2.7
62 reviews
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GE Capital Retail Bank - CareCredit Healthcare Finance Card

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GE Capital Retail Bank - CareCredit Healthcare Finance Card
 
2.7

(based on 62 reviews)

Ratings Distribution

  • 5 Stars

     

    (18)

  • 4 Stars

     

    (6)

  • 3 Stars

     

    (4)

  • 2 Stars

     

    (6)

  • 1 Stars

     

    (28)

42%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

No Best Uses
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Most Liked Positive Review

 

An excellent financial tool, if you use it VERY wisely

Well, I got this Care Credit card because my dental insurance would not cover all of my considerable dental work. It was suggested by my dental office. They told me that this card...Read complete review

Well, I got this Care Credit card because my dental insurance would not cover all of my considerable dental work. It was suggested by my dental office. They told me that this card offers excellent promotional plans. My dentist charged two thousand dollars on there at once, and it qualified me for an 18 month deferred interest rate. It was a credit on my account and all subsequent bills were taken out of it. At the end, I ended up with a credit, which my dentist credited back to the card. Everything went smoothly.

This card has a HUGE interest rate, currently 29.99%. That is out-of-this-world crazy high. If you do not pay your balance off at the end of the promotional period, you are back-charged that rate for all 18 months, and then you accrue the huge interest for the life of the balance. It's quite a hit. I wanted to wait until my promotional period was over and I paid it off until I wrote this review. I wanted to detail the whole process.

You would think with a credit card like this, they would try to scr*w you seven ways to Sunday, but they do not. The statements clearly show which balances expire when, and they show how much deferred interest has accrued so you know what is coming. When a balance is close to the end of the promotion, you get a separate email, and a note in the statement telling you your promotional period is ending soon.

When you send them payments, they apply the payment to the promotional balance that expires first. I had two big charges from the dentist, and I put $75 on there separately, not on a promotion. My next payment should have paid that one off, so it did not accrue any interest. I didn't notice it had not been paid off until some months later. I told them about it, and they applied the next payment to the charge, and then went back and removed all of the interest that accrued as a result of the mistake.

When my promotional balance expired on September 9, 2009, I overnight mailed the balance three days before. I will admit I wanted to see if they were going to mess with me. Next statement, the promotional balance was totally paid off. No loophole, no trying to stick it to me, so they could get the huge interest back payment. It was **not** too good to be true! They charged me $5.00 per month as a service fee, even on promotional balances. Pretty fair.

Which promotion you qualify for depends on which procedure you are getting done and the amount of the charge, so you need to talk to your provider about your options. It can be used for a variety of medical procedures not usually covered by insurance at participating providers. Veterinary services, cosmetic surgery, laser treatments, and dental procedures are some of the work covered by the Care Credit card. You can go online and see if there are providers near you that take the Care Credit card.

This card is issued by GE Money Bank. As far as your credit score goes, it falls under the category of credit cards issued by stores, not traditional banks. So, it's less favorable that way, but a normal bank wouldn't give you such great promotions, so I think the positives outweigh the negatives in this circumstances.

If you can pay your promotional balance off in time, go for it! Don't use it as a regular credit card, though. You will pay through the nose.

VS

Most Liked Negative Review

 

Word to the Wise: Don't get involved with this crooked company.

Now that I know what I know and have experienced doing business with this company, I would recommend everyone to stir far away from it.  Due to the course of my work...Read complete review

Now that I know what I know and have experienced doing business with this company, I would recommend everyone to stir far away from it.  Due to the course of my work in the IT field, I routinely visit many, many doctor's offices and can attest to the fact that at least 9 out of ten doctors promote this company.  Sure, it is convenient for them because they are paid quickly, but care little or know nothing about what it is about to do to their patients.  Well, at the beginning it is great.  You are receiving your statements in the mail, paying the monthly amount on time and then out of no where .....zap.  You receive a bill with a late fee of $39.99 and a ridiculous increased interest rate of 29.99 percent, which I believe should be illegal.  Come to find out, if you are not cautious, the company reserves the right to change your payment due date.  You see, I had it set up for automatic bill pay with my bank, but the due dates were changed 3 times during the second year which caused one of my payments to be late.  Fortunately I caught on to their shenanigans after the first time they did this to me and was very cautious at carefully reading all the tiny print every single time a statement came in the mail.  They are very tricky so watch out.  Recently I discovered that they check your credit report constantly, which can't be good for your credit standing.  I have been with this company 2.5 years and on my recent TransUnion Personal Credit Report this company (Care Credit/GEMB) shows up under Inquiry Analysis 54 times - mind you that the 54 inquiries have been made within the last 90 days.  This is another way they will screw with you, your wallet, credit report and well being.  Stay away from this company, I cannot stress it enough.

Reviewed by 62 customers

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5.0

Excellent in an emergency

By 

from Mount Carbon, WV

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

This is a good card to have if you have a dental emergency or even a pet emergency! They payments are easy to make and they are very helpful. I recommend this card for everyone

 
4.0

Good for medical emergencys .

By 

from Florida

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

The CareCredit card is a credit card designed for medical expenses. It is available to people who have medical issues that can be expensive or for their caregivers. For a a few years I acted as a caregiver for my grandparents and great grandmother, during this time I had a CareCredit card.

As we all know medical expenses can be outrageous in general, but when you add conditions or diseases it becomes so much more so. And insurance only covers so much. At the time that I was caring for the grandparents, between the three of them there were two cases of diabetes, bone cancer and kidney failure. All three diseases involved a lot of medicines, specialists and doctors. This card saved Me more than once.

All of that being said, the rates are good and it is a really easy card to use and to understand. Kudos on them making an all around good card especially for medical needs. More credit card companies should follow their lead.

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(2 of 2 customers found this review helpful)

 
1.0

You don't NOT want it if you REALLY don't need it.

By 

from USA

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

I was offered Care Credit Health Care as no big deal when I was sent to an oral surgeon and needed an implant to save my tooth. Of course my insurance didn't cover a penny. I was just shoved a piece of paper, told to fill out my husbands info and they would call and it would all be taken care of. We could of course do it in monthly installments. I was quite out of it from anesthesia and gas at the time and not at any time (yes I would remember) did they mention the astronomical interest rate. It was so many years ago and I think back think it was 37.5 %. Of course my husband almost had a had attack BUT I was told to fill out his name and sign his signature. I know..my fault. But still they need to make sure you are fully aware of your surroundings and go through each page one by one VERY slowly. Just my opinion. Now if your child really needed braces and it wasn't too awful expensive maybe this would be the way for you to go. Just saying, it's not for everyone.

Customer Service
they didn't explain anything and were of no help at all if you tried to call.

Available Rates
they didn't give me an option of a rate. I wasn't aware their were available rates.

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5.0

I have had the pleasure of owning a CareCredit Healthcare Card.

By 

from Muskegon, MI

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

Several years ago, I obtained a CareCredit Healthcare Card for Dental care I had done. I was approved for $2000, for Dental Care that I needed done. With my insurance that I had at the time, I only needed CareCredit to cover approximately $600 for the completion of my Dental work. At the time, i was given the option to repay the $600, without interest, within 6 months. If it took longer than six months to repay, then interest would incrue. But I repaid the loan within 6 months and did not use the card for anything else. In approximately, a year or two afterwards, I received a letter from CareCredit stating that my account was closed. I assumed this was because my lack of use. I haven't had to request any assistance for any Healthcare costs since this time. But my approval for this card was a "Godsend", because I didn't have the cash money for the dental work I had to have done. I find that certain Dental Clinics will try to help patients obtain credit through CareCredit for medical procedures they may be unable to pay for themselves. It's a good Card to have if you don't have Medical Insurance or if your Medical Insurance doesn't cover certain things.

Customer Service
I really didn't have to contact Customer Service while I had my CareCredit Card.

Available Rates
The rates didn't really apply to me, because I repaid the amount I owed within the six months without interest.

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5.0

Really easy

By 

from USA

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

This really came in handy when my cat had to be hospitalized. I had never heard of it before, however my veterinarian was very knowledgeable on the card and even had a laptop I could use to apply right then and there.
The card was very easy to apply for, and approval was quick. There were only a few basic questions. The vet gave me a temporary card to use and my actual card was here a week later. The instructions are very clear and straightforward.

Customer Service
The website was very easy to register for and all of the info is at your finger tips. Providers they work with, payment schedules and other useful info was right there in big letters on the site. You can set up one time, or even multiple payments and they don't make you enroll in electronic billing. I appreciate getting a paper copy at least for the first few bills.

Available Rates
6 months free financing if paid in full for any service over $200 was a huge relief! I can make those payments easy, so that it much appreciated. The normal rate sucks, but you'll have that with any credit card, and it was right there in big bold letters with my card, so there is no excuses for not understanding.

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4.0

Horrible Rates but Good Promos, Nice Safety Net

By 

from Hartford, CT

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

We recently had to apply for this card when our dog began a series of injuries and illnesses; we had practically drained our savings and knew there was more to come. We didn't want to ever hesitate or prolong medical care for our baby, so we finally applied and were accepted to this credit card/program.

It's an actual credit card, but can only be used in limited circumstances/places. We primarily use it for the vet (many accept it but some do not) and figure it can come in handy for the dentist in case of emergency. We have a decent line of credit, and they defer the interest for periods of time depending on the charge (6 mos over $199, 12 mos over $499, etc). We set up to pay online and can pay a minimum each month or more towards the balance. The APR is outrageous (over 25%) but if we pay it quickly we shouldn't see too much extra cost by using this.

It's a relief to have a line of credit that can't be used elsewhere, so even when money's tight our baby has her own emergency fund.

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5.0

Care Credit is a lifesaver if you use it wisely

By 

from Louisiana

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

I recently had a bunch of dental work and I didn't know how I was going to pay off my debt. A friend suggested Care Credit and I am glad that I looked into it. Care Credit allows you to charge for things like dental work, vision, vet charges, etc. If you pay off your balance within the agreed term, 3,6,8, or 12 months then you do not have to pay any interest charges. If you do not pay off your balance in full though, you will have to pay interest on the full original balance. The card is great if you can't pay off a balance in full in one lump sum but can manage it in smaller payments. Most dentist's do accept Care Credit and they typically do the 6 or 12 month payment agreement. The sign up process is very easy and the customer service reps are very knowledgeable and helpful. They answered all of my questions and helped to explain the entire process. I am almost finished paying off all of my balance and will avoid paying interest charges. If you do not pay the entire amount within your period, the interest charges are astronomical. Do not get this card if you know you can't pay off the balance by the end of your agreement.

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5.0

Perfect for medical!

By 

from Elko, Nevada

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

My husband has had bad eyes since he was a child, he always had to have his contacts in or wear glasses, and I wanted to surprise him with the gift of new sight. I got this card so that I would be able to purchase Lasik Surgery for him. Our insurance only gave of 5% discount on it, so it was a very expensive procedure, so getting credit for it was our only option at the time. The rates on the card are not too high and the payments that they have for it are very convenient, you know exactly how much you are going to pay from their pamphlet before you even borrow the money and put it on the card. It made it quick and easy and now we have paid it off but keep it and have had used it to pay for dental procedures or emergencies that were not all the way covered by our insurance. I even saw that our local vet takes care credit, which is nice to know that way if our little pets ever need to go and have something we have more options.

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3.0

Care Credit does not really care!

By 

from USA

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

I have had a "Care Credit Card" for about four years now. I must say I find having "Care Credit" very useful, especially with my dental bills. There are a few drawbacks though as I see it, one being the promotional period ends quickly. The promotional period is usually like six months interest free, so you feel pretty safe. But it's been my experience that if you don't get the entire bill paid off in that promotional period your doomed! This is an example: my first charge to the card was for several thousand I had six months interest free with fifty dollar payments per month. Well that does not make sense unless you are a loan shark. After six months the interest goes up to like 28.99% and it would've taken me ten years to pay them off. However I figured this out very soon like on the first statement and made six large payments. Thereby paying the entire bill off within the promotional period. So basically my advice to you, only use this card when you must and never for more than you can pay off within six months, or you'll be in debt for years.

Customer Service
Every agent I've ever spoken to is very helpful.

Available Rates
Horrible interest the only thing they have going for them is the six month interest free. But after that you will be hard pressed to pay the bill in several years because of the high interest.

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5.0

Lifesaver in Time of Need

By 

from USA

Comments about GE Capital Retail Bank - CareCredit Healthcare Finance Card:

Unfortunately I had to apply for this at the beginning of this year when I took my cat Tigger to the vet. She ended up being very sick and I never could have afforded the vet bill on my own. I was approved for this card and it made all the difference in the world for me. Sadly, only a few days after the initial visit I had to have Tigger put down but I didn't have to stress about how to pay for all the services. I even was able to do 18 months interest free. The best part was finding out that I can use this card for other healthcare related charges.

Customer Service
I haven't had to actually call anyone about this card so I can't honestly say how good or bad they are. I'm just happy with the promptness of receiving the new card and my bills.

Available Rates
The rate isn't exactly the best but that could be on me and based on my credit. The fact that they offer interest free periods to pay off your balance is really amazing. I have the availability of paying this off before adding additional charges.

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