G E Money Bank (GEMB) Complaint - GEMB Is Ruining My Credit
In the last 5 months GEMB has, in this order, raised my credit limit, lowered it 2 weeks later, then lowered it again last month. Each time the credit limit was lowered to what I owed and I was not even given a 30 day notice of change. Each time they claim it is because of my credit report but nothing has changed on my reports, except for the negative actions taken by GEMB. I have been working hard to pay off my debts. I always pay early, pay more than minimum, and have hardly used the Walmart card in the last few months. When I called them to complain, they hung up on me. Watch out! Bad company to deal with.
I assume that the card will be cancelled as soon as I pay off the balance. I would suggest that, if you are offered a store or bank card, do not apply if it has any ties to GEMB. They will kill your credit fast.