In June my wife used Care Credit to pay for some extensive dental work she had to have done totaling almost $5,000. She used Care Credit because they were nice when she contacted them and they explained how everything worked. They told her that in order to avoid interest, all she needed to do was pay it off before the 18 month free interest period expired. I
It is now August and we have been paying triple the amount of the minimum payments and are well on our way to paying off the loan. My wife just noticed an interest charge of $800 dollars on her last statement. When she inquired she spoke to a very rude lady on the phone who told her that because she missed a payment, they cancelled her interest free deal, and were charging her the accrued interest from the beginning at a 28.9% interest rate!!!
When we looked back, we have paid them over $3000 and the minimum payments only add up t0 about $1000. Because of some family illness we were out of town alot and my wife did miss her June payment. When we called back to talk to someone we were treated like crap and they basically told us they did not care what the circumstances were, nor did they care about anything that had to do with them removing the charge because "it was not going to happen".
I could understand if we were just paying the minimum and missed a payment but, they have way more of our money than they could have at this point had we been paying the minimum.
This company has no compassion and did not completely explain their terms and conditions. As a matter of fact, when my wife asked what was needed in order to avoid interest, she was only told to pay it off before the 18 month interest free period was up. She wasn't told anything about that fact they charge the accrued interest if a payment was late or missed.
Care Credit is owned by GE. I will never use Care Credit again. I cancelled my GE credit card as well, won't by GE products in the store, nor will I recommend anything GE to anybody.
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