Care Credit / GE Money
Deceptive lending terms

In July of I received LASIK eye surgery and paid for it through a promotion that the doctor's office was recommending via Care Credit / GE Money. Under the terms, you could finance the surgery with a 24-month, no interest payment plan. There was fine print, such as the fact that you had to make minimum monthly payments on time. Because of this, I had my bills auto-debited to deduct the payment amount each month. Two years into it, all of a sudden, I noticed that my monthly debited amount had almost doubled.in contacting GE Money, I just learned that the amount that I was being billed each month was NOT sufficient to pay off the ~$3,000.

I expressed to them that it was my assumption that they were billing me an amount each month that would enable them to get paid within the 24 months. While I realized in the beginning that the amount seemed insufficient, I just thought it was a gradated repayment plan. Another mistaken assumption on my part.

A month has passed since the end of my promotion and so my finance charge is more than $1,500. I have spoken to 3 representatives to tell them that I can pay off the remainder of the balance&without the $1500 finance charge. Heck at this point, I will pay a few hundred dollars of finance charge, just to be done with them. None of the managers are willing to reduce the finance charge in any amount.

Given that I have been a customer in good standing who paid on time each month the amount that was requested, and never missed a payment, I am furious that they never made it clear that the monthly payment amount would not pay off the balance in the promotional period.

Company: Care Credit / GE Money
Country: USA

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