Care Credit Approval Odds?

[Anonymous]

I need about $3,800 for dental work I want to get done and I decided to try Care Credit to finance it. I only have one line of credit; a capital one quicksilver card with a CL of $850, I just reduced my utilization to a little below 40%, i'm going to pay it off next month. I PC'ed to the quicksilver card about 4 months ago from a capital one journey student card. According to credit wise, my score is 713, 100% on time payments, my oldest (and only) credit line is 2 yrs old, 0 recent inquiries, and no delinquents. Is there a chance I could get approved for a reasonable credit line with Care Credit with only one line of credit?

[Anonymous]

Welcome to the myFICO forums!

I would not base your credit worthiness on Credit Wise, a credit-measuring tool that uses the useless Vantage Score 3.0. I would get your actual Fico scores for cheap here: https://www.creditchecktotal.com/

[Anonymous]

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@Anonymous wrote:

I need about $3,800 for dental work I want to get done and I decided to try Care Credit to finance it. I only have one line of credit; a capital one quicksilver card with a CL of $850, I just reduced my utilization to a little below 40%, i'm going to pay it off next month. I PC'ed to the quicksilver card about 4 months ago from a capital one journey student card. According to credit wise, my score is 713, 100% on time payments, my oldest (and only) credit line is 2 yrs old, 0 recent inquiries, and no delinquents. Is there a chance I could get approved for a reasonable credit line with Care Credit with only one line of credit?

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If you reduce your credit utlization to, say, 1%, your score may go up, thereby increasing your odds of getting approved. But of course, I -- and the myFICO community -- need to know your actual Fico scores to be sure.

[CCrew]

I think you can probably get approved, but getting enough to cover $3800 out of the gate may be tough. Synchrony tends to start out with lower CL's then raises from there. 

As a data point my wife with a 792 FICO and 12 year AAoA only got a $4k starting limit. 

[HeavenOhio]

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@Anonymous wrote:

I need about $3,800 for dental work I want to get done and I decided to try Care Credit to finance it. I only have one line of credit; a capital one quicksilver card with a CL of $850, I just reduced my utilization to a little below 40%, i'm going to pay it off next month. I PC'ed to the quicksilver card about 4 months ago from a capital one journey student card. According to credit wise, my score is 713, 100% on time payments, my oldest (and only) credit line is 2 yrs old, 0 recent inquiries, and no delinquents. Is there a chance I could get approved for a reasonable credit line with Care Credit with only one line of credit?

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While I agree that getting FICO scores would be useful, "100% on time payments, my oldest (and only) credit line is 2 yrs old, 0 recent inquiries, and no delinquents" would indicate that your FICO scores are going to be good. But to be sure, I'd apply when your reported balance is between $5 and about $25.

[Anonymous]

Care Credit is Sycrony Bank. They are the worst to get credit with and stingy with credit limits. Even with perfect pay history they will approve you, but you may not be happy with the credit limit.

[Anonymous]

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@Anonymous wrote:
Care Credit is Sycrony Bank. They are the worst to get credit with and stingy with credit limits. Even with perfect pay history they will approve you, but you may not be happy with the credit limit.

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This hasn't been my experience with Sycrony Bank. I don't have Care Credit but I do have their Sam's Club MC and it has gone from $4800 in January this year to $10K in August in to SP jumps by calling the Credit Solutions overseas number.

[CCrew]

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@Anonymous

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This hasn't been my experience with Sycrony Bank. I don't have Care Credit but I do have their Sam's Club MC and it has gone from $4800 in January this year to $10K in August in to SP jumps by calling the Credit Solutions overseas number.

I have to agree with this. I started with Sam's @ $500 and I'm now at $4k. Started with Lowes @ $500 and now at $10k, Started with Paypal @$4k now also @ $10k. Nothing to say bad about Synchrony and CLI's, although they do tend to set starting limits on the low side.

[Anonymous]

Totally agree Ally !!! Synchrony totally sot me down when I really needed dental work that my insurance doesn’t cover. FICO ‘s are 640’s but with lates from 2 yrs ago it’s nit going to happen. Even their toy cards is a no go 😞