We know you need options to pay for the health and wellness care, services and products you want. Here, you’ll learn more about CareCredit Fair Financing Principles and find resources that explain how our financing options work and things to consider before you apply.
Synchrony’s CareCredit credit card is accepted by more than 270,000 providers, such as many vision, dental and veterinarian offices, and can also be used at select retailers like Walmart, Albertsons and Sleep Number. People use the card for everything from teeth whitening to Lasik eye surgery and from buying a new mattress to paying for hearing aids at locations in the CareCredit network.
Learn About Our Fair Financing Principles
We believe health and wellness care, services and products should be more accessible for consumers. But as healthcare costs continue to rise, consumers are carrying more of the financial burden for costs not covered by insurance.1
Fair Financing Principles
Include the following:
You deserve clear information about what Synchrony’s CareCredit credit card is and how it works.
CareCredit is a credit card that can be used to pay for care, services and products that support your health and wellness goals, as well as your pets’ needs.
CareCredit is a credit card, not an-in-house financing offer from your provider. CareCredit is not an interest-free credit card.
CareCredit offers deferred interest financing for qualifying purchases of $200 or more with payment terms from 6, 12, 18 or 24 months. Interest will be charged to your account from the purchase date if the promotional purchase is not paid in full within the promotional period. Minimum Monthly Payments required.*
CareCredit offers reduced APR fixed-payment financing for qualifying purchases of $1,000 or more for 24, 36, 48 and 60 months, depending on the amount financed. The 60-month Fixed Payment Reduced APR promotion is only available for purchases of $2,500 or more.**
Visit CareCredit’s Payment Calculator to help estimate your monthly payments based on the amount you’d like to finance and the promotional financing option you choose. This tool can help you know what payments to expect before applying for a CareCredit credit card.
You should receive accurate and clear information from your provider, as all providers offering CareCredit have completed and passed CareCredit Certification Training.
Synchrony requires one person to complete a training and to train anyone in the provider’s office on how to discuss the CareCredit credit card with patients. Recertification is required every two years.
Whether you learn about CareCredit from our website, the CareCredit mobile app, a provider or their staff, when you fill out the application, it is important to read the terms and conditions carefully, which are available on the application, the CareCredit mobile app and carecredit.com.
You deserve to know the estimated costs of the health and wellness care, products or services you’re seeking.
Your provider should share, in writing, the cost of any care, product or service with you, including the amount that may be paid by your insurance.
It is crucial to know and understand the details of your promotional financing options before you apply.
How long does the promotion last?
What is the applicable interest rate?
What is the required payment schedule?
When does a promotion expire and what happens once it expires, including what happens if you don’t pay the promotional balance in full before the expiration date?
Once you become a cardholder and you have a balance on your card, you will get monthly billing statements. They will clearly outline the terms of any promotional balance.
How much of the promotional balance remains?
What is the minimum payment required? Keep in mind that making only the minimum payment required by your monthly statement may or may not pay off the promotional purchase within the promotional period. If you would like to estimate a monthly payment amount that would pay off the full amount of a deferred interest promotional purchase within the promotional period, divide your deferred interest promotional purchase amount by the number of months in the promotional period. Making this optional payment can help you pay the promotional balance within the promotional period.
When does the promotional period end?
What interest has accrued to date, and will become payable if you do not pay the promotional balance in full before the expiration date?
You can find additional information on your offer terms and conditions on your CareCredit statement.
You can contact us to share feedback on the support received when applying for the CareCredit credit card.
Synchrony is committed to providing a positive customer experience. We welcome your feedback on the support and information you received while applying for our CareCredit credit card, including excellent service and any suggestions on how we can improve your experience. Contact us or call us at (866) 893-7864.
5 Things to Consider When Preparing for Out-of-Pocket Healthcare Costs
There are a number of ways to pay for health and wellness care, services and products. You are encouraged to maximize your options before applying for the CareCredit credit card.
Details on your promotional purchase(s) can be found here, including the respective promotional period expiration date(s), the promotional balance(s) and the deferred interest accrued for each promotional purchase for the statement period.
For statements with multiple promotional purchases, each transaction will appear here with the corresponding details.
Promotional Expiration Notice
Deferred interest promotion expiration date(s) and reminder to pay the balance(s) off in full before that date in order to avoid paying the deferred interest charges.
If you have multiple promotions expiring, each expiration notice will be included here.
Interest Charge Calculation
Shows the APR, interest charges, and expiration date for each type of transaction, including multiple promotional finance purchases.
For statements with promotional purchases, each transaction will appear here with its corresponding information.
I have dental insurance through my job... But a root canal, it didn't cover that.
Dental
Eric D.
I have dental insurance through my job... But a root canal, it didn't cover that.
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FAQs
The CareCredit Fair Financing Principles are grounded in our mission to responsibly provide clear and transparent payment options to help you pay for health and wellness costs over time (including pet care) so you can receive the care, services and products you want at locations in the CareCredit network. The principles have been a foundational aspect of our business and help to ensure clarity and transparency for current and prospective cardholders. These Principles are inclusive of the information that our providers are trained to share about CareCredit’s financing offers. Specifically, it outlines what you should know before applying for a CareCredit credit card.
We recommend that anyone interested in learning more about our promotional offers and how they work start by visiting CareCredit’s Fair Financing Principles page. This page outlines how deferred interest and reduced APR offers work, includes questions for consumers to consider to help them understand key aspects of the offer, a payment calculator, a financial glossary of terms and much more.
Consumers can also visit CareCredit’s Well U page for articles on financial health, health and wellness, and even pet care, including tips for prioritizing your health, information on popular procedures, and various options to pay for health and wellness costs.
Providers value their patient relationships and the trust they have built above all else and are committed to ensuring their patients are fully educated on CareCredit financing options and how they work. While over 70% of CareCredit cardholders apply for the credit card directly on the CareCredit website, many value the direct conversation with their provider’s office staff.
We recommend you complete the CareCredit application yourself and that you fully understand how the promotional financing options work.
To uphold these principles, we know training is essential. CareCredit requires training and offers provider support.
· Anyone who speaks with patients about the CareCredit credit card must be trained.
· Additionally, CareCredit offers all providers a wide range of resources, from reference materials, training courses, on-site and phone support, account management support and financial conversation coaching.
· CareCredit supports providers as they communicate with their patients about flexible financing options by offering standardized information and materials, online content, emails, communication through our mobile app, and more.
· We continually update and share new resources to ensure providers deliver best-in-class, clear and transparent communication about CareCredit, and are upholding the Fair Financing Principles.
· Providers offering the CareCredit credit card are monitored for cardholder complaints and dispute activity. If a pattern is established where a provider is not sharing clear and transparent information, providers and/or their office personnel will be asked to retrain. For recurring or egregious issues, CareCredit may terminate the ability for that provider to offer our financing solutions.
· CareCredit is not an in-house financing offer. It is a credit card that can be used to pay for care, services and products that support your health and wellness goals (including for your pets).
· CareCredit is not an interest-free credit card.
Be sure you understand the following, which can be explained by your provider or their office staff, before you apply:
· The length of a promotional period, including deferred interest or long-term payment schedules and applicable interest rate.
· When the promotional period expires and what happens if you do not pay the balance in full by the end of the promotional period.
· The required minimum payment amounts during the promotional period.
· When discussing a deferred interest offer, it is important to note that interest accrues on the outstanding promotional balance during the promotional period from the date of the transaction. Paying interest can be avoided ONLY IF the balance is paid off BEFORE the end of the promotional period.
· For answers to these questions and others, you can contact CareCredit or call the number on the back of your CareCredit credit card. We are available every day from 8:00am – 12:00am midnight (EST).
After using your CareCredit credit card to make a promotional purchase, you will receive a receipt for your transaction that includes a description of the promotion, the length of the promotional period, how deferred interest works (if applicable), and other promotion terms.
For deferred interest financing, within 3 days of applying for a CareCredit credit card through your provider and making a deferred interest purchase on the same day, you will receive a call or text from CareCredit to provide information about how deferred interest works. In addition, monthly billing statements will always show the following:
· The minimum monthly payment amount and due date to avoid a late payment charge. Keep in mind that making only the minimum payment required by your monthly statement may or may not pay off the promotional purchase within the promotional period. If you would like to estimate a monthly payment amount that would pay off the full amount of the promotional purchase within the promotional period, divide your promotional purchase amount by the number of months you have left on the promotional period.
· The total payment you need to make in order to pay off your balance before the end of the promotional financing period.
· The amount of interest accrued up to the last payment period and owed if you do not pay off the full amount of the deferred interest promotional balance before the promotional period ends.
· When the account is at 60 days and then 30 days before the end of the promotional period, you will see a note on the first page of your statement reminding you of the final promotional period end date.
If you are a cardholder and have questions about your account you can contact CareCredit here or call the number on the back of your CareCredit credit card. We are available Monday through Sunday from 8:00am – 12:00am midnight (ET).
If you want to apply, click here or call (800) 677-0718.*** Find out immediately if you have been approved by using our easy, automated system anytime or applying with a live agent 24/7 365 days a year.
* No interest will be charged on the promotional purchase if you pay it off, in full, within the promotional period. If you do not, interest will be charged on the promotional purchase from the purchase date. The required minimum monthly payments may or may not pay off the promotional purchase before the end of the promotional period, depending on purchase amount, promotional length and payment allocation. Regular account terms apply to non-promotional purchases and, after promotional period ends, to the promotional balance. For new accounts: Purchase APR (interest rate) is 29.99%; Minimum Interest Charge is $2. Existing cardholders: See your credit card agreement terms. Subject to credit approval.
** Interest will be charged on promotional purchases from the purchase date. Fixed monthly payments are required until paid in full and will be calculated as follows: on 24-month promotions – 4.9876% of initial promotional purchase amount; on 36-month promotions – 3.0377% of initial promotional purchase amount; on 48-month promotions – 2.6997% of initial promotional purchase amount or on 60-month promotion - 2.5339% of initial promotional purchase amount. The fixed monthly payment will be rounded up to the next highest whole dollar and may be higher than the minimum payment that would be required if the purchase was a non-promotional purchase. Regular account terms apply to non-promotional purchases. For new accounts: Purchase APR is 29.99%; Minimum Interest Charge is $2. Existing cardholders: See your credit card agreement terms. Subject to credit approval.
*** Phone applications are only for the CareCredit credit card. To also be considered for the CareCredit Rewards Mastercard® please apply online. Must be 18+ to apply. Must be 21+ to apply by phone.
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