5
Helpful
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G E Money Bank (GEMB) Complaint - GEMB Is Ruining My Credit

Review by bluejay1045 on 2009-05-04
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.
Comments:4 Replies - Latest reply on 2010-09-11
Posted by Mario The Great on 2009-05-05:
They did the same thing to me. I complained and they just blew it off. I still use it for emergencies, but I can't imagine ever charging anything more on it.
Posted by Talk360 on 2010-03-14:
This is so true GE Money Bank is very bad, they reported things on at least 2 of my credit reports different dates & amounts for the same months indicated on both reports. Last time i spoke to them about any of my accounts i had got tranfered to 6 times different departments or agents that didnt want to help me, before i got hung up on or got returned to the menu list again. One agent even impersenated a manager, then i got a manager & he told me i could not record our conversation we were about to have. Plus the finance charge for last month was $108.00 alone.
Posted by Talk360 on 2010-03-14:
This is so true GE Money Bank is very bad, they reported things on at least 2 of my credit reports different dates & amounts for the same months indicated on both reports. Last time i spoke to them about any of my accounts i had got transferred to 6 times different departments or agents that didn't want to help me, before i got hung up on or got returned to the menu list again. One agent even impersonated a manager, then i got a manager & he told me i could not record our conversation we were about to have. Plus the finance charge for last month was $108.00 alone.
Posted by gemoneystinks! on 2010-09-11:
Yes. GE Money is not a reputable company to do business with. Read about any company on the internet or check out the BBB[although they too are in it for the $$$$....I know. I used to work for them.

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