Jenifer
Portland,#2Consumer Suggestion
Fri, March 27, 2009
GE Money Bank cut my limit down to $100 on one of my cards too---I received notice after the fact. It was a WalMart card---I know it isn't Walmart's fault (and my credit is better now than it was when I got the card!!), but as soon as my balance is paid on the card, I am cutting it up and calling them and telling them to cancel...I would rather give my cash to a store than let GE Money Bank pocket my interest...
Laurie
Haslet,#3Consumer Comment
Fri, March 27, 2009
AND THEIR inability to properly manage their financial division If you had read the hundreds previous postings most of this took place JUST BEFORE CHRISTMAS and they started with all dept store credit cards. Like it or not - you are better off without them - they mismanage accounts so badly and then never correct mistakes they make. If you had a 0% interest account for 12 months - they will delay processing your last payment until after the due date - so they can add interest and late fees. Then they hit you with 12 months interest. Even when you can prove they were paid by your bank before the due date - they just claim you never sent them. The reason why so many dept stores had such terrible Christmas sales was because GEMB cut everyones limit to $100. Those who planned on using those cards for Christmas shopping - went to other stores instead. Mistakenly boycotting the store because GEMB cut their limits.