Complaint / Review
Robert Drake
Promotional Finance agreement with GE Money expired and a $1,550 balance jumped to $1,997 in 16 days

I have had a promotional loan with GE Money for the purchase of a piece of furniture. Last month the balance on the purchase was $1,550.00 with a minimum payment of $0. This month I received a statement that the promotion had expired and a finance charge of $447.18 has been attached and the minimum payment is $60. The annual percentage rate is 21.980%.
GE will not accept payment of the original amount of $1,550 and satisfy the debt which is only 16 days past due.