CareCredit is a credit card that is accepted by over 200,000 healthcare providers in the United States for various medical procedures and services, such as vision care, cosmetic and dermatology services, dental services and hearing care. Various hospitals, veterinary clinics, dental centers and private medical practice firms accept CareCredit. The CareCredit company provides a database of providers that accept CareCredit.

CareCredit Special Financing

CareCredit is specifically designed to pay for health care services and products to satisfy cardholders' health and wellness needs. Unlike other credit cards, such as Visa or MasterCard, CareCredit offers special financing terms for beauty and wellness care. CareCredit has six, 12, 18, or 24-month financing with no interest charged on purchases in excess of $200, as long as the cardholder makes his minimum monthly payments and pays off the entire amount owed by the due date of the promotional period. Otherwise, CareCredit charges interest from the purchase date.

Long-Term Financing

Additionally, CareCredit offers longer-term financing for health care purchases for 24, 36, 48, or 60-month periods. For such transactions, CareCredit offers a 14.9% annual percentage rate (APR) until the cardholder pays off the amount. Healthcare purchases in excess of $1,000 qualify for 24, 36 and 48-month financing terms, while healthcare transactions in excess of $2,500 qualify for 60-month financing with a 16.9% APR.

CareCredit is offered by Synchrony Bank. The card does not represent a replacement for medical insurance policies and only helps individuals pay for their out-of-pocket costs that are not covered by medical insurance. (For related reading, see "How Does CareCredit Work?")