I took out a credit card loan for a 4wheeler back in 2005 through "Funancing" also known as GE Money Bank. Here it is April of 2010 and I still owe $6000 which is only a few hundred from what i started at. Over the past 5 years I have had nothing but problems with them losing payments, saying that the payment was not put on my debit card, and they changed the due date without letting me know. Anyway, my stories with this company could write a novel but I'm here to complain about how hard it was to pay this card balance off. They were killing me with interest fees 21.99% on the balance the another 21.99% on what they call late fees. What they would do is if they say your payment is late for some reason it would show on your statement a$39.99 late charge. you can't fight with them even if you have proof that your payment was on time. Anyway they next payment i would add the late charge to my amount due to cover it. Well it was not until much later when i got married that my husband saw this. When i made a late charge payment they did not apply it to the late charge, they would just consider it as part of the regular payment. In the meantime they start a kind of "second balance" totally different from my purchase balance and that put this overdue amount of $40 in this "second balance" and charge you the same interest as the original purchase. Over the years this amount grew greatly because i was not aware of it. It was like i had two different loans with this company getting charged 21.99% on both each month and you have to specify in you payment that you want a certain amount or the whole payment to go to this "second balance" or a payment is NEVER made to it. It just GROWS & GROWS.
Ok back to trying to pay off my loan. My husband and i knew it would be years before getting this paid of by making the minimum payment plus $100 each month, which is what we did. I spoke with GE Money back in August 2009 they said we could use Visa, Mastercard or Visa Debit to payoff the balance. So my husband got a Visa Credit card at 0% interest for 12 months. We could make a huge dent is this balance in one year with no interest. The card was approved for about $1000 less than the payoff. So i continued to make payments to try to get it down to put on the card. The first part of April we finally get them to agree to $200 less and we would just pull the rest out of checking...we had to get out from this loan!!! I call on April 14, 2010 and the man tell me they do not take Visa only Mastercard and Visa Debit. You can imagine my anger. So August of last year Visa Credit was fine but not now. So on April 14, 2010 after talking with GEMoney we apply for another credit card a Mastercard this time. We got it in the mail at the end of last we and called today April 27, 2010 to pay this balance off (the MC was 0% interest for 15 month). I place the call to GE Money using the 800 number that was on my statement (which there are 3 different 800 numbers, very confusing) I was told this morning by GE that they do not take Mastercard. WHAT THE HELL I went around and around and around with them. They said all they could take was Visa Debit. I was not believing what i was hearing. I was almost speechless. I did all the normal thing, i want to talk to a manager, then the next manager but nothing. Finally I was talking to one of the employees an they had been giving me the run around that they could not tell me who i spoke with back on the 14th that said i could use the MC. I kept at her and said i know your computer will tell you that i call and who i spoke to. Well this went on forever (and i admit i was yelling) then she said something about all of there calls are recorded. I said stop right there. If all calls are recorded the my call on the 14th was recorded and she agreed but could not pull up the call. I would have to talk to customer service(which i thought i was already talking to). anyway she gave me another 800 number the person answers, i give them my account number and ask, "If i wanted to payoff my account balance what kind of credit cards could i use. ...and she said the magic words "MASTERCARD", and visa debit. I explained to her what i had been going through at the other 800 number and she was able to tell me who i spoke with before anyway. She took the MC number and gave me a confirmation number and told me to call tomorrow if i wanted to confirm the zero balance. My payoff papers will be in the mail in 5 to 10 days.
I write all of this to try to get it off of my chest. I am not a writer so i can't get accross to you how bad it has been over the years. But i will leave you with this the purchase i made was originally $6058.96 back in 2005. As of today i have paid over $11, 000 on this purchase plus the now $6000 that is owed to Mastercard. I cannot explain how wonderful it is to know i am through dealing with GE Money and all of their scams. They have many...please don't let them get you.

I had called GE Money few months back and they agreed to put me on a hardship @200 month and lower interest. Butt he catch was you have to be up to date. So I'm up to date. Now they say OH youhave to be past 90 days to qualify. LIES LIES LIES! Then I see a purchase on my statement. I ask what is this. Oh that is late fees etc.. I said ok why are you charging me 26.99% for that. They said oh your payment goes most to your interest so this balance is carried over. I said WHAT in God's name are you doing that for? They said OH you have to call and tell us to pay that on your next payment or it carries over. MAN would somebody PLEASE join in and lets get an attorny to try and get a class action suit for falsely leading the public. How was I suppose to know this! I mean it these people need to be stopped some how. Any takers want to help research?