Patient Financing Monthly Payment Calculator

CareCredit is a healthcare-only credit card issued by Synchrony Bank. It offers two payment structures: promotional (deferred interest) periods of 6-24 months with no interest IF the balance is paid in full by the promo end date, otherwise back interest applies; and longer-term plans (24-60 months) with fixed reduced APR. Standard APR if you carry balance past promo runs 17.9-26.99%.

CareCredit: 17.9-26.99% standard APR (after promotional period expires). Alphaeon Credit: 14.9-24.9% APR depending on credit. Proceed Finance: 11.99-22.99% APR with longer terms (60-120 months) for larger procedures. Promotional rates for shorter terms can be 0%.

If you can pay cash and the procedure is medically/financially important, paying cash typically saves money on interest. If you can pay off CareCredit within the no-interest promotional period (6-24 months), it can be cheaper than cash because you keep your cash earning interest in savings. If you cannot pay within the promo period, the standard APR is typically higher than 0% savings would yield.

Promotional plans are deferred-interest: if you pay the full balance by the promo end date, no interest accrues. If you do not, ALL the interest from purchase date is back-charged. Standard plans are reduced fixed APR (12-18 month plans at lower APR) with no deferred-interest trap.

A $4,500 dental implant on CareCredit with 24-month deferred interest at 0% is $187.50/month if paid in full by month 24. If not paid in full, back interest at 26.99% APR is applied to the original $4,500 balance from purchase date. This calculator shows both scenarios.

You can use HSA or FSA funds to pay for the underlying medical procedure, which can then be paid in cash rather than financed. Once a procedure is financed on CareCredit, paying the credit card balance is not typically an HSA-eligible expense.