Care Credit Informative - Caveat Emptor - Buyer Beware - Consumers need to scrutinize thoroughly - Care Credit offers deferred lending

Care Credit offers deferred lending

Review by chatty cathy2 on 2010-05-24

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.