Nov 25, 2011 06:00 AM
10395 Views
This Company destroyed my life. I missed payment because 1) I went from paper statement to paperless statements, thinking I wiould get email notfications - which I never did 2) It was a card I used sometimes on ebay and I don't regularly shop on ebay so it was easy to forget if you made a $10 or $15 purchase. for something while browsing the internet.
GE Money card service ( or dis-service) won't send reminders of payments due. You are expected to login to ebay (Since it is like a store card for ebay) to check your balance. More reason to forget if you don't live on the internet and have a REAL life to live. They reported me to Credit bureau and my credit score fell from 768 to 706 i.e. 62 POINTS!!! for a missed payment of $18 ONLY!. Since I had credit score monitoring I caught this quickly - ordered a free credit report to check whats going on and found that this 1 STUPID card out of my 25+ cards has reported a late payment. MIND BLOWING how they can ruin your life with ONE MISSED PAYMENT. I called and they gave the usual canned script. I asked why they don't give the facility to have automatic deduction from bank account like all other cards do. They said well we don't have minimum payment. WELL THEN GET THAT FIXED YOU ##$%#^%#$!
And for those who don't know what a drop of 68 points in credit score can do - Your insurance premiums may go up when you renew your auto , home insurance. You will not get the best interest rates when you purchase car / house or apply for any other credit. Al this could translate to a ==loss of about $10, 000 over the 7 year period the negetive record stays on your credit history. ==
