New addition

[memphis_raines]

I guess you've all heard that GE Capital no longer does business with firearm dealers. I just purchased a Remington 870 Tactical with a 7 round capacity and that scary black stock. The best part is that I bought it with a GE Capital card with no interest for 12 months. As soon as it's paid off, I'm canceling the card and telling GE where to stick it. (Insert evil laugh here)

 

[ragtown]

Amen brudder! I will verify the new policy and if true, my GE card will be returned in shreds with a note telling them to stick it @#$%^&. Tanx for the heads up.

 

[AgentSmith5150]

What exactly does that mean "GE Capital no longer does business with firearm dealers"? My wife and I have a couple cards that are issued by GE Capital. Do you have links to articles you could share?

Oh and on a side note, be careful if you cancel that card. You can put a really negative dent in your credit rating by closing the account.

 

[Andrew Lee]

The local gun store here in canton ohio is having a12 month no interest gun sale and GE is the one financing it.

 

[memphis_raines]

Here's one article: GE Moves To Stop All Loans To Gun Shops
Google "GE Capital anti gun" and you'll find more, but most of them say basically the same thing.

 

[Lou R]

Oh and on a side note, be careful if you cancel that card. You can put a really negative dent in your credit rating by closing the account.

Could you please explain how or why that happens, thanks. Sorry for changing the subject,

 

[.38 girl]

I guess you've all heard that GE Capital no longer does business with firearm dealers. I just purchased a Remington 870 Tactical with a 7 round capacity and that scary black stock. The best part is that I bought it with a GE Capital card with no interest for 12 months. As soon as it's paid off, I'm canceling the card and telling GE where to stick it. (Insert evil laugh here)

That is awesome!!

 

[AgentSmith5150]

Could you please explain how or why that happens, thanks. Sorry for changing the subject,

Well it depends greatly on how you used that card and how long you have had it. Say you had a certain credit card for 6 years. You never let the balance max out you always paid on time, that track record has built up a substantial boost to your rating. If you decide you don't want that card anymore for whatever reason and you close the account and cut up the card, all that awesome boost to your credit leaves with that card, your credit rating takes a nose dive. If you've only had the card or cards for a very short time, like less than 18 months, it won't make that much of a difference. You always benefit from a long, good-standing credit history.

Here's a good source for more info:

Cancelling Credit Cards | Credit Card Help

 

[memphis_raines]

I will take a little hit on the credit to avoid doing business with GE or any other anti freedom Obama whore.

 

[missoak]

You take a small hit on your overall score everytime there is an inquiry.

 

[Lou R]

Thank you Agentsmith