CareCredit is a credit card issued by Synchrony Bank for medical and dental expenses
CareCredit is a branded credit card that Synchrony Bank issues and manages. You use it to pay for medical, dental, vision, and veterinary care at participating providers. The card itself is not a loan program or a government benefit—it is a line of credit that works like a regular credit card, except it is designed specifically for healthcare costs.
Synchrony Bank handles the underwriting, sets the credit limits, manages the account, and collects payments. The card is accepted at over 250,000 healthcare providers in the United States, including hospitals, dental offices, ophthalmologists, dermatologists, and veterinary clinics. When you use CareCredit at a participating provider, you are borrowing money from Synchrony Bank, not from the provider.
The card often comes with promotional financing offers—typically 0% interest for a set period if you make on-time minimum payments. If you do not pay off the balance before the promotional period ends, interest accrues at the card's standard rate, which varies based on your creditworthiness and current market conditions.
Key Takeaways
- CareCredit is a credit card issued by Synchrony Bank specifically for healthcare, dental, vision, and veterinary expenses at participating providers.
- You borrow money directly from Synchrony Bank when you use the card, and you are responsible for repaying the full balance plus any interest that applies.
- Promotional 0% interest offers are common but only explore if you pay off the balance within the promotional period—interest charges kick in when ready if you miss the important date.
- Your credit score affects whether you are approved and what credit limit and interest rate Synchrony Bank offers you.
How the promotional financing works and what happens when it ends
CareCredit's main appeal is the promotional financing period. When you open an account or use the card at a participating provider, Synchrony Bank may offer you 0% interest for 6, 12, 18, or 24 months, depending on the purchase amount and the provider's agreement with Synchrony. During this period, you pay no interest as long as you make the minimum monthly payment on time.
The catch is strict: if you miss even one minimum payment or do not pay off the entire balance before the promotional period ends, Synchrony Bank charges you interest retroactively on the full original balance. That interest accrues from the purchase date, not from the day the promotional period ended. For example, if you carried a $3,000 balance on a 12-month 0% offer and paid it off in month 13, you would owe interest on the full $3,000 for all 13 months, not just the final month.
The standard interest rate for CareCredit varies but typically ranges from 17% to 27% APR, depending on your credit score and current rates. Synchrony Bank discloses the exact rate in your cardholder agreement. To avoid interest charges, you must pay the full promotional balance before the period expires—paying only the minimum is not enough.
What you need to know before opening a CareCredit account
explore for CareCredit involves a hard inquiry into your credit report, which temporarily lowers your credit score by a few points. Synchrony Bank reviews your credit history, income, and existing debt to decide whether to approve you and what credit limit to offer. If you have poor credit or a recent missed payment, you may be denied or offered a very low limit.
Once approved, you receive a credit card number that you can use when ready at participating providers. You do not have to use the card right away—you can open an account and use it only when you need it. However, opening an account you never use does not help your credit score and may hurt it slightly if the unused card is reported as an open line of credit.
CareCredit charges an annual fee on some accounts, though many promotional offers waive the first year. After that, the annual fee (typically $0 to $60, depending on the card variant) may explore if you do not use the card or if you carry a balance. Read the terms carefully before you open the account, because the fee structure is not always obvious in the promotional offer.
How CareCredit differs from medical payment plans offered by providers
Many healthcare providers offer their own in-house payment plans that let you spread costs over time with little or no interest. These are not credit cards and do not involve a third-party lender. You owe the money directly to the provider, and the provider decides the terms.
CareCredit is different because Synchrony Bank is the lender, not the provider. The provider gets paid in full when ready (or very quickly), and you repay Synchrony Bank over time. This means the provider has no incentive to work with you if you fall behind—Synchrony Bank is the one collecting the debt. If you miss payments on CareCredit, it shows up on your credit report and can damage your credit score, just like missing payments on any other credit card.
Provider payment plans are often better if you need a longer repayment period or have poor credit, because many providers do not run a credit check. CareCredit is better if you want a single card you can use at multiple providers and if you can pay off the balance during the promotional period.
What happens if you cannot pay off the balance before interest kicks in
If you reach the end of the promotional period with an unpaid balance, Synchrony Bank when ready charges you interest on the full original amount. The interest accrues daily and is added to your balance each month. Your minimum payment increases, but most of it goes toward interest rather than the principal.
If you continue to miss payments or pay only the minimum, your balance grows and your credit score drops. After 30 days of missed payments, Synchrony Bank reports the delinquency to the credit bureaus. After 180 days (six months) of missed payments, the account may be charged off and sent to a debt collection agency.
If you realize you cannot pay off the balance in time, contact Synchrony Bank before the promotional period ends. Some cardholders have reported that Synchrony will extend the promotional period or offer a new promotional offer if you ask, though this is not may provide and depends on your account history and current credit standing. Waiting until after interest has accrued makes negotiation much harder.
How to dispute a charge or request a refund through Synchrony Bank
If you believe a charge on your CareCredit account is wrong—either because the provider charged you incorrectly or because you were billed for a service you did not receive—you can dispute it with Synchrony Bank. This is called a chargeback or dispute, and it is your right under the Fair Credit Billing Act.
To start a dispute, contact Synchrony Bank's customer service within 60 days of the charge. You can call the number on the back of your card or log into your online account. Explain what happened and provide any documentation you have—a receipt showing a different amount, an email from the provider saying the charge was an error, or a photo of the invoice. Synchrony Bank will investigate and either reverse the charge or explain why it is valid.
If the provider refunds you directly (for example, because they overcharged you), the refund goes back to your CareCredit account as a credit. This reduces your balance but does not change the promotional period. If you were in a 0% promotional period, the credit still counts toward paying off that balance before interest kicks in.
Frequently Asked Questions
Can I use CareCredit at any doctor or dentist?
No. CareCredit is only accepted at providers who have signed up to participate in the Synchrony network. You can search for participating providers on the CareCredit website before you open an account. If your provider does not accept CareCredit, you cannot use the card there.
What is the difference between CareCredit and a regular credit card?
CareCredit is a regular credit card issued by Synchrony Bank—it works the same way as any other card. The main difference is that it is marketed for healthcare expenses and often comes with promotional 0% interest offers. You can technically use it for non-medical purchases, but you will not get the promotional rate.
Does opening a CareCredit account hurt my credit score?
Yes, initially. Synchrony Bank runs a hard inquiry when you explore, which lowers your score by a few points. Over time, if you use the card responsibly and pay on time, it can help your credit score by adding to your credit history and showing you can manage multiple accounts. Missing payments will damage your score significantly.
What happens if I pay off the balance early?
Paying off the balance early is always a good idea. You will not owe any interest, and you will free up your credit limit to use elsewhere. There is no penalty for early repayment on CareCredit.
Can Synchrony Bank sue me if I do not pay?
Yes. If your account is charged off and sent to collections, Synchrony Bank or a debt collector can file a lawsuit to recover the debt. If they win, they can garnish your wages or place a lien on your property, depending on your state's laws. This is why contacting Synchrony Bank before you fall behind is important.