GE Money Bank
United States - 06828
I'd like to furnish the details of the persons/companies involved in this case before I proceed with my story :
1. ASM (Ge Money) : Mr. Yash, Cell: +91 [protected]
2. DSA : Radiant Marketing, Tel : +91 11 [protected]
3. Sub DSA : Vikash Mehta, Cell: +91 [protected]
I had applied for a personal loan of 5 lacs for a tenure of 48 months via Mr. Vikash Mehta, who collected the necessary documents from me. I had made it very clear to him right in the beginning that I wanted this loan for a longer tenure, if 60 months was not possible then for at least 48 months.
A few days later, he collected the PDCs from me saying that my loan application was sanctioned for 4.77 lacs and for a tenure of 48 months. The same day in the evening, I got a call from Mr. Yash (ASM, GeMoney) confirming me the approval but adding that the tenure could not be exceeded beyond 36 months as per the company policies. During our conversation, I clearly told him that I would have to forgo the loan as the tenure was not suitable to me and he agreed. There on, I had been calling Vikas to return my PDCs almost every day.
Then on 4th of Oct, I got a courier (the loan cheque) from GeMoney which I didn't receive and immediately called Vikas for a clarification. It is shocking what he had to say. He told me that Radiant Marketing was the DSA through which my file was processed. Instead of canceling the loan they went ahead with it because they had to meet their SALES TARGET! At the same time he promised to take necessary steps to cancel the loan and I needn't worry. I also called Mr. Yash who didn't take my call. The call centre refused to register a complain because I didn't have a loan a/c no. (since I had returned the courier without reading the contents).
On 8th of Oct, Radiant Marketing called me to confirm as to why the courier was returned. After I repeated the whole story again, Ms Madhu (Radiant Marketing) put the whole blame on Vikas (their sub DSA) but also promised that since I did not want the loan it would be canceled. They had the cheque with them which would be returned to Ge.
Today, somebody rings my bell, literally throws the envelope at the gate and disappears. So, I'm back to square one with the unwanted cheque in my hand. I'm thoroughly disgusted with the whole thing and request somebody of high authority at GE to take care of the matter personally.
One should think twice before approaching GE Money!
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.
Short version: Their website didn't work to make payments, I've been paying bills online for over 7 years - theirs is the ONLY one to NOT work so far! If you've had an issue with the, please re-enter it at:
These get read by lawyers & I VERY much would like to get a class action suit started against them!!
Please do not use this company. I am a very responsible person and have never complained about loan procedures before. GE tried everything they could to collect finance charges from me. I disputed a service, they told me to dispute it as a billing error. I told them it was a quality of service issue. They insisted I call it a billing error. I disputed the charges and was told that I did not dispute the charges in the time limit allowed for a billing error.
I resubmitted a dispute as a quality of service issue and waited two weeks for a response. I called them and was told they did not receive the second dispute. After about 20 minutes and a request to speak to management, I was finally told that the time limit for a dispute for quality of service had expired. Today, I now have 4 days to get a payment to them or face 22.98% finance charge for the last year. I will wire the money and let you know if I get the same response that others have had from this company. I filed a complaint with the better business bureau. If you have problems with GE money, you should complain too.
What a bunch of bull. Don't go there!!!
This institution (I use the words aberrantly) is less than wonderful. It has some how managed to fly under the radar of the FTC and state's Attorney Generals for some time. If they're to be held accountable, then these complaints have to be directed to the appropriate government agencies. It is unlikely anything will happen by posting to a public forum other than a public service.
On the other hand, you have to take some responsibility for entering into a relationship with GE. Perhaps the emotion of the moment clouded your judgment or you allowed yourself to be persuaded by a less-then-forthcoming person. Nevertheless, you've got to read everything: disclaimers, small print, interest rates, fees. Everything! Upfront, the deal sounds good, but after it's all over and you have agreed to the terms, which includes subjection to inimical conduct of GE, there isn't a great deal of recourse options, if any, that are available.
Their interest rate have remained high, even through the recent recession when rates were at an all-time low. This is a company you have to keep on top of and make sure payments are not late. If you fall behind or are late, then your troubles are just beginning. I wouldn't be surprised if GE wasted no time in reporting a delinquency to the credit bureaus, thus your FICO score takes a major hit. Their interest rates are not the highest, but they are high nonetheless. For example their ShopNBC card carries an APR of 24.24% and a delinquency rate of 26.99%; late fees range anywhere from $15 to $35, depending on the balance.
My antipathy toward GE has been growing for sometime. My first experience was when I applied for PayPal Buyer credit about a year ago. I would use it to pay for auctions won off eBay, and either pay the balance in full or take advantage of items eligible for 0% interest promotional period. Obviously, the balance needs to paid in full before the end of the period, which begins when the item posts. The APR is 23.75%. I suspect the delinquent rate and fees are similar to above, if not more. When I first applied, I was extended a $250.00 credit limit. Frankly, I found it an insult considering my FICO score and debt ratio. GE allows one to apply for a credit increase every 90 days, so I'm not sure why they don't just don't grant a limit based on credit worthiness initially. However, they're a financing business and can set their own rules if one wishes to play with them.
My second experience started with ShopNBC. On their TV program, they occasionally list big-screen TVs for 12 month 0% interest. Of course this only is applicable on the ShopNBC credit card through none other than GE Bank. I said, "what the heck, I'll apply." During the application, your approved for either a ShopNBC card or ShopNBC Visa. The TV I was interested in cost $1200. Remember the best money to use is someone else's at 0% interest. After I went on-line to apply, I was approved for a ShopNBC credit card with a limit of $500. Obviously, buying the TV was out of the question. Not to mention another insult. I protested to ShopNBC, who said there was nothing they could do. I then wrote a letter to GE Bank protesting their decision. They have yet to reply and that was over 6 months ago. Needless to say, the card arrived and I did not activate it. The whole ordeal turned out like a bait-n-switch scheme, but it was perfectly legitimate. The lesson here is what seems morally wrong is nonetheless legal.
I did however, apply to a major card issuer and was approved for a $10,000 limit with 12 months 0% introductory rate. I bought a big-screen, but not through ShopNBC.
Card issuers are getting devious in their practices. For example, some reset the APR to the delinquent rate if you miss one payment. Another trend is to reset rates if you're late on any payment for other creditors and services. Still others, like Providian, have received payments on time, but did not post it to the account until after the due date, thus triggering late fees. Providian got caught doing this by he way. That is why is is all the more important to know what your getting into.
All I can say with regards to entering into a contract with GE is caveat emptor. And if one does, scrutinize the relation under a microscope.
Received a letter in the mail from Lowes stating that my account had been upgraded and that I would be...
This is my second time complaining about this company recently I received a bill charging me Interest on a account that was to be interest free till October. I called the credit company and they told me to called Peach Direct . I called Peach Direct and what do you think ,they told me to call GE Money Bank.I have never Had a problem like this Company in my Life . I was trying to purchase a nice gift for my Daughter for passing her grade and it's been I headache. BEWARE!!!
I took a loan (A/C No.RDLR00662560) through GE Money in New Delhi. I surprised that they never present EMI checks to my bank for clearing. I called up so many time their call center phone number ([protected]), requesting them to present my check in my bank. But they don't care.
Every month they send collection agent to my home for collecting EMI in cash. Why these guys are calling for EMI & receiving cash from my home. I requested them please get checks all of your EMI's if you have any problem. But they don't listen. They told me that they will receive your EMI in cash only from your residence. It is very ridiculous. For the last two months they have not called. AND not coming to my residence. Now I got a notice from GE Money regarding Non Payment of EMI.
IS it the appropriate procedure for collecting EMI? I need to report this issue with GE Money India head.
If any GE Money concerned person is interested to know more about this issue, Please email me [protected]@yahoo.com, I will glad to explain everything.
Thank you so much for your time,
I have taken Loan with Ge Money for Washing Machine. When I have signed the contract and issued the cheques then I cleared that Cheque Date should be after 07th of every Month. Because I will my EMI on the basis of my salary. Then showing the Irresponsibility by Ge Money they put a Cheque date of 04th of every Month. When two cheques returned and I refused to pay EMI and I have suffered cheque bounce charges 500/- from my bank. then Ge Money assured me to not charges any kind of penalty and I paid EMI in Cash. Now when my Loan is over the GE Money told after We will give original documents after payment of penalty.
This company is the most deceitful loan company i have dealt with. I got a loan for $2,000 a year and a half age, supposed to interest free, somehow i still owe $1,400. I pay $84 a month and 30 of it goes to interest. I was not informed up front, i feel like i was completely taken advantage of. If you can avoid it, do not get a loan with this company. I got mine through drivers auto in spring. They will screw you over and not give a damn about it.
Don't try to take Housing or any other loan from GE MONEY. They are the people who has low class attitude. You might feel good initially, but later you will suffer a lot. I have a Home loan from GE Money taken on Dec 2005, they have been revising the interest rate for every 3 months, but there is no communication to Customer. Now they have revised to 12.25% (as on 19th July 2007) which is much above the market rate offering by any other banks offering.
I called their customer care [protected] and requested for a closure letter to transfer loan to other bank. 48 hours TAT, i called them after 2 days and verified what is the status, but they never registered the complaint, launched a complaint/request again, CSE confirmed that there would be a call back from the concerned. But even after 3 working days there is no call back, called again and requested, then also there is no call back for next 3 days.
They are doing S**T business, not even taking care of customer requests, when customer wants to go out of them, this is not fair and definitely not accepted by anyone.
Please don't take any loan from GE Money as they always cheat customer all the time.
I HAVE FILED A COMPLAINT WITH BETTER BUSINESS BUREAU... If you have experienced similar problems, you should too!!! I applied for a Care Credit credit card approx 4 years ago and use the card only for my sons dentist and ortho bills. In 2006, I asked for an increase in credit limit to allow for my sons braces and it was granted.
In Dec. 2006, I found that every time I made a payment of $78.00, my balance was going up, not down. I called Care Credit very upset about this, and no one could help me, nor understand me, nor could I understand them. I stated stated that I was considering closing my account.
A few months later, when calling in for another reason, I found that my account had been closed per my request. I never requested this, however because the representative, who can not speak nor understand English, decided that this is what I wanted, this is what happened. I told Care Credit that I did not request this, and they have told me, as they have everytime I have called them for any reason, that there is nothing they can do.
On July 9, 2007, I called Care Credit because I found once again, that I am paying $120 per month and my balance continues to go up. It seems that they tacked on a deferred interest amount that brought my card over the limit and they are charging me $29.00 in over the limit fees. So for each $120.00 payment I make, the balance goes up by $15.00. As you can see, these amounts will get larger as time goes by because it adds to my balance and I am getting charged interest on interest. I asked to speak to a supervisor on this call as well, and was told I could not. No one was available. I was then told that some one would call me... no one did.
I called back on July 9 to pay off my card with a credit card that I wanted to transfer that balance to so that it would not be a financial hardship on me. I was told by Care Credit that they could not do this because it had to be from my checking account. My guess is because they want to make it as hard as possible to get out from under the card because they are gouging their customers and this is the way they make their money... so why would they make it easy for you to pay off the card!!
On July 11th, I called and spoke to a supervisor named Natasha. I was told that she was sorry, there was nothing she could do. I explained to her that I did not request this account be closed, and she stated she was sorry, but it says I requested it. I explained that I did not request this, and she stated I could re-apply. I would not have a problem with the account being closed if it did not impact my credit score. However, it does. I don't feel that a representative from India who can't speak our language should have the power to affect my credit score because he thinks I said something that I did not say, but because he typed it into the system, it is what stands.
I do not feel that Care Credit / GE Money treat their customers fairly. I don't believe they should be able to impact my credit score based on what a representative THOUGHT I said, or decided possibly that because I was upset and threatened to close my account that they could take it upon themselves to just do so. This was not my wish and was not my intent at the time. Only a thought.
I do not believe that they should be allowed to deny payments of any kind.
They need to give better customer service.
Lowe's recently transferred my account to a GE Money Bank Platinum Card. While I appreciated the credit limit increase from $1500 to $7500, GE is now charging 19.24% for purchases! Not only did Lowe's do away with the 12-months no interest/no payments option, but GE is unwilling to negotiate the APR!
I have no intention of carrying a balance with GE Money Bank and have already begun the process to transfer the balance to another creditor at a 6.99% APR.
GE Money Bank handled the Paypal Visa card which I've also closed due to the inflated interest rates. If more people revolt against such predatory lending, perhaps GE will realize that the value of all consumers.
I purchased a used KTM dirtbike in the spring of 2005. I had been making all of my payment on time until a bad divorce put me in a bad spot. I soon fell behind on my payments and my account with GE went to collections. Since then I have sold my house and settled the account with GE.(that was in jan 07) As part of the settlement agreement, GE was supposed to sent me the title to the bike... that was SIX months ago. I tried repeatedly to get through to them with no luck. Each time I finally reached a live body at GE I was Quickly and rudely referred to another phone number with another rude employee who was not only unwilling to help,but unwilling to let me speak to a supervisor. I was sent in circles for 3 days with no results, each department saying to call another department. I have been forced to hire a lawyer on MY dime to get the title that belongs to me, and now they are giving him the runaround! Today I finally had enough and gave them an ultimatum... send me my title or we are going to court and seeking damages. Meanwhile I have a bike I cannot ride, register, sell, and losing value!
After paying GE Money Bank at total of at least $5,000 on two accounts, they send a suspension letter. I call, they say "there is nothing they can do." A customer since 2001, given them thousands in interest threw the years. All based on an incorrect Equifax report. They didn't even ask for the report until AFTER they had over 5 thousand clams. Further, their call center is in Spanish only unless you start to speak English. Maybe they are replacing American customers w/foreign ones. Anyway, dumped over a false report after handing them BIG BUCKS. That's gratitude. I even paid off a big heat pump/ac in 90 days (didn't move them). The letter says it's not Equifax' s fault but it's not mine either. GE MONEY BANK DROPPED ME ON FALSE PRETENSES. No doubt if I still had a balance, I would still be their treasured customer.
I signed up for PayPal buyer credit, and spent around $700 in various products online. When time to pay my...
I went to a dentist and he sold me an appliance that never fit me. I had to go to another dentist and pay...
I'd really like to know who is suing GE Money bank and if this is a class action. My niece is bombarded...
Our care credit account has been a pain in the neck since we got it. They did not send our first bill so immediately (6 weeks after the surgery) had added extra fees. Then to get all that cleared up took hours. We then paid the "payoff" balance with our tax return but suddenly the offer disappeared. There was now $60.00 left over. In the meantime I sent $20.00 toward that as I was too busy to argue at the time and I just found out that wasn't even accredited to my account and they added another $50.00+ of interest charges! Our bill is now $133.[protected]@!!!
I will contact the medical provider and tell them to trash that company's pamphlet.
For five months I paid my payment to GE money bank on time. I even paid over the amount. Shortly after my surgery on my eyes (april 06) my son was diagnosed with a lifelong disease. Despite the fact of having insurance , his expenses exceeded thousands of dollars a month. I live paycheck to paycheck. I own nothing. One of his medicines cost $444.99 / month. By August I was struggling to keep the electricity on. I wrote three letters to GE and none were answered. They now call me up to ten times every day. They refuse to respond to my letters and continue to harass me!