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GE Money Complaint - Most unscrupulous international corporation known to me - Credit Card services
Credit Card services - Complaint
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 it's credit limit. STRIKE THREE! Would you continue doing business with such an unscrupulous outfit?
Comments:
Posted by 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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