In the United States, the health care sector is one of the fastest growing and costliest industries. The demand placed on workers in the industry continues to grow, as do costs to consumers. With a substantial number of individuals in the country unable to afford health insurance and thus unable to obtain crucial care and procedures to improve and sustain their health, CareCredit is becoming a popular option. CareCredit allows a patient to make a series of payments to a medical provider over time. It is not intended to be an overall medical credit card.

As a rule, pharmacies will not accept the card to pay for prescriptions or other minor medical supplies. In some instances, a veterinarian who also sells prescriptions may accept CareCredit, but this is not customary. Pet owners should check with their veterinarians to see if they can use CareCredit cards to purchase such prescriptions.

What CareCredit Is and Where It Can Be Used

CareCredit is a special form of credit card that was designed to be used for beauty, wellness and health care needs. This card allows an individual to make monthly payments to cover the full costs of many treatments and procedures that health care professionals perform. CareCredit provides special financing offers that typically cannot be obtained through traditional credit cards when paying for health-related treatments and procedures.

CareCredit offers shorter-term financing options, between six and 24 months, and it does not charge interest on purchases over $200 when minimum monthly payments are made. It offers longer-term health care financing for periods in excess of 24 months and up to 60 months with an attached 14.9% annual percentage rate (APR) until the balance is paid in full.

Across the U.S., CareCredit is accepted at more than 170,000 providers. Uses include LASIK and other vision care procedures, cosmetic and dermatological procedures, dental care and veterinary care. In many cases, providers have applications for CareCredit, but applications are also available online.