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unexpected care credit account opened

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unexpected care credit account opened

Hello,

 

The other day I went to the dentist, they gave me a quote for some dental work and offered me a monthly payment plan but I declined. Today checking my credit, apparently they went ahead and applied for/opened up a Care Credit account without me knowing. (I guess one of the forms I signed said they would do this, my fault for not reading thoroughly)

 

So my question is: Should I keep the account? It has a $7000 credit limit and I don't plan on using it much if at all, so I think it would help my utilization. But I know that my AAoA will go down as well, which is already only at about 2 years right now. I'm not sure if having that much additional credit limit is worth it? Or should I just close the account?

 

If it helps, my current credit cards are all pretty much maxed out (working on paying these all off now) I have a $10,000 Amex, $3500 BOA, $2500 Capital one, $250 SDFCU. I got a 2nd job to help pay them off and should have them paid off by mid next year. Was hoping by that time to start the homebuying process. Just wondering how this new Care Credit account will affect me by next year.

 

Thank you!

Message 1 of 4
3 REPLIES 3
Super Contributor

Re: unexpected care credit account opened


@adavis813 wrote:

Hello,

 

The other day I went to the dentist, they gave me a quote for some dental work and offered me a monthly payment plan but I declined. Today checking my credit, apparently they went ahead and applied for/opened up a Care Credit account without me knowing. (I guess one of the forms I signed said they would do this, my fault for not reading thoroughly)

 

So my question is: Should I keep the account? It has a $7000 credit limit and I don't plan on using it much if at all, so I think it would help my utilization. But I know that my AAoA will go down as well, which is already only at about 2 years right now. I'm not sure if having that much additional credit limit is worth it? Or should I just close the account?

 

If it helps, my current credit cards are all pretty much maxed out (working on paying these all off now) I have a $10,000 Amex, $3500 BOA, $2500 Capital one, $250 SDFCU. I got a 2nd job to help pay them off and should have them paid off by mid next year. Was hoping by that time to start the homebuying process. Just wondering how this new Care Credit account will affect me by next year.

 

Thank you!


You might as well hold on to it. Since you're paying interest on the other accounts, it's nice to have one with no interest on it for the promo period. But make sure to pay the balance off within the promo period.... the interest rates after that are killers.

 

 


Total revolving limits 732500 (606000 reporting) 12/4/20 FICO 8 scores: EQ 715 TU 760 EX 735
Message 2 of 4
Valued Contributor

Re: unexpected care credit account opened

Hang on to it for the utilization help, because that's 30% or 35 % of your scores and age is only 15%.
Message 3 of 4
Established Member

Re: unexpected care credit account opened

Ok thanks for the replies!
Message 4 of 4
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