I had a CareCredit account that I had last used in summer of 2014 which I'd had over $4000 worth of activity in over the previous 20 months and had completely paid off in December of 2014 get closed down with absolutely no notification in December of 2014 or January of 2015. I found this out in approximately February of 2016 when I went to a dentist to have a removable denture fixed for a cost of $89.
In that time I had as I mentioned had over $4000 worth of dental work done on an 18 month zero interest basis that I was not able to pay off in 18 months. Because of this, I ended up having about $1800 in interest charges added back into the loan at the point where I had paid off about $2500-$3000 of the original balance. I got a 401K loan in December of 2013 which I had planned to use to pay off my entire credit portfolio including this loan, so I did. I paid the entire balance including the tacked on interest, all at once. This increased my limit to approximately $5000. In July or August of 2014 I had this same dental appliance fixed at the same dentist for the same amount of money, but forgot I had used the card and was 30 days late making the payment. I did make it however and my limit had not been reduced as a result of the late pay - in fact, I don't even think it was reported to the credit bureaus. My debt to income ratio went way up in the latter half of 2014 due to a layoff, and the subsequent need for more credit use, but at the time my score was 760+ and it had only gone down to the 740's by the end of the year.
There is no reason for my account to have been closed in the first place. But to have had that done without any notification whatsoever being provided to me - EVER, is the most unprofessional and unethical thing I can imagine them doing. And still to this day, if I call the number on the back of my card and give them the number, it still has record of my account and says closed.
How do they do business like this?
Product or Service Mentioned: Carecredit Account.
Reason of review: Poor customer service.
Monetary Loss: $5000.
Preferred solution: I want an explanation of why my account was closed and/or a restoration to some form of an account. But account or not I want the expalantion and an official notification in writing..
I liked: That i was approved for a credit line.
I didn't like: Shady practices, No account closure notification, Poor customer service, No correlation between payment history and account status, Low balance does not equal good standing.