Question about care credit for top surgery

[Dominick_81]

What are the qualifications for the care credit card? Do you have to have a steady job in Oder to qualify? Just wondering b/c I'm gonna I'm only getting temp jobs here and there and wondering if I would qualify for the care credit card.

Anyone use the care credit or know any info on the qualifications?

[DriftingCrow]

I've used it before, they'll basically give credit it anyone who's breathing.    I was approved for a few thousand bucks in about 2 minutes.

The thing isthough, their interest is pretty high.

They tend to have special sign up deals, and which one you get depends on your credit score. The deal I was given was 6 months interest free, and after that 6 months, I'd have interest of 20-something percent. (The other deal I wasn't given was paying interest immediately but at a much lower rate).

[Darrin Scott]

I've used it before, they'll basically give credit it anyone who's breathing.

Not anymore. I've applied a few times and got denied every time. Thankfully I have the money to get surgery, but it wasn't easy for me to get approved from them at all.

[aleon515]

The other thing is you absolutely have to make all payments on time. Don't ever send any payments late. There is zero tolerance for any late payments. They will steeply hike up your already high interest into the astronomic range. So you really have to be conscientious. That said this loan saved my cat's life. And I know of several trans guys getting surgery financed or partly financed by this. Keep in mind you may be paying hundreds or even thousands of dollars in interest. And I think you read this right.


You can go to their webpage (or pick a surgeon and the webpage might take you there) and actually plug in real numbers and find out what your payment would be. Keep in mind that some surgical centers might not take the care credit. So an
additional $1200-2000 goes to them.

--Jay

[Dominick_81]

Thanks guys. I read there's no intrest for like 12 months or 24 months depending on the plan your going with...? Also read low monthly payments... Is that correct?

[DriftingCrow]

The monthly payments of course depend on how much you owe. I currently only have about $800 left to pay off on mine, and my monthly payment is only $25. My interest rate is 20-something percent, so I try to pay extra as much as possible. When I had more on it (around $2,500), I think my monthly payment was around $70 (I forget exactly, because I was paying around $100 or more a month on it to quickly get it down).

This credit card minimum payment calculator may be helpful to you in deciding if trying care credit is right for you: http://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx (I just tested it with my current regular credit card's amount, interest, and minimum as well as with my care credit and it comes out with an accurate minimum payment. I am not entirely sure, but I think stuff like minimum payments are regulated by federal statute, so it should be uniform).

Also, Credit Karma gives out free credit scores and tracks your score for free (unlike sites like freecreditreport.com where it's only free for a limited time). You can also plug in a loan you'd like to get to see how it would impact your score. I use it all the time: https://www.creditkarma.com/help/howitworks 

[Dominick_81]

Thanks for the info.

[aleon515]

That's good info above. There are payment terms way out. I think up to 4-5 years. But keep in mind that's a fairly long time to be paying back $6000, say, and a lot of interest. However, that said there may be a good reason to do this. But pay back on time, is all I'll say.

They have a calculator: http://www.carecredit.com/payment_calculator/

This wouldn't tell you if you're accepted as a victim, I mean loanee.

--Jay

[Dominick_81]

That's good info above. There are payment terms way out. I think up to 4-5 years. But keep in mind that's a fairly long time to be paying back $6000, say, and a lot of interest. However, that said there may be a good reason to do this. But pay back on time, is all I'll say.

They have a calculator: http://www.carecredit.com/payment_calculator/

This wouldn't tell you if you're accepted as a victim, I mean loanee.

--Jay

Thanks.