GE Capital Cons Cardco has no grace period. Your payment is due by 5 PM on the due date. Due to this policy, one of my payments was three days late due to mail service and I was charged a late fee.
When I called GE Capital, I was told that there was no grace period and that they had no control of the mail. I do not have control of the mail, either! I was charged a $29.00 late fee. I also asked about the interest rate I was charged and was told that they charged 14.5 percent plus prime.
I told the lady that the prime interest rate was 4% and 4 14.5 was 18.5%. She then told me that they were an international company and could set interest rates "as needed."
I never could get her to explain "as needed." She said it was decided by the finance department. GE Capital pretty much does whatever it wants without worry or posible consequences.
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