I had a credit card from JC Penney that was handled by GE Money Bank. I received a notice today stating they were cancelling my account based on a recent credit report they pulled.
First of all I do not, nor have a had, a balance with them for several months.
Second, I have been out of work for almost a year and a half.
JC Penny and GE Money Bank did not take any of that into consideration. They simply do not care about their customers.
I attempted to contact both JC Penney and GE Money Bank - neither of which would have a representative from their respective organization contact me. The interesting thing here is that, on my call with JC Penney, they tried to completely divorce themselves from the situation. How can they? They are the ones that contracted out to GE Money Bank to handle their credit card services!
In my current financial situation my other credit cards have been more than willing to work with me during this economic down turn.
Lets face it, JC Penney sells crap! Their merchandise is terrible and it doesn't last. The only reason I even opened up the account was because someone requested merchandise from them at Christmas time. Opening up the account allowed me to save an additional %10 on my entire purchase.
I would not be as upset about this if it wasn't for the fact that the closing of this account is going to negatively impact my credit report even further. Again, neither JC Penney or GE Money Bank care about that.
I would strongly encourage people NOT to shop at JC Penney.