My daughter had some VERY expensive dental work done and I put the remaining balance on CareCredit with a 24 month promotional period. The monthly payment was very high, so when I had some unexpected bonus income come in, I made a large lump sum payment in order to reduce the amount I needed to pay each month to pay it off by the end of the 24 months.
When I made the first reduced payment after the lump sum payment, they charged me a late fee (it wasn't late) and added the remaining amount of the original monthly payment to the next month's payment. When I called to complain, I was informed that I was on a "fixed monthly payment" plan (even though it does not say that ANYWHERE on my statement - only that it is a deferred interest plan that has to be paid off within 24 months) and that, regardless of my lump sum payment, my monthly payment would remain the same until the balance was paid off. I discovered, when I logged into my account online, that the information online says that it is a fixed payment -- but it does not say that on the paper statement. I'm so pissed off.
Why on earth would I fork over a bunch of cash to them (on something that isn't costing me any interest as long as I pay it off 18 freaking months from now) if it wasn't going to make a difference in how much I have to send them every month in the meantime?
The lady on the phone was ridiculously unhelpful, and all she did was remove the late fee, and inform me that my payments would remain the same until the balance is paid in full. Shady, shady, shady.