Quote:
Originally Posted by gareth
In the January sales I splurged and purchased myself a shiny new big flat screen TV. I purchased it from Domayne and took advantage of the 6 months interest free deal on offer through GE Money.
I'm well on track to have paid it all off within that time as I planned my repayments and have stuck to them, but got a little worried when I see in the fine print any ammount left owing attracts 29.9% interest!!
What do I do once my interest free period expires - should I cut the card up? And has anyone had a bad experience with GE?
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Hi Gareth,
I did the exact same thing as you, bought myself a Sony Bravia (I think I went a bit overboard) and put around $2000 on a GE finance card.
Like you said, the interest rate after the 'honeymoon' period is MASSIVE.
Luckily I paid it off, but one of the hardest things to do was just cancel the card. They made it quite hard for me to get through to someone who could close the card, and when the time came - i continued to receive bills from them for 2months even though the card was shutdown.
In the future I am just going to save towards big purchases like that, not worth the time, worry and effort of taking out a risky loan via a credit card.
My advice? Once you pay the TV off (sooner if possible) I would ring up, cancel the card and never use store credit again. It is to easy to get into big time debt!
04-22-2009, 06:46 AM
GE Money Credit Cards
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