Is it hard to get approved for CareCredit?

For the best approval odds with CareCredit, you’ll need a credit score of 620 or higher. However, some users report approval with scores around 600. If you’re score is lower than 600 you’ll have a hard time getting approval.

Can you get denied for CareCredit?

The lender notifies you of loan approval or denial.

The lender will also decide what interest rate to charge you. If you’re considered high-risk, you may be denied credit entirely or you may be offered a loan with a very high interest rate.

Does CareCredit hurt your credit?

Does Applying For Care Credit Hurt (Or Affect) Your Credit Score? Applying for CareCredit creates a hard inquiry on your credit report — reducing your score by around 5 points.

Can anyone get a CareCredit card?

Applicants must be at least 21 years of age to apply by phone (must be 18 or older to apply). Applicants by phone must have written copy of the credit card agreement before proceeding, which can be printed from carecredit.com or you can obtain from your provider.

Why would I not get approved for CareCredit?

You don’t have enough income. You have too much debt relative to your income. There are too many recent inquiries on your credit report. There’s a recent delinquency or error on your credit report.

What is similar to CareCredit?

Best Credit Cards Specifically for Medical Expenses
  • CareCredit.
  • AccessOne MedCard.
  • Wells Fargo Health Advantage.

What is the credit limit on CareCredit?

$25,000
A CareCredit card has a maximum credit limit of $25,000. For charges of $200 or more, CareCredit offers “no-interest” promotional periods of six, 12, 18 and 24 months, depending on the provider. If you pay off your purchase within your promotional period, no interest will be charged.

Does CareCredit have an annual fee?

No Annual Fee Credit Cards.

How much does CareCredit cost the provider?

CareCredit Financing Options*
Financing Options Minimum Purchase Amount
Deferred interest/No interest if Paid in Full within 6, 12, 18 or 24 months $200+
Fixed Payment/Reduced APR 14.90% for 24 months 15.90% for 36 months 16.90% for 48 months $1,000+
17.90% for 60 months $2,500+
Standard Account Terms**** Up to $199

How soon can you apply for CareCredit after being denied?

1. Wait to reapply. How long you should wait to reapply for a credit card after an application is denied varies with each person’s situation, so there’s no hard-and-fast timeline to follow. The typical recommendation is that you should wait six months between credit card applications.

What happens if I don’t use my CareCredit card?

In the past, issuers could charge credit card inactivity fees if you failed to use your card for a long period. However, the Federal Reserve banned this practice in 2010. However, if the card has an annual fee, you will have to pay that fee whether you use the card or not.

What bank does CareCredit use?

Synchrony
today. CareCredit, from Synchrony, is one of the largest and most popular health, wellness and beauty credit cards in the nation, serving millions of families each year.

Can I use CareCredit twice?

CareCredit helps you pay for out-of-pocket healthcare expenses for you, your family, and even your pets! Once you are approved, you can use it again and again* to help manage health, wellness and beauty costs not covered by insurance.

Is 7 credit cards too many?

There is no ideal number of credit cards you can own. You can own as many credit cards as you want as long as you are eligible for it. However, having multiple line of credit can make you look like a desperate borrower and increases the overall available credit.

How long is CareCredit good for?

six months to 60 months
Instead of an open-ended date to pay off your debt, CareCredit offers cardholders the ability to pay off their debt with fixed monthly payments over a set term ranging from six months to 60 months. CareCredit may also offer a promotional financing rate for that period to help you avoid overbearing interest payments.

Can I use my CareCredit card for gas?

The Synchrony Car Care™ credit card is accepted at gas stations and auto parts and service businesses nationwide.

Is CareCredit a loan?

A personal loan. The CareCredit Card offers longer loan terms for lower interest rates, but depending on your credit history and financial situation, you may qualify for even better rates with a personal loan.

Can I use my CareCredit for my spouse?

It can be used as a method of payment for the account holder’s family members and even pets. Once an account holder is approved for the CareCredit credit card, the card can be used multiple times without the need to constantly reapply.