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White Oak Windows / Ge MoneyCharging higher rates when promised low rates

We moved into a new house and were approached by White Oak Windows & Doors. They seem to be easy to work with and did great work, but we had financed $15, 000 for all new doors and windows with 0% for one year and was suppose to be 7.24% after that. Well it after a year passed we paid off what we could, but knew we was going to pay when they finance charge kicked in at 7.24% which we paid the 7.24% for just 4 months and to find out by the 5th month they would raise it to 12.99% on a almost now $14, 200 balance.
I had got their letter about changes in account and when in fact I called them to be 100% sure it did not affect my account they assured me it would stay the same at 7.24% till paid off in full (unless a late payment occurred which they can raise it to a rate of 29.99% which is flat out unacceptable with about anyone trying to get out of any debt. What has the world come to these days when companies can RIPP OFF anyone at any given moment and raise rates to levels beyond most anyone else?
I will NOT and NO longer ever support GE MONEY BANK, GE CO., and or ANY COMPANY who used them for finance or any relations. I suggest to all people out there who read this do the same and make a stand against such company like GE MONEY and their RIP OFF tactics that use time and time again if you read other complaints online. I just wish I had read them before I used them to finance our windows and doors; I would have not used either company to be honest. BEWARE of GE MONEY and them RIPPING YOU OFF of your hard earned money, especially in a time of an economy crisis. GE MONEY is a cutthroat company that our out to only profit themselves and it shows in their good old American Pride. I hope I see the day the company falls and closes its doors for good.
Another RIPPED OFF GE Money customer,
Daniel Ferguson

Responses

  • Wi
    William H Mason Sep 16, 2009

    Wow... First of all let me say that I am not familar with White Oak Windows and Door however I am familar with GE Money Bank. My wife and I have used them in the past. We have esed them through Best Buy and through HH Gregg there are many companies that use this organzation for financing purposes. You can blame the window company for offering you financing that you accepted. If you did not read the contract, which spells out the terms, then shame on you. myou can blame other for your stupidity! When you finance something for 12 months same as cash it is a free loan if you pay it off whithin the 12 mo period. If you do not, then yes they have a higher interest rate. This is how these companies make income. The are not ripping people off. They know that some customers will pay off the balance and they will not make a dime and they also know that uneducated americans will accept the loan and then not pay it of and complain about it.

    Everything is in writing. READ IT OR DO NOT COMPLAIN. It is ridiculous that complaint about good companies are allowed to be posted whn the coomplainer is the idiot at fault!

    I am ok with ge and the thousands of American business that utilize their finanace programs.

    William Mason

    0 Votes
  • Jo
    Josh Folcik Mar 06, 2010

    I have ge money bank for my siding loan, it was 15.24% for the first 20 months, now it jumped in one month to 20.25%. It just isn't competitive, I'll have to go elsewhere with the balance. The indian call center lady told me she couldn't help by adjusting the rate at all and told me every loan increased to this 20.25% rate.

    0 Votes
  • Ti
    Tina Sabotin, R.N. Jul 08, 2010

    GE Money Bank is a rip off, I agree. It took me 5 years to pay of a surgery for varicose veins due to their raise in rates. Tip: never finance any medical expenses because most private insurances (not sure about medicare or medicaid) have "out of pocket maximums" that otherwise wont apply if your balance is financed. Another tip kind of off the subject: If you use a visa debit for anything and use your pin, it is not covered under the visa insurance protection (theft, loss damage, etc.), however, if you sign for your purchases vs. using you pin number, it is protected by this insurance. This was the case when I worked at an Indianapolis bank 6 years while attending nursing school. Something to double check on.

    Tina Sabotin, R.N.

    0 Votes

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