Care Credit

[krissn333]

In an ideal world, I'd just have a bunch of money socked away for my pups' emergency medical needs, but, now being unemployed for the second time in a year's time, I don't.

 

I was doing some reading on the Care Credit website and I see they have two different options...no interest if paid in full within a certain time period, and extended care which is 14.9% interest for 24 to 48 months.

 

Just wondering if anyone has Care Credit and what payment option you chose.

[winnie]

I'd be interested in seeing the responses for the no interest option... especially since I just received a $1,500 vet bill for my horse which is not covered by my equine insurance policy.

 

As for the interest option... my Capital One Visa has 8.9% interest rate. I definitely wouldn't be interested in paying 14.9% to Care Credit.

[win4profit]

We use care credit for all the big expenses. My vet and the E-vet both accept it. My vet will actually apply a credit to my account if it helps me to reach the next level to get longer to pay it off. For instance, if my bill 'only' comes to $450 and I need $500 to get a year to pay it off as opposed to 6 months for the $450, they will bill care credit $500 and put a $50 credit on my account. My eye doctor and my dentist also accept it!

[kamsmom]

I have a card for care credit and we used it once for vet bills. The only option I have used is to pay it off in the time alloted for zero interest, otherwise it is way too high of an interest rate. But, if it is what you need then it is useful at the time.

[Guest jettcricket]

I've used Care Credit as well....just be careful. They have different plans on which to pay it off, but if you don't their interest rate is a killer!! I used it this past summer for some emegency dental work,. I'm out of work now so I can only pay a bit over the monthly bill and they socked me with a $300.00 interest rate in one month! I just about fell out of my chair. Must come up with a way to pay it off quicker.

Edited May 9, 2011 by jettcricket

[Guest d0ggiem0mma]

See if you can apply for a regular credit card maybe? A lot of them offer 0% interest for the first year and after that the rates will probably be lower than Care Credit anyway.

[MP_the4pack]

I've used it a lot, in fact I have a balance on it now for Onyx's $3000 dental she had (just a month before she died)

 

I figure out how much per month I need to pay in order to pay it off by term end. I usually up it a little to give myself a 1 month leeway.

 

Don't follow their "minimum payment" requirement. That just keeps the "unpaid for 30, 60, or 90 month" clock from triggering.

 

If you have a $3000 bill to pay off in 12 months, plan on paying $300/month. If you have a difficult month, then you have the leeway to just pay the "minimum required" and not miss the term of the 0%.

 

If you end up not paying minimum requirements or going over the term time limit, you will be socked with high interest and past interest for the year.

 

If you can handle the monthly payments, it is very well worth it.

 

The negative thing about getting any new credit card if you already have Care Credit is that all new cards hit your credit score. You can reuse Care Credit everytime you have a big bill and get 0% for a certain amount of time.

If you've never had Care Credit, your score will still take the same hit, but if you need it again, you won't have to apply for another card.

Also, if you need to pay your vet "now", they pretty much have Care Credit ready to go. No 30 wait for a new card.

[Guest KennelMom]

We use care credit b/c it's an interest free loan. I always forget where the cut off is...I think it's $199...basically, under that amount and its interest free for 3 months, over that amount and it's interest free for 6 months. I put larger vet bills on care credit, pay a standard amount every month until the promo time is about to expire on one of the balances and then off that balance. Their website has a really great chart on it that shows you all your current "promo" balances and when they'll expire. They apply payments to the balances that are due to expire first. If you don't pay it off in the promo period, you owe back interest and it works like any other credit card. I'm not aware of 24-48 month extended pay options.

 

You can also use care credit for human health care costs, from what I understand. I've never tried or needed to, but it can be used for more than just dog stuff.

 

It's a pretty handy little card...I like having it around.

[Guest zoolaine]

I love Care Credit. I have always gone with the 0% interest option. My old vet in Washington was awesome and would always give me the longest interest free rate they could but it seems lately everyone is just offering me 6 months. I have always managed to pay it off before being charged the interest. It seems that everytime I get close to paying it off something comes up and it is back up. They make it quite clear when a promotional period is about to expire and how much you need to pay.

[Guest Hoolyghans]

Have used Care Credit 3 times. Twice for the dogs and once when I needed an enormous amount of dental work done. Each time I calculated my payments to get it paid off a month before the promotional period was due. I'm assuming most people fall into the trap of paying just the minimum billed and getting a load of interest heaped on otherwise they wouldn't be in business.

[krissn333]

I have used my Best Buy card to buy lots of things, taking advantage of the interest free financing, and I always pay it back a couple of months early to avoid the interest.

 

Seriously considering applying for a card

[mangos_mom]

Another Care Credit user here- which reminds me that I have a balance to pay off by 6/1. The only downside I see is that if you miss that payoff, they will charge you the back interest for that particular item. And, of course, their interest rate is pretty high. I missed one payoff, but otherwise, I've always managed to keep it interest free. Use it for both pet and human medical expenses if the amount is higher than the amount of expendable cash I have available at the time of the service.

[Guest snakes]

I have used it for both my own medical bills and the pups. I am only going to use it through the interest free period and pay it off though, after that the interest is waaaay to high. A regular credit card would be better.

I did only use it to spread out my payments though so i wouldn't have such a big chunck out of my bank account all at once. Every office accepted it easily, one even was able to look up my account through their machine when i didn't have my card on me!

[winnie]

How does one go about applying for Care Credit? I went to their website and see that my equine vet's practice is listed. Do I need to apply through my vet's office or can I just fill out the online application? How do I know which promotional rates will apply? I'd only want the intrest free option - just trying to give myself a few months to pay down a $1,500 vet bill.

[Guest kydie]

I have had one for years,, in case of BIG bills,, I have always paid mine off within 2 to 3 months,, with 0% interest,, no problems

You can cll or apply on line,, first call your vet and see if they accept the care crdit card,,, I live in the middle of nowhere,, my small town vet even accepts it

Edited May 10, 2011 by kydie

[Guest KennelMom]

How does one go about applying for Care Credit? I went to their website and see that my equine vet's practice is listed. Do I need to apply through my vet's office or can I just fill out the online application? How do I know which promotional rates will apply? I'd only want the intrest free option - just trying to give myself a few months to pay down a $1,500 vet bill.

 

 

the interest free is an automatic thing when the office puts the charge through. They'll print out a special receipt that confirms your 3 or 6 months interest free financing. The amount of time is based on the amount of the bill. I'm pretty sure the cutoff between 3 and 6 months is $199...if it's over that, it's automatically interest free for 6 months.

 

We initially applied at the vet office when Harmony was very sick and accruing massive bills...every little bit interest free helps. They've actually lowered our interest rate over the years and it's one of our lowest interest rates now...but we've always paid stuff off in the interest free time period. You should be able to apply online here: http://www.carecredit.com/apply/landing.html

[krissn333]

Just thought of something...I don't have a job right now so I'm wondering if I'll be able to even get a card...

Edited May 10, 2011 by krissn333

[Guest LittleGreys]

I have used it and am very glad I have it. Our vet clinic does the no interest plans for 18 months. Under $300 is 6 months no interest, anything over $300 can be 12 or 18 months no interest. Over 18 months and the higher rates apply.

[krissn333]

I applied and was approved It just helps me to rest easy a bit that if we have an emergency, I will have something to pay with that won't charge me a bunch of interest. When you go to the ER here (and I'm sure it's this way at most after hours places) you have to give them your credit card up front before they'll start working on your pet if they need surgery or hospitalization. So, that's a big load off of my mind. Thanks everyone for sharing your experiences

[Charla]

Just remember to ask for the Interest Free each time you use it, they don't do it automatically. I've used mine for my extensive dental work and at the vets and they each offer various time periods for different amounts from 6 - 18 months. Each use is a different payoff ... they don't combine amounts even from the same practice. I divide each amount by the payoff time period and subtract a month to be safe. I keep a list of payoff due dates in the back of my check book and live by that, the default interest rate if you go beyond is 29.99% of the entire total, not just what is left to pay.

Edited May 11, 2011 by Charla

[Guest eaglflyt]

Yes, we've used Care Credit. We have always chosen the option of deferred interest and if paid before the end of the promotional period, no interest! It is true. NO interest if paid off before the end of the promotional period. We've been very pleased with Care Credit (GE Money).

[Guest KennelMom]

Just remember to ask for the Interest Free each time you use it, they don't do it automatically. I've used mine for my extensive dental work and at the vets and they each offer various time periods for different amounts from 6 - 18 months. Each use is a different payoff ... they don't combine amounts even from the same practice. I divide each amount by the payoff time period and subtract a month to be safe. I keep a list of payoff due dates in the back of my check book and live by that, the default interest rate if you go beyond is 29.99% of the entire total, not just what is left to pay.

 

the interest rate will vary from person to person...our is 11.9. Not the best, but not the worst. they also put a payoff chart in your online account so you can see all the different promo balances you have, what the starting and current balance is on each one and when the promo ends. I have to say, GE Money manages the accounts very well and their customer service is really good (only had to call once though). They aren't trying to screw their customers, in my experience.

[greyhead]

We've used it for our dogs and for my own dentist, always interest free! It's a good thing to have.

[Charla]

Kennel Mom ,you're right about the interest rate I should have said it can be as high as 29.99%. I've always paid them off before the promo ended and have never paid any interest, they are very handy to have and the one time I called them gave great customer service.

Edited May 11, 2011 by Charla

[Guest avadogner]

I am so glad to find this thread as we are over $2000 in just 6 wks with Ava (11y old with hip/back proloblems, newly diagnosed hypothyroid, med managed chronic pain) and Augie (newly retired with broken hock bones that were repeatedly broken in past and never surgically fixed). He was rested and downgraded until rebreak occured until he came to us. It has taken tons of research and to come this conclusion. He was still winning and making money and poof he gets 6 months off and sold to another track in sanother state. He then raced for and placed for a couple months and then got another vacation. I know / hope they did the best they could but the bones are so bad we can't even operate. There's not enough bone to pin together. Our Ortho is top notch and consulted the world renowned Dr. Gillette at Auburn's vet sports medicine program. We are splint/ small casting it and change it every 2 wks so we can prevent skin breakdown and hope to have enough new bone growth to then operate in a few months.

 

Sorry to go go all soa box there. We filled out requests forms today to help with it all. Money is tight and will be very tight until I get my kidney transplant and can return to working. My DH's business was hit 2 wks ago by aF5 tornado and totally destroyed. We are well covered insurance wise but it takes time to get paid from the insurance company especially when THOUSANDS lost homes and businesses in the disaster. Alabama looks like a war zone and it breaks my heart!

 

Anyway, i'm glad to hear it is a good option as long as you pay off quickly. I'm almost to the point of choosing between my 14 daily meds and Augie's upcoming surgery. I always go with them first but DH is voice of reason. As he says"if there' s no mummy then who will spoil them ?". I refer to them as our kids and remind him "Atleast we won't be paying for college!"