GE Money To Support Online Discount Dealer
While the Crazy Eddie’s of the world have dwindled in the brick-n-mortar landscape, the deep discount dealer has found new life on the Web, and one, PeachDirect.com, is getting some help from Retail Sales Finance, a part of GE Money. Under an agreement between the two companies, PeachDirect will begin offering its customers a consumer credit program called the PD Platinum Card. Essentially it works as a store card with a 23.99 percent variable interest rate and a credit line up to $5,000.
PeachDirect is a Los Angeles-based Web site that allows consumers to buy name brand consumer electronics, such as iPod Nanos, Sharp LDC TVs and Hitachi rear-projection TVs, with no-interest (only if purchased with a PeachDirect card) monthly payment options. Consumers can purchase high-ticket items without having the full amount availalbe. For example, a Samsung MiniDV Camcorder, which has been discounted to $336, can be purchased for $10/month. Some merchandise can be returned in 15 days, some cannot. For example, according to the PeachDirect Web site, televisions over 26 inches cannot be returned.