carecredit's email sent today 2/2/10- "Changes to your CARECREDIT account"

[Anonymous]

I am editing this to say that this account has a $0 balance and has not been charged on in over a year.

Recieved this email about 30 minutes ago. It has some talk about basically what seems to be raising the interest rate about 5% approx for the "no interest if paid within promotion period" part of the card. 

At the bottom of the email was this bit of information-

"If your account remains inactive (no new purchases) over the next 90 days, it may be closed. To keep the purchasing power of your account and the benefit of any promotional terms, it is important to keep your account active and in good standing."

Guess i'll have to go injure myself and use the card to generate some charges so they don't cancell the card

Message Edited by ts140 on 02-08-2010 11:35 AM

[MarineVietVet]

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@Anonymous wrote:

Recieved this email about 30 minutes ago. It has some talk about basically what seems to be raising the interest rate about 5% approx for the "no interest if paid within promotion period" part of the card. 

At the bottom of the email was this bit of information-

"If your account remains inactive (no new purchases) over the next 90 days, it may be closed. To keep the purchasing power of your account and the benefit of any promotional terms, it is important to keep your account active and in good standing."

Guess i'll have to go injure myself and use the card to generate some charges so they don't cancell the card

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Welcome to the forums.

It doesn't have to be anything big to keep it active. You can buy a box of contact lenses from your doctor or pay for your pets's shot at the vet. I have used it at the dentist for a charge I would have paid for in cash anyway and then PIF. There are ways to use your CareCredit card to keep it open without injuring yourself.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work.

[Uborrow-Upay]

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@Anonymous wrote:

Recieved this email about 30 minutes ago. It has some talk about basically what seems to be raising the interest rate about 5% approx for the "no interest if paid within promotion period" part of the card.

At the bottom of the email was this bit of information-

"If your account remains inactive (no new purchases) over the next 90 days, it may be closed. To keep the purchasing power of your account and the benefit of any promotional terms, it is important to keep your account active and in good standing."

Guess i'll have to go injure myself and use the card to generate some charges so they don't cancell the card

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I'll save you the pain. I've got a nice stack of dental bills that needs attention.

What's your address? LOL

[xchap]

I can't afford to close this account :  i guess ill buy that specially made organic poly moly with cavaity fighting germ destroying, mint tasting, hydra absorbing tooth paste  please........  

Message Edited by xchap on 02-03-2010 06:25 AM

[BungalowMo]

My cat Sweetie Pie has allergies & gets a $12 allergy shot every month.  Keeps mine open!

Get a kitty with allergies!  

[laz98]

i got the same notification from my ultra card.  luckily my gf's birthday AND valentine's day are knocking on my door

[MattH]

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@BungalowMo wrote:

My cat Sweetie Pie has allergies & gets a $12 allergy shot every month.  Keeps mine open!

Get a kitty with allergies!  

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If we had to give our cat a shot every month then one or both of us would run up some small medical bills

When we brought her to the vet for a regular checkup recently, it took three people trim her claws: one to use the clippers and two holding her down.

[Anonymous]

You can use your CareCredit, for activity, for your:

Annual dental visit/exam/cleaning.

Annual vet visit/vaccinations

Annual vision

Vision products such as glasses/contacts, etc.

You can PIF just like any CC.

[Anonymous]

Thanks OP.  This is an account we are really keeping our eyes on (until we close it, which cannot be soon enough for us). 

The question really becomes “Do you want to keep these guys open?” If you do, then it’s clear that you want to charge something within their guidelines. 

However, I am becoming more and more deeply disenchanted with these guys. Our first warning came from our dentist, who said they were fine to start off with, but it became tricky as you added additional charges to your account. 

We added two new charges, one for DH at same dentist, and one for DH at another place.  When we looked to see where our payments were going, they paid off the earliest charges first, leaving the oldest charge to be paid off last. 

In addition, if there is any financial emergency, and you are not able to pay off your charge during the promotional period, they will hit that charge with (is it 24.99%??) rate from day 1.  If you pull out an interest calculator, it is amazing to see what you will actually be hit with at that point.  You really have to watch your account carefully, including any additional charges, and determine where each payment is credited. 

Of course, I was even less fond of them when DH’s mortgage pull (and CCT as well) listed them as a “Consumer Finance Company.”  CFC’s are FICO dings – not at all in the same family as a credit card, or even a lovely store card.  

Had I known that, I would never have opened this card.  We do have a chunk of dental coming.  Crimmy.  But we won’t be parking it on this – or any other Consumer Finance Company account.   

And although their 0% for 12 months (or whichever plan you’re offered) sounds attractive, that love gaze quickly sours if you don’t meet the 12 month schedule.  They don’t bill you at the 12 month payoff rate, of course.  If you are even one day late, you’re hit.  And big.  If I can’t afford to pay cash for this now, how am I possibly going to come up with enough to pay for the service plus the exorbitant fees if there’s a financial emergency?  Any financial emergency.  And, of course, unfortunately, they do happen ;( 

I think people are drawn in by the fact that it’s ‘medical’, but it acts much much differently than a well-behaved credit card.  Or a well-behaved loan. 

I understand that there are some who like the fairly healthy CL’s that Care Credit offers, and who don’t carry a balance.  Y’all are in a different boat (a nicer, shinier boat) than those who carry balances with these guys, and don’t want to close the account because of the balance (and fees) that would be due. 

I am off to check if we have a charge in the last 90 days.  We paid down from 19% to 9% this month, and have it scheduled to PIF next month.  Unless, of course, we don’t have any new charges in the last 90 days……..

[Anonymous]

I don't believe this is legal because if they offer you a promo, they cannot change there mind, and jack your rates up if you currently have a balance, and have the promo statement, I just charged $300, I got the 90 days no activity thing but not the rate jack, I will sue them if they try to go back on there offer..