aresay
Level 2 Member
Does anyone have any experience with CareCredit?
By way of background, I am considering LASIK eye surgery, which is not covered by my health insurance. The procedure is estimated to cost a couple thousand dollars, which I do not want to pay all at once. The LASIK office offers the option of making installment payments, but only by using a company called CareCredit. My understanding is that CareCredit is basically just a credit card that comes with a 0% interest introductory rate for the first two years. The idea is that the company uses the credit card to pay the full price of the procedure and then you pay them back, hopefully before the introductory rate expires.
With that in mind, won't using CareCredit have a negative effect on my credit as I will essentially be carrying a balance every month (which I never do) until it is paid off? The other option is to pay everything up front, which would require dipping into savings.
By way of background, I am considering LASIK eye surgery, which is not covered by my health insurance. The procedure is estimated to cost a couple thousand dollars, which I do not want to pay all at once. The LASIK office offers the option of making installment payments, but only by using a company called CareCredit. My understanding is that CareCredit is basically just a credit card that comes with a 0% interest introductory rate for the first two years. The idea is that the company uses the credit card to pay the full price of the procedure and then you pay them back, hopefully before the introductory rate expires.
With that in mind, won't using CareCredit have a negative effect on my credit as I will essentially be carrying a balance every month (which I never do) until it is paid off? The other option is to pay everything up front, which would require dipping into savings.