What Is CareCredit?

Are you asking, “What is CareCredit?” CareCredit is not your average credit card. It offers financing on wellness, beauty, and health-related treatments and other procedures that your insurance may not cover. If you have these expenses, CareCredit offers financing with periods of 0% interest. While it may sound appealing, be sure that you read the fine print and pay the entire amount by the end of the promotional period to avoid being hit with extreme interest rates.

All About CareCredit

Maybe you are asking, “What is the CareCredit card?” Well, CareCredit has been around for 30 years. It began as a credit card for dental services and was originally called DenCharge. However, it began to evolve over the years, offering financing through Synchrony Bank, which covers a variety of health and wellness services. Today, over 11 million cardholders have possession of a CareCredit card.

While it is primarily only used by the main cardholder, it is possible that other family members can take advantage of the card for their healthcare expenses as well. To do this, you will have to add your family member as an authorized user to your account.

Applying for CareCredit

Are you asking, “How do I get CareCredit?” The application process is much easier than other credit card applications. The information that you will need to provide is extremely minimal and more health-related than financial-related. You will need to make sure that you provide the name of your doctor or the type of procedure you plan on having. Additionally, CareCredit may request basic information including your name, address, date of birth, and Social Security Number. The only financial piece of information that you must provide is your housing information and net income.

Where to Use CareCredit

Currently, CareCredit is accepted at over 200,000 providers nationwide. You can go onto the CareCredit website to take advantage of a tool that helps you locate providers that accept the card.

For example, CareCredit is accepted by some major retailers including:

  • Walgreens
  • Walmart
  • Sam’s Club
  • Bowflex
  • RiteAide
  • Vsp
  • Duana Reade

Additionally, CareCredit offers coverage on various other healthcare needs including pet care. If you own a pet and don’t have pet insurance, you may benefit from a CareCredit card.

Here are some current services that are eligible for CareCredit financing:

  • Chiropractic
  • Pet Care
  • Cosmetic
  • Day Spa
  • Dermatology
  • Dentistry
  • Fitness
  • Hearing
  • Labs and diagnostics
  • Pharmacy/personal care
  • Medical equipment
  • Sleep
  • Surgery centers
  • Specialists
  • Primary care/clinics
  • Vision
  • Weight loss

CareCreddit does offer certain financing option terms. However, the card does not expire as long as you keep your account in good standing.

You should also note that you will be given a fixed monthly payment amount that will be based on your balance and through the duration of the financing period of your choosing. CareCredit defines short-term financing as 6, 12, 18, or 24 months for any purchase that is $200 or more.

Furthermore, CareCredit’s 0% APR period is a deferred-interest offer, which means that you are accruing interest during the promotional period. If you fail to pay off your entire balance prior to the end of your financing term, you will be responsible for paying that interest.