What is CareCredit? | CareCredit (2024)

FAQs

What is CareCredit? | CareCredit? ›

CareCredit is a health and wellness credit card with flexible financing options so you can pay over time for care you want or need.* Accepted at over 260,000+ locations! *Subject to credit approval.

What is CareCredit? CareCredit is a credit card designed to pay for out-of-pocket health and wellness expenses with convenient monthly payments.

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.

Like most credit cards, you must make your monthly payments on time and, if you miss a payment, you will incur a late fee. With CareCredit "No Interest if Paid In Full" promotional financing, you will be charged interest if you do not pay your promotional balance in full by the end of the promotional period.

It's easy for your patients or clients to see if they prequalify for the CareCredit credit card. It's a soft credit check with no impact to their credit score*—and that's good news for both them and your practice.

If you have good credit and present a low risk, the lender may decide that you should be approved and may offer you their most competitive rates. Some important things to note: If you are denied a loan because of bad credit, you have the right to receive a copy of your credit report.

Use your CareCredit credit card to pay outstanding healthcare bills online. Whether it's a recent visit to the dentist, your pet's vaccinations or your sister's LASIK treatment – CareCredit makes it easy for you to pay on time. Make an online payment to your provider.

The CareCredit Credit Card minimum payment is $29 or 3.25% of the new balance – whichever is higher. More specifically, the CareCredit Credit Card minimum payment is the greater of: $29. 3.25% of the new balance shown on your billing statement.

In some sense, the CareCredit card works just like a regular credit card. The only difference is that you can only use it to cover traditional medical insurance copayments​ on covered services.

You can get a CareCredit Mastercard cash advance at any ATM or with the convenience checks they send you. In addition, they will treat any purchase of certain cash like items as cash advances.

How long do you have to pay off CareCredit? ›

Financing Options

CareCredit also offers longer term special financing for 24, 36, 48 or 60-month periods with Reduced APR and Fixed Monthly Payments Required Until Paid in Full.

Yes, you can use your CareCredit credit card for qualifying, in-store purchases at all Walmart Store locations, including Walmart Supercenters and Neighborhood Markets, across the United States (does not include Gas Stations or Walmart.com). Search for your nearest location here.

The CareCredit Card offers these short-term financing options: no interest for 6, 12, 18 or 24 months on purchases of $200 or more. If you don't pay the balance back on time, you'll pay a jaw-dropping 26.99% annual percentage rate (as of January 2023) on every cent you financed in the first place.

CareCredit offers two types of promotional financing options: Deferred interest financing. No interest if paid in full within six, 12, 18, or 24 months on qualifying qualifying purchases of $200 or more at enrolled provider locations and select retailers in the CareCredit Network.

You Have Poor Credit or No Credit Score

Many credit card issuers check one of your credit scores when deciding whether to approve an application, and the interest rate and credit limit on new accounts. If you have a low credit score, you might find it's difficult to qualify for many cards.

In some sense, the CareCredit card works just like a regular credit card. The only difference is that you can only use it to cover traditional medical insurance copayments​ on covered services. The card can also be used for elective medical procedures that are not covered by traditional insurance plans.

You can get a CareCredit Mastercard cash advance at any ATM or with the convenience checks they send you. In addition, they will treat any purchase of certain cash like items as cash advances.

You can use CareCredit to cover high deductibles, co-pays, co-insurance, and to pay for treatments and procedures not covered by insurance.