topic Re: Finally Approved AND BOOSTED with Care Credit! in Credit Card Approvals

Finally Approved AND BOOSTED with Care Credit!

Anonymous — Wed, 09 Jan 2019 04:26:59 GMT

This is my first time posting here (forgive me if I am not in the right place to post). I am so excited and wanted to thank you all for the advice you have posted and in response to others. I have FINALLY worked up the nerve to apply for care credit for a costmetic surgery for 7000 and was approved at first for 4000 (TODAY), asked for a CLI and was bumped to 9240 after hitting the "LUV" button twice! I am estatic! My TU was pretty high at 714, my EX was at 654 and EQ was around 630 so they were not great. I have been checking websites mentioned here and only use credit karma for day to day alerts. I have limited credit otherwise (Capital one, credit one, Victoria secret credit card, etc). My average credit was 2 years old, i had about 5-7 HPs, utilization at 35%, and 2 accounts in collection (3-4 years old), I am a recently graduated student nurse so I'm sure the income increase did help as well! I am just so excited!!!

Re: Finally Approved AND BOOSTED with Care Credit!

chiefone4u — Wed, 09 Jan 2019 04:39:28 GMT

Congratulations on the approval and cli!

Be sure to read the fine print that comes with that card as well as what your provider gives you. Interest on this card is ridiculously high, as many Synchrony cards are.

Most places I've used it at offer 6 months 0% deferred interest. A few give 12 months. If you can't pay it off in that time you may want to ask about other offers.

I had Lasik eye surgery, wasn't sure I could pay it off in six months so opted for 12.99% for two years (and make as big of a payment as I can afford - next month will be a year, should have it paid off the following month) -- the reason I went that route is the whole balance begins accruing interest on day one at 29.99% until paid in full -- I figure I saved roughly $500 in interest by taking a reduced apr instead of 0% since I wasn't able to pay it in the 6 months it was good for.

Re: Finally Approved AND BOOSTED with Care Credit!

Anonymous — Wed, 09 Jan 2019 05:05:38 GMT

@chiefone4u

I'll have to ask my provider what plans they offer, I definetly will opt for the 12 if they offer it just to be safe. I currently have the luxury of living at home while I begin my new nursing job so I'm able to throw a little more money at the bill than usual. I make around 4000 a month with all other bills totaling around 1000. I think I could do it in 6 months but I'd rather be safe than sorry like you said! Thank you for the advice

Re: Finally Approved AND BOOSTED with Care Credit!

Anonymous — Wed, 09 Jan 2019 06:58:59 GMT

Congrats on your CareCredit approval and CLI!

Re: Finally Approved AND BOOSTED with Care Credit!

Anonymous — Wed, 09 Jan 2019 12:11:58 GMT

@brookel22 -

Welcome to the myFICO forum! We're thrilled that you joined us!

Super Congrats on graduating from nursing school and

finally joining the ranks of the gainfully employed! All of

your hard work finally paid off. And also major congrats

on your Care Credit approval and CLI. Very well done!

Since you still live at home and your expenses are low,

try to get your overall utilization below 10% over the next

6-9 months. You seem to have a good handle on your expenses,

so keep doing what you're doing and you'll be in great shape.

As a new member, you may already be familiar with Pen Fed

credit union. You don't need any sort of military affiliation to join.

Just make a small, 1 time donation and you'll be in. The scores you

shared are probably FICO 8s. However, before applying to Pen Fed,

you'll need to take a peek at your FICO 9s. PenFed hard pulls Equifax F9

and I wouldn't apply unless your Equifax F9 is at least 650. That's what

you'll need for their Promise Visa (most popular card). You'll need a

EQ F9 680 or higher for their premium cards like the 2% Power Cash Rewards

Visa and the Amex Pathfinder. In addition, the FICO 9 scoring model doesn't

give any weight to paid collections. So don't be surprised if your F9 scores are

a bit higher than your F8s when you pull them.

If you or your family does have some sort of military affiliation,

definitely look into Navy Fed. As long as you continue to care and

feed all of your accounts well, Navy Fed is known to be very generous

with SLs and CLIs. Congrats again on your success. Thanks for sharing!

Re: Finally Approved AND BOOSTED with Care Credit!

xaximus — Wed, 09 Jan 2019 13:56:31 GMT

Congrats on your CLI! As AllThingsInTime said, I would definitely bring the utilization down and try to clear off the collection accounts. Once those go off, your score will definitely see a boost.

Re: Finally Approved AND BOOSTED with Care Credit!

19eighty5 — Wed, 09 Jan 2019 18:23:18 GMT

Congratulations on your approval and CLI!

Re: Finally Approved AND BOOSTED with Care Credit!

Anonymous — Wed, 09 Jan 2019 18:26:55 GMT

COngrats on your approval and CLI !!