Yes, your PatientFi spending limit (the approved funds) expires 120 days after you complete your application.
What is An Expired Spending Limit?
An expired spending limit with PatientFi refers to a pre-approved amount of financing that was not completely utilized within its validity period of 120 days from the date of approval.
What Happens If My Spending Limit Expires?
Once the 120 day period lapses, the remaining spending limit expires, and you can no longer use it for financing new treatments or procedures.
How Do I Refresh My Spending Limit? It's Easy.
If your spending limit has expired, you have the option to refresh it by logging into your PatientFi account. To do this, log in to your PatientFi Borrower Portal, click “refresh spending limit”, and confirm your personal details.
- This will initiate a soft credit check, which does not impact your credit score.
- Your eligibility for a spending limit extension will be reassessed based on your current credit profile.
Before refreshing your spending limit, ensure you have lifted any credit freezes if you have one currently enabled with the credit bureau, TransUnion.
Important Considerations
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Changes to Your Spending Limit
- If your credit profile has improved, you may qualify for a higher spending limit.
- If your credit profile has declined, your spending limit may be reduced, or you may no longer qualify for an offer.
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Impact of Outstanding Balances
- Any new spending limit you are approved for will be adjusted to account for any outstanding balances on your PatientFi account.
Plan Ahead for Future Treatments
If you’re scheduling future treatments with your provider, please keep the expiration date and potential changes to your spending limit in mind to avoid disruptions.
If you have additional questions or need assistance refreshing your spending limit, contact our Support Team at (866) 734-5979 or email support@patientfi.com. We're here to help!
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