GE Capital Retail Bank GECRB, JC Penny Credit Consumer Credit Card Company Bridgewater New Jersey

GECRB provides financing solutions to companies such as JC Penny and other Stores as well as Mattress Retailers.  Many companies who offer financing terms where the first 90 days are free of interest utilize GECRB. 

The danger comes when you have multiple accounts which resolve to GECRB.  The possibility is high especially if you use a web bill pay system to pay your bills that you will end up sending money to GECRB under the wrong account number.  GECRB's response is to charge an exorbinant fee for late payment, as well as placing an immediate and derrogatory remark on all consumer credit reporting companies.  Even though they could cross reference payments to the wrong account they conveniently refuse to do so.  Nor will they remove the negative remarks from your credit report.

None of the above is technically illegal, and it could be argued in court that these are perfectly legitimate finance practices.  But as a consumer, this will do you little good when an otherwise spotless financial history is degraded for 7 years simply because you decided to avail yourself of a little credit that uses GECRB as a finance provider.

Make sure that anyone who offers you any kind of financing disclosed the actual company that will be providing the financing and if it turns out to be GECRB, avoid the line of credit at all costs.  The risk to your credit history by this rabid company, will be a source of regret to you for years to come.