Instant Approval Gives Me Another Credit Card

I can’t believe how easy it was.

I saw an online ad for a GE Mastercard that was offering 6 months of 0% interest on balance transfers and an ongoing rate of 10.99% which beats all my credit cards by atleast 6%.

I’ve often been envious of Americans who have endless offers of 0% balance transfer card offers and I felt it was only a matter of time before this kind of marketing hit’s Australia.

Last month I wrote a scathing post about GE Money but it’s seems this massive multinational have changed their tune a little.

I couldn’t believe how easy it was to get one. I entered all my details online and within a couple of minutes they had approved my application with a credit limit of $1250. I was kinda hoping for a limit that would let me transfer the entire balance of Gold Card One but that was not to be.

With a credit limit of $1250, and 6 months 0% interest, I’ll only save myself about $60 after I take into account the $58 annual fee. I imagine as the end of my interest free period approaches I will be offered a limit increase and possibly another discount rate for a balance transfer. With the ongoing rate of 10.99% on this new credit card I don’t think I’m going to lose.

But as I’m fully aware of this companies tactics to increase revenue from it’s credit products. I’ll be looking at the fine print very carefully before I activate this credit card.