Complaint Review: GE Capital Cons Cardco

In speaking with a GE Capital Cons Cardco agent concerning payment methods, they responded by saying that they do not accept electronic payments from bank accounts. With this said, the only other options for account repayment is by check or money order, via U.S. mail or another carrier service.

The agent claimed that they post payments received within 24 hours to the account in question. They also recommend giving 7-10 business days for a payment to be delivered via the U.S. Postal Service. In the past, I have sent in payments via the U.S. Postal Service giving the 7-10 business day leeway that they recommend. However, in an almost pattern-like scenario, my payments post 1 or 2 days after the due date, thus receiving a late charge.

It is hard to believe that it takes a letter 7-10 business days to travel from Columbus, OH to Louisville, KY (a 6 hour drive by car) via the U.S. Mail. My hypothesis is that the credit card company is not posting the payment to my account when they actually receive it, but waiting a few days until the due date has past, so that they can charge the late fees. They're able to do this by placing blame on the U.S.P.S. for their slow mail service.

The U.S.P.S. states on their website:

"First-Class Mail is generally delivered overnight to locally designated cities and within 2 days to locally designated states. Delivery by the third day can be expected for remaining outlying areas."

It is hard for me to believe that the U.S.P.S. actually takes 7-10 business days to deliver a letter that is only a state away. I believe that GE Capital Cons Cardco is using this 7-10 day recommendation as a buffer to charge customers unjustified late fees at their discretion.

Furthermore, if they were to adopt electronic payments from bank accounts, this would allow for instant money transfers to occur, doing away with this 7-10 day recommendation.

Over the past 1.5 years, I would estimate that I have paid $150-$200 in late fees, many of which were charged after receving the payment 1-2 days after the payment due date.