TexasCHLforum.com

txglock21 wrote:The best thing I ever did was about 5 years ago, paid off ALL my credit cards and cancelled them. Do not have a single credit card. I use my bank debit card which can be used as a credit card if needed, but if the money isn't in my account or I can't pay cash, I don't buy. You wouldn't believe how much money I have saved over the years by doing this on little thing. BTW, half the cards I cancelled were GE Capital backed. They were the worst on all counts.

Good move, $22k and I would be debt free, cars and mortgages included!

For those that are interested in cancelling you GE backed credit cards, here is a link to what cards are issued through them:

http://www.creditcardcatalog.com/credit ... tail-bank/" onclick="window.open(this.href);return false;


April 14, 2013
Credit Cards Issued by GE Capital Retail Bank



Amazon.com Store Credit Card
American Car Care Centers Credit Card
American Eagle Outfitters Credit Cards
Ashley Furniture HomeStore Credit Card
Babies R Us / Toys R Us Credit Card
Banana Republic Credit Cards
Belk Credit Card
Brooks Brothers Credit Cards
Chevron and Texaco Visa Cards
Dick’s Sporting Goods Credit Card
Dillard’s Credit Cards
eBay Credit Card
GAP Credit Cards
Golfsmith Credit Card
HH Gregg Credit Card
JCPenney Credit Card
LensCrafters Credit Card
Lord & Taylor Credit Card
Lowe’s Credit Card
Meijer Credit Cards
Men’s Wearhouse Credit Card
Old Navy Credit Cards
PayPal MasterCard
QVC Credit Card
Sam’s Club Credit Cards
ShopNBC Credit Card
Stein Mart Credit Card
TJ Maxx Credit Card
Value City Furniture Credit Card
Walmart Credit Cards
World Market Credit Card

Other GE Capital Retail Bank Financing Partnerships:

Care Credit



If you are cancelling them I would suggest not cancelling through the $7.25/hr phone operator or the offshore call center. Take a minute a write a letter to the CFO of the company you are cancelling the card with, and explain you decision. There is about a 0% chance it will reach their desk, but it will reach someone who may actually say something to them if they continue to receive these types of cancellation letters.

http://www.marketwatch.com/story/ge-cap ... k=MW_pulse" onclick="window.open(this.href);return false;

Peter Lanza, the father of Sandy Hook gunman Adam Lanza, is an executive at GE Capital

A bad business move motivated by a guilty conscience....