What are some common GE Capital bank scams?


Quick Answer

There are many accusations of GE Capital Bank participating in scams against individuals, including claims of approving loans without intent to deliver them and charging money for services not rendered. In 1997, a lawsuit was filed accusing GE Capital of unfair debt collection.

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Full Answer

GE Capital, also known as GE Money Bank and Synchrony Financial, has 4649 complaints filed against it with the Better Business Bureau, as of 2015. Of these, 2966 are billing and collection issues and 1529 are complaints against the service. Other complaints range from advertising and sales issues to delivery issues.

Between 2011 and 2015, 110 consumer complaints were lodged with Scambook against GE Capital. Many people accuse the company of making false promises, charging inappropriate fees, losing pertinent information and handling concerns by hanging up on the customer or muffling the phone connection.

Consumer Affairs reports that of the 96 consumer ratings they've received regarding GE Capital, 85 people award only one star to the company and eight people award two stars. Many of the 1,351 complaints received pertain to delayed access to funds, fees incurred to speak with a customer service representatives who doesn't communicate in English, not accounting for payments made and inaccurate credit reports.

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