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pet savings accounts

mt2va
Established Contributor

pet savings accounts

Is anyone aware of a CU that offers a pet savings account?  I've found 3 so far but I'm not eligible for membership in any of them.  One was in PA, one in ME, & one in OH although I emailed the OH one because they had a vague qualification about working for a company that does business in certain counties & the company I work for does have several offices in OH. 
Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
(7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)

Current (2016): EQ 605 (FICO)/TU 657 (FICO)/EX 646 (FICO)




Message 1 of 15
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mt2va
Established Contributor

Re: pet savings accounts

I ended up taking a slightly different route than I initially was looking at.  I opened them their own checking account.  I ran across one of those deals where you get $100 if you open a checking account & today was the last day to sign up & get the bonus.  Initially I was going to do it just for the bonus & close it out but I decided I think I will keep the account since the bonus money is being used for the vet bills I desperately need to pay off.  So the critters are getting their own check card & I did apply for $250 OD protection & they pulled EQ so will be interesting to see if I can qualify for that since I have 2 judgements & 2 collections deleted since I pulled my last FICO score a couple months ago.  (it was in the high 500 range then) 

 

I do mystery shopping to make a little extra money so I think I'm going to dedicate that money to the critter account.  And for those that asked the animals (well at least 2 of them) occasionally have income.  Now if I had just been able to save all the money from the last litter of puppies we had we would have had a head start on our vet fund.  However, most of that money went to caring for the pups as most folks know it is not a money making endeavor.

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
(7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)

Current (2016): EQ 605 (FICO)/TU 657 (FICO)/EX 646 (FICO)




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fishbjc
Senior Contributor

Re: pet savings accounts

I don't know of any.  I used to toss my spare change & anything extra I make from eBay into a little passbook account for the kitties.  It did come in handy a time or two.  I now have the Care Credit which is great in an emergency, usually at 0% for 3 months or more.

 

Ask your vet if they accept GE Care Credit, so helpful!

Message 2 of 15
demi
Established Contributor

Re: pet savings accounts

Just curious, where does their income come from ?  Seriously though, is there some special advantage, I have never heard of such a thing.  Does it do something that a regular saving wouldn't.  As the proud mother of rescued beautiful pug, with major skin and allergy problems, if there is something special I would be interested to know.

 


Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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mt2va
Established Contributor

Re: pet savings accounts

Thank you for your replies.  Well as one might surmise I’m facing some credit issues hence my visits to the forum.  I’m working on that but its going very slowly & I’m not able to qualify for credit anywhere it seems.  (my scores are high 500s so I’m not completely hopeless but apparently everyone thinks I am) 

 

At any rate my vet doesn’t accept Care Credit, but if I could have qualified I would have taken it as the ER vet hospital & the local vet school both accept it so it would be handy to have.  Just an FYI to anyone else reading this for your reference (if you have better FICO scores than I do LOL) Wells Fargo & Citi both offer health cards for vet bills.  Seems like I saw some pretty attractive financing like 0% if they were paid off in so many months. 

 

To answer the other question no there is really no special advantage to the pet care savings account except psychological.  If I tell my husband it’s like a Christmas account & once the money is in there it can only be taken out for vet bills etc then it is more likely the money will be there when we need it for actual vet bills.  He’s the one that I have the most problem with over our finances & that has been a struggle, but we’ve had some serious discussions that we need to get things straight & improve my credit.  See if the money is in a pet savings account then it has to be for pet expenses.  If that’s what it takes to get our finances straight then that’s what I’ll do. Smiley Happy

 

Currently I'm trying to raise money to pay for vet bills as I've told the animals more than once only one sick one at a time but they don't listen.  I had just racked up over $1,000 in vet bills with my 3 year old dog when our 12 year old decided to get sick yesterday.  I'm sure were are looking at least around $300 for her.  I've managed to scrounge up $61.50 so far.  Unfortunately vets don't take payments anymore after getting burned too much. 

 

P.S.  I wish they could have their own income.  Actually my 3 year old was a model in that he got to represent his breed on a line of poker chips, but all we were offered was 3 sets of the poker chips or $10 & I took the chips because I thought that was more fun.  And if I could just get them on my HMO plan I would be all set.  Just pay a $20 co-pay at their PCP (vet) & all testing, etc would be covered under that one fee.  Of course in hind sight I'm thinking I should have bought pet insurance for the youngest (our other pets are all old and/or disabled) but now he has a serious pre-ex condition so it wouldn't cover him for what I need the help with anyway.

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
(7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)

Current (2016): EQ 605 (FICO)/TU 657 (FICO)/EX 646 (FICO)




Message 4 of 15
demi
Established Contributor

Re: pet savings accounts

I can totally relate.  I just had no idea there was such a thing, please keep us posted what you find.

 

I had a yorkie-papillon a few years back that was bitten by the next door neighbors dog (long story, she was the instigator, would throw herself at the fence to annoy the pit bull and rotweiller next door, both of whom were sweet dogs, one time she got her front leg thru a knothole and that was that - didn't find out till later that yorkies have reputation of not being afraid of anything).  She need $2,500 dollars worth of doggie surgery by a doggie neurosurgeon.  Fortunately, I had a roommate (her house) and she was the house's dog, not necessarily mine, so she paid for it and I paid her back 1/2 of it.  It has terrified me ever since of what would I have done if the money wasn't available.  She healed fine, but never used it because it was pinned so long she thought she couldn't (she would use her leg to stabilize herself, but didn't walk on it), so I guess it could have been amputated.  Any case, I loved that dog dearly, and would have done anything for her, so I hate to see people having to make medical decisions over (for animals or people) based on expense.  Obviously there are times when you need to...I am not going to put my dog thru the wringer for three more months of life, but that is a quality of life issue as opposed to expense issue.

 

Rambling.  Sorry, feel passionate and I hope everything works out ok for you and your little ones.


Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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Message 5 of 15
mt2va
Established Contributor

Re: pet savings accounts

Thank you.  I agree its hard to have to make a decision based on money.  We’ve already talked about with our older dogs that we aren’t going to pay for life saving heroics but felt just not eating & vomiting was minor but turns out it is pancreatitis.  And my younger dog has hemolytic anemia.  And we had already spent almost $800 just to find out that is what was wrong.  He’s only 3 & I hope to have many more years ahead with him so I would really hate to make a decision based on finances.  But I’m scared it may come to that.  My parents fortunately helped out with some of the bills but I hate to ask them & they really don’t have the extra money.  (they put it on a credit card) 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
(7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)

Current (2016): EQ 605 (FICO)/TU 657 (FICO)/EX 646 (FICO)




Message 6 of 15
fishbjc
Senior Contributor

Re: pet savings accounts

The reason my kitties had their own passbook account was because it's just so easy to toss money in there and forget about it until needed.  Mine was next to my grocer.  If I saved $15 on coupons that visit, I'd stop and deposit $15, roll my coin and deposit it and throw my eBay funds in there.

 

Before I knew it, I had several hundred dollars.  That came in VERY HANDY.

 

Our cocker spaniel's surgery cost $1100.  At that time, I had the money so my decision wasn't based on cash.  I would have begged, borrowed or done just about anything to get her that surgery anyway, but for some it isn't an option. 

 

THINK also about Pet Insurance.  There are some very good policies out there.  You may also think about a reloadable visa card.  Walmart has them for a very small amount upfront (like $5).  You can reload as you have the funds.

 

I've already spent over $1,000 on my cats p'ing issues.  Caring for a pet is EXPENSIVE.  Two x-ray panels were almost $100.  Add the bladder ultrasound for $225, two vet bills, medications, urinalisis, blood draws.  I walked out of there in shock.  But you do what you have to do, even if it means not getting your nails done.  His special food cost almost $50 each bag.

Message 7 of 15
fishbjc
Senior Contributor

Re: pet savings accounts

My Megee is a working *model*.  She was recently chosen to appear in a new company that is going to be doing *pampered chef* type of home party for pets.

 

OK, she didn't get paid, but I do get a 50% discount.Smiley Very Happy

 

 

OP...not to worry you, but pancreatitis can run into thousands because there can be many flare-ups.  My friend has spent almost $6,000 on her cats pancreatitis issues, and she's only seven years old.  They nicknamed her Miss Puerto Vallarta because she cost them a vacation one year.

Message Edited by fishbjc on 03-27-2009 12:56 PM
Message 8 of 15
demi
Established Contributor

Re: pet savings accounts

Same dog that was bitten also developed pancreatitis later on in life.  Once we found out what was, was fairly controled on special diet...except every once in while would get into something else (hard when you have a cat another dog around). 

Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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corkyduckfan
New Contributor

Re: pet savings accounts

This is very interesting as I have never heard of pet savings accounts.  FYI, I have heard of pet insurance and it can work quite nicely.  A small minimum monthly payment and if you use it a few times a year, it more then pays for itself.  I live in WA state and I see it at most of the vets.
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