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  1. #1
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    Default Do all GE Money Bank credit cards suck?!

    Have you seen the GE Money Bank credit card application for Wal-Mart? The terms suck BIG TIME! Are all their cards like this?

    A list of GE Money Bank credit cards is not listed on the website and the only others I can think of off the top of my head Belk, Sams Club and Lowes and I know those suck too.
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    Centurion Member Mogul of Pineapples's Avatar
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    I have never had a credit card from GE Money bank so I can't speak from personal experiences but I did hear a lot of complaints about them back during the recession- cutting credit limits, poor customer service and the like. Maybe they have shaped up since then.

    When you read negative credit card reviews by a customer you should take them with a grain of salt. All you are hearing is that customer's story and if they weren't being responsible with the account you can't blame GE Money bank for raising a rate.
    Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

    Current Cards:
    American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
    Primary Everyday Card: American Express Blue Cash
    Primary Travel Card: Chase Sapphire Preferred
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  3. #3
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    I don't have a credit card from GE Money bank but my GF does. I will be the first to admit she has screwed up her credit and is to blame for being where she is at today but even with that said I think the customer service is majorly lacking with her card for Ultra Diamonds. There is no specific incident but it seems like there are always problems with payment processing and unexpected fees I hear her complaining about. I could be hearing one side of the story because my GF is not always upfront about her role in a problem.
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    Quote Originally Posted by munsterman View Post
    Have you seen the GE Money Bank credit card application for Wal-Mart? The terms suck BIG TIME! Are all their cards like this?

    A list of GE Money Bank credit cards is not listed on the website and the only others I can think of off the top of my head Belk, Sams Club and Lowes and I know those suck too.
    I have the Lowe's project card (opened June, 2009) I like it because it has a 6-month window to complete your purchases for a determined project and you are not being charged interest during that time. Interest start to accrue after the six months.
    Never had a problem with them, nor even the need to call CS. Credit line was enough for me needs and APR after the six-month window is 17.99 if you don'rt PIF.
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  5. #5
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    I've got two lines through GE Money Bank, my Amazon credit line as well as my Paypal credit line. I've never had an issue with either, but the APRs are absolutely uncalled for (25.99% on one, 26.99% on the other). Luckily the Amazon one is only used for 6 or 12 month no interest promotions for furniture and such, and the Paypal one is only used for small purchases under $50 and is always paid in full. I can tell you right now, though, that I'd never open a card that I'd want to use on a frequent basis with them if this is the APR they're throwing around...
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  6. #6
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    Default My GE Money Bank review

    I have the old navy card from GE Money Bank. I also have two other cards, both chase, freedom and slate. I got the store card for old navy (also gap, banana rep etc) and figured I could earn points for clothes and let a few interest charges add up for my credit history and not pay it off right away and close the card. Great idea right? I hate this card.

    The first payment that was due I paid online and they gave me a confirmation page that it was accepted, then sent an email that it was accepted. They never sent me any other information that something went wrong. Then my next statement arrived and the same day they started calling me twice an hour.

    I looked at the statement and they had my money, but they gave it back??? So I called the number that was calling me non stop and they said yes they accepted the money and yes they debited it back to me. Ok why? We can't tell you.

    Ok, so basically I have no reason to ever pay online again since I have had a 100% failure rate doing so and I buy things and pay things online so often that I HAVEN'T OWNED A SINGLE CHECK IN 3 YEARS... And nobody EVER gave me a confirmation screen and then it failed.. I either had to resubmit my information because of an error, or it worked. No in-betweens.

    So the guy deducts the $25 late fee from my bill since he can see that I did attempt to pay on time and he can't tell me what went wrong so I don't make the same mistake in the future.... In other words, he didn't fix the underlying problem.

    I told him to take a payment over the phone and I would try to pay my next statement online weeeeeeks in advance so we could have more time to sort it out and I wouldn't be late if the same thing happened, even though I've never had to do this for any other card and to date have never had a single late payment with anyone except GE. And he says sure, that will be $15, do you agree to pay a $15 fee for paying over the phone? I said sure, and then I'm going to start shopping for new credit cards that aren't GE money bank. He was very sorry to hear that.... Well, so long as his script says he's sorry I guess it's all ok.

    With chase I can walk down to their nearest branch and get a real person to talk to in their cubicle. I'll stick with them.

    As it is, the only other time I ever dealt with GE money bank was when I applied for credit on a motorcycle. They quoted me a 60 month $162/mo loan on a $4400 base priced used motorcycle... Thats' like 9700 bucks total loan for a bike that costs about 5300 after tax title tag etc etc. I told the motorcycle shop that motorcycle ownership was not for me and went to another shop and paid cash for a cheaper bike. The quote they gave me came from GE moneybank.

    When I got the GE moneybank card, part of my reason was to get more credit history on account of the rate they offered me being so asinine. After I got the card I received a letter of "Adverse Action" that stated that GE moneybank offered me a loan that I did not accept. I don't know what an adverse action does to your credit rate but I think I should have the right to turn down a horrible loan... So in the few short months I've had anything to do with them I had a letter mailed to me about "Adverse Action" and not I have a late pay on my record. So much for trying to get better credit.

    My advice: Stay away from them. I got a chase card based on my income and having a bank account with them that I never overdrafted. After a year I got another card. They raised my credit limit on one of them as well. You can get into a good card with NO CREDIT as long as you aren't broke. Don't mess with GE. Go chase or get into a credit union. If you can't do that? Use cash.

    In the end I have $60 in store cash I can use for old navy, and a late pay on my history. Is it worth that for 1 and a half shirts?
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  7. #7
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    I haven't had a problem with them, I had a 12-month Financing card from Sony serviced by them, and I have both a JCP and Sam's card from them. They aren't exactly the 'best," I stopped using them because of their reluctance to work with Mint.com, where I have all my accounts aggregated. I made all my payements on time and never had to pay any of those ridiculous rates, so in my experience, if you follow by the rules, they are just fine, if not, your in deep water. But after all, thats where they make their money, there is a reason they back the Walmart card.
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    I have Lowes and i take advantage of 18 Months no payments all the time. I was also refunded interested charged after the end of a promotion and had the promotion extended after it expired. They also recommend that i ask the store manager for extensions next time i shop and it worked. I can say that i have no issue with GE Bank and will continue to use it.

    This also apply to my Sears card by Citi.
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  9. #9
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    Quote Originally Posted by ooxs View Post
    I have Lowes and i take advantage of 18 Months no payments all the time.
    My friend has one and likes it too. Just make sure you're getting a good deal in the first place :-)
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  10. #10
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    Quote Originally Posted by DavidNY View Post
    My friend has one and likes it too. Just make sure you're getting a good deal in the first place :-)
    Dave, i totally agree. I will shop around for pricing, get a 10% off coupon and if they have an Open item, i am sold. But the key is not to forget the promotional end date.

    Make sure you triple check your statement, if they code your promotion wrong, call them immediately to fix the issue and remember names. The card or bank itself is just like any other bank, in the business to make money and willing to lend it to you.
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