Care Credit Complaint - Magnanimous Rip Off!!! - Dental Care Credit

Posted by momsey on 2011-04-01:

They don't sound very magnanimous to me!

Posted by tnchuck100 on 2011-04-01:

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!).

Posted by Anonymous on 2011-04-01:

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.

Posted by Nohandle on 2011-04-01:

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.

Posted by FlShopper on 2011-04-01:

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.

Posted by Inat on 2011-04-01:

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 isnt 40 month free financing....

I've had a Best Buy credit card for years and have probably used abotu $12,000 of HSBC's money FOR FREE - have never paid a dime of interest

Posted by MaggieMcT on 2011-04-02:

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.

Posted by getoverit on 2011-04-02:

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.