Thursday, April 21, 2011

GE Care Credit Review


After my bankruptcy, funds are still tight. So when my cat got very sick, I wasn't sure exactly what I was going to do. Fortunately while doing some research, I learned about GEMB Care Credit.

There are a lot of nasty reviews out there for GE Care Credit but I could not be more grateful to them. Those nasty reviews are from people who didn't bother to read what they were signing up for.

GEMB is GE Money Bank and GEMB Care Credit is a health care credit card for you and/or your pet. You can go to any health care provider or vet that accepts this credit.

There is no interest on the credit that you get from GE Care Credit as long as you pay it off during the promotional period. The promotional period will depend on the amount of credit needed. Generally, the more credit you need, the longer time you will have to pay it off.

But miss a payment, or pay late and interest will kick in. I think this is what so many people don't understand. If you are a care credit cardholder you can pay the bill online, but make sure you pay it by 5pm eastern time on the day it is due (that's 2pm for me) or your payment will be considered late and you will be charged a late fee.

So read the fine print if you sign up for GE Care Credit. As long as you understand the rules, and are able to pay on time, you should have no problem.

The one drawback for me was only having a handful of vets to choose from but as far as I am concerned, the pet care credit was a lifesaver. I'm still paying it and if I don't get it paid off in the promotional period, and have to pay interest, it will still be worth it. My cat got the care she needed.


  1. The complaints I found generally center around the topic of CareCredit's 'optional charges'. The are very tight-lipped about what these charges are or how they are triggered. Do you have any information on that? Thanks!

  2. Hi Shanna. I believe the optional charges are for things like debt cancellation insurance, which is also referred to as credit insurance. This insures that the debt gets canceled in the event of the debtor's death, or under certain other circumstances.

    I just took a look at the website and there are other optional fees, like identity security something or other.

    I see that Care Credit's policy is that these optional fees must be paid off within the promotional period, along with the principal, for the no interest agreement to stand. It would be very easy to overlook, since the minimum payment required is not enough to cover the balance during the promotional period, and I imagine that a lot of people haven't read the fine print and end up getting dinged for interest because these fees were not paid off within the agreed upon amount of time.

    The important thing to know is that optional fees are just that...OPTIONAL. I didn't sign up for them, and no one else has to either.

    I think the reason that many people purport to despise GE Care Credit is that they don't bother to read about how it really works. The no interest deal is great, but you have to pay as agreed, and one slip-up can be costly. However, if you have no money and really need the health care, it is a great plan. Just be sure you know how it works (i.e. read/understand the contract) and are able to accept it.

    I also just noticed that GE money is changing it's name in October to GE Capital. Just something to note.

    Thanks for the question...I learned something today!


  3. I hate Banks in general as they are a regresive to the ecomomy. BUT, I needed Hearing Aides and a way to not use my small savings. I was offered $1000 for one year - interest and fee free through GE - Care Credit Bank. I divided the $1000 by 12 and paid on line one week in advance of the due date. NO PROBLEMS / NO FEEs. Used it again to save our dog's life. I employed the same payment method. This time I was two days late because of computer problems. I got a bill for $98 interest & $25 late fees. I called CC and courtesly explained my dilema and the fees were easily excused. Again no problems. In total I made 18 payments with 17 of them on time or early & one late payment.

  4. Hey, thanks for sharing your story. I hate banks too these days. Glad it worked out for you. I paid Care Credit like three minutes late online this month and hope I don't have any problems, but if I do, I am going to call them like you did.

    Good luck to all!


  5. As a senior citizen recent cosmetic surgeon patient who had the option of either putting surgical fees on several credit cards, or charging it on one Care Credit card, after explaining to the doctors office my intention of transferring a majority of the charges to lower and/or no interest credit cards after surgery, after making a $3,000.00 balance transfer, my Care Credit $202.00 per month payments stayed the same despite my four phone calls to Care Credit and the doctors office. Use any other method of payment other than Care Credit.

  6. That is definitely a shame. I think Care Credit is great for a lot of people, especially if there is no other way to pay. Sorry it didn't work out for you.

  7. This company should not be able to charge any body 30% interest, are you kidding me. I thought the laws changed to protect the consumer from such over charging. We have had this account for over four years and owe more now than when we took out $1,200.00 to pay a medical bill. We paid every month on time no late payments and called many of times to ask for a lower interest rate and was turned down for that request as many times as we called. So I would NEVER suggest them to anyone for anything. So to hell with them they can come and sue me and I will see them in court because no one i their right mind would agree to rule in favor of a huge company charging someone 30% while offering someone else 0% for the same loan.

  8. Yeah, lots of people feel that way. And I am now paying interest on mine as well. But, the way I see it is this - I had a reasonable amount of time to pay it off with no interest - I couldn't, but I would have been able to if I'd been working. And, there was no other way for me to get treatment for my beloved cat. No one else was going to lend me money (at no interest for 18 months especially), with my bankruptcy still fresh. But, I get where you're coming from. Hope it gets better for you.