GE Money Bank review: Being sued for outrageous fees! 92

Same thing is happening to us. We sent the payoff amount for the boat (it was already sold) and they people took the boat home with them. They had it in hand, told us to send a fax as that was the only way they could "accept" the payment. This was done. We had to send it 4 times. they said, ok were accepting the payment. Then, they claim they didn't and sent the check back. Its been a month, we have not gotten the checks back. Corruption. Amazing, how do these guys sleep at night.

Always ask for a supervisor when you get someone who doesn't speak English. They are Level 1 Support, and they follow a script.

GEMB Lending, Inc. has offices in Irvine, CA where we make payments on our motorhome. We have a dispute with them over a late payment, so I tried to find them. I checked with the California Secretary of State and could find no listing for them. When I called customer service I got Sue #7084 in South Dakota. I asked for their legal depat, as I don't believe they are licensed to do business in California. She could not provide one. So I think we will stop making payments on the loan.

My account got setup with them 13 months ago, my statement has gotten "lost by the post office" every time. I have never received any statements from them only letters from their attorney don't get lost. When asking for a supervisor they say they don't have one, when asking for a legal address I was told they don't have one. I have my bank send all of my payment thru their bill paying system 15 day before the due date. They always get deducted by GE says they only got some of them. It is a joke. They can sue me for any late fees, I am not paying them.

The motorcycle dealer where I did business got my loan through this outfit. I bought a new '07' Yamaha at just over $14,000.00, although the loan after interest comes to well over $18,000.00! They wanted a $10.00 fee just to pay this loan over the phone, as their paperwork didn't arrive in time for me to pay them the first payment on this new loan through snail-mail.

I haven't been able to locate the S.D. office either on-line or through any other directory.This dealership did me no favor financing me through this outfit and I expect I'll have the same type of problems as everyone else here has.

I would like to add my name to the list of many who have complained out the exorbitant fees GE Money Bank charges. My balance is low and, because I missed one payment, they tacked on a 29.00 late fee, thereby canceling out 2 months worth of payments. I am currently attempting to pay the small balance off in full as we speak but am unable to access their web site.

This is one of the shadiest banks out there. They set you up for failure so that they can take advantage of you. I had very bad experience with these people with $800.00 left on my account I was charged $1200 finance charges when I still had 6 months left on interest free payments. If you are a consumer please avoid doing business with these people. I would also recommend that you stop using all their consumer products.

I feel for all those who complain about GE Money Bank. I obtained a carecredit account through a dental office and from the first moment I had problems with their customer service. My biggest beef with them is that I kept on reaching some people in India and quite frankly I had to hang-up and try again a few times until I got someone whose accent was not horrible! I was fortunate that I could write a check to pay them off the tell them to shove it but the truth be said I am shocked that this entity is part of G.E. because it brings a black cloud over such a venerable name. Stay away from GE Money Bank, run!

I agree that the service at GE Money Bank is terrible and that they don't even operate like a regular bank. I have battled with them for 4 months over a fraudulent credit card charge from a merchant I never even heard of for a product I would never purchase. They have sided with the merchant just because the merchant had the correct information. The bank is suppose to take the side of the customer and I know for a fact that all they had to do was have me sign an affidavit to protect themselves. They refused to do this. I have complained with the BBB and with the State's Attorney Office, but so far no positive results for me. So my only alternative now is to create as much bad publicity about them and Sam's Club that I can. Also, be wary that any fraudulent charges that I have had have come through PayPal. It is too easy to use PayPal and they do not have enough secondary security to protect consumers. The merchant by the way was Devellion.com.

I totally agree. In my opinion, GE Money Bank is a complete ripoff. I have had a similar experience.

I financed some solar screens. The original loan was for 6000.00... after two years of paying I have only brought down the balance 600.00! I have been paying over 100.00 per month! Never ever get a loan with this outfit!

I have a care credit account since February. I had a zero interest for the first year. They have never sent me a statement, even after calling them and making a payment over the phone. Finally I was one day late on two occasions and my rate went to 27%. I still have not received a statement. These people need to be prosecuted criminally for fraud and put out of businees. Now that I have read that they are PURPOSELY not sending statements that is commercial fraud. I am an attorney and I intend to sue. No legal fees for me but there will be for them!

I wish I saw this link ahead of time.

October 3, 2007

I was charged $1,548.40 just for interest (22.98%) this month of October 2007. I never miss a single payment nor have ever been late in paying them.

Other credit cards use to waived fee if I missed payment unintentionally. Or ever if it is our fault of missing a payment they will waive it one time.

But for GE Money Bank, they are cruel and unforgiving. This penalty is way more than the penalty of my half million mortgage loan of 100.28.

Care Credit card? They don't really care. That name is FAKE.

My wife sent a letter today to:

Jeffrey R. Immelt, CEO
Corporate Headquarters
General Electric Company (W2E)
3135 Easton Turnpike
Fairfield, CT 06828
[protected]
[protected]

I actualy have an $82.00 credit on my account, however when I tried to use my card, it was denied. When I called the company they transfered me to someone in India, that didn't speak clear english, who asked me a series on question, and then told me I failed the verification test and to try back in 30 days. This is totally crazy. Thanks for the info on the corp. headquarters. Let's see if they will do anything.

I don't have to go into details about this company as every story is just about the same. The only difference is the amount owed. Be aware that Murvyn's, Sears, Dillard's and I suspect every consumer credit card issued through any retail giant is using G.E. Money bank, which I have discovered is an offshore credit scam. I am seeking legal recourse as I speak. I had a construction company assign my agreement to them and I have never signed a credit agreement with them. They have stolen more than $3000.00 in payments in 8 months and my balance is over $500.00 more than the original amount borrowed. We need a class action here for sure.

There it the bottom of the barrel. When they take advantage of people with there care credit accounts, due date is the 1st get paid the 3rd they tack on $35 late fee for 2 days will not budge they are the worst of the worst so why are they getting away with this! And all there fees please someone go after them! How can they take advantage of people when they have medical emergency's for them or there pets thats the lowest, this is suppose to be a caring country come on we live in America.

I just have to tell ya - I short paid one pmt by 1 dollar mistakingly and after two late fees and a double interest rate, I owe them more than when i started. How do they get away with actually putting $10 bucks out of $100 towards the loan? Just not fair. When I bought my windows from Sears I had no idea this would happen. I hope someone can do something! Scary stuff!

Add Linens N Things to the list of retailers that use GE Money Bank. My strategy? I am going to write Linens N Things since as far as I am concerned --it all started with them: 1) They PUSH the instant charge card upon you to save 20%, the cashier receives a bonus, and they fail to take down correct information in their haste to push you through the line. 2) Since information obtained was in error--you never receive a bill or the charge card --you forget about the purchase. 3) Without due process --BAM you are in collections hell! I say we start bringing the attention of these deceptive practices of the RETAILERS to the consumers attention. I wish you all the best --keep fighting.

My complaint is basically as all others. I was at my dentist office and told I needed over $2,500.00 worth of dental work or my teeth would fall out. Having no dental insurance, the office lady told me of the wonderful Care Credit program. I could get a $9,000.00 line of credit form Care Credit and the interest rate was only 9 1/2 percent. Sitting there thinking about being "toothless", I promptly signed up. However, the $2,500.00 bill soon became nearly $6,000.00. The dentist "kept finding more problems". I started paying $300.00 a month on my bill and all went well for three months. On the fourth month, the Post Office actually did destroy one of my payments in a postal machine. It was sent back to me in it's tattered condition. Upon receipt of the destroyed check, I called the toll free number to explain what happened and offered to send them a copy of the check and letter from the Postal Service. They said it would not be necessary. Of course it wasn't. By this time, my interest rate was hiked up to 27 percent and has remained that for 23 months. I have paid $300.00 or more for 23 months and my balance is still $5,300.00. During the course of crying, calling and arguing with the representative, I discovered Care Credit was owned by GE Money Bank. I will be paying this off when on Social Security. No legitimate lending institution will loan me the money on an unsecured note. So, I AM STUCK. Additionally, I called my dentist office and complained because I felt they pushed this on me at a vulnerable moment and then tried to use up the entire $9,000.00 line of credit. Needless to say, I no longer use this dentist.

I had a CareCredit account, and also purchased furniture on account that was financed through GEMB. Of course, they don't tell you who you're dealing with when you go through a store - just tell you 6 months same as cash. They got two late payments on the Care Credit account - yes, I was a few days late 2 times, BUT I was paying $100+ each month on a $20 minimum balance! They did not care in the least. In fact, they prefer late-payers.

One very fortunate thing was that they did not raise my interest rate, even though they said I was late - I feel very blessed after reading all these horror stories.

One thing to be careful of: on the furniture purchase, I did not receive my card in over 2 weeks - when I called to inquire, he said 'we'll just send you another one". I said "Whoa - don't do that. You need to find out about the lost one and cancel that account number." He said there was no need because they would not be able to activate the card. When I asked what information they require for activation, he said: Your name and telephone number/or last four of SSN. I said, you will activate on name and phone number alone? He said yes, or SSN. This guy was a complete idiot, because he acted like a light came on when I finally said "My full name would be on the envelope, would it not? Phone numbers are usually public information." He said, well I understand your concern but it can't be lost in the mail - it would be returned to us if it went to the wrong address. I'm telling you, I was in shock at his stupidity. [His name was Moses, by the way - and he did have an accent :)] So BEWARE - they do not have good card activation security.

Recently I opened a charge account at Kirkland's, a rush job as mentioned above - only to find later that it's through GEMB! All I can say is, send your payments insured mail with delivery signature required - then you have proof that they received it. I have not had any problems with on-line payments - so that's the way I go. When I make a payment, I print out and keep confirmation number, etc. I also check back later and print out the account info showing the payment and balance for additional support.

To Diane above who owes thousands - if possible, do a balance transfer to another card or a new card. Even if it's a high interest rate, it can't be much worse than dealing with GE, and most card companies love to do that for you. If all else fails, get a debt management company to deal with them and pay through a third party - it really doesn't hurt your credit in the long run - not nearly as much as keeping a balance with them will.

I've decided to document the heck out of everything and keep taking that free money from them on the 'same as cash' deals. Yes it's a gamble, but now that I've figured out their system, I like the idea of beating them at their own game. Free credit is a great deal if your willing to do a little extra work to get it. Just pay a month in advance and verify, verify, verify. So far it's worked for me.

Oh my god - I never realized there are so many complaints against GE money bank for the same thing. They "sent" my statements to my old address (I had moved 3 years prior) and then all of a sudden my bill was outrageous. They called me at home and offered me a "settlement" which was a couple of hundred dollars more than what I owed. I agreed and they said they would take the money out of my checking account. After that, I received a statement from them showing a credit to my account so I thought I was done. Then, after a couple of months, I received another call from the same collection agency and this time the balance was higher than before. I explained to them that it was already paid and they told me that the payment from my checking account never went thru. I called my bank and they told me GE never initiated the charge. So, I refused to pay. After several months (and many calls later), out of desperation, I finally agreed to another settlement which was about $400 in fees plus the original amount of about $900. I can't believe these guys would use these tactics.

These people at GE Money need to be given some training in common sense and customer service! I've been in the banking industry for over 20 years and am very familiar with the check posting process here in U.S. My mother had a check clear her account last month via a process called "check 21" but since the check cleared she has been getting harassing phone calls telling her to make the payment. So I instructed my mother to send them a letter with a copy of her statement proving that it cleared. That was over a week ago now. So here come the harassing phone calls again. Listening to my mother's phone call today and hearing her frustration I decided to help my mother and speak with this customer service super. When giving the customer service sup all the routing & transit information about the check and how it cleared she still was unwilling to help. I told her that i would fax & email to get the process moving yet she was still unwilling to help so she transferred me to another sup after about an hour of nothing i asked to speak with their urgent resolutions dept and he was unwilling to. So he was supposed to transfer me to another supervisor or manager and that where I got hung up on. It's a very simple process especially when you have all the routing & transit info to get your customer the credit they deserve. It can be done within30 minute time frame. It's a shame that banks now-a-days make their customer go through all of this drama when it is their job to be doing the research. Just to put my 2 cents in, BANKING INDUSTRY stop spending the money overseas and hire and train the quality people you have here in the U.S. that I guarantee will keep your customers happy.

Thanks to Garry Antonio, for providing the following info.

Jeffrey R. Immelt, CEO
Corporate Headquarters
General Electric Company (W2E)
3135 Easton Turnpike
Fairfield, CT 06828
[protected]
[protected]

You call the CEO enough and I guarantee their customer service policies will change or they'll do the cowardly thing and change their phone number.

...still waiting on a call from the CEO's cust service dept.

We need to start a petition to sue these people, I am so sick of reading these articles- it makes me ill.

If you are in agreement with my proposal, please send me an email, I will be getting a petition together shortly to send around.

Thanks.

You think your story is bad. They actually stole my refund. GE Money made a claim that they had sent a check for the full amount of the refund $1163.68 When informed that I had not received the check, they said I had signed and cashed the check. They said they would send me a copy of the cancelled check. I never received the original check, a copy of the cancelled check with my alleged signature, or paperwork of any proof of actually sending the check. They refuse to work with me. They have poor service, give me the run around of who to talk to, and still have refused to give me the money after 3 months, that I am due. They can show no proof that the money from the original check was spent, for $1163.68. They have committed theft and fraud. I want to sue, but I cannot find a registered agent to sue. There is no record of them in my state.

Just ad one more unhappy customer to the list. I got my ard through Empire Carpets and had 18 months to pay it off without interest. I paid the full amount up 6 months after i opened it and was never late with a payment! GE Money Bank just sent me a letter stating that they are closing my inactive account based on my past credit history and it will show up on my credit report as closed by Creditor! If i had known about this, I would have closed the account myself. I called to complain and all i got were rude statements about how it is their right and there was nothing that could or would be done! I will never deal with GE Money Bank again. I wish I had known before it was too late.

Nov 9th a
maytag stacking washer and drier was delivered to my home, the truck driver installed it, it wouldn't start andf I kept calling the officew , finally it started and called office bAck , told them it was ok. Wewll on sun. morn we were doing laundry and when the drier started it blew all the electric , daughter went to flip the circuit breaker and fire flew. Called the company(Jacksonville Applianee) they sent two technicians out to fix it. Our electrician told us we would have been killed if we were touching the metal. The two tech's found electrrical tape on the pig tail ans wires were going to ground. Well ity acted up and we want another one to replace it.si faR THEY HAven't done so, they said they were going to bring one to replace it. Called each day and they are waiting for a fax so they can dio it. well here we have been with a faulty unit and it is over a month. What can you do, I sent a letter back to you about thye trouble but have never heard anything. I am not paying for a unit I can't use , cancelwed the card and when they called and said they would change it , I reinstated the card. Still many days after we are withiout a unit. When i called through the ph numver for customer services . i do not get anywhere. I do not have all day to hold on a PHONE WAITING FOR HOURS. iF THIS ISN'T RESOLVED ASAP WE WILL CANCEL THE CARD AND TAKE THEM TO COURT. tHIS TYPE OF SERVICE IS WRONG. I AM 83 YEARES OLD AND THEY SAID TO TAKE MY CLOTHES TO LAUNDRY MAT. i REFUSE TO PAY FOR SOMETHING DEFECTIVE AND WE WILL GO ELSEWHERE FOR A UNIT.

I guess my father is not alone in this big scam by GE. He purchased an AC unit by a third party com. (Reyna Heating & Air Conditioning) that applied for a $ 7000.00 loan with a 22.25% intereset rate through GE with out providing this loan info to my father. My father is an elderly person that tends to trust people, his mistake was to trust the sales person who offer to install some windows as an incentive for purchasing the AC unit. To make this long story short, the AC was intsalled and my dad worried that he was not receiving any statment, called the sales person. As a results of giving my dad the run around I became involved in the matter. I obtained a copy of the sales receipt from the above company (which by the way never gave copies to my dad) mentioned above and that is when I found out that my dad had been given a promotion for three months from GE with out any interest charges as long as he paid by a certian date. By the way this date already had expired and my dad never received any statements from GE. When I called GE on this they gave me the sames story as the ones mentioned by the other consumers, according to them the statment were send out; they claimed there was nothing they could do about it. We send out the full payment immiditely for $7000.00 and asked for the $514.00 worth of interest to be removed. Up to this date they have not done so. They send me copies of all the statment that were never received, but they are now too late. By the way we are also struggleing with the false promise by Reyna Heating & Air conditioning on installing the windows.

My wife and took out a $5000 line of credit with them earlier this year. A payment some how," got lost in the mail," and we have been paying out the nose for it. The payment was post dated 4 days prior to the due date. We were told that it did not reach them until 3 days after the due date. There fore it is our fault that it didn't reach them in time, we were told very rudely on the phone, and we must pay the fees. Little did we know that we would be hounded for months for the money. Even as we payed it off each month they keep tacking on fees. Now we are told that in two more months we should be back to our agreed monthly payment. I'll beleive it when I see it.

I couldn't agree MORE! This is the worst credit company I've ever dealt with and I'm going to encourage Cost Plus World Market (who I opened the card through) to cease business with them. I have NEVER received a bill except the initial one. I can never find them online (I'm looking right now and this is what brought me to this site), in any search I do and last month my user name changed on it's own, I have 4-5 other credit cards that this has never happened with. Oh yeah, I'm sick of talking to people in India too!

I needed alot of Chiropractic treatments on my neck and my chiropractor had just gotten set up with Care Credit. I was paying cash as I went but they asked me to be the first to sign up with this new company, they wanted to see how hard it was going to be to do all the paper work? So I agreed to be the first one to help them out. For the first 6 months every bill I recieved from Care Credit had interest added into the bill. I had to call them each and every month to get the interest removed. Then just when I almost had it paid off, I broke my ankle and low and behold now with the interest that has been added to my balance I owe them more than I did to start with. I called them and tried to talk to them about how I had paid every month before time of payment and more than the minimun payment and that I had broke my ankle so could they not add this 27% to my account. Well, that is my problem as you well know. I also asked them if my credit wasn't good then why did they approve me first thing for over $4000.00? I do not think it is fair to charge that kind of interest to someone that has good credit and the whole thing seems to be a SCAM to me. I do not know how many people would have to complain against this company before anything would be done but I would like to know? It's like UN-FAIR!

I bought a motor cycle 5 years ago they only recieve payments when its god for them ,when they can whack you with a $3500 late fee and 25.697% intrest rate i say they are the biggest rip offs going somebodydo something.

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I bought a motorcycle at just under $9,000. Got the GE Money Bank slip just as all of you did. My payments are $224./mo. I usually double or pay 2 and a half times but I split the payments monthly, always pay well ahead but their trick is to lump my payments as one and calculate the payment on the Average Daily Principal Balance and use a full 30 or 31 billing cycle when the cycle should be interrupted to make the calculations. I pay 8, 10, or 15 days at a time and on a couple of occassions paid only the minimum $224. to see the difference in their calculations. I doubt that you would be surprised to learn that they were ripping me off big time. A difference of $224. in one month and successive payments of $300. in an 8 to 15 day cycle lowered the finance charge $7 to $10 only. This resulted in a $45 to $50 principal loss with each payment. I have taken my complaints to every consumer protection avenue available and I recommend all of you do the same; Attorney's General state, federal, BBBs, Office of Thrift Supervision and even your U.S. Representatives and Senators. Go for the throat and by all means do include the merchants that sold you the bill of goods. We may get a class action and we may even yank their charter but it won't happen if you don't show GE Money Bank you mean business! I do!

Same story with me. I told them- no statemetns, no payments. As simple as that.

This is the first time I have aired this out on the internet because most likely I am just wasting my time but here it goes.
My wife purchased a 18 ct wt diamond ring which blew my mind I told her to return the ring, Whitehall Jewelers would not take the ring back because of the trade up policy (whole other story)

I went to GE and filled a formal dispute as it states on the back of your statement.
Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services
The acknowledged my complaint and said that thier policy does not cover Whitehall Jewelers return policy and my complaint is with Whitehall.
A month later another letter comes acknowledging my complaint again, this happened for 3 months every month a statement would come followed by them acknowledging my complaint again, when I called customer service they told me to ignore the statement because they were still inquiring into my cpmplaint.
Thenext month I get a letter from a law office demanding payment in full anf am now waintintg a court date.

I bought gutters and drains which was financed through GE Money Bank. The gutters and drains are fine but GE Money bank is horrible. I was charged twice for the original order and it took forever to straighten this out. I get no notices and then they have no reason. I pay about $85 a month and do not know what it is really for. I wrote to Attorney General of NC. They replied to me but not GE. I am 71 years old and I am going to try to get a bank loan because I cannot stand the mess.

I dispise this compasny and all inastruments of the money gauging banks. These bloodsuckers have gotten away with charging exorbitant rates for years. Our so called lawmakers have done nothing to protect us. We need a class action lawsuit to declare war on these banks. I have destroyed my credit cards and i refuse to do business with them. My next move will be moving out of the bank of America and swtching to a credit union. Credit reporting is done by services who owe their existence to the credit card companies ( banks) and and unjustly control our credit with slanted reportsd which go unchallenged because as individuals wse are powerless to fight them. We need a class action suit to put these lying organizations out of business

GEMB are credit preditors and scam artist. I bought furniture on a one year no interest agreement. At the end of one year I figured we would start making payments with interest. But what happened is they said it was differed interest and they tacked on $1008.00 in interest plus $149 overlimit fee and started charging me 23.99% on the balance. They are loan sharks and I am not going to take it. Anyone interested in a class action suite against them?

I had a perfect credit score before I used this lender. I send my bills out 7 days before they are due GEMB never seems to get my payment on time and charge me fees every month I will be refinancing after the last month. They waited 30 days before cashing my check then had the nerve to report me 30 days late... I have never missed a payment before this... This is a joke of a lender and I wish they could fry for what they have done to my credit I worked to hard to establish

This bank is the worst of the worst. Its ashame that our government allows these crooks to pray on the public. Boycott these criminals and complain to the companies which use this bank.