Carecredit or another Credit card

[Creditaddict]

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@user5387 wrote:

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@kroberts67 wrote:

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@user5387 wrote:

It's worth noting that CareCredit uses deferred interest -- if the balance is not paid in full during the promotional period, then the APRs are applied retroactively.

This is different than a CC promotion with a 0% purchase rate for X months.

http://www.carecredit.com/cardholder/financing_options.html

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If the balance isn't fully paid off by the 18 mos, I'm thinking you can bal trasfer to another 0% card, is that right?

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Deferred interest is retroactive -- it doesn't just start applying after X months.  You might be able to BT, but you'd owe back interest from the purchase date.

The CareCredit link says this specifically.

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again as long as the balance is paid BEFORE the 0% ends, it doesn't matter if you pay it Via BT to another card... just as long as CareCredit (in this case) shows the entire promo balance is paid off.

[user5387]

Yes, you could BT out the balance before the end of the promotional period, and avoid all interest.

If you don't, then the back interest would kick in pretty hard.

[CenturyChild]

I think Care Credit is worth having. So long as you pay it off before the Promo ends.  Some providers even offer 24m at 0%. 

But each provider is different and don't always offer all the plans. 

However, some providers may bend thier own rules to suit your needs. 

 For example, they may only offer up to the 12 month plan, but may let you have a 18 month plan if you need it.

You just need to talk to them about it ahead of time so they can run  it through that way.  Something like that will be between you and your doctor.   Care Credit will finance it however they run it through.

Also, keep in mind Care Credit can carry multiple Promos at one time, and covers everyone in your household. Even your dog and cat!!

Its a good card though used the way it was intended, but as mentioned many times you really need to watch the Promo expiration date because the interest is high outside of Promos.

And the other thing to consider is how often do you see yourself needing to finance medical care/services?  CC will always have Promos.

Where as the Citi will loose its 0% after 15 months.

Both good ideas with advatages and disadvantages to both. Just depends which will suit you the best in the long run I suppose.

[RushXTC]

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@CS800 wrote:

I noticed that the standard APR is about 26%.

The promos gets you 0% for 12 or 15 months. Am i better off getting lets say a Citi TY preferred that gives me rewards and 18 month at 0% (got the promo by mail)

Have to put about $5K for medical expenses on this card.

Any feedback much appreciated.

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I'd go with CareCredit.

Right now it's 18 months no interest (If paid within those 18 months), If you get the Citi TY Preferred, You'll get 18 months... but what happens after those 18 months? Regular APR.... Carecredit gives it to you on every qualifying medical payment from the date you pay it.