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GE Money Bank

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1.0 out of 5, based on 2 ratings and
18 reviews & complaints.

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Incompetent Customer Service
Posted by on
ORLANDO, FLORIDA -- I am writing this review after many months of frustrations and late fees caused by a faulty website that continually posts payments as being late even though the payments were made several business days before the due date! I have spoken to a number of customer service agents regarding this problem and was told that my bank routing info was incorrect and that caused my payment to not post on time. I was instructed each time by the service reps on how to correct my banking info on their website, however, the same problem keeps resurfacing EVERY month! Only after making a big stink and much fuss, the reps spoke with a supervisor who agreed to waive the late fee of $39 and the return check fee, also $39.

Finally, I thought there was some relief in sight, as I spoke with a gentleman who actually walked me through resetting all my online info. I thought the problem was all cleared until I went to make my next payment online! Now, I can't even log on! I repeatedly got an invalid account number message when I went to log on! To make matters worse, I then called the automated phone service and when I was prompted to enter my account number and zip code, I was again told by the automated service that my account info was not valid! I now have to mail my payment in and hope that it doesn't get lost or delayed in the process!

There is absolutely no excuse for any financial institution to operate a faulty website, especially when it charges late fees and return check fees on top of criminally high interest rates! I am currently charged a rate of 26.99% and they have repeatedly refused to lower the rate, despite the fact that my credit score warrants a much lower rate, which I am getting from other banks! My experience with GE Money Bank has been nothing short of an absolute horror!
     
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madconsumer on 2008-04-27:
with all your issues, maybe mailing your payments would be best.
Anonymous on 2008-04-27:
Use the online banking bill payment from your own bank. It is a great deal more secure and reliable, and you have control of when the payment gets made, and can verify that payment was received. You are never well advised to give your banking information to a creditor.
lamett on 2008-10-27:
File formal complaints with the Federal Trade Commission and Office of Thrift Supervision. This is a violation of the Fair Credit Billing Act and the Electronic Funds Transfer Act.

GEMB knows this and is counting on you not knowing or finding out about it.

Mailing payments to GEMB does not work either, even with cancelled checks to prove they cashed it before the due date - I have seen many complaints where the customer was told the check never arrived. Even sending the copies of the cancelled checks - they just claim they never received it over and over again
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Company Neglects to Send Bills
Posted by on
Rating: 1/51
DAYTON, OHIO -- Stay away from this disgusting institution!

I changed my address in November of last year in anticipation for my move in December. The company did not send me a bill until May when apparently my promotional interest period expired an I was already 69 days late on a payment. I have never been late before and the amount in question was 48 dollars. Now I have this stain on my credit report that the company refuses to amend on the basis that they never received any returned mail so I must have gotten the bill. Give me a break! Why would I let my credit take a hit over $48??? Stay away from this company! Oh and then won't even respon to my BBB complaint.
     
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clutzycook on 2013-06-04:
Even if they don't send you the bill, you're still responsible for paying it. Next time something like this happens and you don't see your bill for a month or so, call them and figure out what's wrong. Alternatively, a lot of places these days allow you to view your bill online.
GE Capital on 2013-06-06:
**To expedite a response, please provide Reference code DM 060613_m3c_Katie**

I’m sorry you have experienced issues with your GE Capital Retail Bank account. We would like to try to resolve your concerns. Please email me at gecapitalcares@ge.com with your name and phone number. A member of our consumer advocacy team will call you to assist.

For your security, please do not include your account number in your email.

Regards,
Nicole
GE Capital
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Won't Accept Money!
Posted by on
Rating: 1/51
EVERYWHERE, UTAH -- Hey I am currently trying to pay my settlement off with GE money I owe $431.00 left on my account but they refuse to accept my Debit card while my account is current! they demand a money order or a routing and check # all I want to do is pay the debt off and they will not accept my payment method that is most convenient to me. they have accepted my card while behind on payments before but now refuse to take it now that I'm caught up. personaly I hate having a book of blank checks around its barbaric and an outdated way to pay anything these days why the hell would a company as large as GE deny the use of such a convenient way to make a payment, they won;t even accept them in their online paycenter
     
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trmn8r on 2012-06-09:
They may not accept debit cards because of a fee associated with processing the transaction.

If they accepted it during a time when you were behind on payments, that could be because they felt getting 98% was better than getting 0%. I'm not surprised that they don't accept debit cards. Cashing a check costs them a lot less.
copper_works_ on 2012-06-09:
I might "barbaric and an outdated" way to pay, but it creates a paper trail of receipts. I still pay my bills that way. The company can't say they weren't paid when they have to endorse and deposit the check.
KevinTX on 2012-06-11:
"They may not accept debit cards because of a fee associated with processing the transaction." This is spot on.

I had horrible luck with GE Money trying to pay off one of my cards too... seems they have a slight problem with letting go :) I had to get a certified letter and take multiple phone calls to convince them I sent THEM the CHECK. Mess.
Jose on 2012-09-10:
Trying to pay without having to register.. Why are you forcing me to register when I already paid through the internet and did not have to register. All I want to do is pay, not take money from you.....
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Company agrees to 10 day stop payment 2 days later still takes payment
Posted by on
Hello :

My name is Jeff Gibson, I am A member of the Canadian armed forces and I like many Canadians am hear to register a complaint against GE Money. I purchased A motorcycle 3 Years ago for $11500, I called GE Money When I was @ the Dealership last week to find out what the balance owing on my loan was because I was interested in getting a new bike. Myself and the sales representative were told $1070.98 I asked If I could have a stop payment put on the old loan because that my trade in would more than cover the balance owing. The sale was finalised on Friday the 6th of May, the stop Payment was put in place on the 3rd of May and GE MONEY decided that the Payment would come out of my account on the 4th of may, even though there was a stop payment put on the account. I would advise all Canadians that this company is NOT TRUSTWORTHY they agree to one coarse of action and then go back on it without informing you. I will Ensure that if any member of my unit asks me about financing through GE Money I WILL Tell them About this despicable Incident and to look elsewhere for Financing .
     
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trmn8r on 2011-05-10:
If this was a recurring payment, that may explain the problem.

These transactions are queued up ahead of time, and send to a third party for processing, I believe. So a couple of days may not be sufficient notice to stop a payment from going through.

Have you called them and asked nicely for an explanation? You can assume the worst, but it may be there is a reasonable explanation beyond capitalism.
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Most unscrupulous international corporation known to me
Posted by on
I opened this account to handle the costs of my stepson's dental work. The card was issued and we made diligent payments to the account. During one payment, I attached two separate checks, one for the normal monthly payment and a second for nearly $500.00 (surplus money). The second amount was never applied to my account, but the first was. I noticed this immediately in the subsequent monthly statement. I called to track the money and they stated that I should never submit two payment checks in one envelope; their 'slitter/extractor' machine only pulls two pieces of paper from their envelopes. Hence, they report the second check was most likely discarded. Later (three months later) I received a scan (at my request) showing they had cashed that nearly-$500 check, but still had not applied it toward my payment. STRIKE ONE. I continued to make diligent payments on the account. After about 18 months of making payments, the interest rate went from 9% to 30%. STRIKE TWO. Within that same statement, they had tacked on a $2,100 retroactive interest surcharge, which took the card beyond its credit limit. STRIKE THREE! Would you continue doing business with such an unscrupulous outfit?
     
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saj80 on 2010-02-07:
It sounds like this was an interest-free card for 18 months; if not paid off after 18 months, interest would then be calculated from the date of account opening. I'm not sure you were ever charged 9%; that may have only been the disclosure rate on the statement. As for the $500, have you submitted copies of the check (front and back) to GE? If so, then they need to credit your account immediately. If not, you may need to escalate this to their regulator.
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GE Money Bank is abusing the public
Posted by on
EL PASO, TEXAS -- GE Money Bank took over Dillards Credit Cards service and immediately began to abuse Dillards long term customers including me, a customer for 40 years. They immediately lowered my credit from $3000 to $300 and although I never missed or made a late payment, they posted my 6/09 online payment LATE and hit me with a $39/service fee on a $297 balance. I disputed this as I had a record from my bank of timely payment and they turned around and refused my next two months (July and August 09) on line payments. They then closed my account, turned me over to the credit bureau for late fees and non payment of my account and commenced with aggressive collectors who refuse to discuss the fact that GE Money Bank initiated all this and has trashed my credit for an account that I have tried repeatedly to pay. The internet is full of similar stories on GE Money Bank - they are abusing consumers and they are conducting business in an unprofessional manner.
     
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Anonymous on 2009-08-31:
Not just GE Money Bank, all banks are doing that to their customers.
laklisa on 2009-09-01:
Did you try going to the store and making the payment? How about over the phone? I am sorry you were reported to the cb agencies, but there are other options to pay besides online. I don't care for GE money bank myself (they also handle Wal-Mart and Belk credit cards). Its your responsibility as well, so don't blame GE...
Also just a quick note-You should pay before or on the day of the due date. They will charge you a late fee if you are one day late!
DM01 on 2010-02-12:
GE didn't just take Dillard's credit card business over. In fact, I worked for GE in the financial services division years ago. The credit card receivables were purchased in 2004. So if you didn't have any problems for 5 years until this happened, you must have not had any problems with GE Money. As someone mentioned, all cards are being cut. Chase, Bank of America, Citi, and GE Money are all cutting limits down. They are not doing this because of your credit or payment history. They cut all lines to limit their exposure. All banks must have a portion of all outstanding credit limits in reserve in order to cover for losses. So...If everyone has a low limit, they don't need to have as much in reserves to cover that exposure for potential losses.
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GE Money Bank needs to be more flexible
Posted by on
I ended up getting a Care Credit card through GE Money Bank because of health problems our dog was having. At first, they were very nice. Then, although they knew when I was paid each month, they started saying I was late all the time (it was 1 to 2 days at most) and they would not change my due date. Finally, I got the due date changed, but they had added all kinds of huge late fees to the account.
After that initial period, they started adding all kinds of interest charges to the balance, and they also cut me off from additional credit, but they keep charging these fees to the card. I am very upset with how they handled this whole situation and wish I could find someone else to take this debt until it is paid off.
     
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goduke on 2010-07-06:
From the stories I've heard about this GE Money Bank card, it seems that they are counting on the fact that they are going to be able to rack up huge fees, etc. Hopefully you can ditch them soon. Best of luck on this one!
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Don't Be Fooled By The Advertisement
Posted by on
ORLANDO, FLORIDA -- I became ill and had to retire on medical leave, had an account with GE money bank. Called customer service several times about a promotional sale they had at Carvin Music Supply. Had not missed a payment always sent more than payment amount, even doubled up a couple of times. At the end of the year GE added interest back on balance and that was not in the material I received. I called and asked if I could get a lower interest rate since I was a good customer. They told me on several occasions it couldn't be done.

This just goes to confirm what I already knew credit card companies just want to keep you in debt even the good paying customers.

This is such a shame!!!!!!!!!!!!
     
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Removed Credit Limit Because I Made A Payment
Posted by on
EL PASO, TEXAS -- I am outraged and disgusted with GE Money Bank. My husband and I have had a Wal-Mart credit for 9 years. During that time we never went over our limit, and NEVER made a late payment. Now with every payment we make they are REMOVING our credit balance. I'm furious as we should have splendid credit with this company, they have slowly removed all of our credit balance which should exceed $1k.

What a disgusting way to treat your consumers. Way to go GE Money Bank to help companies lose customers.

Their reasoning for docking our credit limit is based on our dealings with another company, at the risk of sounding like a child that's NOT fair, considering "other companies" pertain to late medical bills, face it, my family is NOT the only one to be struggling with past due medical bills. However, it's not GE Money Bank's place OR purpose to base their dealings with us on THIS!

To say I'm pissed is an understatement.
     
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skelly39 on 2009-11-09:
Hate to tell you, but as of now, creditors have the right to use anything on your credit report to reduce your available limit, raise your rates, or close your account. It may not be fair, but it's legal. Keep paying it down and close it. I'm aiming for a debt-free life (ha!). Wouldn't it be nice not to have these problems?
RoseRedNeckWitch on 2009-11-09:
I can safely say they can put this card where the sun don't shine. We have been role model customers with this card. It's 1 of 2 that we have. I can also safely say it's $280, a reasonable amount that they can also shove in their "hat".

Anonymous on 2009-11-09:
Nice DB, now if we can just get you to stay over here and TRY to help people, the world will be a better place....This site will at least.
DebtorBasher on 2009-11-09:
Actually, I am planning on spending more time on the reviews....I can't get 'star power' on the community boards!
karleebarlee on 2009-11-09:
it may not be fair, but a company will check your credit score to decide whether or not to give you credit. your credit score is based on your dealings with other companies. that's how it works.
RoseRedNeckWitch on 2009-11-09:
I still say it's a crock.
JR in Orlando on 2009-11-09:
If your neighbor came to you for a loan and you knew he was behind on his payments to creditors, losing his house to foreclosure, and having difficulty paying his bills, would you loan him any substantial amount of money? Even if, on other occasions before, he had paid back money you loaned him. Wouldn't you be afraid that no matter how much he wanted to pay you back, that if you loaned him money he might not financial be able to do so?

That's the position of credit card companies when people who have their cards run into difficulty paying their bills, any bills. Regardless of your past history, it raises the fear you will not be able to pay off the card in the future, no matter how much you want to.
Anonymous on 2009-11-09:
This practice has a specific name that I can't recall but it is perfectly legal.
Too bad that the 5 starred member that is supposed to be a credit guru can't leave the forum side to chime in on this thread. Go figure.
DebtorBasher on 2009-11-09:
Did someone call for me?
laklisa on 2009-11-09:
Ah, I'm not a fan Of GE Money bank either. They also handle Belk credit cards and they lowered my limit awhile back too. I don't care about that-it helped me! Other banks are doing the same thing as well.
Anonymous on 2009-11-09:
DB we are waiting............
DebtorBasher on 2009-11-09:
I hate to say it, but yes they can do this. Your current credit card companies can pull your credit report for review and make adjustments based on what they find on your report. I found this out after one of my credit card companies raised my rates and stated after they reviewed my credit report, I was considered "High Risk". Why? Not because I had a perfect payment history with them and all of my other creditors (Never late, never missed any payments, paid as agreed)...but because I have opened other credit cards SINCE they approved my credit with them. Yet, I was still paying everything on time. Needless to say, I transferred my balance from that card over to another card and closed them out for doing that to me.

How was that ZZ? I'm waiting for my 'helpful advice' notification... *Arms crossed, foot tapping*
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A Credit Card Company Lowers Their Limit For What Reason?
Posted by on
I've been a loyal paying customer of PayPal/GE Money Bank credit card going on 6 years. Not once have I ever asked for a credit increase. My limit was $700. It's always been my emergency credit card (OK, so I really like EBAY) and have rarely carried anything close to the limit. I just got a letter telling me that they had lowered my limit to $280. It was based on AVG CREDIT UTILIZATION ON REVOLVING/OPEN ENDED TRADES. LMAO - What does that mean? I charge something and then pay it? I called and of course the person in India couldn't tell me what that means but she did say that perhaps in the next year my credit limit will be raised. If anyone here can tell me what that means, I'd appreciate it.

I'm thinking it's just another way of saving them money and irritating customers.
     
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Anonymous on 2009-04-16:
Read this as it might help explain what they did.
http://www.thetaoofmakingmoney.com/2007/03/13/284.html
tater12 on 2009-07-12:
I think it based on ur credit score it don't matter wht ur history with thm it ur credit
RoseRedNeckWitch on 2009-11-09:
They have done the same thing to us. I'm pissed over it. Ours is because of late / past due medical. They are basing our credit limit on THAT rather than on their actual dealings with us. GE Money Bank = A Group Of AssHats!
http://networkingwitches.wordpress.com/2009/11/09/ge-money-bank-youre-an-asshat/

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