KENSINGTON, MARYLAND -- My practice is a Target of an account review by CareCredit for over three months. CareCredit refused to disclose anything regarding the nature of the review, but has been withholding the funds from my practice since June 2013, affecting our cash flow. It's in the contract and CareCredit can has the legal authority to do this, but this is an example of the predatory behavior so often practiced by insurance companies.
To make the matter worse, I was told by Carecredit yesterday (9/16/13) that they can withhold the funds up to a year. Every dentist I told was shocked by this, and so was the Academy of General Dentistry and Better Business Bureau. This can happen to any practices that work with Carecredit. Whether it's in the contract or not this type of treatment should never happen without an justifiable explanation or cause. This is NOT the kind of treatment we healthcare professionals deserve!
I've used Care Credit twice so far. I paid the monthly payments online with 100% success. I was charged no interest because I adhered to the agreements. There were two instances where I needed to speak with someone on the phone. Both were great experiences with nice, well-spoken people.
The first person happily took off the extra optional insurance charge for me. The second person was very kind when I explained I had made a payment late due to a death in the family and she assured me everything would be fine with the account, which it was. I am now ready to borrow again for my family's eye care. If you are honest and responsible, this company is tried and true and just right for you!
I took out a loan for a medical procedure a year ago. I feel *** for not researching this company more'. Basically I was told I had a zero interest loan for 12 months that ended September of 2011 (this month). I went to pay my account in full, and not only did they charge me a late fee saying I was late (I paid on the actual due date). They said the promotion ended a few weeks ago (end of August), and because I failed to pay it in full they tacked on 1500 dollars of back interest onto my account that I am now apparently responsible for!
What happened to "zero interest, and then interest starts when the promotion date has ended", and what happened to the promotion ending this month? I tried calling them and explaining my situation, and they were more than nasty to me. I am now going to be looking for a class action lawsuit, and to hire an attorney for these greedy people! Talk about predatory lending.
Oh and by the way, when I explained that the economy has hurt us in the past year (my husband was laid off last month), and how we couldn't afford to pay the back interest (not to mention the sky high interest that will be building on the back interest). The supervisor says "oh please Ma'am, the economy has been the same for 3 years". How insensitive can someone be?!
EL PASEO, TEXAS -- This is the WORST company I have EVER had to have the misfortune of working with. My little kitten broke her leg and I used the Care Credit as financing. They kept tagging me with late fees of $40 even though my payments were sent ON TIME and received (I send through online bill pay from my bank, it wasn't even a personal check).
I called and they said it was an error and it would be corrected. But it never was. When I called back they said, "Sorry Ma'am we don't see that anywhere here in are note. Too bad; we can't do anything about it." I paid above the minimum and paid off the whole thing in full when the promotional period was up. I even called to ask what my payoff amount was and they told me the WRONG AMOUNT... so now I am getting tagged with interest.
It is a low down dirty skeaming company and should not be trusted at all. The customer service are the nastiest people and they do not try to help you at all. DO NOT GET CARE CREDIT!!!!!!!!! DON'T DO IT. Try any other credit card... DO NOT DO NOT GET THIS ONE!!!!
COSTA, MESA, CALIFORNIA -- I had to have a dental extraction and the cost was $473.00 because it was categorized as a surgical procedure. Since payment was due at the time of service I had no choice but to use GE Care Credit and was informed at the time that interest would be deferred. When I received my first statement a few weeks later, the minimum payment required was $15/month, and I thought I was doing good at paying $30 most months.(I'm on a limited and fixed income.)
Like Russian Roulette, the promotional period snuck up on me and I still had a balance of $128. The account was assessed with 26.9% finance charges totaling $96.00. I could say that the company should have notated on the monthly statements that a monthly minimum payment of $39.42 would be required to avoid going beyond the promotional period, but I realize I was the one at fault for not examining this offer more closely and calculating the minimum MYSELF.
Because I did not do so I will now be assessed finance charges of 26.9% on the outstanding balance each month as well. BUYER BEWARE - DO YOUR OWN MATH! I'm not going to be too hard on myself because the pain I was experiencing at the time was excruciating and I appreciated the immediate relief. But I don't appreciate the headache I now have for not having taken the time to do the math.
ORLANDO, FLORIDA -- I to have had issues with Care Credit (GE Money). This is my second time with Care Credit & they have not changed their business practices at all. My payment is due on the 22th of the month. I just received my bill for March on April 3, 2010. April 5,2010, I receive a nasty call from one of their people, who doesn't speak English, demanding payment over the phone.
I explained to her when I received the bill. They are very good at not sending out statements on time & then contacting you, getting nasty. BY THE WAY, CARE CREDIT (GENERAL ELECTRIC) CONTRACTS ALL THEIR JOBS TO PEOPLE IN INDIA. How many families has General Electric caused to lose their jobs & homes to people in India????
When one of our service dogs broke his leg, the vet's office staff introduced us to Care Credit, which at the time seemed like a life saver to us. We found out later that Care Credit is part of GE Money Bank, as is the WalMart credit card. GE Money Bank charges as much as an amazing 51%.
Yes, that's FIFTY-ONE PER CENT! After obtaining a loan from our credit union to pay off Care Credit's usurious interest, and the manager of our branch contacted GE Money Bank for the pay off. After Care Credit was paid off, we got a notice there was $60 still due. The wife sent the final payment this morning. Not only do they not kiss you, they don't use Vaseline, either. Vets are now refusing to accept Care Credit any longer.
This is just to let all around know how awful the treatment of our elderly is. They were pushed to take out this card to pay for treatment that was important for their wellness. But seniors don't always understand how things are. I was alarmed when I saw a charge on my Mothers card statement of $159.00 finance charges. Then late fees of 39.00 had been added two different times. I called to ask about them and was informed, the bill had to be paid within a certain amount of time or the finance charge was added. I asked if they would undo this since she did not know and had taken a fall and broken a collar bone. Answer--no way.
It was on the contract and they couldn't change it. Asked them to remove the late fee since she had been hospitalized and couldn't help being late by one day. They would one but not the other. I then got another card and paid off this card because I don't want her doing business with people who have no honor in them or their business. We just received another bill for an added late fee.
They claim that the payoff did not reach them on time. I was assured it would. So called again and asked them to remove it since she owed them no money and the payoff was dated for the due date. Answer no way-took one off and can do no more. Anything else-and the brat hung up on me. What an excellent way to do business. If you owe these people money, pay them off as quick as you can, they will bleed you for every nickel they can get. How pathetic.
*UPDATE* I called again to day and informed the company that I had filed complaints with the MD and TX Attorney General's Offices, with the FTC, with the OFS and with online complaint websites. They moved my due day back to what it was before. Thank you all for your sugestions! Please be aware that CareCredit/GE Money Bank has changed their Billing Cycle from a 25 day cycle to a 23 day cycle.
This is a copy of the complaint sent to the Attorney Generals Office of Maryland and Texas: I have had this Credit Card for 11 months (1st payment made on 11/30/2007 and paid early every month since). The due date has always been on the 1st-3rd of the month (almost always the 2nd). My payments are $98.00 but I always pay $100.00 online. My last payment was on 09/19/2008 for the Oct. due date online. At that time it was stated that my next due date would be 10/02/2008.
I always check every bill I have 3 times a month on line to make sure the accounts are OK. When I checked today, 10/23/2008 it stated that my due date was now 10/30/2008. I called (called on 10/23/2008 @ 12:05pm)to ask why this was and was told that a form was sent out with the statements stating that the company was going from a 25 day cycle to a 23 day cycle and that I was informed via my mailed Sept. statement.
When I told the young lady that I don't get mailed statements, I have them emailed to me, she stated the there was a pop up on the site, too and it was to late to complain about it. I told her that there was no pop ups on the Account Page(I check the site 3 times a month). I also told her that his would mean that I would be making *2* payments for Oct. to which she stated, that she was sorry I was upset but that this is how it was now. This really doesn't seem right. If they can change the cycles so arbitrarily, what is to stop them from making it a 15 or 20 day cycle? From forcing us to pay them 2,3,4 times in a month to keep our credit from being damaged?
I requested that my billing cycle be returned to the 25 day billing cycle, that the 2nd Oct. payment be returned to my bank account OR that the payment be used for the next months payment. I don't really expect that anything will get done, but really wished to let others that use this CC know of the billing cycle change so that they aren't hit with a late fee and based interest rate.
COLUMBUS, INDIANA -- I'm writing on behalf of my mother who needed some of her teeth capped due to pain and a strong possibility of losing her teeth without this procedure. Her dentist suggested CareCredit as a means of obtaining credit for a specific time period. Instead of making the minimum $82.00 month payments, she was making $200.00 month payments. Her understanding, and her dentist's understanding was that she would have until the end of August, 2007 to complete payment on her loan. She was prepared to make the final balance payment this month, of $1513.00, since it is currently August 2007.
My mother was absolutely shocked to receive an invoice saying that instead of $1513.00, her new balance was $2704.61. "CareCredit" is not just charging her 28.99% interest on the current balance of $1513.00 that she owes, but is charging her the default interest rate of 28.99% on her initial loan amount, $5000.00 taken out back on 1/25/06.
They have charged her that 28.99% interest on her initial loan of $5,000.00 throughout the entire 18 months, even though she paid more than the minimum amount, and paid on time each and every month. I believe that this has to be, in some way, illegal, and we will be contacting our family attorney to research this matter more fully.
If I could say anything to anyone considering CareCredit, it would be to "run like the wind". They conduct business unethically, and are absolutely aware that they are taking advantage of the consumer since charging interest rates on initial balances already paid is not common practice and was not explained to my mother. She was aware that there would be a higher interest rate on any balance not paid in the 18th months, but not that the higher balance would be applied to the original amount that she has respectfully been paying on time for the entire length of the loan.
I consider this unethical, at best, and illegal and fraudulent, and believe the true intent of the company is to mislead people in need in a desire to make huge profits. This is another example of a company willing to mislead and misrepresent their terms to unsuspecting people, people who believe that companies will behave in an ethical manner. Instead, CareCredit conducts their business, it seems, based on what they must know to be a cruel and deceiving practice of charging interest on already paid past charges.
My attempts to reconcile this problem with a CareCredit Customer Service Representative was met with aloofness and no concern whatsoever to my elderly mother's plight. I will be making it my personal mission to advising everyone I know and I work in the healthcare field) to avoid this company and their services and will tell them the facts of what happened to my mother. My advice to any who read this would be to find a reputable lender whose primary goal isn't to deceive people into deceptive loan terms.