General Electric to Test Market Its Own Credit Card This Year
General Electric Co. is planning to jump into the fiercely competitive credit card business and may try to entice consumers with discounts on GE appliances.
The company’s financial subsidiary, GE Capital Corp., plans to begin test marketing the card later this year, GE spokesman Anthony Zehnder said Wednesday from the company’s headquarters in Fairfield, Conn.
Zehnder said GE is considering trying to attract new cardholders by offering them a chance to earn discounts on GE appliances by using the card.
That approach appears similar to a reported plan by General Motors Corp., the nation’s leading auto maker, to enter the credit card business as well. GM’s inducement for potential card customers is said to be discounts on its cars.
Analysts said GE will have to offer such incentives and devise an innovative marketing plan or it will have a tough time attracting customers.
Zehnder said the card will be tested in selected local markets.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
