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CareCredit Upgrade

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JSS3
Valued Contributor

CareCredit Upgrade

I was randomly upgraded to the Mastercard version. Will I lose the history if I choose to accept the upgrade? Do they report the Mastercard as a new tradeline?

Message 1 of 20
19 REPLIES 19
Remedios
Credit Mentor

Re: CareCredit Upgrade

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 

Message 2 of 20
JSS3
Valued Contributor

Re: CareCredit Upgrade


@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the question is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  

Message 3 of 20
FinStar
Moderator Emeritus

Re: CareCredit Upgrade


@JSS3 wrote:

@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the answer is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  


How long have you had the non-MC version?  

Keep in mind, the MC tends to offer a variety of good promotional offers from time to time and is more flexible than just the plain version.  Also, if you elect to take the upgrade, the other [closed] version will retain the old history and stays on your CRs for up to ~10 years -- give or take. So, if you're not applying for anything major like a mortgage, it's something to consider.

Message 4 of 20
JSS3
Valued Contributor

Re: CareCredit Upgrade


@FinStar wrote:

@JSS3 wrote:

@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the answer is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  


How long have you had the non-MC version?  

Keep in mind, the MC tends to offer a variety of good promotional offers from time to time and is more flexible than just the plain version.  Also, if you elect to take the upgrade, the other [closed] version will retain the old history and stays on your CRs for up to ~10 years -- give or take. So, if you're not applying for anything major like a mortgage, it's something to consider.


1 year, 6 mos.

 

"Good promotional offers" as in the financing of things bought for classified CareCredit purchases(ie surgeries) or other random promotions(ie utility bills)? 

Message 5 of 20
FinStar
Moderator Emeritus

Re: CareCredit Upgrade


@JSS3 wrote:

@FinStar wrote:

@JSS3 wrote:

@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the answer is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  


How long have you had the non-MC version?  

Keep in mind, the MC tends to offer a variety of good promotional offers from time to time and is more flexible than just the plain version.  Also, if you elect to take the upgrade, the other [closed] version will retain the old history and stays on your CRs for up to ~10 years -- give or take. So, if you're not applying for anything major like a mortgage, it's something to consider.


1 year, 6 mos.

 

"Good promotional offers" as in the financing of things bought for classified CareCredit purchases(ie surgeries) or other random promotions(ie utility bills)? 


Good offers as in spend X using MC for other things and receive $xx. @UncleB has the CareCredit MC and he's posted some targeted or lucrative promotions here in the past.  He can elaborate further 😊

 

As far as the upgrade invitation, it's considered a unicorn since CareCredit stopped doing the MC upgrades for a while and once it goes *poof* there's no telling if you'll get it again (or when). These upgrades are obviously targeted since they cannot be requested.

Message 6 of 20
JSS3
Valued Contributor

Re: CareCredit Upgrade


@FinStar wrote:

@JSS3 wrote:

@FinStar wrote:

@JSS3 wrote:

@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the answer is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  


How long have you had the non-MC version?  

Keep in mind, the MC tends to offer a variety of good promotional offers from time to time and is more flexible than just the plain version.  Also, if you elect to take the upgrade, the other [closed] version will retain the old history and stays on your CRs for up to ~10 years -- give or take. So, if you're not applying for anything major like a mortgage, it's something to consider.


1 year, 6 mos.

 

"Good promotional offers" as in the financing of things bought for classified CareCredit purchases(ie surgeries) or other random promotions(ie utility bills)? 


Good offers as in spend X using MC for other things and receive $xx. @UncleB has the CareCredit MC and he's posted some targeted or lucrative promotions here in the past.  He can elaborate further 😊

 

As far as the upgrade invitation, it's considered a unicorn since CareCredit stopped doing the MC upgrades for a while and once it goes *poof* there's no telling if you'll get it again (or when). These upgrades are obviously targeted since they cannot be requested.


Well...that seals it! I love these offers. ShopYourWay Mastercard is so useful for me due to such promotions. Thanks!

Message 7 of 20
collics
Established Contributor

Re: CareCredit Upgrade


@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Yikes! I get a reminder everyday not to add any new accounts from Synch

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Message 8 of 20
UncleB
Credit Mentor

Re: CareCredit Upgrade


@FinStar wrote:

@JSS3 wrote:

@FinStar wrote:

@JSS3 wrote:

@Remedios wrote:

Unfortunately, it will report as new TL, without any history attached to the account. 

Thats how Synchrony handles upgrades. 


Oh noooooooooo! Almost 2 yrs gone. Now the answer is---to upgrade or not to upgrade? I ALWAYS want a bankcard version of any card to use anywhere. My hand is forced.  


How long have you had the non-MC version?  

Keep in mind, the MC tends to offer a variety of good promotional offers from time to time and is more flexible than just the plain version.  Also, if you elect to take the upgrade, the other [closed] version will retain the old history and stays on your CRs for up to ~10 years -- give or take. So, if you're not applying for anything major like a mortgage, it's something to consider.


1 year, 6 mos.

 

"Good promotional offers" as in the financing of things bought for classified CareCredit purchases(ie surgeries) or other random promotions(ie utility bills)? 


Good offers as in spend X using MC for other things and receive $xx. @UncleB has the CareCredit MC and he's posted some targeted or lucrative promotions here in the past.  He can elaborate further 😊

 

As far as the upgrade invitation, it's considered a unicorn since CareCredit stopped doing the MC upgrades for a while and once it goes *poof* there's no telling if you'll get it again (or when). These upgrades are obviously targeted since they cannot be requested.


@FinStar is spot-on.  Smiley Happy  They haven't done any promos in a few months, but when they do they tend to be pretty good.

 

Here's some examples:

 

https://ficoforums.myfico.com/t5/Credit-Cards/CareCredit-MasterCard-Holiday-Promo/m-p/6176569 

https://ficoforums.myfico.com/t5/Credit-Cards/Latest-CareCredit-MC-Promo/m-p/6102191 

https://ficoforums.myfico.com/t5/Credit-Cards/CareCredit-Earn-a-25-statement-credit/m-p/6041413 

https://ficoforums.myfico.com/t5/Credit-Cards/CareCredit-MC-Promo-1k-Points-for-100-Purchase/m-p/601... 

Message 9 of 20
UncleB
Credit Mentor

Re: CareCredit Upgrade

I can also confirm that it definitely reports as a new account, although oddly in my case the "high balance" from the old account did carry over to the new one (but nothing else did).  This could have just been a once-off, but it shows that at some level in Synch's system the accounts were (are?) related. 

 

I like to think that at some point they might let the new account have more of the info from the old one, but that's probably wishful thinking (and by now it wouldn't make much difference in my case, anyway).

 

Old account (Experian):

CareCredit2.jpg

 

New account (also Experian); note how the highest balance is the same:

CareCredit1.jpg

Message 10 of 20
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