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GE Money Bank Complaint - Removed Credit Limit Because I Made A Payment - Wal-Mart Credit Card
Wal-Mart Credit Card - Complaint
EL PASO, TEXAS -- I am outraged and disgusted with GE Money Bank. My husband and I have had a Wal-Mart credit for 9 years. During that time we never went over our limit, and NEVER made a late payment. Now with every payment we make they are REMOVING our credit balance. I'm furious as we should have splendid credit with this company, they have slowly removed all of our credit balance which should exceed $1k.
What a disgusting way to treat your consumers. Way to go GE Money Bank to help companies lose customers.
Their reasoning for docking our credit limit is based on our dealings with another company, at the risk of sounding like a child that's NOT fair, considering "other companies" pertain to late medical bills, face it, my family is NOT the only one to be struggling with past due medical bills. However, it's not GE Money Bank's place OR purpose to base their dealings with us on THIS!
To say I'm pissed is an understatement.
What a disgusting way to treat your consumers. Way to go GE Money Bank to help companies lose customers.
Their reasoning for docking our credit limit is based on our dealings with another company, at the risk of sounding like a child that's NOT fair, considering "other companies" pertain to late medical bills, face it, my family is NOT the only one to be struggling with past due medical bills. However, it's not GE Money Bank's place OR purpose to base their dealings with us on THIS!
To say I'm pissed is an understatement.
Comments:
Posted by skelly39 on 2009-11-09:
Hate to tell you, but as of now, creditors have the right to use anything on your credit report to reduce your available limit, raise your rates, or close your account. It may not be fair, but it's legal. Keep paying it down and close it. I'm aiming for a debt-free life (ha!). Wouldn't it be nice not to have these problems?
Posted by RoseRedNeckWitch on 2009-11-09:
I can safely say they can put this card where the sun don't shine. We have been role model customers with this card. It's 1 of 2 that we have. I can also safely say it's $280, a reasonable amount that they can also shove in their "hat".
Posted by karleebarlee on 2009-11-09:
it may not be fair, but a company will check your credit score to decide whether or not to give you credit. your credit score is based on your dealings with other companies. that's how it works.
Posted by RoseRedNeckWitch on 2009-11-09:
I still say it's a crock.
Posted by JR in Orlando on 2009-11-09:
If your neighbor came to you for a loan and you knew he was behind on his payments to creditors, losing his house to foreclosure, and having difficulty paying his bills, would you loan him any substantial amount of money? Even if, on other occassions before, he had paid back money you loaned him. Wouldn't you be afraid that no matter how much he wanted to pay you back, that if you loaned him money he might not financial be able to do so?
That's the position of credit card companies when people who have their cards run into difficulty paying their bills, any bills. Regardless of your past history, it raises the fear you will not be able to pay off the card in the future, no matter how much you want to.
That's the position of credit card companies when people who have their cards run into difficulty paying their bills, any bills. Regardless of your past history, it raises the fear you will not be able to pay off the card in the future, no matter how much you want to.
Posted by zzrokk on 2009-11-09:
This practice has a specific name that I can't recall but it is perfectly legal.
Too bad that the 5 starred member that is supposed to be a credit guru can't leave the forum side to chime in on this thread. Go figure.
Too bad that the 5 starred member that is supposed to be a credit guru can't leave the forum side to chime in on this thread. Go figure.
Posted by DebtorBasher on 2009-11-09:
Did someone call for me?
Posted by laklisa on 2009-11-09:
Ah, I'm not a fan Of GE Money bank either. They also handle Belk credit cards and they lowered my limit awhile back too. I don't care about that-it helped me! Other banks are doing the same thing as well.
Posted by zzrokk on 2009-11-09:
DB we are waiting............
Posted by DebtorBasher on 2009-11-09:
I hate to say it, but yes they can do this. Your current credit card companies can pull your credit report for review and make adjustments based on what they find on your report. I found this out after one of my credit card companies raised my rates and stated after they reviewed my credit report, I was considered "High Risk". Why? Not because I had a perfect payment history with them and all of my other creditors (Never late, never missed any payments, paid as agreed)...but because I have opened other credit cards SINCE they approved my credit with them. Yet, I was still paying everything on time. Needless to say, I transfered my balance from that card over to another card and closed them out for doing that to me.
How was that ZZ? I'm waiting for my 'helpful advice' notification... *Arms crossed, foot tapping*
How was that ZZ? I'm waiting for my 'helpful advice' notification... *Arms crossed, foot tapping*
Posted by zzrokk on 2009-11-09:
Nice DB, now if we can just get you to stay over here and TRY to help people, the world will be a better place....This site will at least.
Posted by DebtorBasher on 2009-11-09:
Actually, I am planning on spending more time on the reviews....I can't get 'star power' on the community boards!
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