topic Re: Care Credit Approval Odds / Starting Limit in Credit Card Applications

Care Credit Approval Odds / Starting Limit

Anonymous — Sat, 22 Dec 2018 04:51:43 GMT

I am considering applying for the care credit card in order to provide funds necessary for a procedure i need done. I know they do a hard pull on my transunion credit score. My current score is 636 and i have no derrogatory marks on my account. However, my current credit card utilization is at 67%. I was writing to inqurie what odds i would have of approval and starting limit.

Re: Care Credit Approval Odds / Starting Limit

credit2019 — Sat, 22 Dec 2018 05:02:49 GMT

You and I have a quasi-similar story. My score is 663, and because I have always paid my main card after the statement date, I have also had high utilization (>80%). I was recently approved with CareCredit for $1200. I don't know how much higher the limit could have been - it asked how much the procedure was, I said $1200, and when it approved me, it said my limit was $1200. However, after I used some of it I tried to increase it to $2500, and that was denied. I'm guessing I probably would have been good for at least $1500-$2000 had I entered that as the procedure cost. I could have been denied for the increase simply because the account is brand new.

Re: Care Credit Approval Odds / Starting Limit

CCrew — Mon, 24 Dec 2018 12:45:45 GMT

CareCredit tends to be like other Sync products and start low and raise from there. As a data point my wife applied due to some exorbitant vet bills and sitting with an 800 EX/EQ/TU and 0% util only got $4k out of the gate.

Re: Care Credit Approval Odds / Starting Limit

aircobra — Mon, 24 Dec 2018 18:10:35 GMT

Care Credit is an odd one. I got a SL of $1500 with scores in the mid 600s. I've used it a total of one time to buy something for $4 at Walmart about a month ago. My CL is now $14,400.

Re: Care Credit Approval Odds / Starting Limit

credit2019 — Mon, 24 Dec 2018 20:07:41 GMT

@aircobra wrote:
Care Credit is an odd one. I got a SL of $1500 with scores in the mid 600s. I've used it a total of one time to buy something for $4 at Walmart about a month ago. My CL is now $14,400.

Wow that is odd. How old is your account with them?

Re: Care Credit Approval Odds / Starting Limit

aircobra — Mon, 24 Dec 2018 20:38:13 GMT

@credit2019 wrote:
@aircobra wrote:
Care Credit is an odd one. I got a SL of $1500 with scores in the mid 600s. I've used it a total of one time to buy something for $4 at Walmart about a month ago. My CL is now $14,400.
Wow that is odd. How old is your account with them?

7 months.

Re: Care Credit Approval Odds / Starting Limit

Anonymous — Mon, 31 Dec 2018 21:00:23 GMT

I have the CareCredit with $1K SL opened 3 months ago. Each month I put $3-400 at Walmart and always immediately PIF a couple days later once it posted. I tried to request CLI after the first statement. Declined. Then tried every 2 weeks or so since then and still decline, decline, decline.

I also have Wayfair starting at $2500 and now is at $4900 (carrying $400 balance due to 0 financing), Overstock at $750 and now at $3900 (zero balance). Both see usage every month, not much, but CLI on both of them came right after the first statement cut off. Also, had Sonoma Williams at $1K SL but not able to get any CLI so it is now canceled.

I am thinking of canceling the CareCredit. I am currently sitting at 6% utilization so a $1K CL is doing nothing for me.

Re: Care Credit Approval Odds / Starting Limit

credit2019 — Mon, 31 Dec 2018 21:53:42 GMT

@Anonymous wrote:
I have the CareCredit with $1K SL opened 3 months ago. Each month I put $3-400 at Walmart and always immediately PIF a couple days later once it posted. I tried to request CLI after the first statement. Declined. Then tried every 2 weeks or so since then and still decline, decline, decline.

I also have Wayfair starting at $2500 and now is at $4900 (carrying $400 balance due to 0 financing), Overstock at $750 and now at $3900 (zero balance). Both see usage every month, not much, but CLI on both of them came right after the first statement cut off. Also, had Sonoma Williams at $1K SL but not able to get any CLI so it is now canceled.

I am thinking of canceling the CareCredit. I am currently sitting at 6% utilization so a $1K CL is doing nothing for me.

They declined my CLI as well, but then I got something saying it was because I had blocked my Equifax. I always block it when I'm not apping, so who knows. I assumed it would have been a soft pull since it had been less than 30 days since my account was opened, but apparently they went for the hard pull. I doubt they would have increased it though. But apparently some people receive massive, automatic bumps. I guess it just depends on who you are or other algorithmic weirdness.