GEMB Care Credit

[ngerasimatos]

I was wondering if anyone knows the minimum score for approval for Care Credit.

I need to get some dental work done and would like to complete it all at once, unfortunately I don't have 15k laying around so my dentist suggest financing through them. I wanted to pay 6000 down and the rest in installments.

[Anonymous]

Minimum approval must be pretty low, because my DH got it for me when I got my wisdom teeth out at the end of the year. It was great, because the procedure was really unexpected and one actually had an infection around it.

His scores were between 570-610 at that time. And the terms are AWESOME. 0% financing for 12 months, approved for like $1K.

BUT be careful... ONLY get this card as long as you intend to pay ON TIME ALL the time. If you pay under the minimum or pay late even ONCE, your rate jacks up to as high as 23-30%. There is NO GW for a single late payment or anything like that. They count on their customers not being able to uphold the terms and offer no forgiveness. I've read a lot of bad things about them, but all slated from the angle of very poor, uneducated consumers who couldn't pay off in time. Luckily we can totally handle this payment so we won't get screwed.

My minimum per month is like $28 or something, but I always pay $50.

[Anonymous]

I applied, got approved. During activation I requested for a higher limit and was granted. I think you need a very good reason for wanting a higher limit. But I think my score back then was mid 600's. So good luck.

[ngerasimatos]

Anyone know who they pull?

[creditdream]

if credit care handle by GEMB so i would say they pull from EQUIFAX,because i have 3 acc with them & all inq was thro EQUIFAX ,and i live in UTAH 

GOOD LUCK TO YOU .

Message Edited by creditdream on 03-26-2008 11:34 AM

[NICKI183]

I tried for this and they turned me down. I think because I asked for too much and my BK still appears on my credit reports. Oh well, will have to work out another plan for the kids braces. GEMB doesn'tlike me too much I have a few of their cards with low CL.

[Anonymous]

Care Credit is not frequently talked about here. I suggest you go to whogavemecredit.com to see who does.

[FretlessMayhem]

I thought GEMB is notorious for pulling TU.

[Anonymous]

I honestly don't know. That could very well be true.

[Anonymous]

CareCredit pulls EQ.

Regardless of scores, I wouldn't expect a $15K CL from them.  They don't (usually) go up that high for new cardholders.  When DF applied, the rep told her the most a new cardholder could get approved for was $6K.  (DF got $5.5K.)

Also, keep in mind that while their 0% financing terms are great, their policy is to charge retroactive interest if the 0% balance isn't paid in full by the time the promotional period ends.

So, if you were to finance $5K at 0% for 12 months, for example:

Pay late even once during that 12 months, and all accrued interest from the date of purchase is immediately added to your account and your 0% terms are cancelled (and jump into the 25-30% range).

At the end of that 12 months, if you haven't paid off the entire $5K balance, all accrued interest from the date of the purchase is added to your account immediately.

They do offer very good terms, but use them wisely!

Message Edited by cheddar on 03-26-2008 03:52 PM