CareCredit

Medical Credit Card Issuer Ordered to Make Refunds

Posted on 12/12/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsA dentist tells an older patient during an exam that she needs expensive treatment. She can’t pay the fee outright, so the dentist immediately arranges financing through a medical credit card plan. A month later, the patient opens her first bill and discovers that the card is not interest-free, as she’d thought. In fact, it carried an annual interest rate as high as 27 percent if she didn’t pay it off within a certain period. Richard Cordray, director of the Consumer …