GE '3%' Cashback Card

sloughflint

I've just applied too. Got same acceptance email as post 69. it looks as though we've been offered the other card ( transformation one not everyday one). Will wait till card arrives and try to get it changed without having to get another card sent out.
There was no option either to get additional card even though it was advertised as a possibility.

davidlizard

How long will this 3% cashback be in place, before its reduced to 1% or so and fall in line with the other cashback credit cards?

A look at the web site does not make this clear.

For the sake of a few pounds, offset against a higher than usual risk of getting refused, I think it is important to know how long the rate will apply before making the decision - after all, it could revert to 1% within the next few weeks.

Dave

King_Of_Fools

davidlizard wrote:

How long will this 3% cashback be in place, before its reduced to 1% or so and fall in line with the other cashback credit cards?

A look at the web site does not make this clear.

For the sake of a few pounds, offset against a higher than usual risk of getting refused, I think it is important to know how long the rate will apply before making the decision - after all, it could revert to 1% within the next few weeks.

More likely to revert to 0.5% as that is the rate of cashback currently offered on other purchases.

andrewcopsey

GE money card...

I have been turned down - took less than 2 hours! I have never defaulted on payments of any kind, home owner etc etc. But - as a true follower of MSE I do have about half a dozen 0% BT cards running and that may count against me.

soba

This is the confirmation email I got - no mention of 3% cashback or 0% balance transfer.


Congratulations!

Your application for a GE Money Credit Card has been accepted.

Here's what happens from here:

1. You will receive your PIN in the next 3 business days
2. You will receive your new credit card under separate cover within the next 5-7 business days.

Then you'll need to make one short phone call to activate the card and you can start using it straight away.
If you have requested a balance transfer, please continue to make payments to your existing card issuers until you see your current card issuers have confirmed the transfer.
Thank you for choosing GE Money. We trust you'll find carrying the GE Money Credit Card rewarding.

All the best,

N. T. Eddin
Managing Director
GE Money Direct

cpu

Applied online at lunchtime, got the thanks and we'll respond with a decision in 3 hours email and heard no more.

Called them and it seems they are inundated with applications and the process is taking much longer now.

Advised to wait 24-48 hours and then call again if I still haven't heard. So don't worry if you don't get a fast reply.

eddleetham

I got a refusal email too. And likewise it's the first time I've ever been turned down for a card. I hope the promised letter explaining their reasons arrives, though I doubt it will tell me much.

Capyboppy

Noticed there was a difference between Soba's reply (which was the same as mine after double checking) and BarGin's. BarGin's says "You are one of the first people in the UK to be accepted for this superb card offering 0% p.a. on balance transfers and new purchases for 12 months. Not only that, but you also get the great rate of 12.9% APR after your introductory offer." Which makes me think that BarGin's is the Transformation card, and Soba myself and others who don't have the above text included have the correct "Everyday" Card with the 3% cashback. obviously we won't know if we have got the right card until it comes. Is it possible (as I haven't gone back to look yet) that some of us have clicked on the wrong card by mistake? As they are very similar, and one is above the other it would be easy to do if having a "scatty" moment.

David42

davidlizard wrote:

How long will this 3% cashback be in place, before its reduced to 1% or so and fall in line with the other cashback credit cards?

The full terms and conditions, supplied at the end of the application process state:
"7.3. We may vary the Cash Back percentage by giving you not less than 30 days notice."

yebaws

It's surely a loss leader that will be slashed as soon as they have enough new customers.

I have a small business without a hugh turnover and pay 1.75% commision to the bank on credit card transaction. The credit card companies will only see a proportion of this and big retailers such as supermarkets will negotiate a better commision rate than me. They're losing money - maybe 2% on every transaction that they pay the 3% cashback on, so it can't last long