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Report: #282937

Complaint Review: PayPal Buyer Credit - GE Money Bank - El Paso Texas

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  • Reported By: Phoenix Arizona
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  • PayPal Buyer Credit - GE Money Bank PO Box 981064 El Paso, Texas U.S.A.

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For starters we need some background info. Paypal and Paypal Buyer Credit from Ge Money are online ways of paying for products purchased ONLINE. I use paypal frequently and love its conveiniences. One day I saw an offer for Paypal Buyer Credit throu GE Money Bank. I used it for a few purchases and have been paying more than the minimum for nearly a year using it as a conveinience as well.

The 1st month I paid my bill online way in advance so I had no issues. The 2nd month I went online to pay it by its Due date, in fact 1 day BEFORE it was due, and I see on the site they make you set up your payments for 2 days or more in advance. They also have no way of automating payments in this screwball system. I made the payment online anyways considering it was early. I ended up getting a late fee (I think $39 and a strike on my credit!) I then called Customer Support, waited on a 45 minute call and finally got a CSR to remove my late fee. This still does not remove the strike on my credit for being "late" even though I was early! I will also add here they have very unhelpful and RUDE customer service in what seems to be an outsourced India call center. This was the 1st time I had to deal with Paypal Buyer Credit's so called "customer support".

Months went by, nearly a year with me knowing make that payment early! This month however, I go online again to make the payment but this time I am only 1 day early (payment dates change). Low and behold, if I pay with their online system I am sure to get another credit strike and late fee so I cringed and decided to call their "customer support" for yes you called it another 45 minute phone call to a careless call center. Their phone system messages have now changed and easily directs you to the phone payment method that costs $10-$15. Go figure. If you stay online and listen carefully you may find a way to talk to someone... Someone who will not help you anyways. The phone method without a CSR is $10 for payments and $15 with a CSR. These are the options to avoid a late fee, a $10 or $15 fee and mind you this is 1 day before the due date!!! I made the payment with the $10 no CSR fee. I then hung up and called back to talk to a CSR (hopefully I avoided the extra $5 fee). Their support was more than rude and not willing to remove this fee because I am "bound to it legally" straight from the mouth of the CSR.

This the part where I feel some sort of class action litigation is needed against this company. I will quote what I said in paragraph "Paypal and Paypal Buyer Credit from Ge Money are online ways of paying for products purchased ONLINE." That being said, most people if not EVERYONE pays this particular bill online. Consumers also expect it to use up to date credit processing technology where if you make your payment atleast by its due date, one should not be punished. This is the 2nd time I have recieved a fee for paying my bill EARLY using this Ge Money Paypal Buyer Credit Card! The payment site for the Paypal Buyer Credit is a lame excuse for ripping off consumers every time they go to pay their bill. If they have a system that takes 2 days to process their cards, why not make everyones due dates 2 days earlier rather than ruthlessly punishing people who pay early! Furthermore, I am not a credit card novice, I have over 5 cards already and love each of their special conveiniences. I pay ALL my bills on time if not early. This is the ONLY one that does this type of a scam for paying your bill!!! Here I am getting scammed with fees for paying early. Something just dont feel right about that!

I will be paying this balance in full in the next few days. Paypal Buyer Credit and Ge Money need a class action investigation to find out how many people are involved in this scam. I am willing to bet more than 90% of the people using it have been hit with either a 1) late fee or 2) phone or CSR proccessing fee in the first few months of owning the said card. Their system is more than designed to make you get these "fees". No honest company would set up a structure like this, and none that I use do.

Avoid Ge Money and Paypal Buyer Credit like the plauge!

Brian_phoenix
Phoenix, Arizona
U.S.A.

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This report was posted on Ripoff Report on 11/04/2007 09:11 PM and is a permanent record located here: https://www.ripoffreport.com/reports/paypal-buyer-credit-ge-money-bank/el-paso-texas-79998/paypal-buyer-credit-ge-money-bank-online-bills-due-2-days-before-due-date-look-forwa-282937. 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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#8 Consumer Suggestion

GE MONEY IS THE PROBLEM - NOT PAYPAL

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

POSTED: Monday, November 24, 2008

FILE FORMAL COMPLAINTS WITH THE FEDERAL TRADE COMMISSION AND OFFICE OF THRIFT SUPERVISION.


GEMB is deliberately processing the payments as late. That is how they pad bills. They will not fix your account unless you file the complaints with BOTH FEDERAL AGENCIES.


THOUSANDS OF COMPLAINTS about this on all the Internet Complaint Boards.

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#7 Consumer Comment

PayPal Buyer Credit Is Great

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

POSTED: Saturday, November 15, 2008

While I had a few problems with paypal due to fraudulent ebayers ,my PP buyer credit acct has been great for the past year, my bill always comes in 2 weeks before due leaving plenty of time to schedule a payment, you can make or schedule your payment up to 2pm on your due date without any late fees.
Just remember though if your due date happens to be a sun your acct will not credit until mon and you will be late, you must use due dilligance especially this day and age especially after WAMU screwed me and many others over.

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#6 Consumer Comment

PayPal Buyer Credit Is Great

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

POSTED: Saturday, November 15, 2008

While I had a few problems with paypal due to fraudulent ebayers ,my PP buyer credit acct has been great for the past year, my bill always comes in 2 weeks before due leaving plenty of time to schedule a payment, you can make or schedule your payment up to 2pm on your due date without any late fees.
Just remember though if your due date happens to be a sun your acct will not credit until mon and you will be late, you must use due dilligance especially this day and age especially after WAMU screwed me and many others over.

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#5 Consumer Comment

PayPal Buyer Credit Is Great

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

POSTED: Saturday, November 15, 2008

While I had a few problems with paypal due to fraudulent ebayers ,my PP buyer credit acct has been great for the past year, my bill always comes in 2 weeks before due leaving plenty of time to schedule a payment, you can make or schedule your payment up to 2pm on your due date without any late fees.
Just remember though if your due date happens to be a sun your acct will not credit until mon and you will be late, you must use due dilligance especially this day and age especially after WAMU screwed me and many others over.

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#4 Consumer Comment

PayPal Buyer Credit Is Great

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

POSTED: Saturday, November 15, 2008

While I had a few problems with paypal due to fraudulent ebayers ,my PP buyer credit acct has been great for the past year, my bill always comes in 2 weeks before due leaving plenty of time to schedule a payment, you can make or schedule your payment up to 2pm on your due date without any late fees.
Just remember though if your due date happens to be a sun your acct will not credit until mon and you will be late, you must use due dilligance especially this day and age especially after WAMU screwed me and many others over.

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#3 Consumer Suggestion

Buyer Credit is not a reputable option

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

POSTED: Saturday, November 15, 2008

My buyer credit account was also convenient to fund my eBay purchases. After a year without any negative actions to my account, the credit line was revoked to a maximum of $100.00 without any warning.

When I opened this account, the credit line was $100.00 or less, and this was increased every few months from an excellent payment history with buyer credit and my other credit cards.

Due to the financial problems with the housing market, GE bank is attempting to liquidate all of their risk by limiting small credit accounts. After I discovered my credit line was insufficient to pay my monthly eBay fees, I wrote the company to inform them of my intention of closing this account if my previous line of credit was not restored.

Within two weeks I received a response indicating my credit score was not worthy of an increase to my credit line through GE bank. I sent a certified letter to GE bank asking them to close my account, and the remaining balance would be paid in full within 30 days. A copy of this letter was sent to all three credit bureaus since my credit was denied, and to document a voluntary closure of this account.

My best advise to you is not to open a Buyer Credit account and avoid all the headaches associated with GE banks International. Most other credit card companies will treat you decently if you are responsible.

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#2 Consumer Suggestion

Buyer Credit is not a reputable option

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

POSTED: Saturday, November 15, 2008

My buyer credit account was also convenient to fund my eBay purchases. After a year without any negative actions to my account, the credit line was revoked to a maximum of $100.00 without any warning.

When I opened this account, the credit line was $100.00 or less, and this was increased every few months from an excellent payment history with buyer credit and my other credit cards.

Due to the financial problems with the housing market, GE bank is attempting to liquidate all of their risk by limiting small credit accounts. After I discovered my credit line was insufficient to pay my monthly eBay fees, I wrote the company to inform them of my intention of closing this account if my previous line of credit was not restored.

Within two weeks I received a response indicating my credit score was not worthy of an increase to my credit line through GE bank. I sent a certified letter to GE bank asking them to close my account, and the remaining balance would be paid in full within 30 days. A copy of this letter was sent to all three credit bureaus since my credit was denied, and to document a voluntary closure of this account.

My best advise to you is not to open a Buyer Credit account and avoid all the headaches associated with GE banks International. Most other credit card companies will treat you decently if you are responsible.

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#1 Consumer Suggestion

Buyer Credit is not a reputable option

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

POSTED: Saturday, November 15, 2008

My buyer credit account was also convenient to fund my eBay purchases. After a year without any negative actions to my account, the credit line was revoked to a maximum of $100.00 without any warning.

When I opened this account, the credit line was $100.00 or less, and this was increased every few months from an excellent payment history with buyer credit and my other credit cards.

Due to the financial problems with the housing market, GE bank is attempting to liquidate all of their risk by limiting small credit accounts. After I discovered my credit line was insufficient to pay my monthly eBay fees, I wrote the company to inform them of my intention of closing this account if my previous line of credit was not restored.

Within two weeks I received a response indicating my credit score was not worthy of an increase to my credit line through GE bank. I sent a certified letter to GE bank asking them to close my account, and the remaining balance would be paid in full within 30 days. A copy of this letter was sent to all three credit bureaus since my credit was denied, and to document a voluntary closure of this account.

My best advise to you is not to open a Buyer Credit account and avoid all the headaches associated with GE banks International. Most other credit card companies will treat you decently if you are responsible.

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