-20-2011

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

Valued Contributor
navigatethis12
Posts: 1,886
Registered: ‎01-24-2012

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.

Moderator
09Lexie
Posts: 24,596
Registered: ‎09-13-2012

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.
Frequent Contributor
SwampSystems
Posts: 358
Registered: ‎06-25-2012

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.

Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,290
Registered: ‎10-02-2012

Re: GE APR Surprise!!

+1 they do they help your mix of credit

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

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.

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
New Contributor
Braydon
Posts: 59
Registered: ‎05-20-2011

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!!

Frequent Contributor
austinguy907
Posts: 291
Registered: ‎03-03-2008

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
Scores by lender CLI requests 4/15/14: EQ 760 / TU 755 / EX
------------------------------------------------------------------------------------
Scores by lender 4/25/11: EQ 705 / EX 743 / TU 735
Mortgage closed 5/20/2011!
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

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!

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015

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