GE 0% credit card

Mister_Z

I tried for a GE Transformation credit card and was refused due to data provided by one of their credit rating companies.I was very annoyed by this as I have no outstanding debts and reasonably financially stable. I am in full time employment too. Does anyone out there know why these bad credit ratings come about when you have no debt

gritts

Ditto. My first knock back for a credit card - ever!

wisper

perhaps they're being extremely picky about who they take on?

mattbass

They are very picky! This is commented on in several GE threads! Also they cant find their !!!!!! from their elbow imo!:mad:

mr_conners

As long as you pay the minimum monthly amount, on time, having some debt on an existing cards or loan etc actually improves your credit score, as you have a proven history of repayment. At least I think that's how it works. I have a reasonable amount of debt on more than one credit card but I have a good credit score because I always pay on time (and because I'm a good prospect for them as someone who has debt and is likely to end up paying them interest?)

dillydilly

I too have been declined by GE, and on confirming my 100% credit record with the various credit rference agencies, I can only assume they could tell from the sheer quantity of credit cards I've had historically that there was little chance of making much money from me...

markmc999

I think they are being VERY picky on this one and after a select band of customers - very high credit rating, few credit cards, good (but possibly not perfect payment record), balance on credit cards etc.

I dont think anybody will ever know what exactly there policy is unless you work for them

humfer

Plus their balance transfer fee is now uncapped so they are well avoided if you ask me

ajay73

I'm peeed off too, I pay all my bills on time, isn't this what we are supposed to do or do they and the rest of the banks only want those customers that pay the minimum amount?

1st time too that I got rejected for a credit card!

Mrs_T_13

Ah, greetings fellow rejectees!

It is at least comforting to know that my hubbie, with his exemplary credit record, is not the only one to be rejected by GE.

We thought it was because our address was on the databases wrongly. We had it changed and both Nationwide and IF were then happy to give us credit, on appeal.

GE however don't seem to have a complaint facility - just a recorded message that doesn't cover the issue of complaining!

My hubby has written to the ombudsman about his. In the meantime, I guess we'll try somewhere else for now.

Bit of a b*&ger though as it's meant that we're paying interest on a balance transfer until we get another card.

Big thumbs down for GE.

Ho hum.

Mrs T

M_Thomson

Mrs_T wrote:

My hubby has written to the ombudsman about his. In the meantime, I guess we'll try somewhere else for now.
Mrs T

Why did he do that? The ombudsman will not even look at the complaint until you have exhausted all of GE Money's complaints procedures and reached deadlock with them.