Care Credit - Page 3

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2.3 out of 5, based on 3 ratings and
34 reviews & complaints.

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They Won't Even Kiss You
Posted by on
When one of our service dogs broke his leg, the vet's office staff introduced us to Care Credit, which at the time seemd 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.
     
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Anonymous on 12/01/2009:
How is 51% even legal? Oh my GOSH! I'm glad your vets are smart enough to just say no to them! Is the Walmart credit card this bad, too?
redmx3racer on 12/01/2009:
Sorry, but you are apparently misinformed. Carecredit is not just for Vets, it is for all kinds of different healthcare for humans too. You get anywhere from 3-12 months to pay off the debt free of interest, depending on the amount of the loan (I think). You can get an extended plan where you pay 13% if you can't pay the amount off in the alloted interest free time. If you default on your loan, you get charged a max 29.99%.
I've used it for my dog once, and my GF used it for dental surgery. Neither of us experienced anything like you said. It came in handy both times and was really helpful.
Starlord on 12/01/2009:
red, I am not misinformed. We know it is not just for veterinary care, and we have known that from the beginning. My wife obtained the information while negotiating for the pay-off yesterday. The 51% is not the standard interest rate, but it CAN go that high. When we did not pay the $60 they claimed was still due, they kicked it up to $90 and threatened collection. I don't know where you got YOUR info, but the wife got her's straight from the horse's mouth, or should I say straight from the other end of the horse?
redmx3racer on 12/02/2009:
I got mine right from the website when I read your review, since we have used it twice and never got a rate that high.

If it does indeed go to 51%, they don't say anything about it, they say a max of 29.99%. I'd post the link here for you but last time I did that on a review my comment got delted so maybe it is not allowed.
redmx3racer on 12/02/2009:
Instead of a link, here is the whole thing.

*No Interest If Paid Within 3, 6, 12, 18 or 24 Months* (Minimum monthly payments required.)
Valid on a $300 minimum purchase amount required for plans longer than 3 months on CareCredit account. On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 3, 6, 12, 18 or 24 months, (2) all minimum monthly payments on account paid when due, and (3) account balance does not exceed credit limit. Otherwise, promo may be terminated & Finance Charges assessed from purchase date. On promotions requiring a minimum payment, payments over the minimum will usually be applied to those promo balances before non-promo and other balances. If you have a non-promo balance, this may reduce the benefit from the promo. If you want to change this allocation, please call Customer Service. Standard terms apply to non-promo purchases, optional charges & existing accounts. As of 7/1/09, variable APRs: 22.98% & on all accounts in default, 29.99%. Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.

Extended Payment Plans
Valid on purchases of $1000 or more (24, 36, 48 months) or $2500 or more (60 months) made on the CareCredit account. On promo purchase, fixed monthly payments equal to 4.7966% for 24 months, 3.4129% for 36 months, 2.7276% for 48 months, or 2.3216% for 60 months required, but finance charges will be applied to promo balance at the reduced daily periodic rate of .03808% (ANNUAL PERCENTAGE RATE 13.90%) if (1) promo purchase paid in full in 24, 36, 48 or 60 months, (2) any minimum monthly payments on account paid when due, and (3) account balance does not exceed credit limit. Otherwise, promo may be terminated. Standard terms apply to non-promo purchases, optional charges & existing accounts. Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.
Starlord on 02/08/2010:
I located the statement that showed on the back of it a maximum interest charge of 51.29% or over twice what they claimed to you, red.
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Shabby Treatment Of Seniors
Posted by on
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 payof 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
     
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Care Credit is a Scam
Posted by on
LOUISVILLE, KENTUCKY -- Every month Care Credit seems to find one excuse after another to put a late charge of $29 or say the payment was reversed.
I have ALWAYS had trouble with Care Credit. This last time the payment was due on the 22nd. On the 19th I paid much more than the minimum, which I ALWAYS do. It came out of my checking account on the 22nd but wasn't posted till the 23rd. Therefore, I was charged a $29 late fee. When I called to complain, Eric told me that he was sorry but they would go by the date it was posted and it was too bad, but there was nothing they would do about it. But they would report it to the credit bureau that I was 1 day late. This has happened more than once. I now have an attorney that is writing them a letter. I have paid $352 and still have a balance of $461 on a $500 credit!! No matter when I make the payment they are rarely credited on time PLUS they say that there have been "Payment Reversals". I still can't figure out why. I have called my bank and they have no idea. I have ALWAYS had the money in the bank when the payments were made. The routing and account numbers have all been correct. I think Care Credit is a scam. I was in the dental office a few months ago and a patient was looking at the Care Credit brochure. The office was full of patients. I told her what a scam they were and she would never get them paid off. She put the brochure back as well as did others. Anytime I see people thinking about it, I tell them all about Care Credit and none of it is positive. I have also complained to LA Weightloss about them.
     
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Misrepresentation of terms
Posted by on
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.
     
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rnick821 on 08/13/2007:
I wonder if her dentist is in on this, too. I mean, he recommended it. I would get a new dentist.
ToothLove on 08/15/2007:
Although I feel horrible for your Mother, there must have been fine print explaining the terms and conditions. The Doctor is not a finance company, it was up to you to understand the situation you were getting into. Everyone seems so alarmed a company is NOT giving them a free loan. How dare the company be in business to make a profit. The nerve of them!
Dior4Me on 08/20/2007:
Listen, ToothLove, no one reads the fine print, which is how Care Credit and their ilk are able to squeeze the consumer. Someone distressed and in pain with dental problems, worrying about money and impending surgery, is hardly going to be able to read and digest the "fine print". Care Credit charges enormous interest rates. There is a difference between being in business and being greedy. I feel bad for the mother of this person.
davidahn on 05/27/2008:
I am a pediatrician who offers CareCredit, and I assure you the dentist is not "in" on it, in fact he/she PAYS CareCredit (to get the money up front). The dentist may not even know the terms offered by CareCredit (I certainly didn't until tonight).

I feel bad for your mother, especially if she's elderly or easily confused. But you should ALWAYS read the fine print, once you get treated and out of pain. And if you don't like the terms, obtain better financing, such as zero-interest credit cards.

My wife and I have gotten 12-18 mo. no interest loans, and they often accrue interest even while you make on-time payments in case you don't pay it off in time, in which case you get slapped with the whole interest. Penalties are neither illegal nor unheard of; except maybe in healthcare, where everyone expects only kindness and sympathy. :)
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Magnanimous Rip Off!!!
Posted by on
Terrible card with terrible terms and terrible customer service. They don't care about their customers at all. You begin with 0 APR for some time, but god forbid something goes wrong and you're unable to pay you balance off in time, they hit you up with a magnanimous interest charge for the entire time from day 1. Just regret opening up this account and do not recommend it to anyone else - you're better off getting a personal loan from a bank!
     
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momsey on 04/01/2011:
They don't sound very magnanimous to me!
tnchuck100 on 04/01/2011:
Yup, it's right there in the agreement. Care Credit only works IF you pay according to those stringent terms. Looking at it from their point of view: They WANT you to fail. That is where they make their living...(er, killing!).
Anonymous on 04/01/2011:
Anytime you see a 0% apr you should know that there are going to be some stringent rules and harsh penalties. Missing a payment is going to cost you. It should all be in your agreement.
Nohandle on 04/01/2011:
Thanks for the reminder. You've learned what many others did quite a while back. Word of mouth or learning the hard way. The business has to pay for the honor of accepting the card and receiving payment immediately, but the big bucks come from debtor. No company is expected to offer money to you for free but that fine print keeps getting smaller.
FlShopper on 04/01/2011:
Momsey's right...there's nothing magnanimous about it. Reminds me of the line in The Princess Bride "You keep using that word. I do not think it means what you think it means."
Back to the OP...the terms are usually spelled out for you. If you make even one payment late, you're in trouble. I took advantage of their 0% for 11 months, tried to pay as much as I could towards the balance, then was able to transfer it to another card before the 0% offer expired so I never paid interest on it. Those offers can be great, but you have to be extremely diligent about paying on time, every month.
Inat on 04/01/2011:
nothing wrong with this practice at all! NEarly every credit provider does this - they give you a benefit as long as you adhere to the terms. 36 months free financing is exactly that - 36 months free AS LONG AS you pay it of in 36 months since it isn't 40 month free financing....

I've had a Best Buy credit card for years and have probably used about $12,000 of HSBC's money FOR FREE - have never paid a dime of interest
MaggieMcT on 04/02/2011:
Every 0% promotion I've ever seen had the same kicker attached -- late payments, even just one, = interest charges. Yet another reason to get your emergency fund in place so you don't have to use things like 'Care' credit.
getoverit on 04/02/2011:
I stuck with the same five credit cards for years. I used to spend a lot of time reading those offers from credit card companies with great introductory and balance transfer rates. I'd call the people up and invariable find out what strings are really attached.

Now, they're shredder fodder. Life's too short.
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Outrageous APR!!!!! 87+% Unbelievable!!!!!!
Posted by on
ORLANDO FLORIDA -- These credit cards are offered and often recommended by dental offices and doctor's offices. That DOES NOT make them safe!!! I hope that any legitimate physician who cares about their business and patients immediately remove any of their propaganda from their waiting areas!!!

They are even ENDORSED by all of these companies!!!
http://www.carecredit.com/endorsements.html

I took one out when my endodontist recommended it b/c it was interest free for so many months. Indeed, yes, it was. Then I checked my bill. Here is what it said...

If the balance is not paid within the promotional period your APR will default to the percentage on page 3...
(go to page 3)
APR............87%!!!!!!!!!!!!!!!!

Buyer beware... Buyer be AWARE!!!!

Let's just say it WILL be paid off before that happens, but if I had not checked that page 3 info, or if I had continued to simply make the 'recommended payment' (a payment that WILL NOT have you paid off by the end of the promotional period) via the website, I would not have known. It was just luck that I checked that paper bill this month. I would have had to pay 87% on $311. That gets mighty huge, mighty fast.
PLEASE PLEASE PLEASE use wisely!!!!!

I want everyone to highlight their interest rate and have all endorsing medical practices drop their endorsement. Hopefully less people will be taking out credit cards in the future. To me, the only thing that will save the credit card companies IS govt intervention. Unless I know that everyone is following the SAME rules in the credit industry I have no reason to trust any of them, and neither do you. Of course, we shouldn't be trusting everyone now should we? A simple cap would be nice. 87%!?!?! Yeesh!!!
     
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CrystalSword on 04/15/2010:
And anyone with a Wal-Mart credit card should also know that is through GE Money!!!!
momsey on 04/15/2010:
Very true, 87% is an outrageous rate, but wasn't that rate in the paperwork that you looked over before you signed up for the card?
FlShopper on 04/15/2010:
The terms are printed on the application so that consumers will know about the accrued interest and rates before signing on the dotted line.
We knew the terms when my husband signed up for one of those cards. I paid interest free for 11 months, and then transferred the entire balance to another (lower interest) card before the introductory period expired.
Sparticus on 04/15/2010:
They are indeed frightening to work with. I currently have two accounts with them and both I have set up to do auto-pay each month. I set the payments amounts higher so it would pay off the debt well before the deadline.

My only concern is if they "accidentally" have a technical glitch and one of my scheduled payments is late... Who is at fault then? I bet I'm on the hook then...

I should just pay the darn things off... if I could.
Disaster Worker on 04/15/2010:
This was offered to my daughter when she would owe about $1500 after her insurance paid for her surgery. Glad she opted to pay the balance up front.
madconsumer on 04/15/2010:
I think 87% interest is wrong. any links to their site?
*Brenda* on 04/15/2010:
No Interest if Paid in Full within 6, 12, 18 or 24 Months


on purchases with your CareCredit card. Interest will be charged to your account from the purchase date if the promotional balance, including optional charges, is not paid in full within 6, 12, 18 or 24 months or if you make a late payment. Minimum monthly payments required. Not all providers offer all promotional plans, ask your provider for details. Valid on CareCredit account. A minimum purchase amount may be required for promotional plans longer than 6 months in duration. On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 6, 12, 18 or 24 months, and (2) all minimum monthly payments on account paid when due. Otherwise, promo may be terminated and treated as a non-promo balance. Finance Charges will be accrued at the Purchase APR and assessed from purchase date. Standard terms apply to non-promo purchase and optional charges. Promo purchases on existing accounts may not receive full benefit of promo terms, including reduced APR if applicable, if account is subject to penalty APR. Payments over the minimum will be applied as required by applicable law. As of 2/1/10, APR 24.99% & on all accounts in default, Penalty APR: 29.99%. Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.
from carecredit.com
lolalane on 12/14/2010:
THIS IS THE LAST TIME I THROW MY MONEY AWAY ON HIGH INTEREST CARDS. JUST FINISH PAYING OFF, THIS IS MY REALITY!!!! KEEP AWAY FROM THIS COMPANY THEY WILL RIPE YOUR BANK ROLL OUT OF YOUR HANDS.
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Horrible Service!
Posted by on
I have had CareCredit for years and we have always paid more than the minimum amount. Sometime we would pay two or three different payments in a month and thought we were paying it off. Come to find out that due to their HUGE APR (50%) we were not paying down the balance at all, but just the finance charges! At the end of the year we were looking at our statement and began to wonder why our balance wasn't going down. I called them and was informed my account was closed due to "continuous late payments". I proceeded to tell them that we paid multiple times per month so we were early and not late. We were informed that if ANY payment is past the due date (regardless of how many you may have made the month before) it is considered late and your account can be closed for that. So now it's a matter of getting the money together to pay this off and get rid of it once and for all.

GE has most definitely left a bad taste in my mouth after this experience.
     
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Anonymous on 01/06/2010:
Duplicate review?

http://www.my3cents.com/showReview.cgi?id=69747
tnchuck100 on 01/06/2010:
I really don't think it is a duplicate review.

It does appear to be another case of someone who does not understand our financial world.

Rayna, your best bet here would be to obtain a lower rate secured loan and pay off this account. At a 50% APR you are drowning in this one. Please educate yourself on how loans work. Understand how and when interest and payments are applied. Good luck.
Rayna on 01/07/2010:
First off, this is NOT a duplicate review. It just seems that we have had similar (although not identical) experiences.

Second of all, I understand "your world" just fine and I do understand that GE gave me the worst possible experience I could ever have had.

A loan would be nice but in this economy, when you don't have the collateral to put up for a loan you are stuck. To clarify (for those in "your world" who might not get it) I don't have the income to get a loan at this point in time.

So please, should you have any further derogatory statements to throw at me, do yourself a favour and DON'T! You have no idea of what I'm going through or what it's costing me.
PepperElf on 01/07/2010:
um wait... I don't see any derogatory statements here. who are you accusing of this?

saying "you don't understand how loans work" isn't very derogatory, at least in my opinion.

now if they started name-calling and saying "you suck" or something like that... then that would be derogatory, but... I guess it all depends on how sensitive you are.
voiceoff on 01/07/2010:
Saying someone doesn't grasp what your superior mind does is condescending not derogatory. Rephrase it gentler like,"yea the loans are usury made legal," so we all appreciate what is happening here. Really 50% is USURY and the new laws won't allow that I think.
Loans are a good and kind thing when the interest rate is doable, but not 50%.
Anonymous on 01/07/2010:
If you make payments on certain loans a specific number of days before it is due, you can actually STILL be considered late when you pay again. And paying multiple payments in one month doesn't always put you ahead. Many loans pay against the principle if you pay early OR more.

You can also make a payment every month and STILL be 30 days late each month. It depends on your payment contract and the cycle of days you are paying.
grantcv1 on 06/10/2010:
I have been caught making an early payment and then being penalized for being late. We all need to realize that banks are run by greedy opportunistic people that scrutinize the law to see what they can get away with. They are rewarded for coming closest to breaking the law without going beyond the line. These are dishonest, dishonarable people and we all should be very careful when we deal with them. People don't rob banks. Banks rob people. That is the way it is in 2010.
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Complaint
Posted by on
We thought we were making advance payments on out account. During the last 12 mos, we paid in $5000. More than the min amount due. Sometimes we would send in a payment 3 or 4 days after due date but paying so much in advance we did not feel we were late. Care Credit charged us $159802.00 in finance & $200 in late charge because we “FAILED TO PAY THE MINIMUM AMOUNT WHEN DUE” Please do not take advantage of their interest free plan. They will find some way to charge you the interest. I think they are a bunch of crooks!
     
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Anonymous on 01/06/2010:
What??? You have a $159,802 finance charge? Ummm doesn't seem right to me. I think you have a typo there. As far as payment, when you make a payment on your credit card, even if it is MORE than the payment due, you are paying for THAT month. If you still have a balance, you have to still make at least your minimum payment next month. That's just common sense. If you were afraid you wouldn't have any money next month, you shouldn't have paid so much towards it in one month. It doesn't work that way.
saj80 on 01/06/2010:
I will try to expound on what Tennboy stated, which is 100% accurate: the due date is the day creditors expect payment. Some offer a grace period, but use of the grace period still denotes being late. However, these types of creditors, including credit card banks, expect payment on or before the payment is due, and "just a few days late" doesn't matter. You created this problem by your own ignorance of how credit works, and now have to pay the price for doing so.
Anonymous on 01/06/2010:
"Sometimes we would send in a payment 3 or 4 days after due date but paying so much in advance we did not feel we were late."

Paying ANYTHING after the due date... uhhh... that's late. There's a reason there's a due date. Doesn't matter if you had paid the whole thing off... it would have still been late and you would have been charged a late fee.
momsey on 01/06/2010:
I feel like we're missing some information. And I do think there's a typo in the finance charge you said you incurred.

But, yeah, what the others said, if you pay late, whether you're paying the whole balance or more than you owe or just what you owe, you're late. And you agreed to the terms of the credit line, so you have to pay late fees when you are late.

Just reading it again, and I'm guessing that you agreed to a deal like I get at Best Buy. As long as you pay the minimum by the due date every month and pay off the whole balance by a certain date, it is interest free. Let me tell you, that's the first bill I pay every month! I am trying to avoid finance charges, and as long as I get the minimum payment to them by the due date, no finance charges! The terms are clear - if you pay late, you are responsible for all of the finance charges from the beginning.
Skye on 01/06/2010:
Best answer, bkk.

Late is late, whether its 5 minutes, 5 hours or 5 days.

You received the credit help, on time, when you needed it, now they expect to be paid back on time, as per your terms and conditions.

Slimjim on 01/06/2010:
$200 in late charges over the course of a year kind of translates to "sometimes" being more like "often".
FYI, no lender has an Interest Free plan for slow payers.
Anonymous on 01/06/2010:
If you had a monthly payment due of $75, and you sent in $100 for the first 11 months, but on the 12th month you only sent $25, you're late. Your agreement is to pay a monthly payment of AT LEAST $75. Unfortunately, paying more one month does not lower next month's payment.

That being said, if you had paid 11 payments with excess, then called them the 12th month and explained a problem, they will often adjust your due amount for one month, so the $25 payment won't make you late. They are not required to, but generally appreciate a good payment history.
Skye on 01/06/2010:
Always the voice of reason, Ken.

Admin, Ken is over due for his 4th star.

Thank you.
memoryx57 on 01/06/2010:
I'm just wondering if maybe they were making 2 separate payments in the same billing cycle thinking they were ahead of the game. You really have to understand how these no interest deals work. Believe it or not, they really want you to be late or not have it all paid by the end of your term. Even tho they make a little money on the deal when it's all paid on time, they make the bulk of it when people don't pay on time. Sorry this happened to you.
Eloise on 01/06/2010:
Saj80 & BKK, best answers!
Anonymous on 01/06/2010:
aw shucks Skye, thanks!
Anonymous on 01/06/2010:
memory, you were thinking what I was thinking.
voiceoff on 01/07/2010:
memory is absolutely right. They think you took advantage of them when you pay the full amount as soon as the propmo ends or transfer to another low % rate with another card. That happened to me with BOA. They were furious I paid off the card ( I transfereed to another low promo) and so arbitrarily closed the card ( I was not profitable anyway). It is really sad that they get angry when they make you an offer you can't refuse that are mad you di fall into that trap set for you. It is hard to deal with bills after a divorce with lawyers eating away at your assets. So you stupidly start charging...
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Care Credit breaks accounting principle of "First-in-first-out."
Posted by on
PO BOX 981127 EL PASO, TEXAS -- I am disputing the charge of $407.06 consisting of principal of $395.04 and illegal accrued interest of $12.02. I am also disputing the charge of $15 total minimum payment due specified on the Statement Date of 11/18/09.

Not only did Care Credit refuse to declare my $395.04 interest null and void, it broke the basic financial accounting principle of “First-in-first out.” Instead of applying my payment of $7269 toward the first payment incurred, it applied it to the last 3 payments incurred. Realize that I am paying off the promotional balance (PB) of $160.81 approx 20 days early, PB of $2000.01 approx 144 days early, and the PB of $3864.39 approx 174 days early.

I would not have had to pay any interest on these payments. In this case Care Credit practiced predatory lending. Care Credit applied my early payoff of $7269 to each of these payments for which I would have owed no interest. Instead Care Credit., A predatory lender, failed to apply my payment toward the first bill that I had incurred. Predatory lending because I discovered that care credit continued to charge me 23.99 % interest rate on the unpaid balance even though the $395.04 unpaid balance would not officially been due until 174 days from Oct. 23, 2009. The exact date that this payment should be due is (04/17/2010—the promotional expiration date).

Reinstate the promotional balance due form of payment and Reinstate the promotional balance due date of 04/17/2010. The promotional balance due should be $395.04.
     
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Anonymous on 11/28/2009:
You haven't got a prayer here. First of all, FIFO is not the *only* accounting principle, it is only one of several possible methods. Second, when you get a promotional rate, payments are always applied to that first.
Anonymous on 11/28/2009:
Check the fine print in your account agreement with CareCredit. If you haven't already read it I doubt you will find that you fall under the first in first out rule. Not to say that it is not used but I am not familiar with any credit account that uses this principle now when there is a promotional APR on any charges. This may change after the new credit rules go into place in 2010.
Anonymous on 11/29/2009:
Did they ever advise you that they use FIFO? I doubt it since it wouldn't be as profitable for them.
Ponie on 11/29/2009:
You're right, PC. That's one bit of 'help' our government is giving us. It'll work for a while. Just long enough until a new crop of debt-junkies arises. You know the kind. The ones who buy what they *want* not what they *need*--and all on a credit card.
Starlord on 11/30/2009:
Care Credit is a rip-off! We were introduced to it by the staff at our local vet's office when one of our service dogs broke his right front leg in four places and ended up having to have it amputated. We made a few payments under their usurious interest rate, then got a loan from our credit union to pay off Care Credit. Car Credit gave the manager of our branch the pay-off amount, then turned around and notified us there was an additional $60 that had not been paid. I told my wife it was an error and not to pay it. They responded by boosting it to $90. The wife is about to pay the last of it off, and I will enclose a nastygram. We learned that Care Credit is a part of GE Money Bank, and their president just evicted his grandmother from her home because she was a day late on her mortgage payment.
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Dad gets Bad Credit from Co-Signing the First (1st.) time
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I Helped my Daughter out by Co-Signing ( one-Time) for Dental work; because she was in Pain.. It took a long time for her to pay-off her bill, but she did!! Care credit did call my home when she fell behind; and then I would call her and let her know!! But they wanted me to pay; hell NO, I told them, it's her bill!!! Every time it souned like their employes were from India or some other country..They don't understand our talk, our certain words we use!!! She did pay it off!! And then she went back to that same Dentist; and she had to fill out another application for care credit and I was not there!!!! Somehow my name got back on her paper-work !!!! I did not sign anything! But now because she fell behind on her payments, I HAVE BAD CREDIT!!!!!! I just found out!! I went to car lot to buy a Car and My Credit was Bad because of CARE CREDIT got my name on their App. with-out my concent from the first Time!!!!I'm SCREWED.........
     
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spiderman2 on 10/01/2009:
When you cosign a loan you assume responsibiliy for the debt if the principal signer defaults. Your daughter may have paid off the loan, but she didn't do it in a timely manner so on that issue your anger should be directed at her. I would check with the dentist and/or the credit company to see how your name got on a second loan or if this was just an extension of the first. The lesson to be learned here is that you should never cosign a loan you are not ready to pay off.
jktshff1 on 10/01/2009:
Co-Sign....you agree to be responsible for the debt. How hard is that to understand?
Anonymous on 10/02/2009:
It appears that you co-signed for a line of credit. If so, it can be re-used. You have bad credit because you co-signed a loan for a deadbeat (who does not floss!) The only way you can get out of this is to pay off the loan and make sure the line gets closed. Then figure out how you are going to get the money back from your daughter.
tnchuck100 on 10/02/2009:
"and she had to fill out another application for care credit" this would indicate an entirely new account.

Blue, is the account number the same or is it a new number?

If it IS a new account you have a good case for fraud and/or forgery.
MSCANTBEWRONG on 10/02/2009:
Perhaps your daughter allowed them to add your name to this "new" loan...
beanbagbritches on 10/02/2009:
Even if you weren't paying on it, it was your debt too.
tnchuck100 on 10/03/2009:
It's amazing how many people comment and obviously are not aware of its details.
jktshff1 on 10/03/2009:
tn, see what you mean, still, the "somebody" would be the daughter that allowed that to happen and he ought to be jumping on her.
Anonymous on 10/03/2009:
Chuck, he wasn't there, and doesn't know what she signed, so it could well just have been an application for a new advance. Hence I began with 'it appears'. What I find amazing is how quick you are to slam the other posters.
tnchuck100 on 10/03/2009:
Well, Ken, it comes down to comments being made that totally ignore some of the information that is given. It happens far too much. Usually by the same people.
DigitalCommando on 10/03/2009:
I don't believe there is any transaction that can be initated without all parties to it signing the new paperwork. So is he really on the hook for the second loan?
momsey on 01/08/2010:
Did you investigate how your name got on the second Care Credit application if you didn't sign? Instead of hooting and hollering here, I would be finding out exactly what happened and how my name ended up on a line of credit that I didn't agree to.
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