Polaris/sam's Club / High Intrest Trap
I made an over the phone payment for my Polaris account. I have had the same banking account for several years. I have my account number memorized and I use it often. GE told me that me payment was denied because I gave them the wrong account number. I had no reason to give them the wrong account number. When you call GE there is a recording that states that the call may be recorded. I asked them to listen to their recording and they refused. They would not budge. Because that one payment was late my account went into default and my payments more than doubled.
My second experience with GE was through Sam’s Club. I have been a customer of Sam’s for years and I have never had a problem with them until I paid off my account in what I thought was payment in full. I walked into Sam’s and told them I wanted to pay off my account. I paid the full amount they gave me. Later I received a letter from GE telling me that I still owed a balance for Sam’s. The balance was small until they added interest and late fees. I explained to GE what had happened and again they refused to work with me. Had I known that my account with Sam’s Club was through GE Money Bank I would have closed it when I had the first problem. Because the payments were so high I had to make a loan to pay off my Polaris account and I did not renew my Sam’s Club membership. I have learned that when I am planning on doing business with a company (even if I am not seeking credit), I will ask the company representative if they are affiliated with GE Money Bank. If they are I will tell them of GE’s business ethics and then I will go elsewhere for my business. I have also discouraged my employees and family members from doing business with companies affiliate with GE Money Bank.