A question about CareCredit

[tntexans72]

Hi tntexans72,

I've split your post off to start a new thread. That way the discussion on the other thread can stay on track. All I've changed is the title.

MarineVietVet, myFICO moderator

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I've been hearing alot about carecredit.com...curious to know what CBs they HP?

Thanks in advance for the infor.......

[Creditaddict]

CareCredit is EQ.  They are very good... I would ask for a lot! If you get instantly approve for what you ask for I would call in and probably ask for it to be doubled and see what they will go up to, they will counter if lower and it should not be another INQ.

[Anonymous]

It is a good idea to ask for a high CL with Care Credit.  If you have a $3,000 procedure and your CL is $3,000 - your utilization will be at 100%.  Better to ask for a higher CL, making it easier to keep your utilization lower.  

And, as always, watch your repayment to Care Credit.  They typically have a 0% for X# of months (or whatever - they have lots of different programs) for each procedure.  My experience is that if you only make the minimum required payment, you will still have a balance at the end of the special interest rate term; at that point the default interest rate kicks in and is retroactive back to day 1.  There are lots of horror stories online from folks who have been hit hard by that.  It can be a great help and then again, it can wipe you out.

Hope that's helpful.

[kjm79]

Carecredit is issued by GE btw. 

[tntexans72]

Curious to know if it would be easier to get approved if you went through the application process with a doctor? I guess it's more from a standpoint of apping for a CC in store vs. online. I have heard that face to face app or in store app have a more probable chance of approval. I would imagine these doctors have the backdoor # to carecredit analysts and they can easily request the amount needed to finished the treatment.

[Booner72]

When I applied my dentist told me to do it online myself.  My credit was in the 500's and that was my first account after BK in 2005.  They gave me 1000.00.  I love them.

[OnTheRebound]

My wife had a $2600 dental procedure scheduled last year. She applied online for Carecredit and was approved instantly for $2500. I immediately called and explained the situation. The nice lady asked how much I wanted but cautioned me not to ask for to much as she was sure they wouldn't approve $10K. She then asked if I would like to try for $5K. I said sure. Couple minutes later she comes back and said "You are approved for $5K CL". Her scores at the time were 730 to 750 across all three reports. Just be careful to pay the balance in full (as a previous poster mentioned) before the promotional period ends. Otherwise you will be hit with retroactive interest charges to day one.

If it means anything, she has a Lowes card (also GE) with a $10K CL.

[LS2982]

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@tntexans72 wrote:

Hi tntexans72,

I've split your post off to start a new thread. That way the discussion on the other thread can stay on track. All I've changed is the title.

MarineVietVet, myFICO moderator

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I've been hearing alot about carecredit.com...curious to know what CBs they HP?

Thanks in advance for the infor.......

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GE primarily pulls TU but they pulled EQ for me in MD.

Safe bet you'll get 1 HP on either TU or EQ. I would say more than likely EQ.

[Anonymous]

+1 for Care Credit. Was able to finance $2800 worth of work at 0%, will be paid off in four more months before promo ends.

Not sure about long-term, when the APR kicks in (it's pretty high IIRC), but I don't believe there's an annual fee... Plus, you can only use it for medical stuff, so it's less tempting to max out for gummy bears and a TV.

[UpNComing]

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@tntexans72 wrote:

Curious to know if it would be easier to get approved if you went through the application process with a doctor? I guess it's more from a standpoint of apping for a CC in store vs. online. I have heard that face to face app or in store app have a more probable chance of approval. I would imagine these doctors have the backdoor # to carecredit analysts and they can easily request the amount needed to finished the treatment.

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IME when you apply through the doctor you may avoid a HP for the card.  I went for Lakis eye surgery and applied through the doctors office.  I was approved for 3K.