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Originally Posted by Trish  I just got a notice in the mail the other day GEMB did an "account review" on me and my husband (we have a Care Credit account together).....
"Dear Trish and hubs,
Based on our most recent review of your credit information, your Care Credit/GEMB account has been closed. GE Money Bank periodically reviews accounts based on its existing credit policies and standards and information provided by credit reporting agencies as permitted by the Fair Credit Reporting Act. This account closure will appear as, Credit Line Closed - Closed by Credit Grantor, on your Credit Report."
Now I went looking around on CB and found that others are having the same issue........apparently GEMB has adopted a new policy regarding Credit Report inquires. So if you have what they consider excessive inquiries on your CR (for us it was equifax), they are closing the account. That they are reviewing all New AND Current accounts with GEMB (That's every card they back, From Wal-Mart to Care Credit) and are closing any account that does not meet their new Inquiry Standards. So I'm betting this is going to affect a lot of people.
It also said at the bottom of my letter that it would report as "closed by credit grantor". But one person on CB was able to contact GEMB and have them change it to "closed by consumer". At least that looks a little better.
I'm beyond pissed though.
I have 2 Care Credit accounts (well now just one.....grrrr), Old Navy and Chevron (all by GEMB)
I'm going to go postal if they try and close all of my accounts.
Also for anyone reading this......if they pull EQ on you.......go and dispute your inquiries. You can even do it online. I tried it a couple of weeks ago (I did not have any pending disputes) and they deleted EVERY SINGLE ONE that I disputed. |
I believe its time we storm corp headquarters with pitchforks and ropes.Its time to toss the rascals.Viva la revolution!!!!!!!!