CarePayment is a provider-sponsored 0.00% APR line of credit with no application and no credit reporting, but it only works at participating providers. CareCredit is a Synchrony Bank credit card accepted widely, with no-interest promotions of 6–24 months if paid in full and longer reduced-APR plans of 17.90%–20.90%.
- CarePayment: 0.00% APR, no credit check, participating providers only
- CareCredit: credit card with deferred-interest promos and 17.90%–20.90% fixed plans
- On a $3,000 balance over 36 months, CareCredit's plan costs about $953 in interest
Neither option available at your provider?
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Side-by-side
| Feature | CarePayment | CareCredit |
|---|---|---|
| Type | Open-end line of credit | Credit card (Synchrony Bank) |
| Interest | 0.00% APR, not promotional | No interest on $200+ if paid in full in 6–24 months; 17.90%–20.90% APR on 24–60 month plans |
| Application | None; identity verification | Credit application (prequalify without score impact) |
| Credit reporting | No delinquency reporting | Reported like a credit card |
| Where it works | Participating providers only | Any enrolled provider in its network |
| Who pays fees | Your provider | Merchant fees plus any interest you incur |
| Biggest risk | Balance returns to provider if you stop paying | Interest charged if the promo balance isn't paid in full |
One $3,000 bill, three ways
| Approach | Monthly | Interest | Risk |
|---|---|---|---|
| CarePayment, 36 months | $83.33 | $0.00 | Balance returns to provider if you stop paying |
| CareCredit 36-month fixed plan (18.90%) | $109.82 | $953.39 | Reported like any credit card |
| CareCredit 12-month deferred promo, paid in full | $250.00 | $0.00 | Miss the deadline and interest applies from the purchase date |
What the difference costs
CarePayment 0% vs. CareCredit reduced-APR plan
CareCredit APRs and minimums from CareCredit's published FAQ for fixed-payment plans. CarePayment shown at 0.00% APR over the same term; your provider sets actual CarePayment terms.
Which one fits
Pick CarePayment when
- Your provider offers it
- You want no credit check and no reporting
- You need a long payoff without interest
Pick CareCredit when
- Your provider doesn't offer CarePayment
- You can clear the balance inside a promo period
- You want one card for dental, vision or vet bills
Interest cost on CareCredit's fixed-payment plans
On these reduced-APR plans CareCredit charges interest from day one. Here's the total interest at CareCredit's published rates (CareCredit FAQ). On CarePayment, the interest in every cell would be $0.
| Balance | 24 mo @ 17.90% | 36 mo @ 18.90% | 48 mo @ 19.90% | 60 mo @ 20.90% |
|---|---|---|---|---|
| $1,500.00 | $295.53 ($74.81/mo) | $476.70 ($54.91/mo) | $687.15 ($45.57/mo) | — |
| $3,000.00 | $591.06 ($149.63/mo) | $953.39 ($109.82/mo) | $1,374.30 ($91.13/mo) | $1,859.48 ($80.99/mo) |
| $6,000.00 | $1,182.11 ($299.25/mo) | $1,906.78 ($219.63/mo) | $2,748.61 ($182.26/mo) | $3,718.97 ($161.98/mo) |
Standard amortization; "—" means the balance is below that plan's minimum purchase. Figures are estimates.
The deferred-interest catch on short promos
CareCredit's 6–24 month offers are deferred interest, not 0% APR. Its disclosure reads: "No interest will be charged on the promo balance if you pay it off, in full, within the promo period. If you do not, interest will be charged on the promo balance from the purchase date." A 2024 disclosure lists a 32.99% purchase APR for new accounts (CareCredit disclosure).
Example
A $2,000.00 procedure on a 12-month promo, paying $150.00 a month, leaves $200.00 unpaid at month 12. Because the promo wasn't paid in full, roughly $387.63 of interest that built up over the year can be added at once. On CarePayment the same schedule costs $0 in interest.
Requirements side by side
- CarePayment: identity verification only; offered by your participating provider.
- CareCredit: a credit application with Synchrony Bank; you can prequalify without affecting your score, but approval and your limit depend on credit.
Using both
Many patients use both: CarePayment for a hospital balance that qualifies, and CareCredit or another option for dental, vision or veterinary costs at providers that don't offer CarePayment. Keep each one current, since the consequences of missing payments are very different.
Fees and penalty rates
CarePayment says that with on-time payments there's no cost beyond your medical bill (CarePayment). CareCredit's 2024 disclosure lists a 32.99% purchase APR, a $2 minimum interest charge and a 39.99% penalty APR for new accounts (CareCredit disclosure). Check the current terms on any card you apply for.
Pros and cons
CarePayment
- + 0.00% APR for the life of initial charges
- + No application or credit check
- + Nothing reported to bureaus
- − Only at participating providers
- − Doesn't build credit
- − Some patients report billing and service frustrations
CareCredit
- + Accepted at many enrolled providers
- + Can be reused like a card
- + On-time payments can build credit
- − Requires a credit application
- − Deferred interest on short promos
- − 17.90%–20.90% APR on longer fixed plans
How you sign up for each
CarePayment comes to you: your provider places the balance or you ask the billing office, CarePayment verifies your identity, and a Welcome Kit arrives. Your first payment activates it. CareCredit is something you apply for: you prequalify or apply online or at the provider, Synchrony Bank checks your credit, and if approved you get a credit limit you can use at enrolled providers.
How deferred interest builds month by month
Using the same $2,000.00 example at $150.00 a month and a 32.99% APR, interest is tracked in the background the whole time. If the promo balance isn't zero by month 12, it's added to your account:
| Month | Promo balance left | Interest building in the background |
|---|---|---|
| 3 | $1,550.00 | $152.58 |
| 6 | $1,100.00 | $268.04 |
| 9 | $650.00 | $346.40 |
| 12 | $200.00 | $387.63 |
Approximate, using simple monthly accrual. Actual card calculations use daily balances.
Questions to ask your provider before choosing
- Do you offer CarePayment, and for which services?
- What monthly minimum and term would my balance get?
- Do you have an in-house 0% plan for shorter terms?
- Do you accept CareCredit, and which promo lengths?
- Is there a discount for paying in full now?
Frequently asked questions
Is CarePayment better than CareCredit?
For a balance at a participating provider, CarePayment is usually cheaper because it stays at 0.00% APR with no credit check. CareCredit is more flexible about where you can use it.
Is CarePayment a credit card like CareCredit?
No. CarePayment is an open-end line of credit, not a credit card.
Can I use both?
Yes, for different bills. CarePayment covers balances at its participating providers; CareCredit works wherever it's accepted.
What is CareCredit's regular APR?
A 2024 CareCredit disclosure lists a 32.99% purchase APR for new accounts. Check current terms with CareCredit.
What happens if I don't pay off a CareCredit promo in time?
Interest is charged on the promo balance from the original purchase date, not just on what's left.
Does CareCredit have a penalty APR?
CareCredit's 2024 disclosure lists a 39.99% penalty APR for new accounts. CarePayment does not use a penalty APR on initial charges.
Can I move a CareCredit balance to CarePayment?
CarePayment covers balances your participating provider places with it; it isn't a balance-transfer product. Ask your provider what it can place.