GE Capital

[MB2714]

General Electric is selling its Ge Capital Finance division to become named Synchrony Financial Bank

[MB2714]

General Electric is selling the financial arm to focus on its core industrial division.,

[john398]

I thought they were just splitting it off and not selling it but I guess thats the same thing

[TiggerDat]

They are splitting it off, with the split off they will sell off 25% I believe so they can get some cash flow.  Then later they will sell off the rest.  The new name in the split off is Synchrony.

[JustinS]

This has been in the news for some time now. It's being done as an IPO (initial product offering) to be publicly traded and sold off. So it will be essentially it's own business entity no longer GE backed (different group of banks will be underwriting it).

[john398]

---

@JustinS wrote:

This has been in the news for some time now. It's being done as an IPO (initial product offering) to be publicly traded and sold off. So it will be essentially it's own business entity no longer GE backed (different group of banks will be underwriting it).

---

So is this a good investment?

[pizzadude]

Merged both threads on this topic

[Bowzer]

Looks like the walmart branded card will also change over to a mastercard later this year.

http://newsroom.mastercard.com/press-releases/sams-club-extends-contract-for-branded-credit-card-pro...

[bichonmom]

---

@Bowzer wrote:

Looks like the walmart branded card will also change over to a mastercard later this year.

http://newsroom.mastercard.com/press-releases/sams-club-extends-contract-for-branded-credit-card-pro...

---

QUOTE FROM THAT PAGE:

As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members.  Under the agreement, the Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.

So, this means that instead of the Walmart store card upgrading to Discover, it will upgrade to MC now, is that right?

[jodiescha68]

It appears that more stringent credit requirements are in order with the change. In the last month all my GECRB accts (I have/had 8) were either closed if they had a 0 balance or had the credit limit lowered to what the balance was. I have never had a late payment and only one acct is nearing the CL. This action has devistated my credit (50 pt drop because credit ratio change). The reason they gave was that my Credit score was lower than when I got the accts.