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Why get a GE credit card?

Established Contributor

Why get a GE credit card?

Just realized of all the HP  I have only one is with TU.  So guess what? 

 

I am thinking of apping for GE cards.  From what I hear GE is the undisputable TU user. 

The problem I hear is that retail cards including PayPal and Amazon ...powered by GE.. have high APRs and are least attractive in terms of consumer benefits. 

Please give me a few reasons why GE products are worth owning. 

 

If u know of another creditor ( besides Barclay ) that also uses GE ( sorry I MEANT TU ).. share share share.  Smiley Happy

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 1 of 32
31 REPLIES
Mega Contributor

Re: Why get a GE credit card?

Walmart, Lowes, CareCredit and Sams Club. For 0% financing of products. Also free monthly TU score from Walmart.

 

edit:Barclay is not GE.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 2 of 32
Valued Contributor

Re: Why get a GE credit card?


Fico2Go wrote:

Just realized of all the HP  I have only one is with TU.  So guess what? 

 

I am thinking of apping for GE cards.  From what I hear GE is the undisputable TU user. 

The problem I hear is that retail cards including PayPal and Amazon ...powered by GE.. have high APRs and are least attractive in terms of consumer benefits. 

Please give me a few reasons why GE products are worth owning. 

 

If u know of another creditor ( besides Barclay ) that also uses GE.. share share share.  Smiley Happy


They're typically great with CLI, known for giving customer initiated CLI every 4 statements


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 3 of 32
Senior Contributor

Re: Why get a GE credit card?

Considering three new accounts in Dec '13, it might be time for gardening.

 

IMO, the TU FICO score gives a nice feeling but isn't really that useful. I write that because its not the flavor of FICO most places use to make lending decisions.

 

Unless it's to take advantage of a 0% offer or grow a thin file, there may not a point other than getting an easy approval.

 

I do believe they grow with regular use and may have CLIs with SP, though. That's an advantage over some other companies.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 4 of 32
Established Contributor

Re: Why get a GE credit card?

Hello ColdnMN.. that's correct Barlay is not GE but Barclay uses TU. 

 

At this point most of what current products also offer 0% interest.  My thinking is that GE could help by adding retail credit to my CR.   

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 5 of 32
Senior Contributor

Re: Why get a GE credit card?

Does retail credit help one's report?


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 6 of 32
Established Contributor

Re: Why get a GE credit card?

Drkaje.. normally I would agree on gardening time. 

 

I have four approved and one  pending Chase Slate in 12/13.  Needed to verify ID.
 

I would not even consider opening another account that pulls EQ or EX for 6-12 months.  But looking at my scores today TU is the highest with only 1 HP.  Trying to see if this lost opportunity by not apping GE or just garden the current accounts.  

 

( I don't regard GE as a premium product )

 

 

 

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 7 of 32
Established Contributor

Re: Why get a GE credit card?

Yes retail does help increase scores...up to 10% of your scores are is determined by the types of credit you have. 

I have installment and revolving.   Need retail.  

 

80 point difference can make a huge difference. 

 

My concern is if in fact GE is officially categorized as RETAIL.   

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 8 of 32
Senior Contributor

Re: Why get a GE credit card?


Fico2Go wrote:

Drkaje.. normally I would agree on gardening time. 

 

I have four approved and one  pending Chase Slate in 12/13.  Needed to verify ID.
 

I would not even consider opening another account that pulls EQ or EX for 6-12 months.  But looking at my scores today TU is the highest with only 1 HP.  Trying to see if this lost opportunity by not apping GE or just garden the current accounts.  

 

( I don't regard GE as a premium product )

 

 

 

 

 


Is the impact of lowering Your average age of active accounts worth it?

 

IMO, that's the only question.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 9 of 32
Mega Contributor

Re: Why get a GE credit card?


Fico2Go wrote:

Hello ColdnMN.. that's correct Barlay is not GE but Barclay uses TU. 

 

At this point most of what current products also offer 0% interest.  My thinking is that GE could help by adding retail credit to my CR.   

 


Check your personal messages you may get the answer you want.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 10 of 32