GE Money Bank review: Cheating customers! 571

General Electric CEO Jeff Immelt defended the company's payment of income taxes after protesters interrupted his speech here at the SAE World Congress.

"Tax rate was 29 percent last year, " Immelt told a couple protesters at Cobo Center as they chanted "pay your fair share" a few feet from where he was speaking.

About 20 protesters scuffled with Detroit Police before they were escorted out of the building. The protestors blew whistles and attempted to enter the SAE exhibition hall, but were forcibly blocked from doing so.

GE spokesman Gary Sheffer said the company paid a 25 percent income tax rate in the United States in 2011 — and a 29 percent rate globally.

In total, GE paid $2.9 billion globally in income tax in 2011, Sheffer said.

GE said it paid a 7 percent U.S. tax rate in 2010 because it had lost $32 billion in its financial services unit and because of other tax breaks, Sheffer said. "We paid income taxes and we paid another $1 billion in taxes across the U.S. — state, local federal."

"The folks that are protesting here are unfortunately protesting based on misinformation. We did pay taxes. Our rate was lower, " Sheffer said.

Protesters said they had tried to present Immelt with a tax bill for $26.5 billion for what they asserted GE owed in back federal income taxes under the 35 percent statutory tax rate.

"Mr. Immelt, when are you going to pay the $26 billion in taxes, " asked Shyquetta McElroy, a mother of two who traveled from Milwaukee. "I pay my taxes year after year — why doesn't GE?"

Few, if any, U.S. companies pay the statutory tax rate because of various tax breaks and incentives in the tax code.

The protesters asserted that GE has become "the poster child of American corporate tax-dodging" and argued it has been paying only a 2.3 percent effective rate over the last 10 years.

Immelt joked that the protesters had given him some "good practice" for GE's annual meeting in Detroit on Thursday. The United Auto Workers union has said it is considering protesting at the meeting.

From The Detroit News: http://www.detroitnews.com/article/20120424/BIZ/204240397#ixzz1uE4kN5R3

>>>>>>>>>>>>>>>>>>>>.So do we blog all day ...Or are we gonna be heard ... Or HELPPPPPPPPPPPPPPPPPP

e dealing with GE Money bank for years. I paid my promotion balance off and weeks later they told me I own 501.00 in debt security fees and late fee's We talked on the phone for 2 hours back and forth. I told them to prove to me that I signed up for debt security. Be cause that is something I wall would never do. Even if debt security was a1.00 a month I still would not enroll. And why would I ever agree to pay debt security 38.00 a month when my monthly payment averaged. 40.00 a month. COME ON NOW SERIOUSLY. It doesn't take a rocket scientist. To know its not worth it. Now I wrote them and they told me a team specialist will call me later that week still no phone call. And when I call the brush me off.
>>>>>>>>>>>>>>>>>>>. WE HAVE NO VOICE IN THIS CREDIT CARD SCHEME ' WE WILL ALWAYS BE RIP OFF>>>>>>>>SOMEONE HELP...

I'm sorry you're experiencing problems with your account. We'd like to help. Please email me at gecapitalcares@ge.com with the following information:

- The full name associated with the account
- Mailing address associated with the account
- Your contact phone number
- Reference code DM 120511_cbMihede

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

Regards,
Nicole
GE Capital

GE Money Bank is a nightmare. We are trying to work out an arrangement for my boyfriends daughter on a dental bill. She has been paying for the past 3+ years on having 2 teeth worked on and still owes what the original amount was...how is this. We finally reached someone tonight and again, stories change with each phone call. They only have the last year in computer, can't tell you much more, can't explain why the fees keep piling up when the payment agreement is being honored. We asked about making a settlement payment agreement and they said they don't do settlements. They have made a HUGE profit on this and won't answer questions. I agree with everyone here, that a class action law suit needs to be filed. They are worse than a loan shark. We have a Penney's charge card and have had no issues, however since we now discover they are GEMB we will make sure that account is closed out and if J. C. Penney's wants to ask why, because of who they do their credit with.

GE Money Bank is DIRTY! They have a per deim fee, that they dont tell you about. If you are late on your payment, even if its 1 day late, they charge a per deim fee which they do not tell you about. They wait until your note is up and they send you a bill usually of a large amount, like 600-1200 dollars, and threaten to repossess your vehicle if you dont pay it by the next month.
My husband and I borrowed 10, 000 dollars for a motorcycle, made every payment, some a few days late, but never months late, and at the end of our 5 year note they charge us 1200$ for the per deim fee. But on our bill where it says fees there is a 0.
They are sooo dirty, NEVER get a loan through them, and if you do, please know they charge a per deim fee for each day late.
THey have NO grace period what so ever, and dont tell you about this fee, and its not noted on your bill!
Please think twice if you want to get a loan through them.

On March 24th 2011, my mother made a purchase at Old Navy in the amount of $19.61 and used her Old Navy credit card. However, she didn’t get any bills from them until June 2011. She even forgot about the purchase she made. I believe it is not her responsibility to make sure that they send her a statement. The bill that she got in June was in the amount of $76.30. My mother was shocked and had me send an email to Old Navy customer service. I was referred to contact GE Money bank at [protected] for assistance. I tried to call the number I was given numerous times, waited on hold for fifteen/twenty minutes but could not hold any longer due to the lack of time. Therefore, on July 5, 2011 I made a payment online in the minimum amount of $36.50. Then, my mother got another statement in July. The amount that she owed went up to $113.10. I called them again and talked to them three times, but I was told that they never received any payments. However, on the statement it says that they received a payment of $36.50. I asked them to waive the late fees because there are, in fact, no late fees, and my mother has already paid more than her original purchase was.
Today, my mother received a letter from a collection agency concerning the debt owed. This is the first time she is accused in not paying her bills on time. My mother mailed a check payment to this nonsense company in the amount of $113.10 today, 07/22/2011. I want them to refund her late fees and let my mother get them out of her life. GE Money bank is a nightmare for both, me and my mother. Beware of these monsters. I'd also be interested in joining a class action law suit.

I am with GE and sorry to read you had a problem with your account. Please send your contact phone number to creditcardhelp@ge.com so I can have a specialist reach out to you directly to see if we may assist.
Thanks,
GE Retail Cards Communications

I am with GE and our business segment runs the Sam's Club card program. I'd like to have one of our specialists look into this for you and answer any questions you may have. Please send your contact phone number to creditcardhelp@ge.com. Do not include your account number in the email or in any postings.
Thanks,
RCF Communications
GE Retail Finance

I took my kitten to the vet (which later unfortunately died anyways). The bill was over one hundred dollars and I only had eighty dollars on me so I asked about the "credit" I could apply for. They set me up with Credit Care and I was going to pay twenty five dollars a month. However, I jumped online and was shocked to see so many horrible reviews about Ge Money Bank. That scared me. I paid my balance in full, closed the account and changed my address on their website so that they couldn't find me. I am also going to close out my account with Fifth Third just so they can't make any unauthorized transactions which I have heard that they do. I am grateful for reading all the complaints because I got out why I could. Thanks and sorry to anybody else who might be stuck. It's hell, aint it? Always having that on your mind?

Acctually ScottyPressley. What I said was 100 percent true, and valid. Maybe you should take responsibility for your actions instead of trying to make excuses for yourself. If you would pay your bill on time then there would be no issue. You can not expect the Finance Company to hold your hand while you use the restroom. They did there part by loaning you the money, now do your part by not only paying it back on time, but by abiding by the terms and conditions you signed for.

Hello everyone who has been screwed by GEMB im planning on a class action law suit against them if anyone is interested please contact me VIA email @ bacigalupi1@gmail.com thanks

Sorry to read that you were a victim of identity theft and having an issue. Please send a contact phone number to creditcardhelp@ge.com so that we can have a specialist reach out to you directly to see if we can offer any assistance.
Thanks,
RCF Communications
GE - Retail Cards

I HAVE ALL OF THE PAPER WORK. tHAT IS NOT THE ISSUE AND ALL OF THIS WAS SENT TO THE 3 CREDIT BUREAUS IN 2007 AND AGAIN IN 2009. THE PROBLEM NOW IS THIS HAS BEEN SOLD AGAIN AND GEMONEYBANK REPORTED IT BUT WHEN YOU CALL THERE YOU ARE TOLD IT IS NOT THERE ACCOUNT. I SPOKE WITH THE CREDIT BUREAUS AND THEY SAID IT HAS TO COME FROM THE COMPANY THAT FILED THE COMPLAINT BUT EVERY PHONE NUMBER THE CREDIT BUREAUS GIVE ME I GET THE SAME RESPONSE "WE HAVE NO RECORD OF THAT ACCOUNT

You need the documents that state your debt was fraudulent (which you should have kept) you need to then get the contact info of the three credit bureaus and have them mail you a credit bureau dispute form from each company. Equifax, Transunion and Experian and you need to have Chevron file a credit bureau dispute on your behalf too. The issue is you have waited a long time, so finding paperwork is going to be a hassle so make sure you keep a record of every call and photocopy all documents you have sent.

JetRetry2009, you said,

"On the top of each statement in big bold letters, we list the amount due, the date to pay it off to avoid interest and the amount of interest that will be charged if not payed off by that date." On the top of my statement it says "Promotional Interest Rate UNTIL PAID OFF." You cannot tell me that 22.9% interest is a promotional interest rate. Do not give me that crap. I know GE Money does not give a crap about me, so your sticking up for a multi-million dollar corporation makes you look like a glory [censored] holed up in your Ivory tower.

Never do business with GE Money Bank. They are a multi-million dollar federation that is only looking out for #1 while treating you like #2. JetRetry2009 works for GE Money Bank and receives compensation and benefits from her employer. She has to defend the company and the many men above her in the company that she lavishly services on a regular basis. I don't know if it is so much cheating as much as it is GE Money Bank failing to properly train their managers and customer service representatives. When you have a complaint with GE Money Bank, you file a report with the Office of Thrift Supervision. Not one of GE Money's employees will know that or tell you that. If you have money stolen from your account (not my case), then you should say something to the FDIC which three of the terribly English-speaking customer service reps knew anything about, nor did their manager, Dennis, who sat in his comfy chair in his corner office in El Paso, Texas telling stories about how all banks are charging 22.9% interest and that his employer (JetRetry2009's employer) is not alone. Dennis should speak to Bank of America. They only charge me 8%--an amount someone who has never been behind on a payment and has flawless credit would be extended. . . . . . . .unless you have the misfortune of doing business with GE Money Bank.

I am sure JetRetry2009 enjoys her employer. They are always right. They can never make a mistake. They are gods. I am sure she is also enjoying many company perks and many company men being the female on the floor amid a bunch of overzealous Jeff Immelt wannabes. I am sure her interest rate is no where near 22.9% even if she had to file a bankruptcy and a repossession. It is easy to make payments when you have the company on your side. Again, GE Money Bank only cares about GE Money Bank. They care about their own. They care about their hardworking managers like JetRetry2009 who work feverishly to sucker poor, unsuspecting souls into accepting terms she knows will eventually lead that poor person slowly into paralyzing debt, foreclosure, repossession, or bankruptcy. Really, GE Money Bank has much more to achieve from the failure of their consumers than they do from their success. They want you to fail. They want their customers to default.

By the time I have paid off GE Money Bank, I will have paid over $9, 000 on a $4200 loan--the consequence of not getting the whole story regarding a contract even from their customer service reps who know as little about your contracts than you do! That's scary! GE Money pays millions of dollars for high-priced lawyers, so do not expect to beat them, but it does me worthwhile to say that they (Ge Money) are hoping you will join them in a game of "money borrowing" in which they want to win, and they want you, the consumer, to lose.

JetRetry2009 will spin tales of GE Money Bank glory many times over because she works for them. What she will not tell you, is that her loans are not really loans, and she will never see the outrageous interest rates that average Joes who are not employed by GE Money Bank are always dealt. In fact, it is just another company perk for her to get a special interest rate by doing business with her boss, and when she is not grabbing coffee for her superiors or making her rounds giving head, she is busy working the system to the advantage of GE Money Bank to help her move up the ladder while screwing you over.

We all have a hard lesson to learn. GE Money Bank is a selfish, greedy, and evil company. Yes, they have the pleasure of raping us now, but they will not be able to continuing raping ME forever. Eventually, I will pay them off and rather than send that last payment by automatic check, I will send a check in the mail. Attached will be a note which simply reads "Go to Hell, Ge Money Bank" which will likely be read by no one more than an Orlando, FL-based payment center employee. However, that message will still stay in my heart and serve as a reminder to me of the disdain I will always carry for an incompetent and dishonest and unqualified company for my business. On that day GE Money will no longer have my business, nor will they ever be worthy to obtain it again.

I'm sorry you're experiencing problems with your CareCredit account. We'd like to help. Please email me at gemoneycares@ge.com with the following information:

- The full name associated with the account
- Mailing address associated with the account
- Your contact phone number
- Reference code DM 032911_cc#

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

Regards,
Nicole
GE Money

"I keep telling her that the Martinez Dental didn't finish my teeth until the end of March" Loan 101.. when you take out a loan, it goes off of the date you are funded that amount not the date you finish whatever you were using the money for.. On the top of each statement in big bold letters, we list the amount due, the date to pay it off to avoid interest and the amount of interest that will be charged if not payed off by that date. We loaned you money under specific terms, its not too much to ask to have you maintain your part of the agreement.

The phone number to voice your displeasure with GE Money Bank's ability to screw over a family's finances even though GE was a main recipient of 'Bail Out" funds from your taxes and payed ZERO corporate taxes for 2010, is [protected].

I'm sorry you're experiencing problems with your GE Money account. We'd like to help. Please email me at gemoneycares@ge.com with the following information:

- The full name associated with the account
- Mailing address associated with the account
- Your contact phone number
- Reference code DM 031811

For your security, please do not include your account number in your email.
Regards,
Nicole
GE Money

Bought my GE Profile King Capacity washer 3+ years ago. Three weeks ago starting making this ungodly noise when washing and rinsing. Also dumping water out bottom. Called for repairs as I have a home maintenance program. They sent out a Sears repairman. They replaced the tub, shaft etc at a cost of $703 to the home maintenance company, ona $487 washing machine! AMAZING! Now 3 weeks later it is dong it again. This time they want $500 to fix it. For the love of Pete I could have had a new washer, dryer and a microwave! I am at a loss and want a new NOT GE washer...

Paul,

I'm sorry you're experiencing problems with your GE Money account. We'd like to help. Please email me at gemoneycares@ge.com with the following information:

- The full name associated with the account
- Mailing address associated with the account
- Your contact phone number
- Reference code DM 030811_ph

For your security, please do not include your account number in your email.
Regards,
Nicole
GE Money

is there any legal help

This company are really misleading and I can't believe that with a $504 balance they will add an interest charge of 349.36. I tried to talked to the account manager and told her I want to pay it off just take off the interest charge. She was so persistent telling me the promotional was expired. I keep telling her that the Martinez Dental didn't finish my teeth until the end of March meaning my promotional date should expire at the end of March 2011. She keeps telling me there's nothing she can do I have to pay the interest charge. Here I am trying to be nice to them paying them off explaining to them I got a misunderstanding with my dentist, what I know they will start the charge after they finish my teeth so obviously the GE credit card start the charge the first time I see my dentist and quote how much I need to pay. This is not right. I would like to join with you people to sue this company. I tried to pay my bills on time and I never thought there's people like them who can't understand your point. All they insist is that, they have right to charge whatever they want to charge. I will file my complain to the BBB so that this company will learn their lesson.
by Arlene Jones

Consumers need to first find out what type of bank they are chartered as, i.e., State, National, Federal Savings, etc. This will determine who their federal regulator is. Then letters can be addressed to that regulator, although most are in cohoots with their bank subjects (yes, overpaid bureaucrats serving the interests of the very subjects they are charged with regulating). But fraud is fraud and we may get somewhere with our State Attorney Generals or the new federal bureau of consumer protection.

Send your complaints to the Better Business Bureau http://www.bbb.org/dayton/business-reviews/credit-cards-and-plans/ge-money-bank-in-kettering-oh-5001136

GE money runs CARE CREDIT also and they charge so many finance charges in general that no matter how much and how long you pay you can never pay them off, you'll be paying them forever, unless you just pay the balance in full. The finance and interest charges are out of this world! Don't use CARE CREDIT it is a huge rip off. So far I have paid about 4, 000 on a 3, 000 loan and they say I still owe 3, 035!

Jen, I learned the hard way too. It's best to learn who is financing all these cards out there. Avoid GE Money like the plague.

I'm in a similar situation. I had about $500 left and got charged over $600 in interest. Is there any way around this?

You should have taken the phone represenative who offered the card security to you, up on their offer.
With card security if the primary or joint card holder experience: unemployment, leave of absence, disability, loss of life, nursing home care, terminal illness, or a trip to the hospital (2 days or more) then your minimum monthly payment or full account balance UP TO $10, 000 would be removed. The monthly fee is $1.66 per $100 of the ENDING MONTHLY balance. Which means, any time you dont have a balance you arent charged for the program.
So many ppl think that their insurance will help, or that they have somehting with their bank that will help. NOT THE CASE. This program is beyond easy to qualify for. YOU WERE OFFERED IT AT THE TIME OF CARD ACTIVATION. If you decided to say no, and cost the operator his/her job, (yes, they are fired when you say no. ) (even though YOU WERE OFFERED TO TRY IT FOR 90 DAYS AND SEE IF YOU LIKE IT WITH A 100% FULL REFUND IF YOU CHANGE YER MIND) then you owe whatever. Dont expect GE to suddenly be all like poor you. You had yer chance. YOU declined. Tough LUCK

GE Money Bank are crooks. They apply most of my payment to interest and very little to the principle. Everyone needs to complain to the Federal Trade Commission! The way this company operates should be illegal, if it is'nt already. But their way of doing business, ( ripping off the consumer), should looked into by the authorities. I will gladly join a class action lawsuit, also!

while we means custamers entering to agrements the bank represents showing heaven but practically it is a hot oven like tufan, sunami, and it is not bank it is a hot well i am requesting to middle people dont try to even tuch the bank.it is my experance.

I purchased at least 2 out of 3 computer related items that were financed through G.E. Since the interest rates were mounting at ridiculous rates, plus tons of late charges, I called all three creditors and demanded they stop their usurious practices or I would discontinue all payments as I am on a very low disability income. I also communicate the same message to Chase Credit Card services. Now I owe 2 to 3 times the original balances, which I contest on moral grounds (usury, as any amount of interest is consider usury. Particularly when charged to a brother, whether a family member or a church member. I personally know people who do that.) In any event I stopped their collection attempts by changing my phone number and simply ignoring the duns until I believe they have gone away completely now. (this was about 2 years ago.) Go eat a bBabe Ruth guys!

I have the same money problem with GE money. I opened a credit card to have some dental work done. The total amount was about 3000.00 I was told that if I paid it off in 12 months that there would be o interest applied. I did not receive a bill in the mail for 2 months. I finally was able to get in touch with them and they tolod me they had the wrong address. I told them that was their fault and asked if the late payments could be removed. My payment was suppose to be 190.00 a month and by the end of the 2 months they told me I was behind 860.00 The math just didnt add up. However since my husband had perfect credit I decided to make a deal. They told me they would credit my account 300.00 if I would agree to have payments set up for 3 months on automatic withdrawal. I did this 215.00 for 3 months. But everymoth they were still calling me and even though the money was coming out of my account late fees and interest were still piling on. 2 of my credit cards have been lowered due to them reporting my account deliquint . I called today and they told me that it was probably a new hires mistake and they were sorry but if I could pay 860.00 they would call it current.SERIOUSLY! I could not get it trhough their head that the payment s were being made. They told me there was nothing they could do about the mistake and I would have to pay the past due amounts! Crazy. I tried finding a number or email to contact the president of the company but it doesnt seem to exist. I think class action lawsuit is in store...any takers?

EEEEHHHH WRONG AGAIN

I'd say I'm amazed to find so many sites and complaints about GEMB, but I'm not. When we opened the Care Credit account over dental issues, I admit that we were hardly perfect getting payments to them on time. Over the last year, however, we've moved to monthly payments being made automatically to our checking account that are always at LEAST the minimum payment requested by them. I've been conserned that no matter how much we pay the balance never seems to improve even when we do pay over the minimum.

What finally set me on edge was getting phone calls from them daily in excess of 3-5 calls a day. At first, I spoke to the rep, and they said that yes, they see we're making our payments in full and on time, but that wasn't good enough. They want us to make larger payments. I said it just wasn't possible. As it got closer to Christmas, I even added in the "hey, it's CHRISTMAS - you ARE getting paid, please stop asking for more." The calls have, if anything, increased in numbers. I cringe whenever my phone rings and when I finally get fed up and answer, it's the same garbage all over again.

I lost my job at a call center because of the company outsourcing to India, so I admit a small amount of dissatisfaction when dealing with non-American, non-English speaking call center reps. however, I am now disabled and on a fixed income and I have explained - both gently and forcefully that as long as I am making my monthly payments on time, they have no right to harass me like this. The response I get it usually rude.

I've had it. I've already advised all of my friends and family via facebook to throw away any credit applications by this bank. It seems almost futile to start the complaint letter marathon to these people. I'm not sure what I need to do to make them happy, and they're making me MISERABLE. After the first of the year, I think my plan will be to pay them off ASAP and pray they let me get them out of my life.

I too wish I had come here and read up on GE Money Bank. My story is that I used them in Nov. of 2009 to finance my furnace. My agreement stated that I had until Dec. 9 2010 to pay off the balance. Well, I was down to $3280 on Nov.22 2010 and arranged to transfer the balance to Chase Bank but now before the transfer went through the balance has gone to $4237.93! There is no explanation visible on the website for this $957 increase, but I assume that Chase notified them that the transfer was coming and they hit me with a ridiculous interest rate and fee before it was applied. Their actions are criminal in my opinion, and from what I have read here it is their common practice. So, beware do not finance anything through GE Money Bank. I never will again and intend to make complaints every way I can--attorney generals, BBB, finanace and trade commision--the works.

We started this account with a furniture purchase last year (promotional rate). They called us two weeks later saying we were late with payment and asking if we wanted to make a payment over the phone. We had received no bill, and had put down a deposit, so how it could be late we couldn't figure out. We made the payment and eventually they cancelled the late payment fee (but charged us a "phone payment" fee).
I wanted to pay it off right there, but my husband wanted to take advantage of the promo, so I put it on autopay. I just looked at this month's bill, and the promo balance was due to days ago between billing cycles. You can't pay online (only monthly autopayments)- so not only do they sneak them in between payments, they make it harder to pay. You can't get through the phone line and only one phone option gets you a person (pay by phone for an "phone payment fee"). They have no address online for contacting them, no branches that you can take a payment to. They've done what they can to trap you. I've mailed a check but I've also changed the autopay to full amount. Of course they have a disclaimer that if you make a change to autopay.. it may not take effect by the next billing cycle. They love not getting paid.

after reading all of your complaints I realizes I had been sucked into the same problem with shopping channel QVC (GEMB) and there is no way to talk to them, people to talk to do not exist.They front money to companies that can not carry their own loans or credit accounts.In the mean time in this poor economy they take advantage of trusting people.Beware of anything that sounds to good to be true or possible..