GE Money Bank / Non-posting of payments
I took out a HELOC loan and mailed checks to payoff three accounts managed by GE Money Bank on the same day (3/19/09). I also mailed 20 checks for accounts with other credit cards on that same day. One GE Money account was a 0% interest account from Rooms to Go. A second GE Money account was from Hunter Douglas, but this account has an interest rate of 21.99%. The third GE Money account was for Sam's Club, with a rate of 10.65%. The first two accounts have the same payment address (P O Box 960061; Orlando, FL [protected]). The Sam's Club Payment was mailed to P.O. Box 530942; Atlanta, GA [protected].
The checks to the other 20 merchants have been received and posted to the associated accounts. The check for the 0% GE Money Bank interest account was also received and posted. The two higher rate GE Money Bank cards claim that the payments have not yet been received (although one payment was sent to the same address as the 0% account) and that it can take more than 2 weeks for payments to post. I find this to be suspicious at best, and bordering on poor business practices/fraud. It unbelievable that out of 23 checks that were mailed on the same date, the only two that haven't posted are interest charging accounts at one financial institution. Based on other complaints I have read, I believe GE Money Bank is cheating its customers by delaying posting of payments on interest accounts. In addition, there is no contact number on GE Money Bank's billing statements or website, making it nearly impossible for customers to check on payments or complain.
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