Complaint Review: GE Capital Retail Bank - Grand Rapids Nationwide

I'm here to let others know about my experience with GE. You're here to stir a pot to try to upset people. Being an Internet troll myself, I know the tactics involved and will not succumb to your taunts and belittling. Please use this service in the manner of which it was intended.

My motorcycle is not financed through a store credit card. You don't need to know how many times I was late. That's not relevant. 

Please find another post to pick apart. I will, however, keep responding to your posts to entertain you and bring some delight to your day. Please feel free to copy and paste in bold any portion of this and rebut.

It's either denial or you are just posting an entirely bogus report.  If it is the former then you have some very interesting misconceptions.

I know it's my fault for paying a couple of days late a few times and I have a good understanding of credit.
- You were at least 10 days late to have to pay the late payment fee.  If that is your idea of a couple, what is your meaning of being late a "few" times?

GE doesn't lend to high-risk customers if that tells you anything.
- Actually their primary business is "Store" or "Private Label" cards and are for people that can not get credit or loans through other more mainstream means.  They are very often the first credit card for people just starting out, or one that is for people who have had issues in the past.

Basically, I don't like how their customer service treats their customers that give them thousands upon thousands of dollars.
- Remember that they initially gave you thousands of dollars to be able to purchase the bike.

I've now taken to being extremely rude and ruining the day of the customer service rep on the phone.
- Here is a shock for you you aren't ruining their day, they get paid no matter what.  Perhaps you can think about the relation between how you treat them on the phone and how they treat you.

I know it's my fault for paying a couple of days late a few times and I have a good understanding of credit. GE doesn't lend to high-risk customers if that tells you anything. Basically, I don't like how their customer service treats their customers that give them thousands upon thousands of dollars. I've now taken to being extremely rude and ruining the day of the customer service rep on the phone. They have a no-hang-up policy and I use that to my advantage to make myself feel better about being tacked to the wall with this godawful conglomerate.

I don't complain about being on a fixed income or spending more than I make. I work hard for what I have and I wish they would understand that instead of feeing the crap out of "valued" customers.

Thanks for the constructive criticism, though. Your words are appreciated.

You need to understand how credit works.

There is no such thing as a "grace period" that you are thinking of.  You have a due date, and if you pay even one day after that you are late.  Now, they will give you a few days, in your case 10, before they assess a late payment penalty.  But that does not change the fact that if you pay after your due date you are still late.

You are charged additional interest for every day you are late.  Just like the late fees this additional interest is added to your principal and yes..can then accrue additional interest.   If you made it a habit of being late, especially more than 10 days.  This amount can add up very quickly and it is possible to have several months of payments added back on. 

One other thing you did not clarify is how they applied the extra amount.  If your monthly payment was $233 and you paid $33 extra one month.  If the next month they said you only owed $200 and instead of paying $233 you paid only the $200 then yes you will have additional interest as well.   What you should have done is continue to pay your normal amount..regardless of if they said you "could" pay less.