CareCredit, a Synchrony financing solution, launched CareCredit Pay Later, a single-use installment loan with a fixed annual percentage rate, set monthly payments, and a defined repayment period for eligible patients seeking to finance health and wellness expenses.
Announced October 21, 2026, the financing option is available through participating dental, cosmetic, vision, and audiology providers.
Eligible patients can complete one credit application to review available financing options, including CareCredit Pay Later and the existing CareCredit credit card. The credit card offers revolving credit and promotional financing options and is accepted at more than 290,000 health care locations nationwide.
For participating dental practices and other health care providers, CareCredit updated its payment calculator within the Provider Center portal to incorporate the installment loan option. The calculator provides estimated payment amounts based on each provider's promotional financing offerings. Providers can also modify loan amounts before funding to account for changes in treatment plans.
The company uses Synchrony PRISM, an underwriting platform that evaluates applicants' financial circumstances, including active lines of credit, debt-to-income indicators, and existing loan obligations. CareCredit also offers financing comparison guides and budgeting resources through its Fair Financing Principles initiative.
The announcement included findings from two CareCredit consumer research studies involving a combined 4,105 respondents. According to the findings, 80% of surveyed consumers reported that payment options influenced their choice of health care provider, while 77% considered knowing the total cost of care upfront very or extremely important. Additionally, 41% indicated they would likely postpone care without access to credit, and 46% reported they would delay care if required to pay the full cost upfront.
CareCredit stated that the expanded financing options are intended to accommodate different patient payment preferences and support financial discussions between patients and providers. The company manages billing and collections for participating practices, allowing providers to offer financing without directly administering those processes.
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