GE Money Bank – Promos

I consider GE Money Bank to be a fairly low end credit card company, but they do often have attractive promotions to get you to sign up for a card… and they continue to offer promotions to get you used to using their cards.

Some of the promotions here of late — Sam’s Discover, $40 instantly off your $100 or more purchase; Wal-Mart Discover, $20 statement credit for a $100 or more purchase; eBay MasterCard 10% up to $25 back from your purchases in the first thirty days; and Chevron-Texaco VISA $10 gas credit for four transactions in the first thirty days (not clear if they need to be at a Chevron or Texaco or not).

Plus, what you start seeing around the end of your first thirty days are offers from GE Money Bank for a $10 statement credit for spending $100 or more at business other than the one the card was issued for — I just generally make my automobile insurance payment with the card, something I would do anyway — you might lose the 1% you would have gotten back on another card, but you get $10 plus whatever the GE Money Bank card bonus is for other charges!

From my experience you get two of the $10 off offers, one each of the months following your sign up — at least I have, and the only thing I charge on the cards is basically what I need to get the promo.

The downside is you’ll probably need to contact your credit card issuer and “remind” them about the promo; they’ll credit it pretty quickly after that (give them a statement period — but call after the statement the credit should have appeared on)… I won’t say the system always fails to apply the credit, but it has for me.  And there’s no reason to get testy with them, just be calm and tell them what happened (I save copies of the promos — both the initial electronic ones and the letters they send me just in case) and you might have to be sent to a supervisor — but you’ll get the credit with no problems as long as you fulfilled the terms of the promotion.

It’s easy cash — and you don’t have to use the cards after you have the money in your pocket; though watch out about accumulating too much credit for your asset level — if you’re not going to use the card, request them to lower your credit limit (or you can consider closing the account, but I would suggest you just lower the credit limit).

Originally posted 2010-12-05 02:00:33.