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

'Overpaid account on Nov 29, 2007; still waiting for refund from GE Money Bank. THEY SAY - they have twice mailed check, once in Jan, once in Feb. It is now Mar 14, 2008 and no check has been received. I have requested copies of both checks from the Accounting department today.

I am pursuing mail theft charges at the source through my Post Master, since my mail is possibly being stolen somewhere en route to my PO Box.

The [protected] & [protected] numbers both dump into the pool for customer service - which provides only information from the database, no further service.

What recourse do we have? If we owed THEM the money, we'd pay 22% - but they hold our money, we get nothing. This is unfair and possibly illegal.

Terrible, Terrible. We purchased a bed from Select Comfort, No Int, No payments for 18 months. I began receiving calls from GE Money Bank at 16 months telling me full payment was due. They charged me over $700.00 in interest on a $1700.00 purchase. I paid that very day, with the exception of the overwhelming interest, hoping that they would work with me. Come to find out the original plan was 15 months, my mistake I admit it, but honest mistake. They refuse to even work with me. Told me to go to the merchant for help, big lie. The merchant sent me back to GE Money Bank. Same thing, all Asian customer service who provide no help what so ever. Now I find out that my Lowes Credit Card is through GE Money Bank. Will pay that off and close the account too!

GE INTEREST FREE LOANS SURE THERE INTEREST FREE.!

Theres an old saying "nothings for free"

Lets see Whats free

Fact: your late on 1 payment they calculate a nice interest rate on that day late another day late more interest is calculated with there wonderful mystic interest calculator sometimes up to seven interest rates can be calculated on that 12 months interest free.

Fact: make sure you minimum deposit on your statement is going to cover that 12 months interest free.( i bet it will not)

Fact: Never take out more than one 12 months interest free at any given time with the same money lender (or if you do make sure there minimum payment is calculating in the other interest free loan...more than likely it will only be the first 12 months interest free loan... you see they like you to forget the other one so they usually only send you a statement with the minimum of only one 12 months interest free (cough) loan ...suddenly you notice your statement and your paying interest and it can be as high as 29.00% because you thought paying the minimum on the statement was for both loans...there shifty aren`t they?

Fact: Say you get a $1000 from somewhere and decide to pay out that interest free loan before the due date...make sure you dont incur penalty costs for closing the account early... yep some do charge you a penalty

FACT: INTEREST FREE LOANS CAN BE GOOD TO GET YOU OUT OF A STICKY SITUATION BUT WORD TO THE WISE MAKE SURE THAT YOU CAN PAY IT ON TIME EVERY TIME...NEVER MISS A PAYMENT AND NEVER PAY THE MINIMUM.. it all sounds good 12 months

GE Money Bank is a totally disgrace to all consumers that fall prey to their company. After paying off my balance 2 months ago, I am still getting statements with the entire balance due. My check was sent electronically from my financial institution which has provided GE Money Bank with proof of payment via fax 3 TIMES! My financial institution have provided me with each confirmation that the fax was recieved and submitted successfully, but for some strange reason GE Money Bank NEVER receives the fax. Each time I've called to speak with a so-called supervisor, they are never available and I am told that someone will call me back within 48 hrs which also never occurs. This is a never ending cycle and I am seeking legal counsel to get the account resolved. Enough is Enough! They are really trying to wait until the interest free period is over to suddenly find my payment and tack on interest... that is the game.. but TRUST & BELIEVE we will be in someone's court!

GE MONEY BANK needs to be stopped they are making millions off of people like us. I work hard for my money, and they are just taking it!

GE MONEY BANK is making millions off of people like us. I work hard for my money, and its not fair that they can just treat us like this, and rip us off!

I took my car to AAMCO in Redding, CA
spent close to 2,200 on a transmission.
I had to get a loan thru GE money bank.
I took the car back 2 days later because it was worse than before.. the guy basically told me tough, prove it! So, I have a car that is barely getting me around, and now GE money bank is charging me a fortune, and every time i send in my payment i get charged a 38.00$ late fee, even though its not late. 22.008%
interest rate, and my balance has yet to go down. So, 22.00 goes towards the loan, 38.00 to late fees, and whatever else... and i will be paying on it for yrs! Its so not fair! I got screwed double!

I worked for GE MONEY BANK, they never send out the first bill to make cardholders late and incurr late fees, they want to make $$$, they also commit fraud and tell cardholders to sign up for acct. security which is a high fee and it makes their acount over the limit and they get more fees...they intend to defraud cardholders and get $$$. They told us in training most people never get their first statements as they are not sent out...sad, but very very true!

Debbie
Kettering, Ohio

My existing personal loan a/c no. is RNKM00015022.
At the time saction of loan No.OF EMI were agreed at 30 but after paying 6 EMI, i came to know understand that total EMI are 36. It means i have to pay 06 more EMI to finish my loan with GE Money.
Which is wrong, i would certaily pay only 30 EMI . Please confirm for that i have to pay only 30 EMI so that monthly EMI can be paid monthwise.

Your early action will be appriciated.

Thanks
Ganesh Agnihotri
[protected]

I have been recently turned down for a Jc penny Credit card, ...due to insufficeient creidt History

I have a $27, 000 car loan, for a Chrysler 300, my creidt score has gone up drastically, and I have just gotten my Masterard in the mail two days agao, and
we are getting approved for a $250, 000 Home construction loan to put up our new home. and I can't get a JC PENNY creidt card! COME ON!
UNFAIR

Tracey Finck

In january of this year, I needed a TV. I called and asked for a credit increase. I was only given $75.00 so I went to Bernie's and purchased a Tv for over $400.00. On 5/3/2008, I called about getting an increase but was denied because according to their records I gotobne in febuary. These people put false information on your record. I have proof because this was the same day I purchased my new Tv.

These people are horrible I must admit. I went to get liposuction and was offered the GE money bank card. I went through with Credit Card. I had already cancelled my services with the the application which was not approved by GE, I have the letter; and then a month later I receive a GE credit card which I have never used. Then out of the blue I start receiving bills saying that I'm late on payments. I called the company that sold me GE services and they claim that I can only solve the problem with GE. I called GE and they claim that there is nothing they can do about it even though I have a denial letter. Currently its in collections and I owe approximately 4, 000 dollars which has aleready hit my credit report. I have no idea what to do and who to dispute this with and I refuse to pay for services I never received. I also found out from GE that the lipo company resubmitted the application without me resigning it or withou my knowlege! Isn't that fraud?

I would like to know how to best get complaints about ge mnoeys jc penny division to affect them. It would be great for someone like myself who has fallen on hard times and is now trying to climb out of those hard times to get a positve response.

CROOKS! They are after me for their Debt Security Plus account that I never signed up for. The original charge of $98.99 has now doubled with their late fees. I WILL NOT PAY THESE CROOKS ONE DIME. Does anyone else have these charges and how did you handle it.

pay off a balance and you still get billed and called and bad marks on credit report...outragous!

any attorney reading this, feel free to email me please.

GE Money Bank handles the reward coupons for Cost Plus World Market and did a terrible job at standing by their advertising for issuing reward coupons for earned points. My husband and I had to haggle Cost Plus for almost a year before we could get the reward coupons we were entitled to. On my statement it showed the points I accumulated, but GE Money Bank never sent out the reward coupons. When I called to speak with their customer service department, they said they had no idea with this reward point system was about. It was such a hassle. Finally after almost a year we finally received our reward coupons, with extra, for the time and hassle we spent on the issue. After reading the comments above, I'm going to close my account with GEMB. They do not deserve anyone's business!

Just called GEMB at [protected] to cancel the LnT credit card I stupidly applied for 2 yrs ago since it appeared negatively on my credit report(apparently all canceled cards appear 'negative' too). Spoke with a guy with an Indian accent named Josh Matthews who said he would cancel my card and report it to the credit bureau. I asked for confirmation but he wouldn't give me any.

lets all get together and put this on 20/20

Ge Money is ripping people off! I had the same problem w/ my credit card w/ them...VERY impolite customer services! I owe them $4, 500 for my furnitures, the next thing I realized there was an extra $2, 000 added to my card because I haven't paid off within 12 months offered as no interest. Can't argue, can't do anything about it. Please be very careful when signing up for Ge Money.

After reading ALL of the remarks left, I too am a victim of this crookedness, and am currently writing the BBB, Attorney General, FTC, & Thrift Supervision.

If there are any people out there who have information on participating in a Class Action lawsuit, one is definitely overdue.

Please email me @ JHite1983@Yahoo.com

And another consumer bites the dust thanks to GE Money Bank! So my case is actually PayPal Buyer Credit, which is furnished be GE Money Bank. I guess if you put two crooks together, you're going to get ripped off, and maybe I should have known better, but I didn't yet. You guys should love this one.

On 10-25-08 I mailed a payment to GE Money Bank on the Paypal Buyer Credit Account I had coming due. On 10/28/08 they reeive the payment, they post the payment, everything is good...the payment was even a couple weeks early. The next month comes, I make another payment, December comes, I make another payment. I go home on December 29th and see what appeared to be my statement from the above named bank, I open it up, and it is actually a letter stating that they never actually recieved the payment from me on 10/28/08, and they posted it in error, so they have now charged my account for the amount of the payment I made to them. Now my balance is higher than it was before I made my payment!

So I send them proof of the payment being made to them (copy of the money order after it was written out to them and the receipt from the money order, and the online statement that showed the payment being posted) all by certified mail with a letter requesting corrections and contact with me in regards to this error they've made.

By law they must respond to me in writing within 30 days, now it has been 39 days and I have not received a response, nor have they credited my account for my payment. However I did have another payment due yesterday, which I sent by certified mail and they received yesterday, yet thyey have not posted the payment and have charged me a $29.00 late fee! How can they charge me a late fee for receiving a payment on time?

When I called in and spoke to a representative, they passed me along to their supervisor who's name was Danielle # 2240 out of Kansas. Danielle tells me that they will not give me credit for my 10/28/08 payment unless I provide proof that they (GE Money Bank/ Paypal Buyer Credit) actually cashed the money order I sent them. She tells me it doesn't matter if they receive the payment or not, only if they cash it! As far as I know if you go to your bank, make a cash deposit, get a receipt for it, and then the teller loses the money that isn't your fault! So why do I have to come up with proof that these people cashed the money order I sent to them?

Again, a class action suit seems to be a really good idea, and if anyone has any ideas on how to get one going so these people can't continue to steal from us please feel free to contact me at kendrabogard@yahoo.com.

Let's start a class action against them. There are certainly enough complaints all over the web/.

I have the same issues with them everybody else seems to be having. No statements, lost payments, extremely rude terroristic behaviour. I've stopped paying them. I borrowed $3000 on CareCredit for surgery, payed $100-$1000 a month on the account since March 2005 and they say my balance is still $1800. When I call them they say its late fees. I don't know if they own a calculator but they're reasoning doesn't "add up"... Last month we came to a settlement of $250 payed twice for a total settlement of $500. They took my first payment of $250 and when I called 20 days later on Jan. 15 2009 to make the last payment and be done with them they told me that i had missed the payment date of Jan. 12 2009 and forfieted the settlement but not to worry the balance is only $1750 and the account is current. These blatent crooks even sent me a letter with the terms of the settlement 2 days after I tried to make the payment. They not only need put out of business but the people responsible need to go to prison. They are cowards hiding behind thier corperate identity stealing from hard working American Citizens. A scam of this size is not invisable to CEO's and board members. In this case silence for profit is participation. Starting a class action lawsuit against them is the least we should do.

I have been reading all these comments concerning GE Money and am glad to know I am not the only one who feels totally raped by the company. I had some health problems the beginning of last year along with major surgery. I still paid my bills but without notice they lowered my Credit limits on the following cards-Home Depot, Dillards, Walmart, Finger furniture, Linens N Things, Macy's. I was able to make payments and had a 1 rating with credit bureau. Now i can barely make the minimum payment because it is so high. They are crooks and i am so upset because the harrass me at work after I sent them a letter, and they start calling me at 8:00AM especially on Sunday.

They stopped sending me bills, and then tried to charge me late fees after a deferred payment ended. They did this on purpose, I'm sure. It was just too obvious. The sad part is that I only owed less than $60, so I have to assume that this is their "policy" in general, and that they don't just try to screw people with large balances. I look forward to the day when all my credit cards are paid off. Soon.

We have the same problem with GE in Australia, they now own nearly every finance company possible. Coles Blue Source Mastercard, Gold Source Mastercard, Wizard Home Loans, Wizard Mastercard, Wizard Personal Loans, GE Personal Loans, GO Mastercard, Avco Finance are just to name a few. Worse is as already said 1 day late & $35 fee, if you get paid Thursday & do a bank transfer with the loan due Friday, most banks have a 24 hour transfer period but weekends dont count so payments dont reach GE until Monday or Tuesday then they say 3-4 days late, on goes another $35 fee. When you use your card they generously let the transaction be accepted even though it goes over the limit, so on goes another $35 fee. The transaction should be declined not go over, but this is another easy way for GE to rip off the consumers. We dont have much choice of finance companies here now apart from banks as GE seem to OWN the rest. Like most have laready said here, to try and talk to a representive is near impossible as they can't & don't understand English, I wish I was Indian then I may be able to communicate with them. Even our good old phone companies now use Asian Call Centres, its never ending, & i thought it was only happening here but the rest of the world is caught in the GRIP of GE after reading all the meassages on this site. ONCE GE had a GOOD name, but NO more. I hope i can get out of debt with them, be before I die.

I agree these guys are loan sharks with false advertising!

ge Money are crooks and I hate everything about them Loan sharks!

False advertising- payment options is very limited- part of their scam!

I won't buy anthing that says GE on it!

Watch out they will change you interest to everyday instead of a monthly interest! They did it to us!

I too used care credit for dental work, a couple of weeks ago I recieved a letter from GEMONEY BANK stating that my account had been closed.When I called care credit to find out why they told me that either something in my credit report had changed or their criteria had changed.I checked my credit repoort with eqifax and from what it shows, carecredit has not viwed my history since I was first approved.
I was required to have a co-signer which has excellent credit.All payments made before due date and in amounts exceeding well over the amount due.They knew my history when approving me. When a consumer defaults on an account we still have to pay, who protects us when the company defaults against us! Practices like this should be illegal and when caught, the consumers bill should be considered paid in full!

I received a letter in the mail today that details the lowering of my credit limit.

However, it begins with "GE MONEY BANK and Walmart would like to thank you for being a valued Walmart accountholder."

It ends with “GE Money Bank thanks you for your patronage and looks forward to serving your financial interests in the future.”

If I was such a valued customer or accountholder, why was my limit lowered? Regardless, I have closed the account and will take my business elsewhere from this point on.

I have had a Walmart credit card thru GE Money Bank for quite some time now. They recently lowered my credit limit to $100.00 even though I had never been late on a payment and always paid over the minimum amount. I have credit cards from other places too and also have never been late and pay over the minimum on these too. Yet, these limits have not been decreased at all.

However, considering that GE Money Bank has did this to me, and from what I have read and heard, to many others which number in the thousands too, I have closed my account. I was quite happy with this account until recently and will now never deal with GE Money Bank ever again. In essence, Walmart has lost a customer that at one time was very happy with the Walmart experience and now, due to this GE Money Bank Credit Card fiasco, is resorting to shopping at Target only. It's not what I would have chosen and feel that I am forced to make this decision. I could very easily use cash at Walmart and would normally have no problems with this. However, I now see this as simply a principle thing.

Regardless, I would like to say thank-you to Walmart for at least the time that I did spend with your fine organization. However, I wish I could say the same for your credit card services which will probably be a future attribute to a loss in sales if this is true and that many others have this same experience..

I am very aware of my personal credit and continually remain abreast of any changes. For those who have a GE MONEY BANK based credit card (Walmart, Sam's Club, Lowe's, and a number of others) I urge you to inquire as to the status of your card in order to avoid unnecessary fees that are being imposed by GE MONEY BANK.

Folks, simply be aware of this situation and use your best judgement. I have already made my decision.

I agree my compliant is the same as others, last month I used carecredit to pay a vet bill on 8/3/09. The payment was due on 8/29, but I paid on the 8/19 for $50 instead of $47, it's a small balance of $1543.55. I signed up for the ebill which I got today for the Sept month and it now says $96.00. So I went back to the website and notice I paid on the 8/19, but on 8/24 they did a payment reversal. I just now went to Bank of America account and don't see it there, even though when I made the payment I typed the correct routing and checking number. I plan to pay it off right away and close this account, but first I will call them on Tuesday to see what is going on.

Folks, I am in the same situation and I am forced to pay the finance charges, what should I do? Do I have to contact a lawyer? Any input would be appreciated.

I bought a boat and financed it through gemb lending inc. I have paid on it for four years on time. I just received a call at 9:45 pm from an unknown name, however a number did show up. The idiot that called spoke to my elderly mother. He was extremly rude and claimed they have not received this months payment. He question on the location of the boat and about the insurance...I will refinance with someone else even if payments are higher and interest..just to get away from these sorry, unprofessional scam artist. NEVER USE THESE IDIOTS...I will be calling any supervisor i can get ahold of during bussiness hours in the a.m...I bet they are just as plain studpid as the idiot that was so rude to my mother..if anyone has any suggestions on who i can call or write about this situation..please let me know...Thanks..sue

We purchased a yr. 2000 motor home early in 2001. Somewhere along the way we refinanced with GEMB. Our payments have been $711.36 a month since we refinanced. We have never, ever missed a payment. The motor home is now worth many dollars less than what we owe. I am 73 years old and we have done our best to pay our debt... but we are now experiencing our savings depleting and will not be able to pay this large payment any longer. We believe that we could make a payment of $300 per month... up and to the day we finally die. Other options include; just not making the payment and letting the MH go back to GEMB. We can't sell it for enough to pay GEMB off. We are in a quandary! We don't know what the results would of just not making any payments... or maybe just sending in $300 a month... or sending in an interest only payment.

Made a paymen to them and site showed that the payment went through. Got confirmation from the site showing that the payment went through. Representatives said that the payment didn't go through but in "good faith" they posted it to the account anyway. Talk with representative (outsourced of course) saying that they can't disclose any information with no one but the account card holder when i was put on the account as well. Asked simple questions about their site and how it's set up...still they couldn't tell me anything. Spoke with who is supposed to be a different representatives and was told the same thing. Debated it over the phone with the main cardholder on the line. Asked for them to tell me what was the account number (which would be my account because i made the payment) and was told that they couldn't tell me but i had to tell them. Which isn't much of a dispute because i could read off any number. Contacted my bank and alerted them of this fraud-like behavior. Also asked for the number to their Headquarters and was told that there isn't one which is a lie because there are numbers online for their headquarters. I was also put on hold for over 30 mins which isn't professional and while speaking with this superior representative after questioning and telling her that i would find the numbers to headquarters on my own she got "pissy" and hung up the phone. Very unprofessional...my only thoughts for everyone is to pay them off, close the accounts, cut up the cards and never...never ever recommend their services to anyone!

GE Money bank is a complete RIP OFF
Stay away from them!
I was unvoluntaraly passed on to them with a 970 dollar debt, I have paid about 600 dollars not missing payments yet I owe 1015 today.
After one year they claimed they have to refinance and to refinance 734 dollars they charged me 293 dollars or 40% of the valur which should be illegal...
They charge late fees yet I have paid on time directly from my bank account, yet they charge me 39 dollars late feeantways, if you call to complain then good luck they are rude and completly unwilling to help or check complaint. You are encouraged to pay up.
PLEASE TO THE PERTINENT AUTHORITIES THIS COMPANY SHOULD BE INTERVENED AND REVIEWD FOR MALICIOUS PRACTICES...ITS ENOUGH

Add Steinhafels in Wisconsin on that list...I bought a bed and took advantage of th e " interest free one year loan"
The deadline was approaching and I realized their last statement was short $600 in payments...I tried for a month to get a hold of their CS dept NO ONE EVER ANSWERED .I Called Steinhafels to see if they coud help me reach someone...NO
I tried their website which is not Out of Service

So after all these attempts to pay off my balance before the interest was tacked on, has come and gone!
I called the Wisconsin Financial Intitute, and they are sending me the proper forms to file a complaint because GEmoney Bank
is a Federal Bank and then send the forms and my documentation to the address under Billing Rights Summary on the back of your statement...I hate this scamming crap

Ge money bank is a finance company. When you owe a finacne company money, they want to be paid what you owe them. If you are lazy and too stupid to pay off your debt then dont take out loans. If you pay your bills on time you wont have anything to worry about. Its not there fault you cant pay your bills on time. Its not there fault you cant manage money. Stop blaiming the finance companies and look in the mirror people.

Its not that they know for sure its the post office. Its that all they can do is send it out. I used to work in call center for a finance company and had people call saying that same thing. "you didnt sent me the bill so its not my fault the payment was late" and I be looking at the history right in from of me showing we clearly mailed out the bill. We also were able to see if it was returned back to us. In a case where mail was returned we would refund the late fee because that isnt the customers fault. However if a customer just claims "they never got it" or "you people didnt send it to me" that is not a good excuse. All we can do is send out the bill. You know you have a payment due each month regardless so it is your responsibility to make the payment.