GE Money Bank
Deferred finance charge would bill 78% interest on remaining balance

I purchased a Yamaha flute on a deferred finance charge plan. After they sent back payments and created problems for me along the way, I now find out that at the expiration of the deferred finance charge period, they intend to bill me the full amount of finance charge I would have paid if I had never made any payments at all. In other words, I am worse off than if I had never made any payments-it adds up to a 78% interest rate on my remaining balance. When I called them in shock, a snotty CSA told me to look up the word "deferred" in the dictionary. But I have read through everything I signed, and I don't see any reference to the idea that I will be billed the entire finance charge on the original balance on any date. This was a deceptive offer and I am being stolen from.

Company: GE Money Bank
Country: USA
Site: geonlineservice.com

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