Same As Cashers BEWARE! I recently ordered a sectional sofa with a very expensive but reputable furniture company and when it came to the "how to pay" part of the deal was offered the "6-months same as cash" option. Although I had the money to pay it in full I thought "why not?" I've utilized this payment option in the past with no problems.
In December I received a statement from GE Capital Cons Cardco confirming the balance with a description "Same As Cash" and a due date of 06/21. Knowing that I had plenty of time to make payment on it, I placed the statement aside and thought little more of it. Well, starting in late January I noticed I was getting NUMEROUS calls (I have caller-ID) from "Unknown Caller" which is usually an indication of someone wanting to sell me something... Some calls as early as 8:00am. Well, wanting to put an end to this "Unknown Caller" bit I answered my phone this morning (Sunday 8:30am!) to be informed by GE CAPITAL that I was a payment BEHIND!!! WHAT??!!
What happened to the 6-months same as CASH???!!! Nope - a "minimum payment" is still required... Oh and of course if you don't make the min payment there are late fees and finance charges on the unpaid min payment! I was not only shocked but infuriated that I clearly had been duped! This was NOTHING like the "Same As Cash" option I'd utilized in the past!
WHAT A SCAM! And I fell hook, line and sinker! Those of you buying into the Same as Cash option, BEWARE! And if it's offered through GE CAPITAL... AVOID THEM LIKE THE PLAGUE!!! Hidden fees and harassment over a min payment of $120.00 is not only OUTRAGEOUS but extremely unprofessional!
In closing, payment for the ENTIRE BALANCE in full is on its way to GE CAPITAL along with a notice to CLOSE MY ACCOUNT and a complaint will be filed with the Better Business Bureau! Additionally I will be writing the furniture company to tell them that their affiliation with GE CAPITAL has tarnished their image with me, and that they should strongly reconsider who they use as their financier. Shame!!
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