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Gemb / Care Credit / overcharged interest fees / settlement

1 AK, United States Review updated:

I had a $3, 200.00 Balance (approx.) on a care credit card with no interest for one year and 21% interest. I had a balance of approx. $280.00 at the end of the one year period with no late payments and high payments early in the first three months of the pay back schedule that brought my balance down below $1500.00. At the end of the one year period I received a bill for approx. $672.00 for interest due which is the annual interest rate on a total balance of the $3200.00. I called to protest the charges and told them I would only agree to a charge of the interest of 21% of the actual monthly balance for each month not interest on a balance of $3200.00 since my balance was not $3200.00 each month. The person I spoke to said those are the charges and there was nothing she could do about it. I spoke to her manager and they took down my name a said they would look into it and get back to me, (never happened).I stopped making payments for 60 days until I could settle my dispute (my bad). GEMB agreed to adjust the charge to the interest for the actual balance and we settled at around $425.00 which I paid off over the phone with the customer service agent. I started getting derogatory reports in my credit report for a charge down that continues still and seems to get refreshed each year. I settled for the full amount of the interest for each monthly balance and believe the charges were wrong in the first place. Was I wrong or within my rights?

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Comments

  • La
      24th of Oct, 2008
    0 Votes

    File formal complaints with the Federal Trade Commission and the Office of Thrift Supervision.

    GEMB violates the Fair Credit Billing Act and the Fair Credit Reporting Act regularly.

  • Il
      16th of Jan, 2010
    0 Votes

    Can Anybody Help Me????

    My dentist suggested several financing companies to cover for the insurance non-covered amount for dental work done to me back in Oct. 2008.
    The only company that, to my knowledge, agreed to grant me the credit for the amount of $8, 400.00 was Wells Fargo Company, from whom I have all paper work and a dental care credit card.
    Just recently, 15 months to be fact, after the dental work started, GEMB credit sold "my account of $8, 632.00 plus the interest accrued", to a collections agency for non payment on an account I had no knowledge I had with them. The collection company contacted me on January 13, 2010, and is now aiming to collect the amount of $11, 226.89. What can I do?

  • Sa
      18th of Feb, 2010
    0 Votes

    I've worked hard over the past 2 years to pay off my Care Credit balance.
    I paid $200 on 01.21.2010, an additional $50 on 02/04/2010.
    I received my income tax refund earlier this month so I called Care Credit to get my account balance so I could pay it off. The account balance as of 02/07/2010 was $1, 076.96. I logged onto my online bill payment account with my bank and made the payment. I was so relived! My bill was paid, so I thought. The total amount I paid in Jan and Feb was $1, 326.96.

    Yesterday, 02/17/09 I received a bill from Care Credit stating that my New Balance was $546.13. I looked over the statement and it shows that my "Previous Balance" was $1, 326.96. It also shows the payments made (listed above) with the last payment made on 02/12/2010.

    The description given for this $546.13 was "Finance Charge". I called Care Credit immediately. I waited 45 minutes before being transferred to a representative. I asked why I was receiving this bill when the account balance was paid off earlier this month and the account had been closed this past November. The first representative said that this was the balance because of my “account payment history” which made NO SENSE at ALL. I then asked to speak with his manager. He then transferred me to Kyle (Employee number 74222) and he rudely asked if the previous rep had explained the charges. I told him that the rep mentioned “payment history” and the rep said that was correct yet he was unable to explain to me what that meant. I then once again asked him why I was receiving this bill for the account balance had been paid earlier this month, he said it has to do with a letter Care Credit claims they sent me back in November stating my payment history. What does that mean? He not once gave me a response to what that meant. I then told him that when I call and asked for my balance I was told that my balance was $1, 076.96.

    Balance to me means my obligation. This is the amount due on my account as of that day. (My balance as of 02/07/2010 was the remaining $1.076.96 which was paid immediately) Once this amount is paid on my balance my balance then should be $0. Am I wrong for thinking this? SO, because I paid that balance off, I should no longer have a balance. Correct? This is exactly what I told Kyle, the Care Credit Rep.

    Kyle then rudely said “so if they would have told you that your balance earlier this month was an additional $546.13, you would have paid it?” and I responded with “Yes, that is correct because that would have been my Balance, and yes I would have paid it” The rep said that that was my balance and that there was nothing he could do about it. When I requested to speak with his supervisor he said that he could not transfer me to anyone and that the next step was for me to write a letter to Care Credit.

    I believe this is an unethical practice should be addressed. I would like somebody to explain to me how this can be considered fair and legal.

    ~Sandie

  • Sh
      3rd of Jan, 2011
    0 Votes

    Thank you all for this very information information. We have an emergency situation with our dog (unexpected surgery) and our veterinarian suggested CareCredit. At fist I said no, because I've always felt that ZERO INTEREST "so long as you pay it off within a specified time" sounds too good to be true. THEN today I stopped by my veterinarian to get the information so I could research the company on the complaints board as well as /link removed/ ... amazing how many people have tons of negative things to say about this so called "Care Credit" ... it sounds to me like they "care less" about people, their payments and treating their customers with honesty and respect. THANK YOU for posting. Because off all I've read and researched, I would rather take a personal loan through my credti union and pay interest knowing that at least I will be treated with care. As far as "Care Credit" they will never be someone I turn to for help. Sheena - Virginia Beach, VA.

  • Hu
      22nd of Feb, 2011
    0 Votes

    I used GEMB for my dentist many years ago and had the same problem of paying off the promo amount and being told after the promotion was over that they gave me me wrong amount and then proceeded to add late fees and interest on this disputed amount. It took me a year to clean up the mess GEMB left me with my credit. Now I find that I am once again their victim. I found out that my hearing aids are financed by GEMB which I would not have bought if I had known the company I they were using. Now I sent in my payments a week in advance, they do not have their PO box mail delivered except for once a week. Hence the late payment fee and GEMB adds interest to the late fee. I have never seen such crooks. I am going to try all the previous suggestions on reporting them. AND I will pay off the promotion in four months and mark my words GEMB will find a way to say I did not pay off the promotion in one year's time.

  • Ge
      30th of Mar, 2011
    0 Votes

    I just received my bill from care credit and they are charging 234.00 interest on 250.00. They said that the dentist office decides what the terms are(pay off time). Why would the dentist decide what the terms are when they aren't the ones you are paying? If you make a payment on-line then it doesn't go through until they can charge you late payments. GE Money is a scam and they change the rules daily.I don't know why Obama had to bail them out, they should be rolling in money from their unethical practices.

  • Ma
      19th of Apr, 2012
    0 Votes

    Its not "CareCredit" that is the problem, its the credit issuer. GEMB, and all its subsidiaries.
    They also took over as the issuer on a number of cards I have, one being Chevron Texaco.
    I made a payment due the 24th of the month on the 3rd of the same month.
    The next month I get a late payment fee, because they applied my payment to the last months billing cycle, despite the fact that that months payment was made and on time.
    I asked why they would apply a payment made in one month, to the previous month, and they said because I made the payment too early in the month for which I was wanting it to be applied.
    So, being on time or early even, is not what they want.
    He suggested I wait until closer to the due date to make the payment.
    I called him a ###ing crooked lunatic, but hes in India, so it doesnt really matter.
    Complete and total disconnect with their customers, is the sign of an unscrupulous business.

  • Sl
      28th of Jun, 2014
    0 Votes

    Care Credit has caused me to barely survive. It's been awful! II haven't even recieved a letter. Any suggestions tjordan68@att.net

  • Sl
      28th of Jun, 2014
    0 Votes

    I haven't recieved any type of letter pertaining to all that interest. Can anyone explain the next steps in filing suit., becuause I no that I have been duped..!! Thanks

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