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GE Money Bank / FRAUD !!!!

1 United States Review updated:

GE MONEY BANK IS A JOKE!!!!! I WAS IN THE PROCESS OF MOVING AND DECIDED TO PURCHASE A NEW BEDROOM SET AND MATTRESS FROM SLEEPYS. I WAS OFFERED A ZERO INTEREST CARD FROM GE MONEY AND THOUGHT IT WAS A GREAT IDEA BECAUSE I COULD PAY OFF THE TOTAL AMOUNT IN ONE YEAR AND NOT HAVE TO PAY INTEREST ON THE PURCHASE. WHEN I MADE THE PURCHASE I GAVE MY NEW ADDRESS WHERE ALL OF THE ITEMS WERE DELIVERED. A FEW MONTHS AFTER THE PURCHASE I REALIZED I NEVER RECEIVED A BILL FROM GE MONEY, SO I CALLED AND I WAS TOLD THAT THE MONTHLY STATEMENT WAS MAILED OUT AND I WAS NOT PAYING SO THE INTEREST RATE WAS NOW 28.9%. AFTER FIGHTING WITH SOMEONE THAT BARELY SPOKE ENGLISH AND GETTING A MANAGER ON THE PHONE THEY AGREED THEY WOULD SEND ANOTHER BILL (WHICH IN FACT THEY NEVER DID) AND WOULD TAKE OFF THE INTEREST ONE LAST TIME AND GIVE ME ANOTHER CHANCE. LITTLE DID I KNOW THAT THE SAME THING WOULD HAPPEN AGAIN!! I DECIDED TO OPEN UP AN ACCOUNT ONLINE AND PAY MONTHLY. IN THE LAST YEAR I HAVE WASTED HOURS ON THE PHONE WITH THIS COMPANY AND HAVE RECEIVED 3 BILLS WHEN IN FACT I SHOULD HAVE RECEIVED 12 BY NOW. I PAID OFF THE TOTAL AMOUNT AND NEVER WANT TO DEAL WITH GE MONEY AGAIN. THEY ARE LIARS AND LOOK TO MAKE MONEY OFF PEOPLE THAT WILL TAKE RESPONSIBILITY FOR A MISTAKE ON THEIR BEHALF. BE CAREFUL!

Ra
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Comments

Ly
  15th of Oct, 2008
Agree Disagree 0 Votes

I am having these same issues with this company saying that they haven't received my payments. Also, in addition to wasting time on the phone with no resolution.. as soon as I get the opportunity to get this crappy card away I will.

Ds
  15th of Oct, 2008
Agree Disagree 0 Votes

I too used this bank for an "interest free" offer. They sent the invoice/statement to the wrong address. I ended up getting charged late fees which they took off after several calls disputing. I have sent the payment in full to avoid them at all costs!

Ro
  1st of Nov, 2009
Agree Disagree +1 Votes

I have had similar problems where GEMB has opened accounts I did not authorize and they are now charge offs after years of disputing. I requested proof, such as a signed credit contract and they denied me on that request. I am now contacting the Attorney Generals office for the state the credit app was submitted in and I am also looking into a class action law suit as well as pressing charges of Identitiy theft and credit fraud against their CEO. I would love to shut this company down. Please comment if you would be interested in joining a class action lawsuit.

Va
  20th of Jan, 2010
Agree Disagree +1 Votes

@rotorjockey

On 09.19.09 I purchased a wonderful mattress from Sleepy's and two weeks later, set up an automatic payment plan over the phone with a man who could hardly speak English.
After being hung up on 3 times, he collected my credit card information and assured me that the amount would be deducted monthly.
Now.
On 1.02.10 I received a statement that claimed that I owed them money by 1.04.10 and that I had never paid.
I'm a busy person and don't have time for this.
I attempted to contact them to set it up over and over again to no avail.
Today, 1.20.10, I received another bill stating that I had never paid and owe them money in late fees.
How am I, a hard working and well off individual, supposed to pay when I am given no opportunity to do so?
My assistant contacted them and she was met with an argumentative representative who only after 5 demands of her location, admitted she was in India.
Why is my money handler located in India I ask?
After demanding to speak to the representative's manager several times she was hung up on.
She called GEMB back and was on hold for 25 minutes only to be disconnected again.
I then, personally, contacted Sleepy's and was met with understanding, and spoke with a representative named Mary who was only slightly shocked - as she had THE EXACT SAME THING happen to her with GEMB through a purchase she made at PC Richards about a year ago.
Currently, I am awaiting a manager from Sleepy's to call me back, but we'll see if that happens - they know who they're in bed with.
I'm fully on board for a class action law suit to shut this company down.
Why it's legal to outsource the handling of American finances in India I will never understand.
How can we have any rights as American customers if we are being fingered by a company based in India?

Ha
  23rd of Apr, 2011
Agree Disagree 0 Votes

We bought new leather furniture with the 0% interest promotion and used Citi. GEMB took over Citi's accounts in Feb 2011 and since then it has been a disaster. I pay my bill every month and was going to pay the balance the last month, and COINCIDENTALLY did not recieve the statement for the last month when the interest started to accrue. After tons of phone calls and time wasting disputes we finally got the interest charges dropped, but not without a huge headache. What a scam. This company is just plain crooked,

Ca
  9th of May, 2011
Agree Disagree 0 Votes

GE Money is a scam in all areas. I paid a bill online then they started sending my bill instead of in the mail to my hotmail. It went to my junk folder. They said I signed up for it and I have been charged all the additional fees 9 months now. This crap with credit cards and banks needs to stop. They are finding innovative ways to rip people off. It is tough in this economy!

Sc
  23rd of Aug, 2011
Agree Disagree 0 Votes

I have suffered the same issues of GE not posting payments. I paid the balance off a month prior to the "No Interest" deadline and they conveniently did not post the payment. Now I am fighting with them over the Huge interest charge they are trying to get me to pay. I will be filing a formal law suit with them and hopefully a smart attorney will see the huge money to be made by a class action against these crooks. It appears they have a set operational procedures in place to violate the payment posting laws in order to make interest on non interest loans. Incredible scam...

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