Most of us may be not interested in store cards. Because they often don’t provide great sign-up bonuses. Some store cards even only offer cash back or other rewards programs for shopping at their stores. Not at all places! However, since they have their own costumers, credit card issuers are willing to work with they to promote credit cards to their customers. GE Money, one of six major operating divisions of General Electric, is one of the largest issuers of private label (store) credit cards for a number of U.S. retailers including Wal-Mart, Sam’s Club, IKEA, and Lowe’s etc. Last June, GE Money teamed up with eBay and introduced the latest credit card product-eBay MasterCard.

Right now, if you apply for a eBay MasterCard and get approved, you can get 15% off (up to $25) on all purchases with eBay MasterCard until September 2, 2008. This new promotion is only valid if you apply and are approved for the eBay MasterCard between August 1, 2008 and September 2, 2008. 15% discount only qualifies on purchases made between August 1, 2008 and September 2, 2008, using eBay MasterCard. Qualifying purchases may be made on eBay, or everywhere else that accept MasterCard. A 15% credit on the qualifying transaction(s) (up to $25.00) will appear on your eBay MasterCard statement in the month following the transaction(s).

This eBay MasterCard will give you 1 reward point for every dollar charged on your eBay MasterCard at eBay. Of course, reward points are also earned with everyday purchases wherever MasterCard is accepted. Then, you can redeem your points for anything on eBay. Sometimes, you can even get promotional offers from eBay.

Other amazing features of this eBay MasterCard are:

• You can choose your card from 3 possible card designs at application.
• You can choose to add your eBay user ID to this card.
• The card also features Safe Shipping, which protects them if their item never arrives.
• The eBay MasterCard will be automatically linked to your PayPal account since you have to log in your PayPal account to submit your application.

The promotion page can be found through this link.

Here is how the application process goes according to GE Money.

When you apply, you will first be considered for an eBay MasterCard, which can be used anywhere MasterCard is accepted. If you don’t qualify for an eBay MasterCard, you will then be considered for a PayPal Buyer Credit account, which can be used on eBay and anywhere PayPal is accepted. New PayPal Buyer Credit Accounts and existing eBay MasterCard accounts are not eligible for the 15% back offer.

Personally, I think the credit cards from GE Money is not so attractive to general consumers. There are other retail credit cards out there offering better rewards and sign-up bonuses. For example, the new Amazon.com rewards visa card issued by Chase is offering $30 bonus plus 6% cash back for the first 90 days! The Buy.com platinum visa card is also offering $30 bonus.

Finally, get a store card might be helpful to your credit score. This may bring diversity to your credit report.