CareCredit

[Anonymous]

The paperwork says credit card but I am thinking CFL... yes, I was just approved for one because of over $6K in dental work (co-pays alone).

How bad have I killed my longterm score if it's a CFL?  It will be paid off in a year at 0% interest.

[Junejer]

If CC, then is it revolving? If revolving, it's not a CFL.

[Anonymous]

If it reports as a cc your fine. I had Unicorn Financial for a dental loan and it reports as a cc which is what you want.

[Anonymous]

I opened a CareCredit account in Sept.  Same reasons.

My account reports as revolving.

[ngerasimatos]

My father has one and it shows as a revolving account. He also had dental work.

[Anonymous]

I have CareCredit (cat needed $1500 surgery, it was a lifesaver). Mine showed up as GE Money bank. If you sign on to carecredit.com and go to your account you get redirected to GE. I have a physical credit card so I think it's a specialized CC.

[Anonymous]

Thanks, everyone!!!

The agreement says 'credit card' but I heard the word GE Financial Services and almost fainted...CFLs tank scores.

It is GE MoneyBank so maybe a CC with a 7K limit (even if specialized) will help long term.

repay plan:

1st month 1/3 of balance

month 2&3 normal payments

month 4 half of remaining balance

months 5-7 normal payment

month 8 pay it off.

I can see my score tanking for this being maxxed out - I just paid off cards to get it up.... well, better than writing a check, I guess...

Message Edited by Lady_Scarlet on 03-06-2008 06:30 PM

[sunrise]

I have CareCredit....it reports under revolving.

[Anonymous]

Yep, it is a CC, and you'll actually get a real, physical card for it.  It's not a CFL, so no worries.

Be careful with the terms, though.  Especially pay attention to the fact that if each purchase is not PIF before the end of the 0% period, interest will accrue retroactively from the date of the purchase.  The mininmum payments are typical of CCs (around 3% of the balance), so you can't expect to have it PIF by the end of the 0% period just making minimum payments.

Edited to add: I know you said you plan to have it paid off, but I was just giving the retroactive interest info just to put it out there.  Wasn't directed at anyone here.

Message Edited by cheddar on 03-06-2008 10:24 PM

[Anonymous]

ANother question:

Does this card automatically close once PIF - or does it stay 'open' for future use (thinking nice padding for util)????