Skip to comments.GE Credit: A 'mickey mouse' company?
Posted on 07/28/2014 1:17:47 AM PDT by topher
I have a credit card issued by GE credit.
I have some problems because of the Mickey Mouse nature of this credit card (by GE credit).
One of the several reasons for calling GE Credit a 'Mickey Mouse' outfit is the password on my account. There are so many restrictions of what you can use and the length of the password, that it makes one account vulnerable... Since GE was founded by a Robber Baron maybe it is easier to 'rob from people's accounts directly. After all, why not honor the legacy of J.P. Morgan...
I did complain to my congressman about some of the problems, and there was one change I noticed.
This GE Credit card (Walmart Credit Card) has the following problem: if you post a payment over the Internet, say for July 28, 2014, then it takes a few days before the amount is deducted from your checking account.
Apparently, GE Computers are Soooo, Sooo slow that it takes 2 to 3 days to deduct the amount from your banking account. In the meantime, GE Credit is charging you interest.
To understand this, you must understand that the ROBBER BARON J.P. Morgan was one of the founders of G.E.. The other was Anthony Drexel. At lease in the case of Anthony Drexel, his daughter Katharine Drexel used her share of the fortune to build schools for Native Americans and for blacks.
The purpose of G.E. was to promote the work of Thomas Alva Edison. Mr. Edison was very leary of these two men, and I have read in places that it was like teaming with the devil. Maybe that is going too far.
Another problem with this credit card is that it automatically sets your payment date as the date that your payment is due.
All credit cards that I have used will set the date as today's date.
Not G.E. Credit in the case of the Walmart Card. It sets the date to the date the payment is due. Again, the reason is so that GE Credit can charge more interest on the account.
Who are the ones that get the short end of the stick? I think most would be the working poor.
I think JP Morgan would be proud of what GE Credit is doing with the Walmart Credit Card.
But then GE has announced that it is purging GE Credit from its businesses!!! Why? GE wants to focus on Industrial businesses: their jet engines, light bulb business, and now oil/natural gas.
I guess the The ghost of JP Morgan will be competing with The ghost of John D. Rockefeller. I think that is appropriate in some respect.
The fact that GE was more interested in 'soaking' the US Government and the US Navy, I guess I have forgiven.
I don't why, but after I left, that part of GE went to Lockheed Martin.
I felt we did the impossible with the AN/SQQ-89 project.
To my knowledge, it was the first project to integrate computers and fiber optics (how do you spell 'I-n-t-e-r-n-e-t'). Some small company did something with that (AT&T and Baby Bells), but I consider it apples-oranges.
AT&T was for telephones and routing. What a defense system that can use sensory data processed by computers in conjunction with combat computers can do -- that is much more complicated than routing a telephone call from Missouri to Alaska.
I have some pride in what I was able to accomplish at GE.
I have problems with the sloppiness of the work that went on -- well from some respect (security matters).
In terms of the sloppiness at GE, it is something that must be left unsaid because this was a Defense project.
General Electric was founded as The Edison Electric Co. by Thomas A. Edison. He was no “robber baron” but a hard working self made inventor of a myriad of useful items including the incandescent light bulb (which the manure eaters in Congress want to outlaw)
The GE of today is an international products company and barely American in nature any longer
As a further aside John Pierpont Morgan was not a robber baron but the greatest financier of the 19th century. He personally intervened to save the US banking system from severe money crises caused by speculators the mast being in about 1906
Those who called him a robber baron were communists who hid under the label of “progressive” and sought and still do try to take down our republic
I’m surprised anyone on this site carries a balance on their credit cards (i.e., spends more than they make). Never done that myself, so I don’t know what my card would do.
Did they force you to use it?
Don't like the terms and conditions of the credit card that you choose to use??? Try this and stop whining..
I’ve no idea what this thread is about or the point of this post, but dittos on the stature of this great man. As patriotic as Morris and Hancock from the financier standpoint, he saved the government from itself, not to mention he financed Edison over and over again.
The beauty of capitalism is that you may cancel your credit card, transfer the balance, and get another one.
No one is forcing you to keep the GE capital card.
You need to do some research on Edison. He was hard working—but he was an industrial scale inventor. Not quite the roll up your sleeves guy he is portrayed to have been.
Later on, yes when he was doing work in cinema, but the telephone, incandescent lights, and enhancements to telegraph technology all came from his hard work and fertile brain.
Speculators do not cause "money crises". Governments do. The Teddy Roosevelt administration created a huge stock market bubble by inflating the money supply. In 1907 it popped, as they always do.
I have made it a policy, that if the card that I have for a reatailer is issued by GE Capital, I won’t apply for it or close the account. It used to be a benefit to have your card sset up to pay the outstanding balance on the due date. It was great: I buy stuff, charge it to the retailers credit card, the due date would arrive, the money would come directly out of my account. I was never late for about 10 years. Then all of the sudden I got a letter saying that I was late on a card (Lowe’s). I called them and they informed that the auto pay was no longer an option. I paid off the balance on the phone and cancelled the card. I have found out that Home Depot, JC Jenneys, Lowe’s, Ashley Furniture, Floor Traders, Cabinets to Go were all issued by GE Capital. This pissed my off, because I love that 12 months same as cash deal.
I just purchased a Lazy Boy chair at a local furniture store and they gave 12 months with no interest, which I took. Sat I received a credit card from, you guessed it, so it looks like the account is through GE Capital. Based on what I’m reading here I decided when I get the bill I’m going to just pay it off and trash the card.(I haven’t activated it yet, and won’t)
I don’t use credit cards except when required and don’t keep a balance on any but the free of interest sounded ok at the time.