GE '3%' Cashback Card

dbhavnani99

Hi

After reading messages on this forum I am a bit confused.

I applied online for the card but when I did not hear from GE, I called them on the phone. The lady who took the call said she has no record of mine applying online and urged me to apply again on the phone(which I did).

After taking my details, she said 'congratulations, your application has been accepted'.

Members on this forum talk of company sending them pin number first followed by the card. But when I called GE
today reminding GE I have not received any letter from them though my application had been accepted 5 days back, the lady who took the call said GE have sent you a welcome pack. Once you sign it, we will then send you the pin number and the card.

Has anyone else on this forum been sent a welcome pack to be signed and sent back to GE before receiving the PIN number and the cc?

tmohammad

I got a refusal too even thought I earn over £39K and have an excellent credit record. It's the first time I've ever been turned down for a card. The explanation letter says nothing! I think they may be using a "lotto" system... as reading all the relies to this thread seems to immply an illogical decisions on GEs part!

I was so worked up that I have paid £2 for my credit report just in case something is wrong on it.....

gt94sss2

dbhavnani99 wrote:

Hi
Members on this forum talk of company sending them pin number first followed by the card. But when I called GE
today reminding GE I have not received any letter from them though my application had been accepted 5 days back, the lady who took the call said GE have sent you a welcome pack. Once you sign it, we will then send you the pin number and the card.

Has anyone else on this forum been sent a welcome pack to be signed and sent back to GE before receiving the PIN number and the cc?

I suspect that as you joined via the telephone, they are going to post you a Credit Agreement to sign and send back. If you join online, its part of the application process.

Regards
Sunil

Decadent_Fool

gt94sss2 wrote:

I suspect that as you joined via the telephone, they are going to post you a Credit Agreement to sign and send back. If you join online, its part of the application process.

Regards
Sunil

It is, if I remember correctly you have to type in your name on the webpage as 'signature'

cwep2

I got turned down also for the GE card, and the egg money card. I checked my credit report and found nothing. I earn plenty, and have had credit cards+mortgage for ages all paid on time. I would have thought on paper my credit rating should be about as high as it can be.

My only explanation is either the amount of credit already available to me via 3 or 4 cards where they tend to bump up the limit every so often (if you make payments in full they do this) which I'm told can count against you. Either that or from my profile they see me as a candidate who is very likely to make all payments on time, never break a limit, spend lots on the card for my rewards.... This is of course true and may well be why I am being refused.

I think they are cherry picking customers who they expect to make money from, not necessarily good credit ratings. Despite my refusals my wife who is a student on almost no salary applied for an egg card and got one straight away - we are both egg customers (savings) for 5+ years as well, if anything I've had the account longer!

I've given up trying to work it out or worry, but in places where I can't use amex I am becoming seriously limited for a decent cashback card. Accucard that gave me 0.8% is going, and once I've used up the first 2k of MS card I'm not left with much choice for better than 0.5%, very annoying.

dbhavnani99

Couple of random thoughts regarding GE card:

Last year I read somewhere that GE is a $400 billion dollar company(can't remember the source right now). Plus the company is saying they will be very choosy while selecting the customers and lastly maybe company issue a max. of let's say 1 million cards in UK..

The point I am trying to make here is some members have been speculating that GE would reduce the rate from 3% to 1% or 0.5% after some months. I think GE is a big company and secondly since 3% is being issued mainly on food items(that also limit of 5000 quid to get 3% return after which the returns are just 0.5%) so I am hopeful they will not reduce this present rate of 3%.

On a different note, everytime I have been rejected by a credit card company in the past I have always written to them to try to convince the company that I am financially a 'safe customer' i.e. my name on electoral register,I am in a stable profession, never defaulted in my payments, have a good credit history etc. and no company after receiving my follow up letter has said a 'no'. So all members who have been rejected for GE card should definitely write to GE urging the Co. to reconsider their decision.

Gorgeous_George

So far,

1. Applied at 10:20pm on Friday 26th May. Got confirmation email
2. Heard nothing more, so phoned CS on 30th May. The chap who answered wasn't sure and gave me a freephobne number for online appilications department. They said there was a backlog and the applicatione were being processed.
3. Still heard nothing so phoned today. Same response but this time from the first phone number.

Think I'll give it a miss but I did like the idea of effectively 3p off a litre of fuel.



GG

merulok

Would you be prepared to post the freephone number they gave you?
I am sure there are people who would appreciate it (myself included)

Capyboppy

...............I think they are cherry picking customers who they expect to make money from, not necessarily good credit ratings................

If this is the case why was I one of the successful ones then? Income Support dependent, no regular income of my own other than Child Benefit. Always pay off my cards every month so they can't even really think, "Oh, this one will get into debt with being on benefit, a prime target." And a faultless credit rating last time I paid my £2. They seem to have a very peculiar way of assessing I must agree.

mrd2364

Is 3% cashback still a good deal if you pay interest from the moment you make a purchase?

I rang the 0808 208 1149 to check if this GE card is like the MBNA card that charges interest from the moment you make a purchase i.e. no free interest period.

The lady from GE Money Everyday card confirmed that is the case.

Correct me if I'm wrong but 3% cashback when you're paying 12.9% APR doesn't sound like moneysaving.