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Regular Contributor
StartingLifeOver
Posts: 138
Registered: ‎02-06-2009
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Thinking of applying for Care Credit

Hi all. I'm having surgery and I'm thinking of applying for a Care Credit account to take advantage of the 18-24 month no interest offer from my doctor. I initially scheduled 7 months out to try and save the cash portion that I need. I'm now wondering if I app & I'm approved, can I go ahead and charge the procedure now & then begin payments? I like to be proactive and it would definitely put my mind at ease, knowing its paid for. Is this ok this far in advance? Has anyone heard of doing this? I can wait if necessary, but like I said, I like to be proactive.
NFCU Cash Rewards: $14,000/FNBO Platinum: $4,600/Best Buy Cap 1: $2,500/Care Credit $7,600/TJ Maxx $600

Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 :smileyhappy:
Current Score: TU 695 EQ FICO 698 EX 694
Goal Score: 720

Senior Contributor
john398
Posts: 3,517
Registered: ‎01-19-2009
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Re: Thinking of applying for Care Credit

You probably would have to ask the staff at your doctors office if you can have it charged now to the card before the procedure

Regular Contributor
StartingLifeOver
Posts: 138
Registered: ‎02-06-2009
0

Re: Thinking of applying for Care Credit

[ Edited ]
I think they'd be ok with it. They accept cash and credit card payments toward surgery now. I just wonder if that's ok with Care Credit. Would they even know?
NFCU Cash Rewards: $14,000/FNBO Platinum: $4,600/Best Buy Cap 1: $2,500/Care Credit $7,600/TJ Maxx $600

Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 :smileyhappy:
Current Score: TU 695 EQ FICO 698 EX 694
Goal Score: 720

Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013
0

Re: Thinking of applying for Care Credit

I wonder, if you just apply for CareCredit, but don't use it, how you get them to give you CLI for the future when you do need it? Just asking with no history of usage seems like it shouldn't work.


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Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
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Re: Thinking of applying for Care Credit

[ Edited ]

I agree with asking about CareCredit at the Doctor's office.   It is especially helpful if the Doctors office can request from GE on your behalf, a Credit Limit that is large enough to cover the planned procedure. If you apply online, your initial credit limit may not be sufficient to cover the costs.

 

Keep in mind that your FICO scores will be negatively impacted by the utilization percent of the balance in relation to the available balance on the card.   The effects are short in duration, and your scores will rebound as soon as the balance is paid down.  (provided that all other bills are paid on time and you have no collection activity)

 

As long as you do not plan to purchase any large items using long term financing, (such as a home or car)  then you will not be negatively impacted by opening and using a GE Care Credit account for your procedure.

 

 


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Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013
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Re: Thinking of applying for Care Credit


webhopper wrote:

I agree with asking about CareCredit at the Doctor's office.   It is especially helpful if the Doctors office can request from GE on your behalf, a Credit Limit that is large enough to cover the planned procedure. If you apply online, your initial credit limit may not be sufficient to cover the costs.

 

Keep in mind that your FICO scores will be negatively impacted by the utilization percent of the balance in relation to the available balance on the card.   The effects are short in duration, and your scores will rebound as soon as the balance is paid down.  (provided that all other bills are paid on time and you have no collection activity)

 

As long as you do not plan to purchase any large items using long term financing, (such as a home or car)  then you will not be negatively impacted by opening and using a GE Care Credit account for your procedure.

 

 


Thanks for the advice there. I've been considering getting cosmetic dental surgery to assauge my vanity. 24 month 0% financing seems like a good deal if I'm not worried about util.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Regular Contributor
StartingLifeOver
Posts: 138
Registered: ‎02-06-2009
0

Re: Thinking of applying for Care Credit

I'm going to talk to them and see what they say. If that doesn't work out, I'll just have to fork over the cash. Thx!
NFCU Cash Rewards: $14,000/FNBO Platinum: $4,600/Best Buy Cap 1: $2,500/Care Credit $7,600/TJ Maxx $600

Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 :smileyhappy:
Current Score: TU 695 EQ FICO 698 EX 694
Goal Score: 720

Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
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Re: Thinking of applying for Care Credit

In a couple of years I plan to have laser surgery on my spine and the Laser Spine Institute handles Care Credit apps over the phone and then they charge the procedure. I have been in Chronic Pain for 12 years and it just keeps getting worse. The cost of the surgery will be $70,000 and my insurance covers $60,000, so I will have to finance $10,000 on Care Credit.
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