Asda/GE new "cashback" card + 6mths 0%BT

scattycat_3

Looks like GE want to expand into UK cc market, and have joined/persuaded Asda to lanch new Mastercard and a Store Card.

Both cards give 0.5% cashback in Asda Vouchers annually in November, and CC has six months 0% BT offer.
Purchase protection on items over £25 for 50 days, against loss/theft or accidental damage.
No annual fee, up to 56 days int free credit
Leisure and travel discounts, and instore "special offers"

AND NOW for the downside,

2% BT fee,

4% (or £4 ) minimum monthly repayment ,

Six tiered interest rates, from 13.8 % to 28.8%

You apply on one form, THEY decide whether you get Store  or Credit Card, and which of the six interest rates is applied.

Paymants go first to INSURANCE, so dont take it, then as usual, 2, interest and charges, 3, BTs, 4. purchases and cash.


HTHs Scat

cafenervosa_2

I signed up for this but soon cancelled it. I was given the store card but I was not aware that they decide if they give you a S/C or credit card. Good luck to them but theres much more better deals out there.

isasmurf

Looks like GE want to expand into UK cc market, and have joined/persuaded Asda to lanch new Mastercard and a Store Card.

They already have a large proportion of the cards in this country. They run the majority of the high interest store cards.

scattycat_3

For those who dont know GE, (sounds better than General Electric) are giants in the global world of moneylending and leasing.

They run Debenhams, House of Fraser, Arcadia, etc store cards ( 60% of uk), but afaik dont have a credit card. They tried to upgrade their Debenhams store card to a credit card in Jan. this year, but were stopped by OFT. This move to credit cards, is because of the bad publicity given to store cards, with 30% apr's, the leopard is trying to change its spots.

Asda and GE Finance/Capital Woodchester are based in Leeds and so the wooing of Asda logical.

Some company!
In 1876, Thomas Alva Edison opened a new laboratory in Menlo Park, New Jersey. Out of the laboratory was to come perhaps the most famous invention of all—a successful development of the incandescent electric lamp. By 1890, Edison had organized his various businesses into the Edison General Electric Company.

In 1896, General Electric was one of the original 12 companies listed on the newly-formed Dow Jones Industrial Average.

GE is the only one that remains today.

Today  GE is the most profitable company in the world. (Half of which is from finance arm , presumably through higher interest rates and leasing ).
GE is an enormous multinational industrial company headquartered in Fairfield, Connecticut. GE describes itself as composed of a number of primary business units or "businesses." Each "business" is itself a vast enterprise, any of which would, if separate, rank in the Fortune 500 by itself. The list of GE businesses varies over time as the result of acquisitions and reorganizations. The GE businesses as of 2004 are:
GE Advanced Materials
GE Commercial Finance
GE Consumer Finance
GE Consumer & Industrial (including home appliances)
GE Energy
GE Equipment Services
GE Healthcare (was Amersham plc)
GE Infrastructure
GE Insurance
NBC Universal ( Vivendi )

nmpkt
Phew Scat

I  Bet very few are declined and that most people end up with a store card .

Those of you who apply, let us know the results, which card and at what % apr.

Angelolly

My husband and I looked at getting an ASDA card as we usually do our shopping there. However, two things which put us off:

1. It's run by GE Capital, which means if we have any problems or queries, we get put through to a call centre in India where nobody understands what we're saying.

2. Having looked at the reward rates, we worked out we'd actually be better off with A.N.Other credit card which has a better rate - it wouldn't be in ASDA vouchers but so what!!?