Aushiker wrote:Well I am not sure how they are stitching me up given I pay no transaction fees and the exchange rate is good. There are enough good reports here for me to go with them. If you don't like it, so be it, I will continue to enjoy the savings
GE Money like to operate at the lower end of the market where they can gouge people who would otherwise have difficulty obtaining credit. That probably explains why some 28 Degrees reviewers complained about being offered low credit limits despite being eminently creditworthy - GE Money doesn't really want customers who can afford to pay off their credit card in full each month. In the US, GE Money is one of the biggest lenders for sub-prime mortgages, and controversially received a $140b bailout during the recent GFC. GE Money's bad business practices can easily be confirmed by a just few moments of Googling.
So when I see GE Money offering a credit product with terms that seem too good to be true my suspicious are aroused, and I wonder what the catch is - there will be one.
But forewarned is forearmed so I hope it all goes well for you...