In September I purchased a bed from Select Comfort in Southern California. I purchased the bed via their 2 years same as cash promotion. The bed was financed through GE MONEY.
My minimum payment is $177.50 a month. I set up an auto payment plan through my banks online banking center of $100.00 every other week (or $200.00 a month). The problem with that is GE MONEY only has a 22 day window you can make your payment each month. If you make a partial payment after the due date and prior to the statement date your payment is applied to the previous month.
In my case my due date is the 8th of every month. My statement date is the 16th of every month. If one of my two payments fall between the 9th and the 16th of the month that payment is applied to previous month and only $100.00 dollars is applied to the current month. That gets me a $35.00 late fee a $2.00 BS fee.
This is part my fault because I set the payment and failed to regularly review my statements. So if you do the math this would get you a fee about4 times (or4 months) a year. Anything to screw over the consumer. Thanks GE MONEY
0 comments