08-30-2013 01:55 PM
I was reading a report that GE is considering pulling out of retail financing as early as next year. I don't know how accurate that is, but if it is true I think that would affect a great deal of people here who use GE to help rebuild their credit and for their nice CLI's and credit limits.
08-30-2013 02:04 PM
Looks like they are spinning off the retail lending segment according to an article in the Wall Street Journal. Are links allowed?
08-30-2013 02:43 PM
GE Set to Exit Retail Lending
09-03-2013 07:19 AM
Asked for an increase on my Walmart store card. Denied. 6th statement from last increase
Seems like GE is tightening the belt quick.
<incident that happened to one person>
<broad generalization of that incident to everyone>
Not really sound logic.
The recent reporting of 90-day freezes and account audits holds a little more water, but as far as I can tell there have been 4 forum members who reported that out of the entire forum membership. And GE cards are very popular amongst the membership, so it feels too soon to call this a trend.
Nor are these 90 day audits something new:
I'm not saying that some of the recent activity on GE credit accounts can't eventually turn out to be related to this planned spin-off/IPO of the lending division. Just that it's highly speculative to assume the sky is falling when all we've got is a handful of raindrops at this point.
09-05-2013 06:11 PM
Aparently GE has been up to this for a while now, just found an article dating back to May of this year....
10-06-2013 02:15 AM