CareCredit credit card: how its health financing works

CareCredit is a health and wellness credit card issued by Synchrony Bank. You can use it to pay for out-of-pocket costs such as dental work, eye care, hearing aids, cosmetic treatments and veterinary care at more than 285,000 locations in the CareCredit network. There’s no annual fee.

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The card’s main feature is promotional financing on purchases of $200 or more. The most common offers use deferred interest, which works differently from a standard 0% intro APR. Below, we explain how the financing works, what it costs if you don’t pay on time, and who the card makes sense for.

How CareCredit promotional financing works

CareCredit offers two types of promotional financing on qualifying purchases at enrolled providers and select retailers. Not every provider offers every option, so check with your provider before you pay.

The first type is “No interest if paid in full” within 6, 12, 18 or 24 months, which is deferred interest. Interest accrues from the purchase date during the whole promotional period. If you pay off the promotional balance before the period ends, you don’t pay that interest. If any amount is left, even a small one, interest is charged on the full original purchase amount, going back to the purchase date.

Here’s an example. You spend $1,200 on a 12-month promotion. To clear it in time, you need to pay $100 a month. If $50 is still unpaid at the end of month 12, you’re charged interest on the whole $1,200 for the entire year, not just on the $50.

The minimum payment on your statement may be lower than the amount you need to pay off the balance in time. To avoid interest, divide the purchase amount by the number of months in the promotion and pay at least that much every month.

The second type is reduced APR financing with fixed monthly payments. Purchases of $1,000 or more may qualify for 24 months at 17.90% APR, 36 months at 18.90% APR or 48 months at 19.90% APR. Purchases of $2,500 or more may qualify for 60 months at 20.90% APR. With these plans, you pay interest from day one, but the rate is lower than the standard APR and you know your monthly payment in advance.

Purchases under $200 don’t qualify for promotional financing and follow the card’s standard terms.

Where you can use CareCredit

The standard CareCredit credit card works only at providers and retailers in the CareCredit network. That includes dentists, eye doctors, hearing centers, veterinarians, cosmetic providers and other health and wellness businesses, as well as select partners such as Walgreens and VSP Vision.

There’s also the CareCredit Rewards Mastercard®, which you can use anywhere Mastercard is accepted. Through December 31, 2026, it earns 4 points per dollar on purchases under $200 in the CareCredit network and at health and wellness and pet stores, 3 points at grocery stores and restaurants, and 2 points everywhere else. Purchases of $200 or more in the network still qualify for promotional financing. You can only apply for the Rewards Mastercard online.

Pros of the CareCredit credit card

• No annual fee
• Promotional financing on health and wellness purchases of $200 or more
• Accepted at more than 285,000 locations in the CareCredit network
• You can check if you prequalify without affecting your credit score

Cons of the CareCredit credit card

• 32.99% purchase APR, which is high for a credit card
• With deferred interest offers, any unpaid balance at the end of the promotion triggers interest on the full purchase from day one
• The standard card only works within the CareCredit network
• Not every provider offers every financing option

CareCredit rates and fees

• Annual fee: $0
• Purchase APR: 32.99% for new accounts
• Penalty APR: 39.99%
• Minimum interest charge: $2
• Reduced APR promotional plans: 17.90% to 20.90%, depending on the purchase amount and term
• CareCredit Rewards Mastercard only: cash advance APR of 32.99% with a 4% fee ($10 minimum), balance transfer APR of 32.99% with a 5% fee ($5 minimum) and a 3% foreign transaction fee

Terms checked in September 2026. Rates and promotional options change, so confirm the current terms on CareCredit’s official website and with your provider before you use the card.

About CareCredit

CareCredit is a Synchrony solution, and the card is issued by Synchrony Bank. It’s not a medical provider. The card is a financing tool that providers enroll in so their patients and clients can pay over time.

The CareCredit app

With the CareCredit Mobile App, you can access a digital version of your card, pay your bill, set alerts, find providers and retailers that accept CareCredit and pay a provider’s invoice.

Our take on the CareCredit credit card

CareCredit can help if you have a specific health, dental, vision or veterinary expense of $200 or more at a provider that accepts it, and you’re confident you can pay it off within the promotional period. For larger bills that will take years to repay, the reduced APR plans are more predictable because there’s no retroactive interest.

It’s a risky choice if your income is irregular or you’re not sure you can clear the balance in time, because the deferred interest is charged at 32.99% on the full purchase. It also doesn’t work as an everyday card unless you have the Rewards Mastercard version. Before you use it, compare it with a general-purpose card that offers a true 0% intro APR on purchases, which doesn’t charge interest retroactively.

You can check if you prequalify without affecting your credit score. Approval is subject to Synchrony Bank’s credit review.

In the next article, we walk through how to apply for the CareCredit credit card.

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