CareCredit: fact sheet

Independence: Arclo is unaffiliated with CareCredit and Synchrony Bank. Everything on this page is taken from CareCredit's own published pages on the dates shown, with links. Nothing here is a recommendation for or against the product. This page does not include approval rates, merchant fees that the provider has not published, or claims providers make about one another. If a fact is out of date, the linked page governs; tell us and we will update it.

What it is

CareCredit is a credit card issued by Synchrony Bank for health, wellness, and veterinary expenses. It is a revolving line of credit: a cardholder applies once and can use the card at any accepting location, subject to the account's credit limit. CareCredit states it is accepted at more than 285,000 locations.

Promotional financing, in CareCredit's words

• Deferred-interest promotions of 6, 12, 18, and 24 months on qualifying purchases of $200 or more. CareCredit describes these as "No Interest if Paid in Full" offers and notes they are "sometimes called Deferred Interest."
• CareCredit's disclosure: "Interest accrues during the promotional period from the purchase date but will not be charged if you pay your promotional balance in full by the end of the promotional period."
• Reduced-APR fixed-payment plans of 24 to 60 months for larger purchases, with published examples of 17.90% for 24 months, 18.90% for 36 months, and 19.90% for 48 months on purchases of $1,000 or more.
• Which promotions are available depends on the practice and the purchase amount.

Rates and fees, in CareCredit's words

• Purchase APR for new accounts: 32.99%, as of May 30, 2024.
• Penalty APR: 39.99%.
• Minimum interest charge: $2.
• Existing cardholders' terms may differ; CareCredit directs them to their card agreement.

Applying, in CareCredit's words

• Prequalification: "no impact to your credit score to check if you prequalify."
• Application: "If you receive an offer of credit and apply, there will be a hard inquiry on your credit report which may impact your credit score."
• A prequalification is not an approval. Synchrony Bank makes the credit decision; the practice does not see the reasons for a decline.

For practices

Practices enroll with CareCredit to accept the card; enrollment terms, merchant fees, and permitted marketing language are set out in CareCredit's provider agreement, which is not public and is not summarized here. Practices that describe CareCredit's promotions in their own materials should use CareCredit's wording, including the deferred-interest disclosure.

What this page does not cover

Regulatory history, complaint data, and comparisons with other providers. Those are treated on separate pages with their own methodology, or not at all.

Frequently asked questions

Is CareCredit a loan or a credit card?

A credit card. CareCredit is a revolving credit card issued by Synchrony Bank for health, wellness, and veterinary expenses, accepted at more than 285,000 locations according to CareCredit.

What is CareCredit's interest rate?

CareCredit lists a purchase APR of 32.99% for new accounts as of May 30, 2024, a penalty APR of 39.99%, and a $2 minimum interest charge. Promotional deferred-interest periods of 6 to 24 months charge no interest if the promotional balance is paid in full by the deadline.

Does checking CareCredit prequalification affect my credit score?

CareCredit states that checking whether you prequalify has no impact on your credit score, and that if you receive an offer of credit and apply, there will be a hard inquiry on your credit report which may impact your credit score.

Sources

• CareCredit, "FAQs." Checked September 9, 2026. carecredit.com/faqs
• CareCredit, "Understanding Promotional Financing," May 1, 2026. Checked September 9, 2026. carecredit.com
• CareCredit, veterinary financing page. Checked September 9, 2026. carecredit.com/vetmed

This page is general information, not financial advice. Arclo is not a lender and does not make credit decisions. Arclo is unaffiliated with CareCredit and Synchrony Bank; CareCredit is a trademark of Synchrony Bank. Facts are taken from CareCredit's published pages on the dates shown and may change.