CareCredit Review

CareCredit is a credit card issued by Synchrony Bank. If you're wondering whether CareCredit is the right card for you, read on. This is everything you need to know to make a good choice.

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 26.99%
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• Accepts cosigners. Synchrony Bank is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.

The Good	The Bad
No annual fee. Considers applicants with fair or poor credit. CareCredit reports to multiple credit bureaus.	Higher than average purchase APRs. Does not offer a signup bonus. Does not offer rewards or cash back. You don't earn rewards on every purchase. Does not include many credit card benefits.

Is there a CareCredit cash back or rewards program?

No, CareCredit does not offer a rewards program.

What are the relevant APRs for CareCredit?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. CareCredit has higher than average purchase APRs.

CareCredit has a variable purchase APR of 26.99%.

What are the fees for CareCredit?

The following fees apply to CareCredit:

CareCredit Fees

Fees	Amount
Annual Fee	$0
Late Payment Fee	up to $40

Does CareCredit report your account activity to credit bureaus?

Yes, CareCredit reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion
• Innovis

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for CareCredit

• Visit the CareCredit website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.