• Report: #443182

Complaint Review: G.E. Money Bank / Care Credit

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  • Submitted: Mon, April 13, 2009
  • Updated: Wed, April 15, 2009

  • Reported By:West Haven Connecticut
G.E. Money Bank / Care Credit
3135 Easton Turnpike Fairield, Connecticut U.S.A.
  • Phone: 203-840-6441
  • Web:
  • Category: Banks

G.E. Money Bank / Care Credit is using universal default to ruin our credit. Fairield Connecticut

*Consumer Comment: Get real.

*Consumer Comment: THANX TO OUR ELECTED OFFICIALS

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Just last week, my wife and I received a letter stating that G.E. Money Bank is going to cancel our account, which we've had since last June and haven't charged anything since that time and have paid them ON TIME since then.

They claim that it's because of a mark on our credit report, which is probably the mortgage, which is 60 day past due but we are in negotiations with the lender, have been in touch with them since the beginning and now with this action of Credit Care cancelling us, the other credit companies will become vultures to do the same causing our credit score to plummet to perhaps zero if they have their way.

They are scum, vermin and whatever title you wish to bestow upon them and we are currently gathing people's names who wish to join a class action suit against them for mis-using and abusing universal default to defile and humiliate card holders that do pay on time and get punished severly for doing so.

It's crazy, but we have also isssued a press release on this date, April 13, 2009 and we've also contacted U.S. Representatives and U.S. Senators that sat down with these same vermin last year and discussed the abolishment of universal default.

Please see the link below to the press release and the link below that to our blog, where, if you or someone you know may sign up and be part of the class action lawsuit.

(((link redacted)))

The blog is below:

(((link redacted)))

Thank you folks, hope all things are well with you otherwise and together we will make a difference whether Washington does their job or not. We can take care of them later.

You are invited to call us at any time regarding your experiences wih G.E. Money Bank and their credit card services.

Sincerely,

Misterg
West Haven, Connecticut
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 04/13/2009 09:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/GE-Money-Bank-Care-Credit/Fairield-Connecticut-06825/GE-Money-Bank-Care-Credit-is-using-universal-default-to-ruin-our-credit-Fairield-Conn-443182. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Get real.

AUTHOR: Flynrider - (U.S.A.)

The Universal Default clause was in your original credit agreement. If you object so much, why did you agree to it in the first place? At this time, the Universal Default clause is perfectly legal, so I'm trying to figure out what you are in a lather about. Press releases, class action suits? Give me a break!

There are a lot of things besides U.D. in revolving credit agreements that are ripoffs (yet perfectly legal). Which is why you should be careful about entering into these agreements in the first place.

Bottom line, your credit status has changed, so G.E. is covering their exposure. You no longer have the creditworthiness that you had when you were originally granted credit by them. You may get it all worked out, but from G.E.'s perspective, you might just run up a large amount of debt that you will be unable to pay. It's a common scenario in the credit world these days. Even without U.D., if a borrower's credit status changes, a lender has the right to alter terms under a revolving agreement. Otherwise, everyone would be able to keep every credit line they ever had open, even if their finances and credit rating went into the toilet. If that were the case, credit would be even harder to come by than it is now.
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#2 Consumer Comment

THANX TO OUR ELECTED OFFICIALS

AUTHOR: Laurie - (U.S.A.)

The law they passed to END UNIVERSAL DEFAULT does not go into effect until 2010. So it does not apply at this time
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