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GE Capital Retail Bank PC Richard and Sons Credit Card — Best Option for Financing?

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There’s always a time in life where electronics or appliances are needed – but they can cost a pretty penny to replace old or outdated machines. That’s where the GE Capital Retail Bank PC Richard and Sons Credit Card comes in – this credit card offers financing options to cardholders who need to replace an appliance or gadget and don’t have the hundreds of dollars sitting around to pay for it.

P.C. Richard and Son, commonly referred to as P.C. Richard, is a massive chain of family owned appliance and electronic stores throughout the United States. Though there are stores throughout Pennsylvania and New Jersey, most of the stores are located throughout the New York City region – predominantly around Brooklyn and Queens, along with Long Island. Opened in 1909, the appliance and electronic store now sees a revenue of more than a billion dollars annually! When the competitor store of Circuit City shut down throughout the country, P.C. Richard took over a handful of stores in the New York/New Jersey and Connecticut region. Shoppers to the appliance store will find an ample selection of:

  • Televisions
  • Washers and Dryers
  • Computers
  • Kitchen appliances
  • Air conditioners
  • Tablets

Benefits of the GE Capital Retail Bank PC Richard and Sons Credit Card

Having a store retail credit card often has a range of benefits other mainstream cards won’t have – such as no annual fee, competitive interest rates and special financing options. One of the common benefits cardholders using the GE Capital Retail Bank PC Richard and Sons Credit Card will find is there is a six month special financing option on any purchases $200 and over. Having the credit card also provides members with convenient online access to take care of payments through GE Capital or in store locations.

Purchasing new appliances can be expensive, and they are often one of those things that people need to replace in an emergency or when they suddenly stop working. Having the GE Capital Retail Bank PC Richard and Sons Credit Card allows cardholders to easily make the purchases they need and manage low monthly payments.  GE Capital is a partner to many store retail cards and offers customers a user friendly interface when dealing with payment, viewing account history and summary, as well as providing ample customer service. For those who don’t want to miss a payment or have a late fee (and subsequent increase on the interest rate) GE Capital also allows monthly AutoPay so there are never any issues with getting a bill in on time.

Having the GE Capital Retail Bank PC Richard and Sons Credit Card also means that cardholders also receive special notice of discounts or sales going on within the store before the general public.

Terms and Conditions with the GE Capital Retail Bank PC Richard and Sons Credit Card

When it comes to store credit cards, there are often many factors to look at when it comes to determining if the store card is better than a traditional credit card through another financial institution. For example, the annual percentage rate for the GE Capital Retail Bank PC Richard and Sons Credit Card is a high 26.99% — that’s substantially more than other cards offer, depending on credit worthiness. For those who have trouble getting credit cards through financial institutions, it is easier to get cards through retail stores if you are willing to manage the higher interest rate.

Retail store cards also don’t have any of the other features that some cardholders look for when signing up for a card – such as balance transfers and cash advances. If you want a card that simply provides a means for financing a washing machine or refrigerator, the GE Capital Retail Bank PC Richard and Sons Credit Card is ideal. Otherwise, looking for a rewards credit card that provides cash back or miles on purchases in addition to a lower interest rate might be a better option. Appliances are expensive to begin with, so using a card with a high interest rate means the monthly payments are going to be higher with the GE Capital Retail Bank PC Richard and Sons Credit Card over a competitive card – and you don’t get any rewards with that purchase.

One thing to consider is the penalty on a late or missing payment. Some credit cards increase the annual percentage rate up to 30% or more – and it stays that way for the life of the account. When it comes to the GE Capital Retail Bank PC Richard and Sons Credit Card, there is a $35 penalty fee for any late payments, but the interest rate does not increase.

Here’s the bottom line when it comes to the GE Capital Retail Bank PC Richard and Sons Credit Card. The interest rate is a bit higher than expected compared to other credit cards – but some cardholders don’t mind when it comes to the convenience of having a retail store card. For those looking for cash back rewards or other benefits, applying for a different card is recommended, as the GE Capital Retail Bank PC Richard and Sons Credit Card doesn’t offer anything in the way of rewards – it’s simply a traditional retail card that can be opened during the purchase process at any one of the appliance stores.

The benefit that comes with using the GE Capital Retail Bank PC Richard and Sons Credit Card is you can purchase the essential appliances or gadgets you need without increasing the balance on any of the major credit cards in your wallet. Some users prefer to keep the Visa or MasterCard for everyday purchases, while the GE Capital Retail Bank PC Richard and Sons Credit Card can only be used in store, so there’s no temptation to rack up the balance elsewhere. If you want to keep the balances low on your other cards and just need a credit line for a small purchase, the GE Capital Retail Bank PC Richard and Sons Credit Card is sufficient.

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