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Rating by Finanso®

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Care Credit


About lender

Synchrony Financial (SYF) has a division called Care Credit, which issues a card that is accepted by over 250,000 healthcare providers in the United States. Care credit is one of the leading private credit providers in the United States, and it has signed agreements with a wide range of healthcare outlets to accept its card as payment for its services.

Care Credit is a healthcare credit card. The card offers a way to pay your health expenses that are not covered under insurance with convenient monthly installments. Care Credit is approved at over 250,000 service outlets nationwide. The health care services include Lasik and vision care, cosmetic and dermatology procedures, dentistry, veterinary, hearing care, and other specializations. Care Credit is also accepted at several retail locations. One can access Care Credit for healthcare expenses for themselves, for patients who are family, children, and their pets without having to reapply.

Pros and cons

The Care Credit healthcare credit card allows customers to pay for healthcare expenses over time. Depending on their eligibility and circumstances, it offers introductory financing as low as 0% APR. Here are some advantages and disadvantages of associating with this service.


  • The Care Credit card has no annual charge and has fixed repayment terms.

  • If any veterinarian or surgical facility takes Care Credit, it can help one with payments for their pet's healthcare bills in addition to medical, dental, and vision changes.

  • Introductory APR deals can save one a lot of money on interest.


  • If one does not pay off debt during the initial time, interest rates can be substantial.

  • Individuals risk losing their promotional financing offers if they miss the minimum monthly payments required.

  • Not all healthcare vendors accept the Care Credit healthcare card or offer low-interest promotional financing.

Care Credit conditions

A Care Credit healthcare card has a credit limit of $25,000. You can use Care Credit as a convenient way at an enrolled health and wellness provider. Among the enrolled outlets are specialists in medicine, dentistry, optometry, dermatology, and cosmetic surgery; hospitals, surgery facilities, medical imaging, and laboratory work; medical supplies, equipment, and pharmacies; SPA treatments and fitness equipment; veterinary care, including routine and emergency.

The card has a no-interest promotional term and is a deferred interest card. If you don't pay the balance in full by the end of the promotional period, you'll be charged interest on the total amount borrowed, and not just the outstanding balance.

On transactions of $200 or more, Care Credit offers the following short-term promotional financing options for healthcare costs: no interest for 6, 12, 18, or 24 months. You'll be charged a 26.99% annual percentage rate if you don't pay the money back on time.

Promotional financing options

No interest promotional financing. If you have not paid interest in full for a minimum purchase amount of $200 over 6/12/18 or 24 months, interest will be applied to your card from the purchase date. For instance, if the cardholder makes a monthly payment equal to the total promotional purchase amount divided by 6 paying off the full balance within the promotional period, they will pay $1,200 for the promotional purchase over 6 months, and the card balance will be $0 with no interest charged at the end of the introductory period.

Lower APR and fixed monthly payments until the full amount is paid. On permitted transactions made using your Care Credit account at the registered provider's locations: A 24-month offer with a 14.90% APR, a 36-month offer with a 15.90% APR, or a 48-month offer with a 16.90% APR may be offered on $1,000 or more transactions. A 60-month agreement with a 17.90% APR may be available for transactions over $2,500.



What is Care Credit?

On transactions of $200 or more, Care Credit offers special promo financing for healthcare needs not generally covered by insurance, such as hearing aids.

Who owns Care Credit?

Synchrony Financial (SYF) is a consumer financial services firm headquartered in Stamford, Connecticut, United States. CareCredit is a division of Synchrony Financial (SYF). Brian D. Doubles is the CEO of SYF. 

How do you qualify for Care Credit?

To be entitled for Care Credit, you must have a credit score of 640 or above. You can use prequalification to see if you'll be approved for a Care Credit. If you prequalify and then apply, there will be a hard inquiry on your credit record.

Is Care Credit a legitimate company?

Yes, Care Credit is a legitimate company. It is a Synchrony Financial subsidiary (SYF). SYF is a consumer-focused financial services company and card issuer based in Connecticut, United States. They provide financing options for clients through Synchrony Bank, their online bank subsidiary, as a regulated credit company.

Company documents

Privacy Policy
Terms of use
Credit Card Agreements

We do something very simple at CareCredit: we help people get the care they want for themselves and their families.

© CareCredit

Calculate loan payments in Care Credit

Care Credit calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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200 $
25000 $
Loan term

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What to focus on before applying for a loan with Care Credit

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Care Credit and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Care Credit’s reviews by October 2022
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