GE Creditline - store card

Back in 2004 I bought this beautiful chocolate sofa worth $3000. I also bought a brand new fridge for $1000. I was able to purchase these items through getting Ge finance approval. I wish I never paid for them by this method, it would have been alot wiser of me to save the money, or even purchase them from a low interest rate personal loan.

GE finance is great for people who are good at paying things back and sticking to a budget. I had 18 months interest free, I thought it was an awesome offer that I could not refuse. Get to take the couch and fridge home without paying a cent. If I was smart I would have made monthly repayments thoughout this period while there was no interest. But I didn’t I left it too late, I waited till the end of this 18 month period, then boy am I paying for it now.

I am so annoyed at myself for leaving it too late, now I am paying 28% interest of this money that I borrowed. It is the most ludicrous interest rate, alot of other credit cards are not even this high. The worst part is even when I had half of it paid off. You can take the money out, via cash advance. Big mistake that was, you get like a $5 fee for withdrawing $100 out. I am finding it really difficult to make the monthly payments now and most of the money I pay is interest only.

GE finance is a good option for people who are wise and pay things on time. However if you are like me and leave things till the last minute, you are better off saving your money to purchase expensive items. Because if you don’t you could end up paying almost double in the end.