Does applying for CareCredit hurt your score?
Will prequalifying impact my credit score? No. You can see if you're likely to be approved with no impact to your credit score. If you receive an offer of credit and accept it, there will be a hard inquiry on your credit report, and it may impact your credit score.
It's easy for your patients or clients to see if they prequalify for the CareCredit credit card. It's a soft credit check with no impact to their credit score*—and that's good news for both them and your practice.
There are a few cons to using CareCredit, including: Higher interest rates after zero-interest promotional offer. After the zero-interest promotional period, the CareCredit interest rate zooms to Prime +18.99. As of early March 2024, the interest rate on CareCredit debt under this repayment plan was as high as 29.99%.
To qualify for the CareCredit credit card, you need a credit score of 640 or more, which is in the fair credit score range for FICO®.
For the best approval odds with CareCredit, you'll need a credit score of 620 or higher. However, some users report approval with scores around 600. If you're score is lower than 600 you'll have a hard time getting approval.
Subject to credit approval. ****You may be required to provide your annual net income if we do not have your recent information on file. Your income will be used as a factor to determine eligibility for a credit line increase.
Once the CareCredit Credit Card reports your account information to a credit bureau, it may take a few days before the updates appear on your credit report. If you're a new cardholder, you may not see any new credit account info on your credit report for one or two billing periods after getting the card.
In some sense, the CareCredit card works just like a regular credit card. The only difference is that you can only use it to cover traditional medical insurance copayments on covered services. The card can also be used for elective medical procedures that are not covered by traditional insurance plans.
If your credit score is 640 or better, you will likely qualify for CareCredit. You can apply for the CareCredit card in person in the veterinary office when you drop off or pick up your dog. However, if you are able to pre-qualify before you get to the office, it will save you a lot of time and anxiety.
With the CareCredit card, you have an up to $25,000 credit limit. That can cover a wide spectrum of medical procedures or treatments.
Can CareCredit be used for groceries?
Your CareCredit credit card is accepted at select Albertsons Companies grocery and pharmacy store locations. With over 2,200 Albertsons Companies locations, you have more ways to stock up on certain eligible health, wellness and personal care items!
A single hard inquiry will usually take fewer than five points off your FICO® Score☉ , with this score impact remaining for up to a year.
| Starting Balance | Minimum Monthly Payment |
|---|---|
| $1,000 | $30 |
| $2,000 | $60 |
| $3,000 | $90 |
| $4,000 | $120 |
Common Reasons Credit Card Applications Get Denied
Poor or no credit: If you have a low credit score or don't qualify for a credit score—because you haven't used credit recently or at all—you might want to focus on rebuilding or establishing your credit.
There are some differences around how the various data elements on a credit report factor into the score calculations. Although credit scoring models vary, generally, credit scores from 660 to 724 are considered good; 725 to 759 are considered very good; and 760 and up are considered excellent.
If you're approved, you can start using your CareCredit credit card immediately. Transactions of $200 or more are eligible for promotional financing options.
A CareCredit card has a maximum credit limit of $25,000. For charges of $200 or more, CareCredit offers "no-interest" promotional periods of six, 12, 18 and 24 months, depending on the provider.
The Synchrony Car Care credit card is accepted at over 1 million auto merchant locations nationwide 1 including parts, repair, gas, services and more.
CareCredit is a credit card that can be used to finance healthcare treatments not typically covered by health insurance. Cardholders can be used for multiple instances, multiple times and even for multiple people. It can be used as a method of payment for the account holder's family members and even pets.
CareCredit is a health and wellness credit card with flexible financing options so you can pay over time for care you want or need.* Accepted at 270,000+ locations!
Does CareCredit make you verify your identity?
For your protection, we may need to verify your identity before responding to your request.
Credit cards can help or hurt your credit score depending on how you use them. Paying your credit card bills on time each month is the best way to build a strong credit score. Paying late or missing a payment can lower your score. It's also important not to owe too much on your cards at any given time.
Over-the-Counter Products
You can also use CareCredit for over-the-counter (OTC) medications and various health and wellness products. Some of these items include: Vitamins and supplements.
It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.
Use your CareCredit credit card to pay outstanding healthcare bills online. Whether it's a recent visit to the dentist, your pet's vaccinations or your sister's LASIK treatment – CareCredit makes it easy for you to pay on time.
