Hi, After Exxon gas card, GM is second offer I got. I have 2 secured (6 months) and 1 AU (2 years). Should I pass this GM invitation offer, like I did with Exxon, and wait for something better to come, or not? I don't think GM would give me some good CL. And as I see they're related to subprime Household Bank, which I don't think it's good to go. I heard - Once in subprime - always in subprime. Thanks for any input, Denny
I have several prime cards...and I have the GM Card. Household may have the reputation of subprime, but the service from the GM Card division has been prime. The purpose of a GM card is to earn 5% rebates which can be appliled to a new GM car. If this is not your goal, I would look for another card. The selection of a card should be based upon its benefit to you, as well as your ability to qualify. If you don't buy new cars, a cash back card or a gasoline rebate might be more practical if you are looking for a rebate.
Acctualy, how high CL GM card gives? I was thinking something probably low - up to 500$. Any input? Thanks, Denny
I don't know how high they go, but my current cl is $12,500. I started out with $6,500. I have a 9.2% variable rate on purchases, and a zero percent bt offer to me right now. They have a variety of bt offers, so you have to calculate which one is the less expensive when transfer fees, if any, are added.
my gm card began at 600..they havent raised the CL since. my citibank card has had the CL raised 3 times in the same amount of time that I've had the gm card. with the same type of usage and payments. thinking of ditching this gm card shortly. interest rate sucks too...its almost double what my citibank card is.
I would not knock Household that much. I have also been told that they are a subprime lender but I have 2 accts with them. On 1 account which is technically and Orcharcd acct I started off with a 300 limit and it is now $1800 with a fixed rate of 9.99%. So you can get could terms with them and I find PFB to be a good way to go about it.
