GE Money Bank reviews and complaints 2
View all 317 complaintsGE Money Bank - lowering credit limits again!
Back in october ge money bank cut everyone's credit limits down within a few hundred dollars of their current balances - well, they are on round two because I just received another letter from lowes stating they are cutting it again based on the credit report - the same one that ge money bank f-ed up last time by cutting my huge and unused credit limit down to be within $200.00 of my balance at that time! Credit scores are based on the available credit to balance ratios, so when they lowered it the first time, they lowered everyone's credit scores - so now they can do this all over again and lower it some more! I am pissed! I am now thinking about going to all my other ge money bank stores that still have good balances on them and charging them to the freakin max before they cut those credit limits too! I am no longer paying them more than the minimun payments either - I will never buy anything ge ever again! I urge everyone to file complaints with the thrift and loan, and attorney generals office, and even email the white house to insure that they don't get any bailout money! I guarantee you that if they get bailout money, they won't be raising our credit limits back up to what they were, and will most likely all give themselves a nice big fat bonus check too! Screw them! Please file complaints! I'm going shopping before they cut back the other accounts -
The complaint has been investigated and resolved to the customer’s satisfaction.
GE Money Bank - Cutting Credit Limits
Cutting credit limits to balances owed on credit cards with NO proper 30 day written notices about changes to your accounts! Fill out a complaint form with your local Attorney General's Office (very simple and can be done online!) then write letters to the retail accounts they have cut your credit limit on telling them "that you will no longer shop at their stores as long as they are affiliated with GE Money Bank which means cash and/or credit purchases"! Write a letter to GE Money Bank and tell them that you are doing this and will refuse to shop in these stores as long as they use GE Money Bank's credit services! With the Holiday Shopping Season here, the retailers will lose tons of money and force GE Money Bank to change their policies, or they will go to one of the other retailer credit banks to obtain credit for their customers to get them back! Everyone needs to write these letters to make sure they (both GE Money Bank and their businesses) are flooded with complaints! Once they have seen the losses from this shopping season, they will see that we are not going to sit back and take it! What they are doing is WRONG and we can all fight back!
The complaint has been investigated and resolved to the customer’s satisfaction.
well fyi a bank does not have to give a 30day prior notcie anymore i work in a bank and for credit cards when the lower it they have to at least send out the notices before 30 days after bc of so many people finding out then maxing out thier limit so when a company loweres them they show over the limit so yes it sucks but due to so many people acting crazy the banks had to get smart and do it this way they send the notice out the same day it is lowered so not just a ge thin but all banks are doing it jut fyi
They are doing this with everyone across the board. It does not matter that you have an excellent credit rating and never miss any payment on any account.
If you call they will insist that it is YOUR credit report that prompted them to do this. THAT IS A LIE! But that is what GEMB does. Anything to screw with their GOOD CUSTOMERS!
They are cutting $2 Billion from their credit management services, so everyone is getting screwed. Including the retailers (Walmart, JC Penney, Belks etc) that are relying on their credit customers to come in and shop this Christmas.
My guess is they are getting bombarded with complaints to the Federal Trade Commission and Office Of Thrift Supervision.
Add your complaints to the ones already filed. Let the Government know who GEMB is abusing its customer base.
I own my home outright and have not bought a new car in 15 years but I finally had to get a new one. No problem, bought it with no money down and interest in the single digits. BUT GE moneybank first cut the limit on my Paypal Buyer credit. $300 down to $220. Okies. Yeah that 80 bucks will make or break me. But then they hit my Walmart card. I looked online and I guess my Lowe's is next. Yeah I carry balances on them but now I look like I am MAXED out on them. WTF?!?!? They've totally screwed up my fico. Why? I have never missed a payment. I would have the $$ in savings to just pay these cards off but I was rearended last Feb and all that went to medical since I have not settled with the insurance company. I am THIS close to taking out a small loan against my home to pay these off (I think I owe $2, 000 between all three cards BUT with my new lower score I'm not sure I'd be able.
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I have been making minium payments on my credit card and the finance charge is 29.9% so my 225.00 payment is going towards the 289.00 finance charge. Spoke to numerous people and they said sorry that is our rate and we c an not help you with this matter. the representative was rude and just didn't care. I am wasting my hard earned money on this card and I can not afford to pay them at this outragous rate.
Ever since the Recession started they have been getting worse. They jacked up both my cards on what they called paying late one time. Went from 7.5% and 12% & to 29.99%. Some of the most Crooked ### I have seen thru this Recession.
I SEE THAT I AM NOT THE ONLY ONE THAT YOU HAVE DONE DOWN RIGHT DIRTY. I HAD A lOWE'S CREDIT CARD WITHB ONLY $300 CREDIT . I HAVE NEVER BEEN LATE HAVE ALWAYS PAID MORE THAN MY PAYMENT AND YOU CANCELED IT. BECAUSE YOU SCANED MY CREDIT REPORT . THAT ISM NOT RIGHT ! NOT RIGHTN AT ALL !
I WILL PASS THE WORD HOW DIRTY YOU ARE TO PEOPLE .
ANGRY, MS CAREY
GE Money Bank continues to receive pymnt on a loan and claims they receive pymnt after the date when proven by bank statements etc. showing they did receive pymnt on time they still charge you late fees finance fees etc. with NO explanation I REGRET DOING BUSINESS WITH THIS COMPANY, THIS LOAN COMPANY IS ALL ABOUT SCAMMING PEOPLE, RIPPING PEOPLE OR HOWEVER YOU WANT TO STATE IT NEVER EVER DO BUSINESS WITH THESE PEOPLE !
I was charged a late fee of $34 on my March statement for a late payment of my February bill. I paid this bill on 2-24-09 and only received the bill on 2-20-09. I am in FL on vacation and by the time the bill was forwarded from my home address, I only had two days to it back to you. I hardly think this is fair.
Eileen Cain
I was NOT able to pay on line!
They sure make it difficult to make payments it is true they just want you payment late to charge you late fees!
From day one this credit card company never sent my credit card on the mail.
I owe them double the money I owed when purchasing tires due to a couple of late payments.
I was offered no interest/no payments for one year. The statement sent approximately 30 days prior to the expiration said no payment was yet due. The next statement was one day after the year expired. GE Money Bank is now charging approximately 30% interest for the entire year...$2, 700!
I was supposed to get a paper bill sent to my home but never got one but I have already got a late fee of $15.00. after reading all the other complaints, I'm afraid to send them money online cause who knows what will happen to it. I called them but to no avail. now, because of this late fee my other credit card has doubled the interest rate. what should I do?
boziccoven@gmail.com
As a Senior Citizen, I get paid the last day of month, and GE MONEY BANK changed the due date on bill to the 2nd and they will not change it. It use to be the 6st, up until January 2009. Requested it be change back to the 6st. THey said that they can't due it, so now I will be late every time I send a payment in, and I will be charged a late fee of $39.00. Just anotherr way to make money, out of a senior citizen, who is on limited income.