CareCredit was founded in 1987. This credit card is issued by Synchrony Bank.
This credit card was designed for people to use when faced with medical expenses that aren’t covered by insurance, including prescriptions.
The CareCredit card is accepted by more than 225,000 providers, but it’s not a general-use type of card that people would also reach for when making nonmedical purchases.
While this type of credit card is accepted by many health care providers, not all doctors and hospitals accept this card.
CareCredit is a deferred payment and interest credit card. Minimum monthly payments must be made and users must pay the balance in full, usually within 12 months, to avoid any interest charges.
At this time, the company offers longer-term financing at a lower interest rate for larger medical purchases. Currently, purchases of $1,000 or more can qualify for:
- 14.9% APR for 24 months.
- 15.9% APR for 36 months.
- 16.9% APR for 48 months.
Purchases of $2,500 or more may be eligible for a 60-month loan at 17.9%. For all of these financing options, fixed monthly payments are required until the balance is paid in full.
In January 2022, CareCredit paired with Pawlicy Advisor to offer health care financing for pets.
CareCredit maintains a corporate office in Stamford, Connecticut.
CareCredit was founded in 1987. This credit card is issued by Synchrony Bank.
This credit card was designed for people to use when faced with medical expenses that aren’t covered by insurance, including prescriptions.
The CareCredit card is accepted by more than 225,000 providers, but it’s not a general-use type of card that people would also reach for when making nonmedical purchases.
History
While this type of credit card is accepted by many health care providers, not all doctors and hospitals accept this card.
CareCredit is a deferred payment and interest credit card. Minimum monthly payments must be made and users must pay the balance in full, usually within 12 months, to avoid any interest charges.
At this time, the company offers longer-term financing at a lower interest rate for larger medical purchases. Currently, purchases of $1,000 or more can qualify for:
- 14.9% APR for 24 months.
- 15.9% APR for 36 months.
- 16.9% APR for 48 months.
Purchases of $2,500 or more may be eligible for a 60-month loan at 17.9%. For all of these financing options, fixed monthly payments are required until the balance is paid in full.
In January 2022, CareCredit paired with Pawlicy Advisor to offer health care financing for pets.
CareCredit maintains a corporate office in Stamford, Connecticut.