GE Capital Consumer Cardco
Best Buy Card Hit With $300 Deferred Interest After Promotion Ended

I wish I would have stumbled on this website 2 years ago. I purchased a computer from Best Buy in 2001. Being a broke college student I couldn't pay for it with cash, so they told me to put it on a Best Buy Credit Card. Little did I know that the company handling their credit card was none other than the notorious GE Capital Consumer Cardco.

The salesperson at Best Buy failed to inform me that I was purchasing the computer on a promotion which meant I didn't have to pay any interest for 1 year. My monthly payments were about $10 and that was perfect for my wallet at the time.

As soon as the first year was up (In January) I received a letter from Best Buy saying they were cutting all ties with GE Capital Consumer Cardco but all accounts with them would still need to be paid. Then, if I wanted to continue to have an account with Best Buy, I would have to reapply for a new card through the new company they were dealing with. I just had the card cut off completely.

A few weeks after that, I received a statement from GE Capital Consumer Cardco and they had added a little over $300 to my account! When I called to inquire about it they said it was all the interest that had not been paid that previous year. I told them that I didn't even know the computer was on promotion and I thought the interest was included in that $10 minimum payment. I got NO help from them and when I asked them to mail to me my original contract they said they would, but it is Dec. 2003 and I still have not received it. So, for a computer that cost me $1200 I now owe a little over $2000. They always find a way to tack on a late fee or finance charge. It is soooo totally ridiculous.

I am trying hard to get this thing out of my hair. Any ideas? All this just can't be legal! Is it??

Company: GE Capital Consumer Cardco
Country: USA
State: Kentucky
City: Louisville
Address: PO Box 9001557

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