topic Re: How does care credit make sense !? in Credit Cards

How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 00:40:31 GMT

It's a credit account to be used for medical expenses/Dr. Appts from what I see .... But isint that the whole point of the ACA so healthcare be "affordable" and you don't drown in debt so the dentist tells you , you need to floss ..... I have seen it at a couple of Doctors , how does it really work I must be confused , what if a person off BK needs the credit for a medical treatment ! Does he/she get denied because of bad credit ?!

Re: How does care credit make sense !?

gdale6 — Sun, 08 Mar 2015 00:48:46 GMT

@Anonymous wrote:
It's a credit account to be used for medical expenses/Dr. Appts from what I see .... But isint that the whole point of the ACA so healthcare be "affordable" and you don't drown in debt so the dentist tells you , you need to floss ..... I have seen it at a couple of Doctors , how does it really work I must be confused , what if a person off BK needs the credit for a medical treatment ! Does he/she get denied because of bad credit ?!

Without going too far into politics, the ACA doesnt make anything "affordable" unless you get medicaid. Deductibles and copays run into the thousands before insurance even pays a dime for most people and for families its in the 10K plus range before insurance pays a dime....

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 00:50:30 GMT

Care Credit is like a store card for doctors. It makes sense in that way - you can use it for medical expenses like you can use a store card at a specific store and paying it as agreed is good for building credit, even if the care is affordable without it. Not to mention if one has a deductible but doesn't have the cash on hand, CareCredit can take care of the deductible and let you pay it off when you do have the cash on hand.

As for affordability - yes, ACA made medical care a little more affordable by making preventive care cheap to free for the most part, but you could use CareCredit for your copay or deductible and you get the positive payment history on your credit report even if you could have paid it straight out with your debit card. Same as using a regular credit card in lieu of your debit card and paying in full each month.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 00:53:42 GMT

I use it for dental expenses lately. I paid $500 for a deep cleaning at the dentist the last time. That's the portion the insurance didn't cover. Without CareCredit that would probably be on it's way to collections right now. With it, I can pay over time without interest for 12 months (although I'll have it paid off in three). It's the only Synchrony card I am keeping despite the overall lack of benefits. You can use it for Medical, Dental, Vet, Vision, whatever. Whereever it's accepted.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:06:47 GMT

Seems like a easy way to scam those with low income into getting in debt for medical

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:11:01 GMT

@Anonymous wrote:
Seems like a easy way to scam those with low income into getting in debt for medical

If someone needs to have some medical work done, the debt is going to exist anyway, regardless of payment method (or lack thereof). CareCredit lets them take on the debt with a more palatable payment plan.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:21:14 GMT

@Anonymous wrote:
Seems like a easy way to scam those with low income into getting in debt for medical

Thats a crude way of thinking of Care Credit. I don't personally have it but I know people who have and they love it. The so called Affordable Healthcare isn't really affordable in my humble opinion.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:16:06 GMT

It's no more of a scam than taking a loan for a car or home. What's the alternative...going in debt?

Re: How does care credit make sense !?

chalupaman — Sun, 08 Mar 2015 01:21:18 GMT

@Anonymous wrote:
@Anonymous wrote:
Seems like a easy way to scam those with low income into getting in debt for medical
Thats a crude way of thinking of Care Credit. I don't personally have it but no people who have and they love it. The so called Affordable Healthcare isn't really affordable in my humble opinion.

Not to get OT, but there are still major problems with the current healthcare system in this country no matter how you slice it, especially if it doesn't cover copays enough. Just saying.

I got CareCredit mainly to cover any vet expenses for my dog and like it so far and my mom wanted to use part of it to cover her dental expenses. It does come in handy IMO.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:20:48 GMT

for those of us that are smart about credit then sure it's a affordable way into paying for medical stuff .... But in my area their is a big spanish population that could barelly read English or don't wish to read the fine print and then get trapped :/ that's all

. I known the ACA is as functional as the guy that signed it with 40 pens >sarcasm< ....

Re: How does care credit make sense !?

Firefly_1984 — Sun, 08 Mar 2015 01:22:03 GMT

Another Care Credit card holder here... the plans they offer for paying down what I would never have been able to pay before are pretty reasonable. My insurance does not include dental, and I had to have a root canal. Its been long paid off, but it really is useful.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:23:50 GMT

@Anonymous wrote:
for those of us that are smart about credit then sure it's a affordable way into paying for medical stuff .... But in my area their is a big spanish population that could barelly read English or don't wish to read the fine print and then get trapped :/ that's all

. I known the ACA is as functional as the guy that signed it with 40 pens >sarcasm< ....

And do those people have Care Credit? How did you arrive at the conclusion that Care Credit is another scam? Enlighten us since you started this thread.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 01:24:25 GMT

I would say dental is probably the most common reason people get it. Even with the best insurance, a lot is still not covered.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 03:14:39 GMT

@Anonymous wrote:
I would say dental is probably the most common reason people get it. Even with the best insurance, a lot is still not covered.

ditto! and i really dont think its a scam at all considering its all zero percent most of the time. i hate when people call things scams that they dont even understand or read about. Also the 4k limit really helps out my utilization.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 03:22:52 GMT

@Anonymous wrote:
It's a credit account to be used for medical expenses/Dr. Appts from what I see .... But isint that the whole point of the ACA so healthcare be "affordable" and you don't drown in debt so the dentist tells you , you need to floss ..... I have seen it at a couple of Doctors , how does it really work I must be confused , what if a person off BK needs the credit for a medical treatment ! Does he/she get denied because of bad credit ?!

Worked well for me. I had some expensive dental work ( crown after an implant) and applied for it. My dentist of 26 years told me he'd give me 6 months no interest if I didn't use the card. He wanted to avoid the cut they get.

Ended up not using it and they closed the account after about a year or so.

Re: How does care credit make sense !?

OnTheRebound — Sun, 08 Mar 2015 03:58:18 GMT

I hate Carecredit!! Big Scam!!! I used it to pay my $25 office visit copay expecting 6 months/0%. But no, they demanded payment in full!!! Crazy!

Relax folks, I'm just joking!

Seriously, I love CareCredit. Back in Jan, 2014, my wife and I got new glasses for a total charge of $516.00. Now, for that amount I was expecting 6 mon/0%. But jeez, they gave me 18 months! Minimum payment is $25. Been paying $35 a month. $61.00 remaining and 2 more payments. This was a perfect opportunity to stretch it out as long as possible to keep the account active since we don't use it very often. Plus, I love free money.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 04:10:52 GMT

to me it doesn't make any sense, because I think most hospitals, doctors and dentist will offer you no interest finance plan.

whenever I visit hospitals, I miss free health care in denmark. seeing a doctor or having surgeries will cost absolutely nothing, except medicines. but then again... you gotta pay 40-60% income tax and 25% sales tax... so there's that.

Re: How does care credit make sense !?

bradlin — Sun, 08 Mar 2015 04:12:37 GMT

Honestly I can't see why it isn't better to app a regular credit with an intro rate. I guess it is a bucket of credit you keep aside for healthcare expenses and it will be there for you even if you charged up your other cards. They also have a tendency to close the card for non-use so it doesn't work for a rainy day card because it may be closed when you need it.

Re: How does care credit make sense !?

Anonymous — Sun, 08 Mar 2015 04:13:34 GMT

Its like a credit card, basically like an apple rewards CC from barclays. it helps you finance whatever procedure you are doing.

Re: How does care credit make sense !?

pipeguy — Sun, 08 Mar 2015 05:21:42 GMT

Without getting into politics, the "affordable" care act is anything but for most people - average deductibles can run $6000 to $10,000 per year and after that a "gold" plan is nothing but the old 80/20 plan anyway. I happen to know a lot about the ACA because of my line of work, but I'll stay away from the pro/com of the ACA.

That being said, in addition to adult dental care Care Credit pays for Hearing Aids (easy $4000+) Lasik ($1000 to well over $6000 depending on the specs), Care Credit also pays for Vet Visits and no there is not an ACA for Fido.

Bsically you are given two options using Care Credit #1 zero interest if paid within a certain time frame (6-12 months are most common) if you don't pay in full, a high APR and all back interest gets you "big time". #2 a moderate interest rate say14.99 APR on a month by month basis until paid in full.

IMO Care Credit is a good tool for what it's designed, but like any credit product they make money by lending money - you agree to the terms, don't know how this could be considered a "ripoff".