INDIANAPOLIS, INDIANA -- I think I caught this company stealing from me without permission and in the least it is improper and possibly illegal. Tell what you think? On Sept. 22 I paid off my line of credit on a retail purchase. At this time I will not mention the retailer as they did not responsibility for this. However I will be sending them a copy of this text. The cool thing is I went to High School in 1979/80 with the Retail owners daughter and my girlfriend is a good friend of hers!
My account was set up with an auto payment that is taken from my personal checking account on the day the money is due. They calculate the amount of the payment based on 3.5% of the balance of a minimum of $10. So On Sept. 23rd I had a $Zero account balance. On October 13th they took out $10 automatic payment, so now they have my money and I do not. They did not have permission to take any payments beyond what I had a balance due them. So if I owed them $500 they would take out $17.50. If I owed $200 they would not take out $7, they would take out $10.
So when I was in grade school I learned my multiplication tables and I remember clear as day that 0 x any other number = 0, that is ZERO. So my understanding is that they should have taken out only $0. Not $10. Does anyone think I am wrong? So then I talk to 3 of their people and (maybe I will come back and give all of their employees' names and the extension numbers. but at this time I will give them till tomorrow to follow up on their promise to get me a higher ups person).
The first person told me she could not have the money reversed and put back on my account. I said that was not satisfactory that my time to deposit $10 is $100. So they should send me $110 if I have to go to my bank to put my money back in my account. She said she could not do either. She put me in touch with her supervisor. She said she could not do anything to satisfy me. I asked for her supervisor. He got on the phone, said he was this woman's supervisor and that he understood the situation and he could reverse the payment. I said thank you!
4-5 days later I got a check for $10 in the mail from them. I ripped up that check! I called them and went through this all again, and the first person said he could not help and she would put me in touch with his supervisor. I talked to this woman who said to me that the person who promised to make the reversal is not the second woman's supervisor but her equal. So they both lied to me and he lied to me 2 times.
I asked this woman if she thought that was appropriate and she said, no they do not want their customer supervisors to lie for any reason. She told me she could not help me but she would have her supervisor call and she gave me this woman's name. I never heard from her.
I called back and went through some of the same crap again, and asked for either the last woman I talked to or her supervisor and I was told that they would have the woman who was supposed to call me within 24 hours. Just like the day before. Today, no call, so I called them again and they told me more lies about being that other person's supervisor. I cannot believe the lies I have been told or the promises they have not fulfilled.
Tonight I talked to a woman who says she is equal to the woman who never called me 2x. She says there is no way for them to reverse the payment that all they can do is send me a check. She also put the blame on me that it is my fault that they took the money out. That it is up to me to stop the payments. I never arranged for the amount. All I arranged for was that they can have a payment each month if I owed them money! So without naming names and giving exact times... what do you think? Did they break the law? What would the FDIC think about this? What will the people who own the company I bought the Dryer from think?
Bottom line, in my mind they stole money from me. They lied to me and they have wasted well over 2.5 hours of my life on this stupid $10. I feel like a fool but it is the principle. I wonder if they are doing it to any other people and how much money they have made on the interest, let alone if they have paid back the people if they realized it or not? Tell me your opinion!
INDIANAPOLIS, INDIANA -- I keep seeing complaints from consumers about this credit card company. Now, I have had a card with this company for several years, and several people I know (family and friends) also have a card with this company. I have had ZERO problems with this company, and have heard no complaints from family and friends. I see complaints about payments being posted late: Mail your payment in early if you have this happen more than once. If the check has not cleared your bank in time, then call GE Capital Cons Cardco. My checks are usually clear within 7-10 days.
I see complaints about only being able to send checks, or a "once a year" phone payment: You, the consumer, chose to purchase an item with this company as the lender. They didn't initiate the transaction - you did. Even if we are in the "technological age", it is code-named the "expensive age". The company makes more money if they only accept payments via one method (McDonald's sells Coke products and not Pepsi products... Same type of issue - the company chooses what they have and do not have).
I see a complaint about a late fee... OK - If you read the terms of this card, and for promotional purchases, you see that the "Same as Cash" is with minimum monthly payments and if the balance is paid for before the allotted date. Remember, different wording means different terms. "No Interest and No Payments" is different from "Same as Cash" which is different from "Zero percent financing". Be sure to read the fine print.
I have nothing but praise for GE Capital Cons Cardco. They offer fantastic special financing offers, several times per year. To date, I have paid this company ZERO dollars in interest fees, and ZERO dollars in late fees. I may not be the ideal consumer for a financing company such as GE Capital Cons Cardco because they aren't making much money off of me, but they still offer these great deals. Thank you for reading - and I hope I help at least one person.
RALEIGH, NORTH CAROLINA -- GE CAPITAL CONS CARDCO sold a false account with a balance of $3971.40 to Arrow Financial Services who has since given me 30 days to pay up or else. I could not get through the maze of menu and waiting at GE CAPITAL (800) number. I called Arrow Financial Services and told them that I purchased a ring at Whithall Jewelers 10/12/02. The purchase was financed through GE CAPITAL CONS CARDCO, was paid off, on time, in full 8/01/03.
GE CAPITAL CC sent me a statement and a letter verifying the payoff 8/01/03. I never purchased another thing through GE CAPITAL CONS CARDCO. They mistakenly sold my information and connected with a different account with a person who stopped paying on his/her account on or about 1//04. After speaking with 2 or three different agents at Arrow Financial Svcs., who were rude, accusative, and convinced that since my name was on the account I owed them the money, I finally got through to a reasonable person who told me to dispute their bill and to send the proof in the mail.
For some reason, they have not received my certified dispute letter with all the documents of proof on innocence. After speaking with some very rude and assertive collection agents at Arrow for a second time, I have decided to get a lawyer to help with the matter. GE CAPITAL CONS CC is a huge company and I feel they are abusing the federal laws and guidelines of fair trade. It is next to impossible to contact them. They are now selling off what they consider bad debt to collection agencies. They have no concern for innocent victims, giving any and all credit information to collection agencies.
I feel they are going to keep on this abusive business practice until someone stops them. I am going to ask the lawyer if I can open a class-action lawsuit against this financial monster who is running amuck. I am also going to call as many TV stations as possible to try to warn the public of this potential credit threat to honest, unsuspecting, paying consumers.
AUSTIN, TEXAS -- I purchased furniture from Bassett Furniture in Austin, Texas almost three years ago. GE Capital financed the $3700+ on a "same as cash" promotion. I made all 24 payments. Even though the minimum payment was around $60 monthly, I always sent in between $150 - $300 per month. I was never late on a payment (they said I was late once).
According to the agreement, no finance charges were to be charged and no interest either. When I paid off my account 30 days prior to the end of the promotion, my next statement reflected a balance due of $116.00 even though at the bottom of their statement they indicated that I had paid off the entire $3700 and that all finance and interest charges had been waived.
To make a long story short, they have refused to provide me with an explanation for these additional charges having nothing to do with the original agreement (in violation of the Fair Credit Billing Act), they are continuing to charge me monthly late fees and finance charges on late fees (also in violation of the Fair Credit Billing Act), and they are threatening to report me to a credit reporting agency (I have always maintained an "excellent" rating). I am so upset because after reading several articles on this subject, I realize that some of these institutions are making BILLIONS of dollars on bogus late fees and bogus interest rates.
The Fair Credit Billing Act is something that can protect customers from unfair billing procedures and bogus fees. Trouble is, most people will not take the time to respond IN WRITING to the agencies that can help them. Feel free to comment or to contact me. I would like permission from some others who have had adverse dealings with GE Credit to forward their story to me and along with mine. Maybe we can get someone's attention who might be able to help. **.
11795, NEW YORK -- They have destroyed my good credit. I took out a GE card to buy an ATV, and I have had more problems with miscommunications with this company than any credit company I have ever dealt with. My credit was A-1 prior to taking out this card. I was instructed to make my payment according to the invoice. When the invoice came in I made the payment. I began to get late payments in the mail. I call customer service and talk with someone who should have been working on Burger King, not a bank.
We figured out that my payment was not due until after the 10th of every month. In good faith I paid the late fee, and still received letters for late payments. I have called this company every month and they say they have fixed the problem, but never do. I paid 300.00 to get on top of it again, and still got hit with a late payment. I call again and talked with a supervisor **, she hung up on me,,,,,, This is killing my credit and we have no one to call. I have a list of payments made each month for the past two years,,,,,,, Never missed a payment. what do we do. There is no way out of this. Please help if you can..
ATLANTA, GEORGIA -- I called a laser center for information about their service. I then scheduled an appointment for two weeks later to get more information. A week before the appointment I called to cancel the appointment. The following month I got a credit card bill from GE Capital for $1924.00. Since the date of service was the same date of my original phone call to the laser center, I called them to find out what's up. Ooops they made a mistake and should have never billed (Note: the service was never rendered AND I never applied for credit). I called GE and after a 43 minute wait, I explained the situation that the charges were fraudulent and this credit card was issued fraudulently.
"We'll send some papers for you to return"... then she hung up. I wrote them a letter of dispute. The following month I get a bill with an added late fee. I called the laser center.. "oh it must have fallen through the cracks, we'll take care of it today". I called GE Capital, after a 24 minute wait... I was told I never sent back their form and that I owed the charges (I never rec'd the form). When I explained I never authorize the charges, I was told there was nothing they could do... I would have to have the laser center remove the charges. REMEMBER, I've never been to the laser center, they never rendered any services and I NEVER applied for the credit card.
I called the laser center and they said they forgot!... But it would be taken care of... Well, the next month my statement from GE Capital shows a credit of $1874.00. But now I owe the difference of $50.95, late fees and interest!! I called GE, spoke to a supervisor named ** who said, "We don't care... that's your problem". When I tried to explain the entire card was fraudulent... I was told to have a good day and he hung up!. I called the laser center and was told it's a processing fee. PROCESSING FEE FOR WHAT!!!
I've written my third letter, filed a complaint with the BBB, completing a complaint form with State's Dept. of Consumer Affairs. I'm going in the morning to file a complaint with our local police dept against the laser center for fraud... What else can I do with GE Capital??? Any class action suits? It's all fraud... yet my responsibility to pay the bill and to clear up this mess. A nightmare...over one phone call!