Care Credit Questions

[sillykitty1]

I'm going to be having a medical procedure, that will cost about $20K.  My surgeon accepts Care Credit, and will do the 18 months defered interest.  I can pay it off in that time (or BT if something unforseen happens).

Couple of questions:

Is it worth boosting my TU to 800ish?

Currrently around 780 (783 per BOA 2 weeks ago).  I can my score boost by paying off a couple of cards and bringing down some utilization.  But is it worthwhile?

What is max CL for Care Credit/Synchrony?

I'd like the high CL possible for utilization purposes.  I have no other Synchrony cards

TU: 783

Overall Utilization: 15%

1 card maxed, couple with Utilization over 50%, balance on 6/19 cards

Total CL - $350K

Income $100K+

TIA

[AverageJoesCredit]

Its possible with your profile you could get 20k+ on a Care Credit after approval by calling up Credit Solutions, just not gaurenteed. If you can pay that off with 18 months, with your profile , maybe look for a card or 2 with high sign up bonus and 0%i ntro apr. Either options look good for you. What lenders do you have and are you eligble for a CU like Navy? Thanks

[Meanmchine]

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@AverageJoesCredit wrote:
Its possible with your profile you could get 20k+ on a Care Credit after approval by calling up Credit Solutions, just not gaurenteed. If you can pay that off with 18 months, with your profile , maybe look for a card or 2 with high sign up bonus and 0%i ntro apr. Either options look good for you. What lenders do you have and are you eligble for a CU like Navy? Thanks

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+1

[sillykitty1]

Thanks AverageJoe

"maybe look for a card or 2 with high sign up bonus and 0%i ntro apr"

From what I've found most cards either offer sign up bonuses or long term intro 0%, not usually both.

Bank of America® Cash Rewards credit card - only $200 bonus & 15 months 0%

Citi® Diamond Preferred® Card -  no bonus & 18 months 0%

BankAmericard® Credit Card - no bonus & 18 months 0%

Wells Fargo Platinum Visa® Card - no bonus & 18 months 0%

U.S. Bank Visa® Platinum Card - no bonus & 18 months 0%

HSBC Gold Mastercard® credit card - no bonus & 18 months 0%

(My surgeon doesn't accept Amex or Discover, so eliminating those issuers)

TBH - chasing non-travel bonuses isn't super motivating to me right now.  

"What lenders do you have"

Amex - $53K across 4 cards

Chase - $86K  across 5 card

US Bank - $52K across 2 cards

BOA - $34K across 2 cards

Citi - $27K on one card

Barclay - $33K on one card

PenFed - $20K on one card

Nasa - $25K on one card

CCU - $25K on one card

Cap1 - $22K on one card

"are you eligble for a CU like Navy"

Not eligible for Navy.  Are there any CU's that offer long term intro 0% and big starting limits?  Ideally I'd like to get $40K+ so this $20K charge doesn't kill my utilization.

My current though process is, I might be better off going with a 18 month intro 0% from another issuer, rather than Care Credit.  So in the unlikely scenario I can't pay the charge off in 18 months I won't have to worry about transfering the balance to avoid retroactive interest.  

I'll probably start a new thread with these questions:

BOA - It looks like they allow transfering of limits between cards.  What is an upper limit on total credit to extend to a customer?  Already have $34K with them.  Would applying for BankAmericard® Credit Card - no bonus & 18 months 0% be my best option?  I have almost no activity on my current BOA cards.

Citi - It looks like transfering of limits between cards is more difficult and requires a HP.  What is an upper limit on total credit to extend to a customer?  Already have $27K with them.  Would applying for Citi® Diamond Preferred® Card -  no bonus & 18 months 0% be something I should consider?  I have almost no activity on my current Citi card.

Wells Fargo - I know nothing about them as an issuer.  Are they likely to give my profile a high starting limit? Is the Wells Fargo Platinum Visa® Card - no bonus & 18 months 0% worth pursuing?

US Bank - I know they are considered very conservative.  I believe the only reason I have the $52K combine limits because thier acquired my Fidelity Elan account.  They are also my mortgage holder.  I'm a little cautious to apply for U.S. Bank Visa® Platinum Card - no bonus & 18 months 0% and poke the bear here.  Thoughts?

HSBC -  I know nothing about them as an issuer.  Are they likely to give my profile a high starting limit? Is the HSBC Gold Mastercard® credit card - no bonus & 18 months 0% worth pursuing?

TIA!

[sillykitty1]

Not sure why I need to explain myself ... but the vast majority is reimbursable business travel.  If you read my post I said I can pay off & get utilization down

[sillykitty1]

Following up:

I decided against going with Care Credit, due to the risk/pressure of deferred interest & needing to either pay off or transfer by the end of 18 months.

I paid down my utilization significantly, and applied for BOA Bank Americard with 18 month 0% APR.

Approved for $15K instantly.  Bringing my total BOA limit to 49K across 3 cards.  I need more than  $15K on the BankAmericard, for my upcoming charge.  I called the backdoor number and asked for a CLI.  They came back and denied a CLI based upon total BOA exposure.  But were able to move around my credit limits.  I have a total of $40K on the Bank Americard, $5K on Merril Lynch & $4K on BBR.

Happy ending!

[FinStar]

Thanks for the update and congrats on the other approval @sillykitty1. Sounds like everything worked out in the end.

Locking this thread as you have been approved for the other product. Feel free to start a new approval thread in the Approvals forum if you would like to do so.