Complaint Review: GE Capital Cons Cardco

GE Capital is the lender for my Bassett Furniture credit card. On 2/26/2002 I made a purchase ($945) which qualified for a promotional 12 months no interest. On 5/1/2002 I made a purchase (2,045.53) which qualified for 36 months no interest.

Since the receipt of my first bill in April of 2002, I have been charged various financing fees - all erroneously. Each month I must call, explain the error, and watch for a credit on my next bill.

My 3/9/2003 statement included a finance charge of $94.05 - the entire balance of deferred finance charges for my $945 purchase made on 2/26/2002 - even though that balance had been paid in full. I called, explained the situation to Anna, and was guaranteed that this would not happen again (as I am guaranteed each month when I call).

She claimed it was an allocation of payment problem that occurs whenever a card holder makes two purchases with different deferred financing terms. Apparently GE Capital does not have a computer program capable of tracking multiple purchase and finance term provisions for single accounts/cards.

This was shocking to me since I am sure only a small percentage of card holders examine their monthly bill to the extent I do. I told Anna I would report their computer inadequacies to the BBB (which I did). She said she has already credited my account so I should not have a complaint. Although my account has been corrected, I am concerned this practice has far reaching effects for many of the Bassett Furniture card holders.

Katie
Omaha, Nebraska
U.S.A.