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CareCredit and Other Medical Payment Solutions

Posted by Jessica Beaudry | Tue, Apr 18, 2017 @ 10:00 AM

CareCreditFor healthcare providers, patient well-being is the number one priority, but the ability to provide affordable services and receive fair compensation is crucial to their continued success. With medical costs remaining as a primary consumer concern, the CrossCheck editorial staff takes a closer look at the services and requirements of one popular option, CareCredit.

For many patients, the ability to fund out-of-pocket healthcare payments remains a significant challenge. In a 2016 Federal Reserve survey, 46% of respondents stated that they lacked the capacity to cover an emergency expense of $400 without borrowing money or selling personal items. Among those surveyed, 22% experienced a significant and unexpected out-of-pocket medical expense in 2015, with 46% currently owing debt on the unforeseen costs.

In 2015, surprise out-of-pocket medical expenses set individuals back an average $2,782 according to the Federal Reserve survey. In response to consumer hardships, services such as medical credit cards provide a possible payment solution — though terms and conditions will apply. 

Medical Payments with CareCredit

This healthcare credit card is designed to help patients pay for health, wellness, beauty and animal companion health services.

Individuals that require alternative payment methods for medical and wellness expenses not covered by health insurance may apply. The medical credit card provides alternative options that are not guaranteed by Visa or MasterCard. Cardholders can pay for deductibles, co-pays, treatments and procedures typically not covered by insurance providers along with the out-of-pocket costs that remain after insurance.

More than 200,000 enrolled providers and retailers accept CareCredit from approved cardholders. Healthcare services and procedures covered by the service include: 

  • Chiropractic
  • Hearing
  • Veterinary
  • Cosmetic
  • LASIK and Vision
  • Weight Loss
  • Dentistry
  • Primary/Urgent Care
  • Healthcare Specialists

The Terms

With a CareCredit card, patients qualify for specialized promotional financing offers consisting of short-term, no-interest payments available on purchases of $200 or more. Cardholders must meet the minimum monthly payments and pay in full within the promotional period of 6, 12, 18 or 24 months to negate interest charges. With low interest rates starting at around 14.9 percent, extended payment periods of 24, 36, 48 and 60 months are available for minimum purchase amounts of $1,000.

Patients should take note that promotional financing options may not be available at all enrolled providers and retail storefronts that accept the service, in which case, standard terms apply. Refer to the account agreement for a complete list of details.


Cardholders will receive their first billing statement within 30 days of making a CareCredit purchase. Consumers may submit all payments before the end of term date without receiving penalties. The company encourages interested parties to consult the online payment calculator to determine individual payment plans.

The Fine Print

Patients meeting minimum monthly payments may not cover the full balance due at the end of the promotional period. Depending on the amount of debt left after a promotional period, an individual’s credit ratings may be affected.

All accounts that possess a remaining balance at the end of a promotional period will receive interest charges starting from the date of purchase. Payment methods include online, over the phone, overnight mail delivery and ACH payment using checks, checking accounts or debit accounts. Paying by phone will accumulate a fee.


Applicants must provide their name, doctor’s name, address, date of birth, net income and Social Security
Number or ITIN. All individuals are subject to a credit report and must meet the credit check. Candidates must be at least 18 to apply.


Healthcare bills from providers can quickly, and often unexpectedly, leave individuals and families struggling to fund medical expenses. For patients who possess an acceptable credit score and satisfy all cardholder terms, CareCredit remains a viable option.

For those who do not meet those requirements, CrossCheck’s Multiple Check service provides a short-term payment solution without a credit check.

Our services allow healthcare providers to work with patients to implement a personalized payment plan that satisfies both providers and patients. Patients will write 2 – 4 checks over a 30-day period, providing individuals the time they need to fund their medical expenses fully. CrossCheck provides medical providers with guaranteed funding with each deposited check. To learn more, download our free guide.

Multiple Check Insider's Guide

Topics: Medical

Written by Jessica Beaudry

Inbound Marketer at CrossCheck.