GE Money Bank, Honda Card ripoff predatory dishonest billing Salt Lake City Utah

Through GE Money Bank (Honda Card), I opened my account in March of this year (2005) through the Honda Card program at a special promotional rate of 6.9% for the first 24 months, payments of $69 for the first 24 months and no accrued interest charges until the 25th month. My contract also reads, "If you do not make your required Minimum Payment within 1 month after the Payment Due Date, the Delinquency Rate will apply to all existing balances..."

I have consistently paid my bill well within these guidelines.

I learned today that back in July 2005 they changed the due date from the 10th of each month to the 5th and claim to have included a notice in all billings. My July 2005 statement reads, "SEE THE INCLOSED IMPORTANT NOTICE REGARDING CHANGES TO YOUR CREDIT CARD AGREEMENT. THESE CHANGES CAN BE AVOIDED AS DESCRIBED IN THE NOTICE. IF NO NOTICE IS ENCLOSED, YOUR ACCOUNT IS NOT AFFECTED BY THE CHANGES". I keep everything and have no additional notice.

Per Customer (dis)Service, they also included a new stipulation that your payment is now considered "late" if it is not received by the Payment Due Date. Under these new terms, I was told that "in-house" automatically considers this 30 days late! Also, if you are "late" 2 times your account automatically converts to the Delinquency Rate, which is at 28.9%...a 418% increase of my original rate!

I spoke to two separate Customer Service Reps and one Supervisor (I have the first names, dates and times I spoke to them) and all claim they can do nothing. When I asked how many thousands of people were effected by this change, the Supervisor said, "There's a lot".

I'm currently researching this company in hopes of partnering with any Consumer Fraud organizations. I will be notifying the local BBB as well as anyone that will listen during my dispute of this predatory tactic.

Anyone who used this same program, check your balances and BEWARE!

George
Sacramento, California
U.S.A.