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CARE CREDIT

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Anonymous
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CARE CREDIT

So I really have been a loser the last 10 years regaridng my credit issues.  I have hovered around the 540-580 until/when I wised up about 15 months ago.  I have my Experian up to 640 currently (it was at 665) and my TU and EX were around 635.  Until today, when Credit Wise ran my FAKO score and it dropped 80 points

 

I can only think it was due to being approved for a care credit card and immediately owing the maximum card amount $1,000.  This account was opened BECAUSE MY ROTTWEILER NEEDED EMERGENCY LIFESAVING SURGERY and i really had little choice.  I requested the 6 months interest free offer, but as it turned out they stuck interest onto the plan (the plan was inaccurately conveyed between the Pet Emergency personnel to Care Credit)- so what was reported was a credit allowance of $1000, used credit $1000 credit avialable $0.00  (100% utilization) in addition, Care Credit already reported my account allowance of $1000 but also shared what interest accrued to date of $4 (from the time of service to when they begin reporting which  was a few days ago) so my CREDIT REPORT SHOWS  CARE CREDIT $1,000 CREDIT BALANCE $1004.00.  So it's being reported that as I understand it, I went over my credit limit by $4.00. 

 

OF COURSE, ASIDE FROM THE OUTRAGEOUSNESS, when the FAKO folks got wind of this, my score dropped 80 points.  Of course, if I paid everything to 0 my total credit allowances is 2k (yes, I know very small).  So considereding my balance on my Cap One account and Care Credit's reporting, my cc utilization rate is VERY VERY HIGH.

 

Question:

1. Aside that Care Credit is fixing the "no-interest" portion and wiping out that $4.00 or whatever interest has accrued and will change my account status - if I can pay off the $1000. how long will it take for me to redeem those 80 points I initially lost? 

 

 

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1 REPLY 1
Anonymous
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Re: CARE CREDIT

Don't worry too much about it. As long as you make on time payments of preferabbly more than the minimum and pay it off before the promotional period ends for the no intereste part of it then your score will rebound just fine. 

Message 2 of 2
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