New credit card to pay for Lasik???

[jwright343]

My credit is solid around 800.  I am absolutely thru dealing with contacts and dry eyes ever again.  I will be getting Lasik after shopping around the Indianapolis area.  Even after insurance and any discounts, I'm guessing it'll be about $1500-2000 an eye.  None of my current cards are currently in a 0% category as I've had them all awhile.  I know that most Lasik docs use, I believe, Care Credit or something like that.  If I take a hit on a credit pull for their in store financing, wouldn't it be smarter to just take a hit and get a new card out of it and the 15 month 0% ?!?  Also increasing my available credit.  I'm sure getting a new card won't be a problem with my scores in the low 800s.  Speaking of taking a hit on a hard pull, is there an exact number of points that it is per hard pull or is it situational?  Any recommendations of Lasik docs in the Indy area also greatly appreciated.  Thanks Friends. 

[austinguy907]

I had my eyes done awhile back and it's well worth it.  The first couple of weeks are a pain with all the follow up visits and the eye drops every few hours but, overall I would do it all over again if I had to.  It's not cheap but, it's a long term investment since they say the results typically last 10 years +.

As to financing you're in a good position to do a 0% as an option.  Hard to say where to point you though with no info on your existing lineup.  I would however say Discover would be an instant 2% cashback with the double cash back for the first year and 14 months 0%.  Otherwise some of the more traditional options are 18/21 month offerings with BOA / CITI but, the limits might not quite be there on opening w/o calling and pushing them with another HP to bump it to 10K to keep your utilization down.  

I'm sure if you give us some more info others will chime in with other options that might fit.

[HeavenOhio]

Most importantly, I think you want to go your preferred doctor rather than shopping for doctors based on payment plans. Check to see what payment options are available. There might be something attractive, and there might not be.

I'd avoid consumer finance companies as they ding your score. But an installment loan through a "real" bank might be an option.

Be careful with CareCredit. I was hooked up with them in the dentist's office (when I didn't even really need them). I ended up with a maxed out card. I knew nothing about utilization at the time. But the dentist's office and CareCredit certainly should have known that using 95% of my limit was a problem. My starting limit should have been reconsidered immediately. Short of that, I should have refused the card or refused to allow the dentist to put the charge on the card.

I like your idea the best. Grabbing a major card with a decent limit and 0% introductory interest would give you flexibility now, and it would give you a product that'll still be useful down the road.

As austinguy907 says, if we knew more about your existing cards and their limits, people could offer specific advice. Without that knowledge, an AMEX revolver comes to mind as something that will offer 0% interest and likely a decent limit.

[jwright343]

Thanks for the input.  I have 4 CCs w/ $65,000 in available credit.  However, in order to get 0% interest, it has to be a new card correct?  2 cap one, discover and AMEX.  Yes, i agree about Care Credit.  I view them as a 'store card' and we all know those are overall dangerous to have.  Meaning the non credity savvy like us on this forum.  I don't really 'need' a new card and I have no inquiries in over 2 years.  But in thinking ahead, going the new card route, I can accomplish all of the following with one stone.  Get Lasik, have 0% interest for up to 15 months, increase my credit availability.  Only downside is the hard pull and the $5000 bill. 

[austinguy907]

Last time I asked Disco for an APR reduction they came back with a 0% for 12 months on purchases.  So, there's a way to do it w/o a HP.  If your limit on Disco isn't high enough there's a way around that too with talking to Lending and asking them for a CLI to a specific amount....this would be the HP but, it wouldn't be a big hit to your CR like opening another account.

AMEX doesn't do additional 0% periods as I found out by trying and only getting a 3-4% 12 month reduction.  

So, I would start with Disco and see what they say before pouncing on a new account quite yet.  I'm sure you're still feeling things out about the procedure and haven't been in for the comprehensive eye exam that takes at leats an hour to do.  Just take some baby steps and you'll end up where you want to be and be able to count the bricks on a building from a 1/4 mile away.

[Anonymous]

There are several CC's where you can get zero percent intro for 12 months, I would consider them because they are more useful than carecredit.  I did Lasix 12 years ago and it was one of the best decisions I have ever made.  It has easily saved me the cost of the procedure versus contacts and glasses for the past 12 years.  My vision continues to be better than 20/20.  On the clinical side the screening is really important so I went to two docs for screening to ensure I fully met the criteria before I had the procedure done. On the CC front I got 15 months of zero percent on my AMEX ED and 12 months on my Venture One so if you can get something like you could save yourself some interest and have a card you can use for just about anything.

[AverageJoesCredit]

Seems like the perfect time to put your fantastic credit to use. Whats the point of having 800 fico if ones not willing to use it to ones advantage. No hps in 2 years is an awesome feat. Why not join one of the big CU's like Penfed or Navy and possibly get yourself a big limit card that can help ease the utilization of the cost you need. Just a thought

[Anonymous]

I did this in December. I paid about $3,300 for the procedure after negotiating the price down from $4,000. So first things first, keep in mind that Lasik prices are ALWAYS negotiable. The person you talk with in most cases is sales rep that get s paid a commission. Go bladeless. I went to TLC and the procedure was anywhere from 6 to 8 minutes. Dry, gritty eyes for 2 weeks and lots of artificial tears and now vision is at 20/13.. AMAZING.

As for payment, I paid for it with my AmEx PRG card in full, then asked Fidelity if i could get a 0% BT promo check on the Fidelity Rewards VS card i have with them. They approved it an gave me 0% through the May 2018 billing cycle with a 3% one time fee. Got the letter and check in the mail, then processed the BT online. Piece of cake. So i would just ask CO or AmEx if they can extend one of those promo BT periods to you. If not, definately apply for a card that offers a BT intro period, but make sure its a solid card that you could see yourself  using in the future. Definately better than applying for some care credit or something. Best of luck with the procedure and the payment.

[CreditInspired]

Care Credit could possibly be deferred interest, which is another reason to look for another major credit card with 0% interest that's 15-18-21 months interest free. Good luck.