To begin with I used CareCredit for medical reasons first in June 2006 and was told that the account would be interest free for 18 months. I later found out that I had to make a minimum payment and that it was not interest free but was in fact deferred interest that had to be paid by December 21, 2007 or I would be charge 21.99% interest on the whole 3000, which I have been making payments every month.
I also used one of their promotional checks that offered a 3.99% but come to find out that was only for 6 months. I noticed in November that all the money that I was sending in was now being applied to the second promotion and only a minimum amount was applied to the first promotion. I called and told them I wanted the 847.00 that I sent on November 7 to be applied to the 1655.48 that had to be paid by December 21. Mark said he took care of it and that would leave a total of 647.00 to be paid before December 21st to avoid the deferred financial fee. I paid another 1100 on December 3rd which was more than enough to cover the 647.48.
I called customer service at the end of November and on December 6 again I I spoke to another young lady in December to verify it was taken care of and she told me it was (I explained I did not want to end up paying 915(at the time) in interest and wanted to make sure the payments was allocated towards the June 6 balance she said she understood and it was taken care of) there was never any mention to me it was not reallocated (or would not be allocated)into the correct promotion it should have been applied to in the first place. I would have paid if off even if it meant I had less in savings to avoid paying 962.48 in deferred interest. I thought it was taken care of until....
Yesterday I got my December bill I was charged 962.89 on December 22, 2007. I called customer service and understandingly I would be upset after checking all my statements I saw that they had started applying some of my payments beginning in September (Mind you I got the 2nd promotional rate in May 07) I got nowhere with the representative except "I'm sorry" and when I asked to speak to a supervisor I was put on hold for so long I hung up and called back, this time I was put on hold again and by the time they came back on the phone I ended up telling them "to go to hell" and companies like this are going to end up rotting in hell for what they do to people because what they do is just wrong and deceitful, of course they hung up on me, I was so mad I called back and told them to close my account. I usually don't lose my temper not like this ever.
I then tried calling GE credit Online phone number and I was crying by then, and the representative said she was so sorry and agreed with me what they did was wrong and told me to call and ask for a supervisor which I did. This time believe it or not I got the same rude representative named Chanelle who now claimed to be the supervisor when she was a customer service representative 20 minutes earlier and the one who put me on hold for a lenghty period of time before I hung up.
Today I called again hoping to resolve this issue and spoke to Martin at GE who gave me a different number for CareCredit. I called and ended up talking to another supervisor Dan who now claimed that I had to pay off both amounts before December 21 and that's why I was charged the 962.48. It does not say that on the statement however they have words like the above amount. What is that suppose to mean it doesn't outright say it anyway it is very vague and they never sent any disclosure statement stating this fact.
What a bunch of BS! I filled a complaint with the FTC and have written a letter to billing inquiries addressed to both GE and CARE Credit which I am mailing tomorrow certified mail (it has to be within 60 days of a dispute) I also paid the whole amount except the 962.48 they charged me. Someone needs to bring a class action suit against these vultures! I hope others that have had this happen file with the FTC as well.
According to my statements as long as I paid 1605.46 I would avoid paying the deferred interest it did not include the promotional check which I used in May 2007 I was already being charged 3.99% which went up to 21.99% on December 21, 2007. It never said you have to pay both to avoid a deferred just the one.
What I don't understand is why the allocation was changed to begin with. I called in November because I noticed the error. Again I made the pay off balance before December 21st to avoid a finance charge of which you can see I made on my account well before December 21st
GE Capital Consumer Card Co.
is a "creditor" by definition of 15 U.S.C. 1601-103-f (Consumer Credit Protection Act) and therefore falls under the federal jurisdiction of the Federal Deposit Insurance Corporation (FDIC).
GE Capital Consumer Card Co. has knowingly and illegally
- made a promotional offer of "interest-free" or "deferred interest" which, by its actions as enumerated below, it had or has no intentions of fulfilling, said offer falling within the definition of Section 226.2 of CCPA.
- has made it virtually impossible for customers (clients) to contact them in a timely manner by failing and/or refusing to answer telephone calls for periods of up to 7.5 hours (by placing the customer on hold for such lengths of time) and by failing and/or refusing to provide any means on its web site of contacting CareCredit by email or any other means than an unanswered telephone line.
According to their terms: (You can ask to have funds allocated) I fullfilled every obligation and payments were made ontime and met the minimum requirements.
*Applies to purchases of $300 or more made on the CareCredit credit card account. Under the promotion, no finance charges will be assessed on the promotional purchase as long as: (1) pay the promo purchase amount in full within 3, 6, 12 or 18 months (the "promo period") and (2) pay, when due, the minimum monthly payment on your account, which includes a required minimum monthly payment on the promo purchase. If you fail to satisfy either of the above conditions or account balance exceeds credit limit, all special promo terms may be terminated and finance charges may be assessed on promo purchase amount from date of purchase. On promotions requiring a minimum payment, payments over the minimum will usually be applied to those promo balances before non-promo and other balances. If you have a non-promo balance, this may reduce the benefit from the promo. If you want to change this allocation, please call 866-xxx-xxxx.
I have filed a report with the Federal Trade Commission which they have helped me in the past with good results. I have also closed my accounts with GE online service aka: CareCredit/Money Bank/GEMB. I found out we have another credit card through Lowes which is through GE, that I am going to pay immediately and close it! This company is vultures preying on unsuspecting people, who change the rules to benefit them, they have no intention of helping people like they claim. "We're here to help you" Baloney! They are like wolves clothed in Sheeps clothing.
I hope a class action suit is brought against this company I will be the first to sign up to provide proof of their underhanded practices.
U.S.A. Click here to read other Rip Off Reports on Care Credit