How does care credit make sense !?

[Firefly_1984]

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@OnTheRebound wrote:

I hate Carecredit!! Big Scam!!! I used it to pay my $25 office visit copay expecting 6 months/0%. But no, they demanded payment in full!!! Crazy! 

Relax folks, I'm just joking!

Seriously, I love CareCredit. Back in Jan, 2014, my wife and I got new glasses for a total charge of $516.00. Now, for that amount I was expecting 6 mon/0%. But jeez, they gave me 18 months! Minimum payment is $25. Been paying $35 a month. $61.00 remaining and 2 more payments. This was a perfect opportunity to stretch it out as long as possible to keep the account active since we don't use it very often. Plus, I love free money.

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I just spewed Coke ALL over the new Toshiba Satellite Radius I just charged to my Amex, pal! I'm gonna make you pay the rest of the balance... $600 big ones!  (kidding too. But the computer is real...and dry.  LOL)  

Care Credit really is great.   To me, paying off $3100 was a LOT less painful than the root canal I had to get.

[Goblin]

Some care credit users have the card for aesthetic procedures as well; rhinoplasty, breast implants, Botox, etc....

I have never seen insurance or government programs cover any elected procedures such as these.

[Anonymous]

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@Goblin wrote:
Some care credit users have the card for aesthetic procedures as well; rhinoplasty, breast implants, Botox, etc....

I have never seen insurance or government programs cover any elected procedures such as these.

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hmm... I could use that implants stuff.... where's that care credit app?

oh by the way, for credit card app addicts, have you applied for Citi Health Card yet?

[happypill]

According to various recent news stories:

1. The average deductible under ACA plans is $6k-$8k

2. Over 50% of Americans do not have enough savings to deal with a $400 unexpected expense

That's why Care Credit exists.

[Imperfectfuture]

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@gdale6 wrote:

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@Anonymous wrote:

It's a credit account to be used for medical expenses/Dr. Appts from what I see .... But isint that the whole point of the ACA so healthcare be "affordable" and you don't drown in debt so the dentist tells you , you need to floss ..... I have seen it at a couple of Doctors , how does it really work I must be confused , what if a person off BK needs the credit for a medical treatment ! Does he/she get denied because of bad credit ?! 

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Without going too far into politics, the ACA doesnt make anything "affordable" unless you get medicaid. Deductibles and copays run into the thousands before insurance even pays a dime for most people and for families its in the 10K plus range before insurance pays a dime....

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Seriously, need to change insurance policies.  Been around the block here (and I'm not on Medicaid, totally out of pocket dental), and I have seen very few insurancee policies with 10k out of pocket costs.  Even HCA's aren't that cost prohibitive.  Just my 2 cents.

[JSS3]

What I don't like is them closing it after a seemingly short period of non use. Healthy people won't need back to back treatments. It's not right to go and close the card since it's a hard pull. Leave the card alone. Maybe something else will come up later that you'll need it for.

Don't they also slash limits?

Wait...did someone say new bubbies? They cover those too?

[SunriseEarth]

As a general reminder, discussion on the merits of the ACA are considered political discussion, which is off-topic for this forum.   

However, going back to the OP's question, I'm not sure I even understand the relevance of ACA in this discussion.   AFAIK, Care Credit would not be accepted by a Primary Care Physician, an urgent care clinic, or an ER.   Care Credit is used for fields like vision, dental, vets, and cosmetic work.   I've used mine to cover dental work that exceeded my dental plan.   Also, when I didn't have a vision plan but needed an eye exam and glasses, I used Care Credit for that.

Care Credit is essentially a store card for the fields mentioned above.   They offer special financing based on the amount of the procedure.   The advantage this may have over a standard card with a 0% promo period is that it won't tie up that card and you can get special financing offers at any point, not just solely in the first year and a half of having the account open.  

[baller4life]

I keep mines active by using it at the vet for my baby Bentley. I buy his Trifexis with it every 6 months and use it for his annual shots.

[Anonymous]

ACA has plenty to do with it.

They both have the word care in their name!

[Anonymous]

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@Anonymous wrote:
ACA has plenty to do with it.

They both have the word care in their name!

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HA!!!!