GE Capital Credit Card Changed Names but Not Practices

Credits Cards

The GE Capital credit card got a new name in 2014, and it’s probably for the best. The company, which is now known as Synchrony Bank, engaged in some illegal business practices that cost the company a staggering $225 million in refunds due to cardholders. Since then, the GE Capital credit card’s reputation has gone downhill, though it seems the name change has caused people to forget that their card company wasn’t entirely honest. Or else customers are familiar with the fact that the company was once GE Capital. While the bank was issued the need to refund customers millions, the reasons vary. Some customers received compensation after being denied the ability to participate in debt relief programs because they lived in Puerto Rico and others were refunded because they told customers their add-on programs were no charge and then charged them anyway. The bank also made it a habit to add fake fees onto several customer accounts to make more money. It’s been a bad year for the bank, but their new name is apparently a new start. So that leaves the question; do you want a GE Capital credit card? Let cardholders tell you if the new name makes much of a difference.

Terrible Customer Service

If there is one thing cardholders agree on, it’s the fact that this card comes complete with awful customer service. Many cardholders complain that their customer service reps are not only unhelpful, they’re actually rude and inappropriate on the phone.

High Interest Rates

While the interest rates vary from card to card – there are many issued by this bank – the general consensus is that this is a bank that offers very high interest rates that are not worth the hassle that comes along with poor customer service and the effort to maintain a good credit rating.

Low Credit Limits

GE Capital, now Synchrony Bank, is the issuing bank for a number of famous store credit cards. However, they are also famous for offering low credit limits and making it difficult for customers to raise their limits even though their account is, and always has been, in good standing with the bank.

Photo by Wathiq Khuzaie /Getty Images


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