Complaint Review: GE Money Bank - Sam's Club Credit - El Paso Texas
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- Author Confirmed
- GE Money Bank - Sam's Club Credit P.O. Box 981401 El Paso, Texas U.S.A.
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- Category: Credit & Debt Services
GE Money Bank - Sam's Club Credit This Is a Scumbag Organization!! El Paso Texas
*Consumer Comment: GE Money
*Consumer Comment: GE Money
*Consumer Comment: GE Money
*Consumer Comment: GE Money
*Consumer Comment: And the ripoff is?....
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My wife and I have a Sam's membership in her name and had a Sam's Advantage Credit Card through GE Money Bank. For the last several years, all has been fine with on time payments. Most balances were paid off each month with the exception of Christmas charges and that took three payments to clear. Finance charges were at 19.90% and we thought that was high inasmuch as we had been loyal customers paying as agreed.
Enclosed with last month's statement (March 2009) was a notice that the terms of our account were being changed. Finance charges were increased by 50%+ to 29.97%!! The notice said that if we did not agree with this to contact them by letter to reject the new terms. We wrote that letter and my wife signed it since the account is in her name. We got a reply today (10 days later) from GE Money Bank and they closed our account with no explanation other than we opted out from their terms.
We have done business with Sam's and GE for years and this is what we got back!! I have those letters scanned and saved in PDF format for anyone wanting copies. GE Money Bank is down right unappreciative of loyal good paying customers and Sam's Club needs to reevaluate their arrangement with them. If Sam's Club and/or Wal-Mart choose to ignore the matter, they must approve of GE's practices and need to be reevaluated too.
Richard
Mesquite, Texas
U.S.A.
This report was posted on Ripoff Report on 03/20/2009 03:46 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ge-money-bank-sams-club-credit/el-paso-texas-79998-1401/ge-money-bank-sams-club-credit-this-is-a-scumbag-organization-el-paso-texas-436069. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#5 Consumer Comment
GE Money
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Tuesday, April 07, 2009
What Sams club needs to do is find arrangements with Visa and American Express card companies and get rid of GE Money.
GE Money are not going through request to try and at least lower the rates or aprs.
With that said, they were told the other day that I am practically done with them in 3 months if I can get my other cards down a little bit more.
It sucks being in debt but if you can negotiate something with the companies they might be able to do something.
The company doesn't care as far as I am concerned.
All they care is the money.
#4 Consumer Comment
GE Money
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Tuesday, April 07, 2009
What Sams club needs to do is find arrangements with Visa and American Express card companies and get rid of GE Money.
GE Money are not going through request to try and at least lower the rates or aprs.
With that said, they were told the other day that I am practically done with them in 3 months if I can get my other cards down a little bit more.
It sucks being in debt but if you can negotiate something with the companies they might be able to do something.
The company doesn't care as far as I am concerned.
All they care is the money.
#3 Consumer Comment
GE Money
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Tuesday, April 07, 2009
What Sams club needs to do is find arrangements with Visa and American Express card companies and get rid of GE Money.
GE Money are not going through request to try and at least lower the rates or aprs.
With that said, they were told the other day that I am practically done with them in 3 months if I can get my other cards down a little bit more.
It sucks being in debt but if you can negotiate something with the companies they might be able to do something.
The company doesn't care as far as I am concerned.
All they care is the money.
#2 Consumer Comment
GE Money
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Tuesday, April 07, 2009
What Sams club needs to do is find arrangements with Visa and American Express card companies and get rid of GE Money.
GE Money are not going through request to try and at least lower the rates or aprs.
With that said, they were told the other day that I am practically done with them in 3 months if I can get my other cards down a little bit more.
It sucks being in debt but if you can negotiate something with the companies they might be able to do something.
The company doesn't care as far as I am concerned.
All they care is the money.
#1 Consumer Comment
And the ripoff is?....
AUTHOR: Vimot - (U.S.A.)
SUBMITTED: Thursday, April 02, 2009
The answer is: there is no ripoff. The bank sent you new terms for your card, as I'm sure you know they can do at any point. They gave you two options :
1 - agree with the terms and do nothing, or
2 - send them a letter in writing stating that you do not agree with their new terms.
You chose option 2 - you told them you did not accept their new terms and they closed your account.. What did you think they were going to do? When a company sends you your new terms and you advise them in writing you do not accept, they close your account. Plain and simple. End of story. What people in this country don't seem to understand is that when it comes to business and contracts, we're not dealing with whether or not you "feel" this is unfair. Perhaps it is. However, you signed a contract and that's all that matters. No ripoff here.
PS,
Why would anyone want or need PDF copies of these letters? Just curious...
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