care credit questions

[mossmanb5]

i have a care credit account with a 6k limit. i dont plan on using it anytime soon but its nice to have in case a major emergency happens and my bcbs dosent cover it or anything else.  my question is has anyone had any aa for not using it like a cld or closure. ive had it for almost 2 months i wonder if i have to use it at some point. its a nice uti cushion and would suck to lose it . thanks

[Anonymous]

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@mossmanb5 wrote:

i have a care credit account with a 6k limit. i dont plan on using it anytime soon but its nice to have in case a major emergency happens and my bcbs dosent cover it or anything else.  my question is has anyone had any aa for not using it like a cld or closure. ive had it for almost 2 months i wonder if i have to use it at some point. its a nice uti cushion and would suck to lose it . thanks

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Ours is 9,000 limit. I put the occasional co-pay on it just to keep it going and attempt a CLI every year.

[OnTheRebound]

We don't use my wife's Care Credit very often. A few months ago we both needed new glasses. They gave us 18 months 0% on a $516 charge. I been paying the 

minimum plus $10 just to keep it active for as long as possible. Pryor to that it was idle for well over a year without consequences. 

[EW800]

This could be a YMMV type thing, however my wife and I have a Care Credit Card with a $6500 CL. We had pretty much forgotten about it and did not use it for at least a year and half or so, and found that all was good with it a few months ago when we used it for some dental work. I am sure they would have closed it at some point, but they did not mind that long in our case.

[mossmanb5]

thanks

[Gollum]

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@mossmanb5 wrote:

i have a care credit account with a 6k limit. i dont plan on using it anytime soon but its nice to have in case a major emergency happens and my bcbs dosent cover it or anything else.  my question is has anyone had any aa for not using it like a cld or closure. ive had it for almost 2 months i wonder if i have to use it at some point. its a nice uti cushion and would suck to lose it . thanks

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Carecredit is a pseudo "credit card" offered by GE Money Bank.  You don't really use the Carecredit "card."  When you present it, that is a signal to the staff that you must sign an individual contract.  The contract paperwork is provided by GE Money Bank.  The doctor/dentist/veterinarian etc. gets paid in full by GE Money Bank.  GE Money Bank makes their profit by charging a 29.99% interest rate on the entire amount financed (when the contract was signed) if/when the borrower is late on a payment: it doesn't matter how much of the amount loaned has been repaid already.

Carecredit can be something that helps in a time of need, but it is a trap for many people with no FICO score or a low FICO score who do not make the payments on time.

I doubt the Carecredit "card" would *ever* be cancelled by GE Money Bank for non-use by the "cardholder."