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GE Money Bank / Credit

1 TX, United States Review updated:

My husband and I needed a set of four tires for his truck. The current ones won't pass inspection so we can't get a current inspection sticker. We've tried to find decent used tires but haven't been able to yet. He needs this truck to go to work every day.

The cheapest we've been able to find are $600 (out the door) for a set of four. We didn't quite have the whole $600. We had $300 cash available. We tried to get $300 credit at Pep Boys and Discount Tire. They both use GE Money Bank.

We were refused and were told "We haven't seen them giving credit to ANYONE lately!" We don't have the best credit in the world but it's not that bad either. GE Money Bank got a government bail-out (OUR money) and they are on my black list from now on, whether the economy improves or not.

We weren't asking for a private jet, or to advertise our business on the side of the Super Bowl for $5 jillion trillion. We asked for a $300 loan for 4 tires to go back and forth to work.

So Ge Money Bank, you know where you can go.

Sh
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Comments

  • Ca
      24th of Feb, 2009
    +1 Votes

    Interesting comments and thanks for sharing. I hold 2 credit cards with GE, one is Lowe's Home Improvement and the other is Paypal Buyer Credit. I have never been late with a payment or over limit on either and have had them for 5-7 years. I recently received letters stating that my credit limits were reduced (twice for Paypal in the last 6 months, even though I hadn't used it). The bad thing is that they reduced my limits to the remaining balance amount, so to the credit agencies, it looks like they are maxed out, which instantly reduces my credit score. Needless to say, I paid them off with my tax return. I will keep them simply because there is no annual fee and they actually add to my long term credit reporting, which again, can impact my score. Otherwise, I would tell them to shove it. If this is how they treat their good customers, maybe you should be grateful you were spared doing business with them! I hope your husband managed to get some decent tires without the help (horror) of GE!

  • Gr
      9th of Mar, 2009
    0 Votes

    I also hold a card with GE Money Bank. I have been systematically closing all my accounts with banks that have received bailout funds. With this in mind, I researched GE Money Bank...

    As an FYI:

    GE Money Bank is the US credit card issuer under General Electric (GE) Capital who taps funds from the Federal Reserve Bank of NY (FRBNY)(http://www.iht.com/articles/2008/11/23/business/morg24.php). The FRBNY has had $20 billion dollars committed to them through the Troubled Assets Relief Program (TARP or the "bailout"). However, the FRBNY has not spent any of that money...

    And, as of mid-February, GE Capital had NOT recieved any TARP funds (bailout money) at all! So for now, I am keeping this card.

    Best wishes for safe banking!

  • Ga
      1st of Jan, 2010
    0 Votes

    I went to pep boys and had $700.00 + work don’t to my blazer. had $900.00 +left on credit. statement was only 2 weeks old. went to swipe my card and was denied. I called the # on the back of the card and it said I only had just over $100.00. didn’t know what was going on. I called them the next day and they said they lowered my credit limit. I went to pep boys on the 22 nd went to pick up my blazer on the 23 rd . ge money says they sent a letter out to me. Did not get it. I waited until I got off work and called again. Talked to a supervisor. And asked when they lowered my credit. and he said it was the 22 nd. The same day I took my blazer in. isn’t that funny. I no longer own my 1997 blazer thanks to ge money bank. Some one else is enjoying the work I had done to it now. I Have bad credit now due to ge money and had to go to court. Thanks a lot you bunch of [censored] at ge money. The government bailed your ### out and you screw me. Needless to say pep boys lost a customer thanks to ge money. I will not step foot into a pep boys. I know it is not pep boys fault but that’s life. Not only that but they don’t sell bicycle parts. that’s what I have to ride now. I hope who ever decided to do this to me rots in hell.

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