GM Card: unfair credit charges: city of Industry, Ca
Beware of over-limit fees and late charges plus hight interest rates in a GM Card.
As a college student in 92' I signed up for a card with a $1000.00 limit. I maxed it out and never used it again.
I was making payments but fell behind when had to quit my job and spend time with my mother who had breast cancer.
I again caught up with payments and was always behind because late charges were more than my required minimum payment. I then started to get tagged for over-limit fees which were listed as purchases.
These were not purchases, these were over-limit fees that were caused by late charges and listed as me purchasing something. Can you see the sick cycle?
They would tell me that my account was closed and sent over to a collection agency who would harrass me and send me bills but GM Card would send me bills as well, so I had two bills coming to me.
They said they did not have the records to verify payments that I had made and they would not put a settlement agreement in writing.
I have made payments to them totaling well over $2,500.00 and they are after me to pay $4,700.00 in penalties, late charges, and over-limit fees plus court cost by household bank.
Thier attorney admitted to me on the phone that GM Card was the most brutal in fee charging and collecting fees.
How do you think they are able to offer 0 down / 0 interest on thier cars? Because they suck it out of college students and excessive late fees. Do not sign up for a GM Card!
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