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CareCredit by GE

Valued Contributor

CareCredit by GE

I currently have a 584 that should increase after I get my cc's paid down over the next couple months.  Currently sitting at about 60% utl if I'm figuring right.   I need some major dental work done and vision stuff done.  Is it worth it?  Anyone's experiences or advise would be helpful.  I wont be applying for a couple months.  I am assuming my score will be higher when I'm ready to apply.  I read some threads about it.  Do they approve you of a CL based on your score or based on what you need done?

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



Message 1 of 14
13 REPLIES
Valued Contributor

Re: CareCredit by GE

    It is a tough call because it is important to take care of yourself in medical terms. However if you can avoid putting it on a credit card i would at all costs. Do you have a famly member you could borrow money from? I think it is doubtful you will be approved for this card and it certainly isnt the highest reviewed card in the world. Also, who said that you have to get a medical themed card for paying medical expenses? You don't. Depending on your health, I would try to pay down your utilisation first. Depending on what state you live in and your financial situation you may qualify for government assistance with healthcare. Good luck.

Message 2 of 14
Established Member

Re: CareCredit by GE

I applied for care credit about 6 months ago, I was originally given a 1500 CL with a score of around 660,  if I remember correctly they ask how much of a credit line your looking for when you first apply, I believe they take that and your credit report in to consideration.

Message 3 of 14
Valued Contributor

Re: CareCredit by GE


dddewdrop wrote:

    It is a tough call because it is important to take care of yourself in medical terms. However if you can avoid putting it on a credit card i would at all costs. Do you have a famly member you could borrow money from? I think it is doubtful you will be approved for this card and it certainly isnt the highest reviewed card in the world. Also, who said that you have to get a medical themed card for paying medical expenses? You don't. Depending on your health, I would try to pay down your utilisation first. Depending on what state you live in and your financial situation you may qualify for government assistance with healthcare. Good luck.


   I just realised I didnt answer your question. They will approve your card based on your credit score and other financials. They are not out there to help you with your health. They are not in business as some benevolent organisation.  In fact, if they could discriminate ot even find out your health status they probably would be less likely to approve you  the worse your health was. Think about it. They are in business to make money. The sicker you are, the less likely you are to pay them back. I believe it is illegal or should be to discriminate in that way but they will approve you based on your financials. If you talk to anyone on the phone about the card I would refrain from mentioning any operations you plan to have in the future. I would not share that information. Seriously.... Good luck...

Message 4 of 14
Valued Contributor

Re: CareCredit by GE

I have never considered applying for something like this in the past, I have just went without.  The dental is 50/50 cosmetic/necessity, so it can wait.  The vision stuff however is a need, a must.  I don't borrow money unless it is an absolute emergency.  So I wouldn't borrow for this, I would just deal with the old glasses I have currently.  If I choose to apply for this I wouldn't bother applying until I get my current cards paid down and my score goes up.  I don't want to risk a HP only to get denied.  From what I've read it sounds like they give much larger CL initially vs. a cc.  My first cards was approved with a $300 CL with a 560ish score, second cards was approved for $500 with a 584ish score.

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



Message 5 of 14
Valued Contributor

Re: CareCredit by GE

Sounds like you are taking a very sensible approach.

Message 6 of 14
Established Contributor

Re: CareCredit by GE


Shellie wrote:

I currently have a 584 that should increase after I get my cc's paid down over the next couple months.  Currently sitting at about 60% utl if I'm figuring right.   I need some major dental work done and vision stuff done.  Is it worth it?  Anyone's experiences or advise would be helpful.  I wont be applying for a couple months.  I am assuming my score will be higher when I'm ready to apply.  I read some threads about it.  Do they approve you of a CL based on your score or based on what you need done?


 

It's worth it because they have great financing plans...

However when I applied the first time, I was declined. I already had my BoA card and a bunch of store cards, Yet I wasn't approved... My mom had to co-sign for me. Just think about that, Be ready to have someone co-sign for you.

ManiacGamers.comManiacGamers.comManiacGamers.comManiacGamers.comManiacGamers.comManiacGamers.com*****$20,000***********$6,500************$4,100************$3,500***********$2,500************$1,000****
EQ - 688 (10/9/13) | TU - 705 (02/18/14) | EX - 701 (10/9/13) | CS Fako - 717 (10/4/13) | CK Fako - 697 (11/05/13)
Message 7 of 14
New Contributor

Re: CareCredit by GE

I applied with a TU of 615 and  was declined, had to reapply with my husband, who is in the 700s and was approved for $4200, which is what i asked for.

2/18/15 via Discover's FICO 649
3/11/15 via Walmart's FICO 692
Cap One Platinum $2250 Discover $700 VS $2350 Belk $700 Care Credit $6,200-co-app w/ husband Walmart $650 Cap One $2250 Plat Prestige $1,000 Chase Freedom $7000 AmEx $1500
Message 8 of 14
Established Contributor

Re: CareCredit by GE

they have 0 APR for a few months so FYI

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Message 9 of 14
Valued Contributor

Re: CareCredit by GE

I won't be applying for some time.  I need to pay down my other cards and see what my score looks like then.  I don't want to risk a HP for a denial.  I have been striving for no more HP until I go for a mortgage.  I just wanted everyones oninions and advise.  Does this help your score in any way or hurt?

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



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