I had cataract surgery that I could not afford to pay out of pocket. My ophthalmologist recommended Care Credit (GE Money Bank) with a supposed two-year no interest loan if paid in full before the end of the two years.
I read the contract thoroughly before signing it and it did not say anything about any fees or adjustments that would be added to the bill. However, every statement has had a "fee" or "adjustment" of $60.00 or more (depending on the amount of the payment) deducted from the payment made and the remainder is all that is applied toward the principal of the loan.
This is just interest without calling it interest. It's a blatant fraud and scam to get people to use their card.
Product or Service Mentioned: Carecredit Credit Card.