Credit Card Center Advertiser Disclosure†
08-16-2013 10:09 AM
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
08-16-2013 10:16 AM
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.
08-16-2013 10:49 AM
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!!
08-16-2013 10:59 AM
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 Purchases||14.90% for Account Type 1 or|
22.90% for Account Type 2
08-16-2013 11:08 AM
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!