What Is CareCredit?
CareCredit is a credit card and line of credit from Synchrony Bank available for use at veterinary clinics and other health care facilities.
It’s not a line of credit through your vet, but a separate credit company that can offer you a line of credit that you can use for a variety of pet health-related expenses.
It can be used not only for vet bills, but also to pay for health clinic visits and for prescription medication if your facility accepts it. According to the CareCredit website, it is accepted at over 200,000 veterinary clinics. CareCredit also offers to speak to your clinic and explain the service if it is not currently accepted where you get veterinary care.
What Is the Benefit to Using CareCredit?
CareCredit is different from pet financing because it is an open line of credit, allowing you to make payments and use the line again and again for your pet’s care. If your pet is sick or has unexpected care costs, you can finance the care and, in some cases, pay nothing the day of your visit, depending on the credit amount you get approved for.
If you do have pet insurance, you can use CareCredit to your advantage by using the credit to cover services and then getting reimbursed and paying off your credit bill with your reimbursement.
Another benefit of using CareCredit instead of a traditional credit card is that you have interest-free financing for a longer period of time for purchases of $200 or more. You can choose between 6, 12, 18 or 24 months and make minimum payments to pay the full amount owed by the end of the promotional period.
This offers more flexibility than using a credit card, where you will likely be charged interest every month that the balance is not paid in full.
How Does CareCredit Work for Veterinary Care?
Since CareCredit is a line of credit, it is subject to credit approval. You can often apply and take out this line of credit right from your veterinary clinic and use it right then and there.
CareCredit can be used for routine care, such as:
- Annual exams
- Parasites
- Dermatology
- Teeth cleaning
- Medication
- Diagnostics
- Chemotherapy
- Vaccinations
- Microchipping
- Prescription pet food
- Spay and neuter procedures
In addition to routine care, you can use CareCredit to pay for emergency services and surgical procedures, including hip dysplasia surgery.
How Does CareCredit Work With Pet Insurance?
Since pet insurance works off the reimbursement model, some pet parents may struggle to cover the initial costs while they wait for reimbursement from their pet insurance company. Most companies try to pay you back as soon as possible, but sometimes claims can take a while to process.
If you have CareCredit, you can use that to pay your bill, and hopefully get your reimbursement taken care of before your payment is due. Following that, you can use your reimbursement funds to cover your CareCredit bill before accruing too much interest.
If you are interested in CareCredit, you can apply and see what you qualify for. It is good to have a little peace of mind knowing that you can get your pet the care they need without having to worry about having cash-on-hand.
Use the table below of our top-rated pet insurance companies:
Is CareCredit Worth It?
CareCredit can work with pet health insurance to help you afford your pet’s veterinary care without having to pay a large lump sum out of pocket while you wait for reimbursement.
Like all lines of credit, it is subject to credit approval, and it may not be available at your preferred veterinary clinic. You can ask your provider if it is available.
If you struggle with managing credit cards, then you may want to consider another option for financing your pet’s medical bills. However, for many pet parents, CareCredit may give them flexibility and peace of mind that they can pay for an expensive procedure that they may not otherwise be able to afford.
