anna asked in Business & FinanceCredit · 2 months ago

Approval Care Credit?

Hi everyone so I recently applied for a Care Credit and got denied I believe it’s because my credit is low and I asked for too much. I am currently paying off my card and will be done paying it off in January. My credit was messed up and I’m currently fixing it. How long do you have to wait to reapply? And how good does your credit have to be to get alteaste 3500 or 8000 please let me know and if you have any advice 

4 Answers

Relevance
  • 2 months ago

    Regardless of why it WAS low when you applied, one of the reasons that it IS low now is BECAUSE you applied. Whenever you apply, the mere fact that you applied makes your credit lower for a year. So you should wait more than a year before you reapply (so that it won't still be low because of the last time you applied).

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  • Judith
    Lv 7
    2 months ago

    When I applied for Care Credit I asked for only the amount to cover the procedure I needed.  I found that all of my medical providers, including my cat's vet, accepts Care Credit.

    I've been using the card for years as needed (I pay as much as I can of the procedures out of my own pocket) because I want to be sure that I can pay Care Credit back within 6 months of a procedure.  After that they charge interest - and not just on the outstanding balance - but interest for all the months going back to when they paid the provider.  Great incentive to pay it off quickly.

    You don't have to wait a certain length of time to refile an application but maybe you should reconsider how much of a credit line you are asking for.  Or simply ask them to set a line of credit they think reasonable given your income and other obligations.

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  • Shay
    Lv 7
    2 months ago

    You do realize that a Care Credit card has very limited usage at only a few medical providers - right.

    With a Care Credit card - it is best to apply for only the amount you need for whatever procedure you are trying to pay for.  (for example - I got a Care Credit card to cover the cost of my daughter's wisdom teeth removal.  That is when I discovered that the card was basically worthless - not everyone accepts that card.  Do some research and find out which medical providers in your area take the card.)  You can always apply for an increase in your credit line later if you discover you need it for another procedure.  If you have been on time with payments or have already paid off the previous balance - you should be able to get increases on the card when needed.

    A credit score of about 550 should be good enough but it also considers the credit limit you are asking for and the amount of your income.

    If you have too many other debts or if your income is too low then even with a better score you are not likely to get approval.  

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    • Shay
      Lv 7
      2 months agoReport

      And I did mention to DO THE RESEARCH to know which providers in an area takes the card.  In a bigger city - there are probably plenty of options.

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  • Anonymous
    2 months ago

    It is more difficult to get Care Credit than a regular credit card.

    You can reapply any time you like.

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