Care Credit

8.5

Overall Score

1 User Review

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Intro to Care Credit

Founded in 1987, CareCredit has been around for almost 20 years, giving them a lot of experience in the healthcare financing industry.  CareCredit is a healthcare credit card that can be used for your life needs. They offer healthcare financing options for consumers through a network of over 175,000 providers.  CareCredit was founded over 25 years ago, in 1987 and is a publicly held company.  CareCredit is part of Synchrony Financial, with over 10,000 employees, providing the stability of a large corporation for their customers.

The Good

  • Range of services
  • Promotional financing options
  • Account management tool

Range of Services

CareCredit also has a lot of other great features for its card holders! Being about to use CareCredit's card for a broad range of services is CareCredit's first major benefit. The CareCredit credit card can be used as a payment option for certain expenses not covered by insurance.  It also helps patients pay for care that may exceed insurance coverage.  The credit card can be used for a wide range of services but is primarily used for:

  • Dentistry
  • Vision Correction
  • Veterinary Medicine
  • Hearing Care
  • Cosmetic Treatments and Surgery

Second, their large network of participating providers.  With a network of over 175,000 providers, patients have plenty of options to choose from when using their CareCredit credit card.  This is very important, as you do not want to feel limited to only a few options for their medical needs.  CareCredit wants you to have the flexibility and network options they desire, so they can choose a provider best suited to their needs.  And you can search for providers online with CareCredit's "Find a Doctor" tool.  You can search by zip code, profession, or doctor name, giving you a ton of results for your needs.

Third, CareCredit makes applying for their card as simple as possible. Most people can feel very overwhelmed when it comes to healthcare financing.  However, CareCredit helps with this stress.  You simply apply online, on their website, and wait for your credit approval.  Once approved, you can begin using your CareCredit card immediately.  CareCredit will then send you monthly statements, keeping you up to date on your transactions and account.

Promotional Financing Options

Another great benefit to using CareCredit for your healthcare financing needs is their promotional financing options, which give you more payment options to choose from.  You can choose to pay no interest if paid in full within 6, 12, 18, or 24 months.  Or, pay 14.9% APR until paid in full (equal fixed monthly payments required).  It is great to have options when choosing a healthcare financing company, and CareCredit provides several options, depending on your situation and needs.

Account Management Tool

Lastly, another great benefit to using CareCredit for healthcare financing is their online account management tool.  You can make payments, review your account, see transactions, and update personal information all online.  They mail you, or email you, monthly statements, but you can also see your account at any time online, which is very important in this industry.  In addition, they have a dedicated customer service number for card holders and one for providers.  Another great resource.

The Bad

  • Credit card
  • High rate

Credit Card

The main drawback to using CareCredit as your healthcare financing option is that they are a just a credit card.  They aren't a finance company, even though they are a branch off of Synchrony Bank.  You can't get a personal loan, your only option is their credit card. They are a credit card healthcare financing option.  Even though you have some options within their credit card, it is your only option.

High Rate

Also, CareCredit charges 14.9% for extended payment plans, while other companies give you a range depending on your credit.  You could get a much lower rate with other companies, but CareCredit has a standard rate just for their card.

The Bottom Line

CareCredit has a lot of experience in the industry and has a lot of features that make patients' lives easier.  From their simple application process to their online portal, it is fairly simple and easy for you to use.  They seem to really focus on the patient and really helping to make health care financing as easy as possible.  Also, the card can be used for broad ranges of services, which is a huge bonus. Overall, CareCredit is a great healthcare financing option!

User Reviews

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  • Verified Customer

    10

    Cheryl Valle

    October 16th, 2017 Las Vegas, NV

    They have great rates and great customer service.They work well with each customer. Also you can utilize the credit card with Dentist and pet medical care.

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