Hi,
as I mentioned in a previous thread, my husband and I are considering to apply for Care Credit to help with vet costs. We're now thinking about applying through my husband rather than me for various reasons: I already have 2 CCs and 1 car loan, he has 1 CC, so getting another might not be damaging for to my scores and at the same time actually help his. We're also hoping to have a lower risk of denial since I already have so much credit, whereas he doesn't.
However, here's what we're concerned about. His credit history is less then 1 year and at the same time is utilization of the one card ranges between 50% and 66% due to a pretty low limit (300$ - we only got him the card at the time to start building his credit history - so far he has not been offered a limit increase; I'd already had one after that much time since opening the card). He's always paying his full balance on time.
His scores are pretty decent (checked with CCT): Experian 690, TU 710, Equifax 720
Will the high utilization and/or the pretty low credit limit of his one card somehow impact his chances for Care Credit?
Also, what are the impacts if I apply as a co-applicant to be able to use the card, too? I assume my scores would be pulled, too? But would my above mentioned concerns why we would try for him (number of credits) impact our chances?
Thanks 
Id say you have a better chance of getting the card. Your credit file is very thin but have established history with a mix of credit.
Let us now how it goes.
I havent botherd with them yet. I'll be paying my dental/any vet bills on my other cards for cash back because they are still 0% interest if I need to carry a balance.
@Anonymous wrote:I'll be paying my dental/any vet bills on my other cards for cash back because they are still 0% interest if I need to carry a balance.
Unfortunately we don't have that luxury 
Yeah, we wanted to do it on him because he doesn't already have two CCs+loan, but I only now thought about his very low credit limit/high UTI to begin with. He has been getting pre-qual offers in the mail for the past several months, though ...
It kinda sucks when you're starting out new in this country 
@Anonymous wrote:
@Anonymous wrote:I'll be paying my dental/any vet bills on my other cards for cash back because they are still 0% interest if I need to carry a balance.
Unfortunately we don't have that luxury
It kinda sucks when you're starting out new in this country
If those pre-qual offers are from real bottom-feeder outfits like Credit One, I'd just throw them in the trash. (Among many other reasons that I want to adopt a pair of bunnies, they're fantastic living document shredders who'd make short work of such junk. 
)
@Anonymous wrote:If those pre-qual offers are from real bottom-feeder outfits like Credit One, I'd just throw them in the trash. (Among many other reasons that I want to adopt a pair of bunnies, they're fantastic living document shredders who'd make short work of such junk.
Haha, we never even open them, they go sight-unseen into the trash. And yep, mostly Credit One, a few Dicover I think, maybe one or two others...as I said, not paying too much attention to them
@Anonymous wrote:Hi,
as I mentioned in a previous thread, my husband and I are considering to apply for Care Credit to help with vet costs. We're now thinking about applying through my husband rather than me for various reasons: I already have 2 CCs and 1 car loan, he has 1 CC, so getting another might not be damaging for to my scores and at the same time actually help his. We're also hoping to have a lower risk of denial since I already have so much credit, whereas he doesn't.
However, here's what we're concerned about. His credit history is less then 1 year and at the same time is utilization of the one card ranges between 50% and 66% due to a pretty low limit (300$ - we only got him the card at the time to start building his credit history - so far he has not been offered a limit increase; I'd already had one after that much time since opening the card). He's always paying his full balance on time.
His scores are pretty decent (checked with CCT): Experian 690, TU 710, Equifax 720
Will the high utilization and/or the pretty low credit limit of his one card somehow impact his chances for Care Credit?
Also, what are the impacts if I apply as a co-applicant to be able to use the card, too? I assume my scores would be pulled, too? But would my above mentioned concerns why we would try for him (number of credits) impact our chances?
Thanks
Two credit cards and an installment loan is nothing. Many people have several cards, a mortgage, auto loan and have no problem obtaining the card if scores are good and have no baddies.
If you want credit the inquiries come with it. I wouldn't say you have a lot of credit.
@Anonymous wrote:Two credit cards and an installment loan is nothing. Many people have several cards, a mortgage, auto loan and have no problem obtaining the card if scores are good and have no baddies.
Well, true, but usually those people have a somewhat longer history and higher income
Anyway, we took chances and applied for my husband, asking for a limit of $1,000 and he got approved for $1,700.