topic Re: Why get a GE credit card? in Credit Cards

Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:19:30 GMT

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.

Re: Why get a GE credit card?

coldnmn — Sat, 14 Dec 2013 14:49:05 GMT

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

edit:Barclay is not GE.

Re: Why get a GE credit card?

daybreakgonesXe — Sat, 14 Dec 2013 14:55:37 GMT

@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.

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

Re: Why get a GE credit card?

Anonymous — Sat, 14 Dec 2013 15:00:38 GMT

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.

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:01:33 GMT

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.

Re: Why get a GE credit card?

Anonymous — Sat, 14 Dec 2013 15:03:55 GMT

Does retail credit help one's report?

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:09:06 GMT

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 )

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:13:09 GMT

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.

Re: Why get a GE credit card?

Anonymous — Sat, 14 Dec 2013 15:13:58 GMT

@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.

Re: Why get a GE credit card?

coldnmn — Sat, 14 Dec 2013 15:17:43 GMT

@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.

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:25:19 GMT

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

This is what is making me think twice.

As you have read some of my posts I am deadly concerned with AAoA & AACL ( average account credit line ).

Re: Why get a GE credit card?

alvon123 — Sat, 14 Dec 2013 15:31:09 GMT

@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 ( sorry I MEANT TU ).. share share share.

BBVA Compass clearpoints visa is a TU puller http://www.bbvacompass.com/credit-cards/

Re: Why get a GE credit card?

coldnmn — Sat, 14 Dec 2013 15:32:50 GMT

@Fico2Go wrote:
Is the impact of lowering Your average age of active accounts worth it?

This is what is making me think twice.

As you have read some of my posts I am deadly concerned with AAoA & AACL ( average account credit line ).

Barclay would be the one to worry about they don't like to many inquiries and new accounts!

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 15:45:55 GMT

thank u Alvon. I'll look at them closer.

Coldnmn... the Barclay card I have now I am willing to risk losing. It's not at all impressive. However since they added the new account to my CR my scores have gone up across all 3 bureaus.

IRONICALLY my scores are not as high as it can be due to the NOT ENOUGH NEW ACCOUNTS and NOT Enought types of credit.
These two points make up to 25% of total scores. So need work in these areas.

Re: Why get a GE credit card?

coldnmn — Sat, 14 Dec 2013 15:57:09 GMT

@Fico2Go wrote:
thank u Alvon. I'll look at them closer.

Coldnmn... the Barclay card I have now I am willing to risk losing. It's not at all impressive. However since they added the new account to my CR my scores have gone up across all 3 bureaus.

IRONICALLY my scores are not as high as it can be due to the NOT ENOUGH NEW ACCOUNTS and NOT Enought types of credit.
These two points make up to 25% of total scores. So need work in these areas.

Sounds like creditkarma.

Re: Why get a GE credit card?

Fico2Go — Sat, 14 Dec 2013 16:19:30 GMT

This is EQUIFAX.com.

With my recent approved apps next week or this month the not enough new accounts issue won't be a problem.

But type of credit still needs work.

Re: Why get a GE credit card?

coldnmn — Sat, 14 Dec 2013 16:28:06 GMT

@Fico2Go wrote:
This is EQUIFAX.com.

With my recent approved apps next week or this month the not enough new accounts issue won't be a problem.
But type of credit still needs work.

I hope those aren't your only accounts that are listed. If they are and you apply for more! ! ! !

Re: Why get a GE credit card?

FinStar — Sat, 14 Dec 2013 19:17:26 GMT

IME, GECRB has been a great company. I have 10 different co-branded products with them (Visa, AMEX, Discover & MC) and provide some decent loyalty reward programs that are not generally duplicated by my other major bank cards.

Re: Why get a GE credit card?

Fico2Go — Thu, 19 Dec 2013 06:16:49 GMT

Finstar, thanks I've been looking at all the GE products and been noticing Old Navy/Visa is one of the best out there. I don't shop much at Old Navy or their other brands but I do like VISA. If I don't get approved for SLATE which is currently under review for ID verification then I''ll look close at GE.

I just don't like the high APR that comes with GE products.

Re: Why get a GE credit card?

Anonymous — Thu, 19 Dec 2013 07:04:03 GMT

A lot of GE cards are retail cards. If you happen to shop at those stores, there's usually a 12-24 months 0% apr promo if you finance the purchase on that card. That's probably the biggest reason why people get GE cards.

The Carecredit is a nice very card too that gives 12-24 months 0% interest on medical related expenses.