GECCC? Does anybody have any info on this company? it's called care credit I believe. The address is po box 276, Dayton OH. is this a bank?
BBB shows a GECCC at 2 addresses, one in SD, and one in FL. But there appears to also be a GECCCC, which is GE Capital Consumer Card Co. (" GECCCC "), at various PO boxes in Dayton OH. They appear to handle retail credit cards for various retailers.
Care Credit appears to be part of GECCCC, and appears to be offered to patients of medical or dental providers to finance medical or dental care or procedures. The main problems that show up if you do a web search appear to be where a patient signs up for financing with Care Credit thru the doctor or dentist, and the doctor or dentist does not complete the job but charges up front against the Care Credit line of credit, and the patient is stuck with a loan for services not performed or not completed.
Thanks ontrack. recently my wife's dental office fooled her into applying for this loan,(without even checking her ins properly), in which her ins covered. they promised that they wouldn't check her credit, and cond her into applying for this "care credit program", however a hard inquire did occur on the same day, although if they had properly checked her insurance this would not have happened. The bad thing is she only has two good accounts, and 1 paid collection from Apex asset manag for 55 bucks, limited credit history so more inquire's she get's the lower her score is correct? I did send a certified letter yesterday demanding this inquire be deleted, what do you think they will do? she was tricked into this.
Did she sign a loan application? Did the dentist office submit the loan application and ring up charges against a loan? I would be less interested in the effect of the inquiry, since that will fade in a few months. There are 2 other issues: Claims submitted thru your insurance get checked by your insurance, and will probably be covered based on their schedule. If the dentist has a contract with the insurance company, they may even be required to accept those prices; if not, they will still likely accept close to those prices. Bypassing the claim submittal bypasses a check by someone in your court (your insurance company) that the charges are reasonable. In addition, if once you have applied for a loan, the office can just submit bills to be charged against the loan, without you first receiving the bill and checking it, it is as if you have handed a credit card over to to them. That seems to have been the problem in other cases involving Care Credit. A third issue is whether this form of credit is competitive with your cost of money thru other means. You might have cash, or cheaper credit thru a standard credit card, or a balance transfer to one. Why pay more for money than your current cost of money? It sounds like you have no need for any loan to cover her dental needs, since you have insurance, and can probably cover any co-pay. Tell the dentist's office to cancel the loan application, since you are not interested. Follow up in writing. Have them bill your insurance, sending you a copy of the bill. You don't want them paid until they have billed your insurance properly anyway. You then keep your checks and balances in place.
yeah she did sign it ontrack, but it was declined, her score is only 619 eq, and after our call to her insurance company they paid everything. However my wife is new to credit and I believe they lied to her when they said there would be no inquire or credit check, as far as I know after they submit this application information that she signed, and it was declined, they probley throw it away no ? I did send a certified letter to this "care credit" demanding deletion on 10 days, I also said this inquire was not authorized, and if not deleted I demand to see the original application with her signature on it. This was a foul up on the part of the dentist for not checking her insurance properly, and then lieing to her about this care credit. Can't the dentist call care credit and ask they delete this? what do you think? I also use this dentist, I have dental work I need done in the next few weeks. And inquires last two years right? this is a hard inquire?
For an inquiry, you have probably done what it is worth doing. If they take it off, fine. In 6 months it probably won't matter much. If her score is 619, you may need to look at other factors, since 1 inquiry is not the main cause of it.
