GE '3%' Cashback Card

islandannie

Well it certainly looks like they are cherry picking a target customer.

I applied almost two weeks ago, I have no debts and a fetishistic history of paying outstanding balances in full every month.

I have two properties both mortgage free have a reasonable employment salary and have lived in the same propery for 20 years.

I have seven cards with varying credit limits and am guilty of a little, but certainly not excessive stoozing.

GAWD some would even say i`m quite attractive for a woman of a certain age.

Yes I was not only refused for the first time ever I was even blinkin well ignored even after a phone call to confirm they had received my application and I quote.

"Sorry but we have been overwhelmed by the amount of applications but can assure you of a decision by Email within the next 24 Hrs.zzzzzzzzzzzzz .

The silence within a vacuum could have burst my eardrums since then.

Well, I won`t go into details but Hubby who is severely disabled with no income other than Incapacity Benefit and disabilty living allowance applied today.

Do i need to say more apart from a positive decision within 20 mins and his magmanimous agreement to add my name to his account.

Make of it as you will because I`m confused by it.

Decadent_Fool

Just to let you know, for those of you keeping track, my card arrived this morning, 2 weeks and a day after applying.

I'm not gloating, but just helping people keep track of where their cards may be

soba

I got my acceptance email last Tuesday, and have, as yet, received no pin and no card. I rang yesterday and spoke to a very bored young man, who sounded like he couldn't care less if I ever got them. I'll wait until tomorrow's post has been delivered then I'll be on the phone again, not just to chase them up, but to ascertain if the card and pin have been sent and maybe intercepted along the way.

bergy2

Hi

Well I got the card and pin - about 2 weeks later

I phoned to try and set up a full payment DD - they said they don't do them - i laughed and pressed hard - eventually was told I could write in - told the I wanted a chat with a supervisor - then negotiated with same person to send A DD mandate - not arrived after 5 days

I kind of am expecting them to drop their cashback rate in a month or two - you can see it coming really - not convinced that people should feel too agrieved yet about being turned down

dbhavnani99

Hi

Just wondering, all those whose applications have been rejected, have you applied for too many credit cards in the last 2-3 months?

Just a couple of tips for all those planning to apply again.

Before writing always call the Co. to check who is the head of the review(appeals) department and then write to him/her directly. This adds a personal touch to your review application. Once you have written a letter, call this person(head of appeals deptt.)on the phone and ask him/her regarding the progress of your application.

Co.'s receive 1000s of review(appeals) applications so the moment you write to a specific person(head of appeals dept.) in a Co., your appeal(review) application stands out.

lisyloo

Just wondering, all those whose applications have been rejected, have you applied for too many credit cards in the last 2-3 months?

No I applied for zero or one (not sure whether it was within 3 months as don't have exact dates).

I do a bit of stoozing and I am a bit of a tart but I don't think it's got to the point where it's been an issue.

It looks more likely that they want less credit worthy customers who are more likely to pay interest.

Kazza242

lisyloo wrote:

It looks more likely that they want less credit worthy customers who are more likely to pay interest.

I don't agree with that. I don't think it is fair to make sweeping statements like that, without having all the information, regarding GE's scoring criteria, to hand.

A number of posters on this thread, myself included, have already stated that we have never paid interest on a credit card and clear all credit card balances every month. I have lived at my address for 20+ years and I have never defaulted a payment or paid a bill late. I have checked my credit rating and it is high.

There may be other reasons why some people have been rejected. I chose to apply by phone and have the adviser complete the form for me. This is because my address is a bit odd and is sometimes written in two slightly different formats. I made the adviser aware of this. She then said that if my application failed, she would contact the referrals dept. and have them amend my address slightly using the other format. If I had applied online and input the address using a format that GE didn't recognise, this may have caused a problem. There is more info on this on the following thread:http://forums.moneysavingexpert.com/showthread.html?t=206329. Post 6 by Astaroth addresses this issue.

lisyloo

I don't agree with that. I don't think it is fair to make sweeping statements like that

Maybe, maybe not, it's just a picture that's building up.

I have never defaulted a payment or paid a bill late. I have checked my credit rating and it is high.

I am not saying that those that have got picked have defaulted so please don't get upset.
GE obviously have a profile of customer that they want.
What they HOPE the customer will do and what the customer actually does can be 2 completely seperate things, so I am not saying that every one that gets picked has bad finances.

You may have a high credit rating but if your income is lower than say someone on £200K income then they might be hoping that you are more likely to borrow and pay interest.

It may not be as simple as simply credit rating.
They may (for example) be turning down people with high incomes and good credit ratings on the basis that they probably won't pay interest.
It may be a combination of factors which you don't happen to have.

Anyway it's a guessing game, so a bit pointless.
Suffice to say that it's not a given that you'll get the card just because you have a high rating.

buses7675

Hi All,

Just activated my card, finally found out the credit limit, as they don't say in any letters! £1500, which should be quite enough for food shopping, as it'll be paid off every month in order to actually take advantage of the 3% cashback.

Replacement PIN in the post now, apparantly, as if you read my earlier comments I was unable to read the original. Apparantly this isn't that uncommon the advisor told me!

Cheers

Steve

Kazza242

lisyloo wrote:

Maybe, maybe not, it's just a picture that's building up.

Anyway it's a guessing game, so a bit pointless.
Suffice to say that it's not a given that you'll get the card just because you have a high rating.

I know a high credit rating doesn't necessarily mean that someone will get accepted. I am also not 'upset' by your statement, I just didn't think it was fair. The conclusion I came to on having read what you wrote above was understandable I think. Anyway, you've explained that now in your later post.

I haven't made any assumptions on the type of people GE accept, because I don't have that info, and neither does anyone else, but them.

Although, Martin did say in his article, that they would be 'cherry-picking' their customers "GE says it's for 'best customers', which means only those with extremely good credit histories are likely to get it".

lisyloo wrote:

You may have a high credit rating but if your income is lower than say someone on £200K income then they might be hoping that you are more likely to borrow and pay interest.

I have had credit cards since the start of my uni days, when my income was a lot less than what I'm earning now, but I never paid interest then either. GE will be able to see most of that information in the credit search. Keeping that in mind, I can't see how they would come to the conclusion that I would pay interest, to be honest.

To those people who have been turned down. I think writing to GE is the best step forward. Particularly those people who applied online for the card.