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Sam's Club / Ge Money Bank / Uutrageous consumer treatment

1 United States Review updated:

I would like to file a professional and personal compliant against "GE Money Bank", who carries the credit for Sam's Club.

Their credit criteria and treatment of the Sam's Club consumer is outrageous.

Sam's Club markets to the "Small Business Consumer" yet uses the most difficult means of issuing credit to their clientele.

Who is really the winner here?

Their "Business Credit Card" interest rates are the highest I have experienced.If you do not ask for consideration of a reduction in the rate, you do not get it. Currently they are charging 27.49%. If you plead and beg you might have it reduced to 13%, which is terrible for small business.

If you miss one (1) payment you are put into delinquencies and harassed at home or your business for payment.

Then you have to show six (6)consecutive payments on time to go back to the interest rate you had to beg for in the first place.

I believe they, GE Money Bank, have a "List" of consumers that are tracked by them for "problems in the past".

For example, they are also the Credit carriers for The Gap, Banana Republic and all of their stores. If you have ever had an "issue" with any of their credit alliances you are on this list, knowingly or unknowingly.

I am self employed and live in South Louisiana, I have had "issues" prior to and since the Hurricane.

When they call your home, they "block" the call, and use harassing and intimidating measures to find you.

They do not inform you the call is being recorded. You are told by the caller that you are in "Collections" for one (1) past due payment on a bill that totals $713.16.

Do not do business with GE Money Bank. Ask questions before you sign that credit application with all of those smiling faces at Sam's Club. The winner is Sam's Club and GE Money Bank, not the consumer.

Maria McLellan

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Comments

  • Ja
      1st of Oct, 2007
    0 Votes

    Maria,

    I agree with you 100%. But it is worse in my case. I had a bill of around only $80 and was one day late on my payment (the minimum was like $15) and Sam's Club called me over and over and over and over and over and over again. I don't answer calls on my cell phone that I don't recognize, so I didn't answer and they obviously never left a message.

    I finally called them back and they told me I was late and they charged me a $25 late fee on a $80 bill. My credit is immaculate and I've never been late on a payment in my life. The reason I was late was because they said they sent me out a statement, but they didn't. I never would have not at least made the minimum payment.

    So now I am in the process of buying my first house and the loan officer is running my credit and tells me my credit score got dinged points because of this stupid Sam's Club mess.

    They handle their credit HORRIBLY. They are billion dollar company and harrass customers for a mere $15 minimum payment that is past due.

    I have paid off my Sam's Club card and if and when I do go back there to purchase something I will do so using my own credit card or cash.

    And I will also not recommend anyone to Sam's Club from this point on.

  • An
      25th of Feb, 2008
    0 Votes

    Folks... read your terms and conditions. Besides ALL banks the moment you owe them money, and they aren't receiving it... their collections division will be all over you. Late fees are there to deter people from going late. Oh and 27.49% rate is because you were past due on at least 2 bills... pay on time.

  • Gw
      9th of Dec, 2011
    0 Votes

    I tried to get a refund for a returned item and the "bank" kept putting up "policy" statements. When I asked to see a copy of the policy they said they did not have access to outside emails or fax and again, that was handeled by another department and again "your local" Sam's Club has them (they did not) (nor would they talk to the local Sam's Club). They would not talk to the bank the money was supposed to be transferred. (and to be fair that bank would not talk to them either.) Makes me wonder how deep banks are in the controlling of funds in this country. So after almost two months I am stilling spending time and money trying to get my refund. I guess I'll have to find a "cheap" lawyer with my receipts and journals.

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