Reply
Established Contributor
Posts: 943
Registered: ‎12-05-2013
0

Why get a GE credit card?

[ Edited ]

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.  :smileyhappy:

Discover IT $12,500 == 12/2013
AMEX 12/2013 ---BCP $11,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Mega Contributor
Posts: 16,663
Registered: ‎08-08-2011
0

Re: Why get a GE credit card?

[ Edited ]

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

 

edit:Barclay is not GE.

Valued Contributor
Posts: 1,877
Registered: ‎11-17-2012
0

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.  :smileyhappy:


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

,l.
Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 768 EQ 712 TU 750 VantageScore 3.0: EX 734 EQ 736 TU 737 Credit Sesame (EX) 780 Credit.com (EX) 786
Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
0

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
Established Contributor
Posts: 943
Registered: ‎12-05-2013
0

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 $12,500 == 12/2013
AMEX 12/2013 ---BCP $11,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
0

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
Established Contributor
Posts: 943
Registered: ‎12-05-2013
0

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 $12,500 == 12/2013
AMEX 12/2013 ---BCP $11,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Established Contributor
Posts: 943
Registered: ‎12-05-2013
0

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 $12,500 == 12/2013
AMEX 12/2013 ---BCP $11,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
0

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
Mega Contributor
Posts: 16,663
Registered: ‎08-08-2011
0

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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.