GM Gold Card Is a Golden Let Down!
Written: Apr 09 '00 (Updated Oct 15 '00)
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Product Rating:
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Pros: Dollars earned towards car purchases
Cons: rotten customer service, they try selling you things you don't need before you even have your problems with them fixed
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| Magick1's Full Review: General Motors MasterCard (Household Bank) |
My husband and I had an account through GM, which we have had for years.
We've never sent them our payments late, had any returned checks, or given them any problems whatsoever.
Recently, we get a letter from them stating that because we haven't used the account the way that they deemed appropriate, they were going to increase our interest rate from a fixed 11.9% up to a 23.9%.
We tried contacting their unfriendly customer service line, waited about 10 minutes to get through to an operator to figure out what in the world was going on.
Not only did the representative not assist us, other than by saying "your letter tells you exactly why we're increasing your rate".
We again clarified that we've never had late payments, never bounced any checks, never gone over our "limit" on the card, or created any of the little problems that Household credit stated violated our agreement with them.
Anyway, the operator went so far as to ask us if we wanted to purchase a dang service for like $49/quarter so that we could retrieve copies of our credit bureaus from the major reporting agencies so that we can watch what our credit rating is doing.
We know exactly what it's doing, as we have spotless credit, and have strived to consistently make sure nothing EVER blemishes that for any reason.
Again, keep in mind, we've had a payment history with Household services for about 10 years. We've never had anything other than the lowest interest rate that they provided. When the rates went down, we called them to get even lower rates, and the continually would give them to us, just because we were excellent clients.
Needless to say, we found another company that was able to provide us instantaneous credit to move the small balance we carried over to them, and we immediately closed out Household services.
We will never, ever do business with them again, unless they are the only bank in town. (And, the saddest part of this, is we forfeited rebate dollars that we had been accumulating to purchase our next vehicle. We had used the rebate dollars twice before, and were possibly going to use them again in a few years. If that doesn't tell you how mad they made me, then I won't be able to get it across to you.)
If you want to save yourself some headaches, try straying away from them. If they will jack up my rate over 10 points because I pay my bills on time, who knows what they will do to you when you get there.
Thank you for spending time with me today!
Recommended:
No
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