GE Capital "news"

[doodlebear88]

I apologize if already posted or if it belongs elsewhere. Just noticed these 2 random articles regarding some changes to GE Capital. Caught my eye because I think 3 or 4 of my accounts are with them.

 

I say "news" because while it's entirely news to me it may be something that's "old news" that's already been discussed and whatnot and my head must have been in the sand lol :/

 

http://www.forbes.com/sites/halahtouryalai/2014/03/13/why-ge-is-getting-rid-of-its-profitable-credit-card-biz/

 

http://www.zacks.com/stock/news/126530/ge-files-ipo-for-finance-arm-spin-off

Edited March 15, 2014 by doodlebear88

[MommaE]

News to me....

 

I got 8 GE accounts. I'm curious to see how this is going to play out.

[jonson]

I hope whoever buys them out still gives good CLIs.

[MommaE]

I hope whoever buys them out still gives good CLIs.

.... with a soft pull.

[jonson]

 

I hope whoever buys them out still gives good CLIs.

.... with a soft pull.

 

 

Good point.... Is GECRB every 4 months for a CLI? I just received my first on my Amazon, and I want to request as many as possible before it's sold!

[Cactus Flower]

 

 

I hope whoever buys them out still gives good CLIs.

.... with a soft pull.

 

 

Good point.... Is GECRB every 4 months for a CLI? I just received my first on my Amazon, and I want to request as many as possible before it's sold!

 

Yes it *can* be, but it's not a given and I have been turned down on some of my cards consistently.. Amazon was one of the tougher ones (not sure why)...stuck at $2500 for awhile, whenever I ask - I either get a NOT TODAY or they throw $100 at me! ..Lowes jumped up to $10k within a very short time, but I also put big ticket items on Lowes at the 0% and paid them off faithfully before I got charged any interest. I really don't use my Amazon card all that much because there is no benefit to it.. I am usually buying $20-$30 items and I have other CC's that give me 1 or 1.5% back ....or I'm buying from Amazon using my points/cashback bonuses from Citi or Discover (free stuff).

[jonson]

 

 

 

I hope whoever buys them out still gives good CLIs.

.... with a soft pull.

 

 

Good point.... Is GECRB every 4 months for a CLI? I just received my first on my Amazon, and I want to request as many as possible before it's sold!

 

Yes it *can* be, but it's not a given and I have been turned down on some of my cards consistently.. Amazon was one of the tougher ones (not sure why)...stuck at $2500 for awhile, whenever I ask - I either get a NOT TODAY or they throw $100 at me! ..Lowes jumped up to $10k within a very short time, but I also put big ticket items on Lowes at the 0% and paid them off faithfully before I got charged any interest. I really don't use my Amazon card all that much because there is no benefit to it.. I am usually buying $20-$30 items and I have other CC's that give me 1 or 1.5% back ....or I'm buying from Amazon using my points/cashback bonuses from Citi or Discover (free stuff).

 

 

The only real benefit are financing offers. But I try to use it once a month for something small, then use my rewards card for everything else. Amazon recently went from $1800 to $5000 for me. So I'm hoping with consistent use, they will keep bumping me up!

[minionelle]

"The North American retail fiance business brings in over $2 billion annually for GE."

 

Maybe there's even more to this than we realized!

[mj]

Loads more detail here... including possible program change, average FICO scores...

http://creditboards.com/forums/index.php?showtopic=525622