My dentist had me sign up for Care Credit after a very expensive root canal. The way it was explained to me at that time, was that I would have no interest on the account as long as I paid it off per the agreement. My promotional period expired in January 2009. Funny - how I did not receive a statement from Care Credit/GE Money Bank that month. Then my February statement shows up with a late fee. There was no mention at that time on that statement that the promotional period had expired or any interest charges. I called Care Credit & a very rude representative said they would not refund the late fee I was charged, even if my statement for January was "lost in the mail". I was upset, but accepted the inevitable on that issue & paid my normal payment.
I had forgotten that the promotional period was expiring & that I needed to pay off the balance orhave to start paying finance charges.
I just received my March bill this weekend. Now these rude scam artists have really messed with me. Since the promotional period is over, I am being charged interest for the full amount I opened the account on for the entire year. So, even though I now was only going to owe them $700, they charge me interest on $1,600 - over $300 in one charge. I called them today & was told that the interest was only deferred & this is in the original agreement I signed.This seems like it should be illegal. Especially with the funny business of not sending me a statement in the month the promotion expired.
I will also be going to the Better Business Bureau on this one & report the problems to my dentist.
I hope someone is doing a class action suit against these people, I'd like to participate.
San Jose, California