3.0/5
CareCredit Credit Card
- Best for: Patients and pet owners who can pay off a bill of $200 or more before its 6- to 24-month promotion ends
- What Sets It Apart: No-interest promotions at more than 285,000 provider and store locations; fixed-payment plans of up to 60 months
- Cost: $0 annual fee; 32.99% APR for new accounts outside promotions; 17.90% to 20.90% APR on fixed-payment plans; $1.99 a month for paper statements; late fee up to $41
- Features: No interest on purchases of $200 or more paid off before a 6-, 12-, 18-, or 24-month promotion ends; fixed payments for 24 to 60 months on purchases of $1,000 or more
- Pros: No interest on a promotion paid off in time; reusable for later bills; soft-check prequalification
- Cons: Interest back to the purchase date on any balance a promotion leaves; minimum payments may not clear a promotion in time; promotions not offered at every store
CareCredit is a Synchrony Bank credit card for health and pet care, accepted by enrolled dentists, doctors, veterinarians, and other providers, plus some stores. It lets you spread a bill of $200 or more over several months.
Key Features
- No interest on purchases of $200 or more paid off before a promotion of 6, 12, 18, or 24 months ends, with each provider choosing the lengths it offers
- Where offered, fixed monthly payments for 24, 36, or 48 months on purchases of $1,000 or more, or 60 months on $2,500 or more, at 17.90% to 20.90% APR (annual percentage rate)
- A 32.99% APR for new accounts on purchases outside a promotion, such as those under $200
- No annual fee, though paper statements cost $1.99 a month and a late payment up to $41
- Accepted at more than 285,000 provider and store locations, including Walgreens, Walmart, and Sam’s Club
Pros
- No interest at all on a promotional purchase paid off by its deadline
- Reusable, so a later bill of $200 or more from an enrolled provider can get a promotion too
- Prequalification with a soft credit check that doesn’t affect your credit score
- Online applicants are considered first for a Rewards Mastercard version that also works anywhere Mastercard is accepted
Cons
- The no-interest promotions are deferred interest, so if any balance is left at the end, you owe all the interest that built up from the purchase date
- At the 32.99% APR, paying $150 a month toward a $2,000 bill on the 12-month promotion leaves $200 unpaid and about $450 of interest owed, by our math
- Minimum payments may not clear a promotion before it ends
- Promotions aren’t offered at every store that accepts the card
Patients and pet owners who can pay the whole bill before its promotion ends, about $167 a month for $2,000 over 12 months, owe no interest at all. Otherwise, ask the provider for an interest-free payment plan, or a hospital for financial assistance, before you apply.
Learn more about the CareCredit Credit Card or see how it compares to the best 0% APR credit cards.
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