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Ge Money Bank Visa Card / canceled credit card

1 United States Review updated:

I have had a Visa credit card through Lowe's for several years. About five years ago I went through some tough financial times I was as much as three months late paying some months, but eventually caught up. About two years ago, my financial status began to improve and I completely paid off my Lowe's visa, as well as another visa and two mastercard credit cards.

For the past two years I have never missed a monthly payment, paid on time, and even paid the amount in full each month. I specifically focused on this so I could repair my credit history. Last month I received a letter stating GE MoneyBank had decided I was a bad risk and was therefore closing my account. I called and spoke to someone, stating I could understand if the account was closed years back. But they had faith in me and I proved them right by keeping a spotless record for two years and then the decision to close my account is made. That's ridiculous. Not to mention that after working so hard to build a spotless history, now I have a company closing my account on record, which means I have to start all over. That's not fair.

Ly
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Comments

  • Bi
      3rd of Feb, 2009
    0 Votes

    we bail out the very "executives" who after begging for and receiving bail out money receive millions sometimes billions in golden parachutes after looting their companies, WHY are these ### NOT on trial for fraud, theft, misleading financial reports. If they are not made to return the monies, do time, then halfway house, justice will never exist.
    The upper, lower middle class, , , it's time for "trickle UP economics.
    I hate to already say this but i'm starting to think Obama is not as prepared as i had hoped

  • Cs
      26th of Feb, 2009
    0 Votes

    We just had our account (Lowes Visa) through GE Money bank closed as well today. I am very upset over this because we have had this card for four years. We have NEVER missed a payment, have paid far above and beyond EVERY payment, and with our recent tax money we paid off the remaining balance in full. But yet they cancel someone who has good credit and pays their bills rather then someone who is total opposite of us and is a risk to their company. This company IS NOT thinking straight! Want to save your company? Cancel cards of delinquent customers. NOT those of reliable customers!

  • Bo
      27th of Apr, 2009
    0 Votes

    I am on board with you all on this, my wife lost her job last year and we were a bit late on our Lowes not to the point of months but week late. Finally got cought up and then paid off the account to a Zero ballance. As of last July we have had nothing on our account it has been sitting there with a zero ballance. I got a letter in March from GE saying that due to reports from credit agencys Ecofax that GE is closing my account. What the heck I have a zero ballance and it has been paid off for 9 months and now for no real reason they are just closing it and sending me this letter. That is stupid on many accounts. One I will never do business with GE or Lowes now, you are turning your back on people who were loyal enough to make the payment during the hard times even though we could have just much more with that money and blew you off. We instead paid and although late at time we took care of our end of the bargain, you how ever are ### and drop folks even though we cought up and paid you off. I will due businss with other companys gladly. Some day soon hopefully this mess will be cleared up and business will be back to normal and then I will be sure not to do business with you and those whe turned you backs on us in these hard times.

  • Co
      7th of Feb, 2011
    0 Votes

    I was 3 days late on my payment with GEmoney and had rep's calling me throughout the night trying to get their money. Eventually I had to turn my phone off. It was rediculous!!! Then, I call them back to make the payment, and they said they added $40 a day for every day it went unpaid. I was waiting on my taxes to come in so I could pay it all off!!! I got upset and tried to talk to a supervisor and they said, "it's not our fault you fail to pay for what you commit to!" Ok, I understand... BUT I WAS 3 DAYS LATE! So, since the money had gone into my account that morning, I tried to pay it all off. They told me "Our supervisor said that giving you another chance is a risk to our company" and that their "final decision" would be to have me pay the full balance and then cancel my card. I agreed, paid, and said " Now cancel it because I don't want to have to deal with this [censor] anymore." Then the representative said, looks like we can keep your account open but your limit will go from $3000 to $500. :0. WTF???!!!

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