• Report: #1027947

Complaint Review: Care Credit GE Online

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  • Submitted: Wed, March 13, 2013
  • Updated: Wed, March 13, 2013

  • Reported By: Joanne — fayetteville North Carolina U.S.A.
Care Credit GE Online
Internet United States of America

Care Credit GE Online charges interest on interest Internet

*Consumer Comment: What?

*Consumer Comment: Apparently

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I was never late.....bill was done to 2300.00 I lost my job and missed the promotional pay off date, So the deferred interest was added on to the balance bringing my new total due to 4600.00!!!!!!!!!!!!!

So they added the inteest to the bill AND NOW they are charging interest on the previous balance & the interest total due 4600.00 This is double dipping How can this be legal?????????????????????? It sounds like a mafia loan shark....... I think maybe I should not pay them at all, let them file a judgement, can't get blood out of a turnip I am unemployable, and have no assets...whatca want to do care credit tell me??????

This report was posted on Ripoff Report on 03/13/2013 05:54 AM and is a permanent record located here: http://www.ripoffreport.com/r/Care-Credit-GE-Online/internet/Care-Credit-GE-Online-charges-interest-on-interest-Internet-1027947. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

What?

AUTHOR: Flynrider - (USA)

"  So the deferred interest was added on to the balance bringing my new total due to 4600.00!!!  "

  You appear to recognized that this is what was going to happen if you failed to pay the loan off in accordance with the terms.    Your disconnect appears to be that you don't realize that the lump of deferred interest along with the unpaid principle is now your new balance.    You are charged interest based upon your outstanding balance.   Doesn't really matter where it originated, it is now money that you owe and have agreed to pay interest on.   

   If I'm reading your post correctly, you appear to think that the lump of deferred interest that you incurred, should be carried indefinitely, interest free, right?    Not sure how you came to that assumption.  It certainly doesn't follow any lending practices that I'm aware of. 
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#2 Consumer Comment

Apparently

AUTHOR: Robert - (U.S.A.)

Apparently you have never had a credit card, or have never paid attention to it before.

You are assessed Interest on any unpaid balance.  This amount accrues(builds up) during the month.  At the end of the month the accrued interest is added to the remaining balance.   You are then charged interest on your full balance(which includes any interested assessed).

This is the way that EVERY credit card works.

Oh, and if you think having them get a judgment will get them off your back.  That is just the beginning.  In North Carolina if they get a Judgment they can collect on that judgment for 10 years, and the judgment is renewable. Which basically means that they could come after you forever.   All during this time the Interest continues to be added to your balance.
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