GE.COM CARECREDIT.COM WHY DIDN'T I USE MY NORMAL CREDIT CARD? Internet
I applied for this card at the dentist office to finance a small dental bill. I was told by my dentist that it was interest free for 12 months as long as I make my minimum payment. I applied for this card and received a 3,000 dollar limit. Used the card immediately for a few hundred dollars. My bill is now $664 dollars after about 14 months of using it, I've paid the minimum payment every month without missing a beat, it's direct deposit. Its hard to tell from their ghetto little website but after clicking on just about every transaction link I saw that on 9/24/2010 I was charged an interest accumulation of about $220 dollars. Then again $25 dollars 10/24. Again $20 dollars 11/24. All this interest on a few hundred dollars after being 2 months after my 12 month promotionl rate. I am so regretful that I've applied for this card, noone of my other credit cards have ripped me off so terribly bad. I thought the forgeign transaction fee's ranging from $1-$5 was a ripoff, I've learned a lesson and oh am I so sick of learning lessons. I greatly hope this business goes out of business and those seeking to rip off their customers in a worst situation than ever. I hope lawsuits crush them and for their sake they are incorporated. My advice pay it off prior to the 12 months ask them to deactivate your account and use a credit card to pay your dental/health bills. They are a company seeking to rip you off, I certainly assure you of this.
6 Updates & Rebuttals
Jenifer
portland,Oregon,
U.S.A.
Minimum payments on interest free loans
#7Consumer Suggestion
Thu, March 03, 2011
I don't want to sound condescending, but if you would have divided out your inital charges by 12 months, you would have immediately noticed that your minimum payment would not put you anywhere NEAR paying off the balance in a year.
I have a CareCredit card. They told me on $1000, my minimum payment per month was $33. Guess what? In order to pay it off and avoid interest in that 18 months, my minimum payment needed to be $55.56 every month.
They are in the business of making money. That being said, of course they only want you to make the minimum payment...they want their interest fees.
Sorry you found out the hard way though.
Barbi vega
Scranton,Pennsylvania,
U.S.A.
re:CareCredit
#7General Comment
Wed, March 02, 2011
3-2-11- This is a thank you to the person who wrote in regarding the CareCredit payment plan. I picked up a brochure at a dentist's office, but something told me to check them out with Ripoff Report and found your report. I will be using my own credit card for future bills. Again, thank you very much. BFV.
Bman
Philadelphia,Pennsylvania,
United States of America
The Same Happened to Me...
#7Consumer Comment
Wed, January 19, 2011
Thank you for your report. In my case it was a card for Home Depot (backed by Citibank), where they charged no interest and kept charging the credit limit making it ever higher for one year, since I am fixing up an old house this was really great. Then after the year was up, and the full amount was not paid, they then put onto the account the accrued interest - a shocking $1000! Yes, heavy fees are how most credit cards are making their money. I have since paid off this credit card and will not make this mistake again. Thanks for spell check Rip Off Reports!
Jacques Botty
mclean,Virginia,
United States of America
After clearing my balance and closing my account, they charged my account again!
#7Author of original report
Tue, January 18, 2011
Today I went to my bank statement and $10.53 was charged against my debit card for an account I paid in full last month and closed.
Overall I spent $900 to pay for $200 in dental services.
Pesadilla143
Austin,Texas,
USA
Not a rip-off
#7Consumer Comment
Tue, December 21, 2010
Unfortunately, if not paid within the 12 months - the interest accrues from the date the credit was first used. It is slimy that they do that, but it is not illegal.
You had to have paid the credit off within 12 months for that not to have happened.
coast
USANot a rip off
#7Consumer Comment
Tue, December 21, 2010
As stated in the loan agreement-if the balance is not paid by the end of the promo period you will be billed interest on the full principal of the loan.