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Financial Glossary

APR

A credit card's interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate, called the annual percentage rate (APR).

Deferred Interest

This is the interest that accrues during the promotional period. With a No Interest if Paid in Full within the Promotional Period special financing option, this interest is added to your account if you do not pay off your promotional balance within the agreed to 6, 12, 18, or 24 month promotional period. To avoid paying the accrued interest, the entire promotional purchase balance must be paid in full.

Equal Monthly Payments

Paying an equal amount each month throughout the promotional period allows you to pay off your balance within the promotional period. The equal monthly payment amount may be higher than the minimum required monthly payment shown on your billing statement.

Finance Charges

This is an interest fee charged on revolving credit accounts. Finance charges are calculated using the APR and the balance.

Fixed Payment

The amount due every month from a borrower to a lender under a reduced rate, such as the CareCredit Reduced APR and Fixed Monthly Payments Required Until Paid in Full promotional financing option. The fixed monthly payments are equal payments that will pay off the loan principal plus interest, in full, by the end of the loan term.

Minimum Monthly Payment

The minimum dollar amount you must pay each month on your CareCredit account. Making minimum monthly payments may or may not pay off your purchase before the end of the promotional period.

Promotional Period

A pre-determined, set period of time during which special financing terms apply to your CareCredit account - e.g. 6, 12, 18 or 24 months.

Revolving Credit Line

An agreement by a bank to lend a specific amount to a borrower and to allow that amount to be borrowed again once it has been repaid. A credit card typically has a revolving credit line.

Special Financing

Promotional financing offers that we extend to new and existing cardholders. Subject to credit approval. Promotional financing offers that we extend to new and existing cardholders. Subject to credit approval. Promotional financing options are not available at all retail locations that accept CareCredit and standard account terms will apply to such purchases.

Standard Terms

CareCredit Standard Terms is for smaller purchases that are under $200. Use your card for chiropractic treatment, teeth whitening products, co-payments, skin care products or pet care supplies at enrolled providers. Purchases under $200 are not eligible for Special Financing. Interest accrues on the unpaid balance according to the terms of your credit card agreement. CareCredit is also now accepted at select retail locations. Promotional financing options are not available at all retail locations that accept CareCredit and standard account terms will apply to such purchases.

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