What are Care Credit’s Special Financing and Promotions? What are the monthly payment plans and Interest rates?
How payment is calculated and how to avoid paying any interest charges and penalties? Check the latest updates in this article.
How customers can get an estimate of their promotional financing?
A payment calculator facility is available on the official website and customers can use this facility to get an idea about their monthly payments. Please follow the below steps to calculate the payment.
- Visit the official website.
- The payment calculator is available on the homepage or you may navigate to the Resources -> Payment Calculator from the top menu.
- Enter the amount you want to pay to your healthcare provider and press the Calculate button.
- You will get the available financing options based on your amount.
- If you enter a $1000 or more amount then you will see more than 24 months of reduced financing options.
- Synchrony Bank Care Credit Card
- Care Credit Providers
- Care Credit Card Apply, Pre-Approval
- Care Credit Mobile app
- Care Credit Card Login
- Care Credit Card Bill Payment
Payment Calculator example
We are taking an example of financing a $12,000 amount to pay the medical bill. For a $12000 amount, customers will get both no-interest (up to 24 months) and reduced interest (up to 60 months) based financing options.
1-No Interest promotional financing:
Zero interest-based financing is available only for 6, 12, 18, and 24 months. Suggested monthly payments will be similar to as shown below if the required monthly payment is paid in full every month.
|Promo Period||Monthly Payments||Est. Payoff Period||Amount Financed|
|6 Month||$2,000 Suggested||6 Months||$12,000|
|12 Month||$1,000 Suggested||12 Months||$12,000|
|18 Month||$667 Suggested||18 Months||$12,000|
|24 Month||$500 Suggested||24 Months||$12,000|
Note: The Monthly Payment shown may be greater than the required minimum monthly payment that will be on your billing statement when you use the promotional financing offer.
This estimated payment:
- Equals the greater of (a) the Amount Financed divided by the number of months in the Promotional Period, in which case it is only a suggested payment, or (b) $30, the currently required minimum monthly payment.
- Would pay off the Amount Financed within the Payoff Period, but only if there are no other balances on your account at any time during the Promotional Period and you make your payments on time. Your total payments will equal the amount Amount Financed.
Note: If the Amount Financed is not paid in full within the Promotional Period, interest will be charged to your account from the purchase date and your total payments will be greater than the amount of the Amount Financed.
2-Reduced APR and Fixed Monthly Payments.
Reduced APR-based monthly payment is also available. Monthly payments are fixed and must be paid every month. Low-interest APRs are available on purchases of $1000 or more.
For a $12000 example, you will have to pay as per the below-mentioned monthly bill.
|Promo Period||Monthly Payment:||Est. Payoff Period||APR||Total Payments with Interest|
|24 Month||$582||24 Months||14.90%||$13,951|
|36 Month||$422||36 Months||15.90%||$15,167|
|48 Month||$346||48 Months||16.90%||$16,591|
|60 Month||$305||60 Months||17.90%||$18,245|
24, 36, and 48 Months of financing are available on a purchase of $1000 or more and 60 Months of financing is available on a purchase of $2500 or more.
The estimated monthly payment shown equals the purchase price multiplied by 4.8439% for the 24-month promo, 3.5108% for the 36-month promo, 2.8803% for the 48-month promo, and 2.5339% for the 60-month promo. It is rounded to the next highest whole dollar.
The above offer is applicable only if you pay your monthly payment every month before the due date. Other balances will also be added to your monthly payment if there are any.