request that GE Money reduce their rates in line with the BoE base and NOT raise them.
We, the undersigned, petition the Prime Minister to request that GE Money reduce their rates in line with the BoE base and NOT raise them.
In December GE Money increased their interest rate by 1.95% to 13.15% despite cuts of 2% at the same time on the UK base rate. Their explanation was that they are not a UK bank citing that their base rate, the "GE base rate", was being raised. However, although they are selling financial products in the UK market, they do not clearly explain that their understanding of the base rate (their own base rate) is entirely at odds to the general population’s understanding of the base rate, that being the UK base rate. This is clearly a manipulation of a commonly understood term. The terms used by GE mis-lead the public and should be challenged at the highest level. A request should be made that they follow the UK base rate or make it clear in the same size type as their interest rates or product offering that they do not follow UK base rates but have an their own ‘base rate’ set by GE for GE
This petition closed on Wednesday 6 January 2010 without having attracted any support at all. The creator was left in a minority of one. Here’s your chance to comment on this petition.