Care Credit Terms and Agreement

Care Credit Terms and Agreement: Everything You Need to Know

Are you considering applying for Care Credit to cover medical expenses or veterinary bills? Care Credit is a popular financing option that allows you to pay for healthcare services upfront and then make monthly payments with interest. However, before signing up, it`s essential to understand the terms and agreement of Care Credit to avoid any surprises down the road. In this article, we`ll break down everything you need to know about Care Credit terms and agreements.

What is Care Credit?

Care Credit is a credit card designed specifically for healthcare expenses. It`s accepted at over 225,000 healthcare providers across the United States and helps you pay for medical expenses that may not be covered by insurance, such as elective procedures or treatments. Care Credit offers flexible payment options with no annual fees and competitive interest rates, making it an attractive option for many.

What are the terms and agreement of Care Credit?

When you apply for Care Credit, you`ll need to agree to the terms and agreement laid out by the company. Here are some of the essential terms and agreement you should be aware of:

1. Interest rates and fees:

Care Credit offers a range of interest rates, typically ranging from 14.90% to 26.99%. The interest rate you receive will depend on your credit score and income, among other factors. You`ll also be charged a late fee of up to $40 if you miss a payment. Be sure to read the terms and conditions carefully to understand the fees and interest rates associated with your Care Credit account.

2. Minimum monthly payments:

Each month, you`ll need to make a minimum payment towards your Care Credit account balance. The minimum monthly payment is usually 3% of your balance or $10, whichever is higher. If you only make the minimum payment, it will take you longer to pay off your debt and cost you more in interest.

3. Promotional financing:

One of the attractive features of Care Credit is its promotional financing options. These promotions allow you to pay off your balance within a certain period without any interest. However, if you don`t pay off the balance within the promotional period, you`ll be charged interest on the entire balance, retroactive to the date of purchase.

4. Credit reporting:

Care Credit reports your account activity to credit bureaus, which means it can affect your credit score. If you miss payments or carry a high balance, it can lower your credit score. On the other hand, if you make your payments on time and keep your balance low, it can positively impact your credit score.

5. Restrictions:

Care Credit can only be used to pay for healthcare-related expenses, including dental, vision, veterinary care, and more. You can`t use Care Credit to pay for non-healthcare expenses, such as household bills or groceries.


Care Credit can be a convenient way to finance medical expenses, but it`s essential to understand the terms and agreement before signing up. Be sure to read the fine print and ask questions if anything is unclear. By understanding the fees, interest rates, and payment schedule, you can make the most of your Care Credit account and avoid any unexpected surprises.