What type of credit is CareCredit?
Asked by: Richmond Konopelski | Last update: February 6, 2025Score: 4.6/5 (67 votes)
Can I use my CareCredit card like a regular credit card?
Unlike regular credit cards, CareCredit can only be used to pay for medical expenses and is not accepted as a form of payment outside of healthcare facilities. As a result, it is typically not possible to use another credit card to pay off a CareCredit balance.
What type of account is CareCredit?
CareCredit is a credit card designed to pay for out-of-pocket health and wellness expenses with convenient monthly payments.
What are the cons to CareCredit?
There are a few cons to using CareCredit, including: Higher interest rates after zero-interest promotional offer. After the zero-interest promotional period, the CareCredit interest rate zooms to Prime +18.99. As of early March 2024, the interest rate on CareCredit debt under this repayment plan was as high as 29.99%.
Does CareCredit hit your credit?
CareCredit allows anyone to check if they qualify for a card. This option won't affect your credit score. In order to apply, you will need to provide Synchrony with the following information: Name.
$6K/MONTH (Experience Not Required) HONDA IS HIRING I NO APPLICATIONS TO START WORK FROM HOME JOBS
What is the highest credit limit for CareCredit?
CareCredit Interest Rates
With the CareCredit card, you have an up to $25,000 credit limit. That can cover a wide spectrum of medical procedures or treatments. You have several financing options to choose from and can get financing of 6, 12, 18 or 24 months for costs exceeding $200.
What happens when I pay off CareCredit?
With No Interest if Paid in Full promotional financing options, no interest will be charged on your promotional balance if you pay your balance in full by the end of the promotional period. If you do not, interest will be charged to your account from the purchase date.
What credit score is needed for CareCredit?
The CareCredit® credit card is a medical credit card that you can use to pay for certain medical procedures, including plastic surgery. To qualify for the CareCredit credit card, you need a credit score of 640 or more, which is in the fair credit score range for FICO®.
How can I avoid paying interest on CareCredit?
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.
Can I use my CareCredit to pay a bill?
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.
Is CareCredit an actual credit card?
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 270,000+ locations!
Can I use CareCredit for groceries?
Your CareCredit credit card is accepted at select Albertsons Companies grocery and pharmacy store locations. With over 2,200 Albertsons Companies locations, you have more ways to stock up on certain eligible health, wellness and personal care items!
Can I use my CareCredit card for vitamins?
Over-the-Counter Products
You can also use CareCredit for over-the-counter (OTC) medications and various health and wellness products. Some of these items include: Vitamins and supplements.
Do hospitals accept CareCredit?
Hospitals and Health Systems Near You
CareCredit is accepted through a national network of more than 270,000+ healthcare provider, health-focused retail locations and select national health systems & hospitals.
Is it hard to get approved for CareCredit?
If you're considered high-risk, you may be denied or offered a loan with a very high interest rate. If you have good credit and a low debt-to-income ratio, the lender may approve you and offer you its most competitive rates. Even if you're approved, you aren't required to take the loan.
What is the credit limit on CareCredit?
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.
Is there a penalty for paying off CareCredit early?
CareCredit for Treatment and Care
CareCredit can help you move forward with getting the procedure you've always wanted. With minimum monthly payment options, no up-front costs and no prepayment penalties, you can get your procedure sooner.
How long does CareCredit give you to pay?
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.
What is a good credit score?
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent.
What bank does CareCredit use?
We help make care possible ... today. CareCredit, from Synchrony, is one of the largest and most popular health, wellness and beauty credit cards in the nation, serving millions of families each year.
Does CareCredit do a hard pull on your credit?
Carecredit cons:
If you prequalify and then you apply, there will be a hard inquiry on your credit report. A pre qualification offer is good for the current browser session only. After that, you can submit a new prequalification request.
What is the CareCredit interest rate?
To qualify for 0% interest, you must pay off your balance by the allotted time period, or else you'll owe a 32.99% APR on the full balance. There's also long-term financing for periods of 24, 36, 48 or 60 months.
Does CareCredit hurt my credit score?
Unlike hard inquiries from credit applications, these don't affect your credit scores. The CareCredit credit card has an online prequalification form that won't affect your credit scores and can give you results within seconds.
Is CareCredit considered a loan?
The CareCredit Card, designed primarily for healthcare expenses, offers unique financing options compared to regular credit cards. Its loan terms vary based on promotional offers, ranging from short-term (6 to 24 months) to long-term (24 to 60 months) interest-free periods if paid in full within the promotional period.