Henrietta
  • Report: #873938

Complaint Review: GE Money Bank/Capital

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  • Submitted: Wed, April 25, 2012
  • Updated: Wed, April 25, 2012

  • Reported By: KL — Bolingbrook Illinois United States of America
GE Money Bank/Capital
Internet United States of America

GE Money Bank/Capital lack of disclosure, lowering monthly payments to ensure collect interest Internet, Internet

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I bought a bed through Select Comfort under promotional pricing with no interest if paid off through certain period.  At a later date I brought something else which is not under the promotational. They did not indicate the amount I would need to pay to ensure paid off to avoid interest like other promotional offer credit card companies I have done did and they continued to charge me interest and did not apply any amount I paid to that balance which was low and continued to charge interest.  In addition, they kept lowering the monthly payment, which is deceptive, as if someone was not careful, they would only pay the minimum thinking they were paying off the entire amount only to find out they had a lot more to pay off than originally thought.

 I have bought many things on 0% financing for a period of time and the amount of money to pay the month stayed the same (evidently they were not trying to make sure they made money and cared more about the customer).  These other places have also indicated what amount needs to be paid by what date to avoid interest.  When talked to the company they stated to read their Fair credit report on the website. Very deceptive practice.  want to warn people to watch their balances and monthly payments so they do not get stuck with a huge bill they thought they had paid down on and are stuck paying interest for the promotional period as they did not pay the amount in full. Let's not give these guys any more money than they deserve

This report was posted on Ripoff Report on 04/25/2012 07:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/GE-Money-BankCapital/internet/GE-Money-BankCapital-lack-of-disclosure-lowering-monthly-payments-to-ensure-collect-int-873938. 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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