topic Re: Care Credit closing accounts? in Credit Cards

Care Credit closing accounts?

Anonymous — Tue, 18 Oct 2016 22:13:13 GMT

I know Care Credit has been known to close accounts for inactivity, but what exactly qualifies as "inactivity"? I have a care credit card and only charged what I needed to and have bee npaying for 2 years. I haven't charged anything new, but I am making payments on my balance. Is that enough to keep it opened?

Re: Care Credit closing accounts?

FroggieMom — Tue, 18 Oct 2016 23:19:28 GMT

Yes that would count as activity. But ....just curious...are you paying interest on your balance?!!? They charge a pretty steep interest rate and none of their interest free promos run longer than 24 months and once the promo is up if the balance isn't PIF the interest from day 1 gets applied...just FYI in case you weren't aware.

Re: Care Credit closing accounts?

Anonymous — Wed, 19 Oct 2016 14:21:04 GMT

Yes, unfortunately, I learned the hard way about their horrible interest rate. And now I'm working my butt off to pay it down as fast as I can!

Re: Care Credit closing accounts?

Anonymous — Wed, 19 Oct 2016 14:22:24 GMT

But on the flip side, I took advice from here and asked for a CLI and they raised me $3000 so I"m up to $7000 which will bring down my utilization

Re: Care Credit closing accounts?

Anonymous — Wed, 19 Oct 2016 14:46:50 GMT

@Anonymous wrote:
But on the flip side, I took advice from here and asked for a CLI and they raised me $3000 so I"m up to $7000 which will bring down my utilization

I'm unsure of your credit situation but it would be a good idea to research BT cards. If you have other credit cards, check them for BT offers as well. Doing a BT could reduce your interest rate allowing you to pay off your balance much sooner. Good luck!

Re: Care Credit closing accounts?

AverageJoesCredit — Wed, 19 Oct 2016 16:01:13 GMT

+1 BT may be a great option if available. Congrats on your cli though

Re: Care Credit closing accounts?

FroggieMom — Wed, 19 Oct 2016 21:01:34 GMT

I agree with the above posters...if it's at all an option I would apply for a card that has a 0% BT offer and do that immediately. No sense throwing away money every month on interest