GE Money Bank / Inflated interest rates!
Lowe's recently transferred my account to a GE Money Bank Platinum Card. While I appreciated the credit limit increase from $1500 to $7500, GE is now charging 19.24% for purchases! Not only did Lowe's do away with the 12-months no interest/no payments option, but GE is unwilling to negotiate the APR!
I have no intention of carrying a balance with GE Money Bank and have already begun the process to transfer the balance to another creditor at a 6.99% APR.
GE Money Bank handled the Paypal Visa card which I've also closed due to the inflated interest rates. If more people revolt against such predatory lending, perhaps GE will realize that the value of all consumers.
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