Complaint Review: Care Credit
Care Credit GE Money, GE Capital Retail Bank, GECRB 1 week late in payoff charged 42% of ORIGINAL Balance Internet
*UPDATE Employee: From CareCredit/GE Capital and would like to help
*REBUTTAL Owner of company: From CareCredit/GE Capital and would like to help
*Consumer Comment: Where did you get your numbers?
2 years ago my mom went in for eye surgery. We thought these guys were great, my mom is on social security, and could not afford to pay all at once - and with their help, she could have her surgery & take 2 years to pay - we borrowed $3300.
We faithfully made payments over the last 2 years, bringing the balance down to $765.
My mom had a bad fall, and we had to move her to a smaller, single story home - we were busily getting her settled, so we just made our regular payment on-line in October, without really looking at the bill.
When I looked at it, I found that the "promotional rate" had expired 5 days previous. They had applied interest charges of $1387.28 --- that is 42% of the ORIGINAL $3300 - basically tripling the total due.
I contacted them, to do a payoff, asking to negotiate this exteme interest charge, I explained the situation, and they were willing to reduce the interest by 1/2, assuming I paid the total the same day - which I did appreciate - but still seems like rape - more than $100 a day in interest !
I know that I am to blame for not looking at the bill earlier, and I fully expected to pay a late charge, or interest on the remaining principal - but REALLY -
I paid it, so as not to incur any more charges for my mom, but after paying it - I am getting angrier and angrier, and losing sleep over it.... You would think there would be some sort of grace period for a payoff.
SERIOUSLY CONSIDER any other options you may have before borrowing from these guys.
This report was posted on Ripoff Report on 10/31/2011 09:08 PM and is a permanent record located here: http://www.ripoffreport.com/reports/care-credit/internet/care-credit-ge-money-ge-capital-retail-bank-gecrb-1-week-late-in-payoff-charged-42-of-o-794041. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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