GE credit cards and Buying furniture interest free
Pop into any australian furniture shop , electronic shop or Household ( Furniture bazaar , Harvey Norman , Myer’s etc) goods shops nowadays and you have the option to buy now and pay later. Now this can be quite a good option
if you are low on the $$ at the moment but you will be able to mend all that in the short time and repay the amount. But if not beware it could be instead : "Buy now , pain later" . You would notice most shops wither give you the GE credit card option or the Hsbc Credit card option. The other good option would be to get a normal aussie credit card like ——————- and just make use of the interest free terms and pay back the amounts immediately within the interest free period.
Me and my partner recently got some furniture from osborne park, perth on a GE credit card ( interest free for a year as told by the salesman) and happily assumed that we could use the credit card we got towards interest free purchases for a whole year towards the max amount of $5000 which was available on the credit card. we had used up $3000 towards that furniture purchase and still had limit of $2000.
Like it or not when you sign up for this interest free term " they have sold you a credit card for that company"
Before we rushed to get that new flat Screen TV we thought we should check out the details of the credit card. Turns out the credit card company would not give interest free terms if the shop you buying the furniture from does not have the GE interest free term purchase scheme available with them.
The useful and usable good information we got out of that ( which is rare) is that if the shop has that interest free terms , then we would get the interest free term charged from the date we bought that goods from that shop and not the previous date our card was activated ( but do check with the provider to be doubly sure ).
Now all this is good ..but remember don’t get caught in the debt cycle. i do remember a time when i very happily used my credit card to fund a overseas holiday and ended up paying upto $30 to 50 regularly on a monthly basis to the bank as interest which added up to quite a bit when i did the maths and was totally not worth it. i went on baked beans and bread , eased out of those $3.50 take away coffees and tightened the belt and ultimately paid off in 2 lump sums and doing much better now.
Word to the wise : "if you getting a credit card , its best to keep a close eye on it – not closed eye"

















