CareCredit for Pets is a credit card specifically for healthcare, aimed at helping families and individuals cover those out-of-pocket medical costs that their main insurance might not fully take care of. This unique card can be used for things like cosmetic treatments, dental work, wellness programs, and even vet bills for your furry friends.
Pet owners frequently see their pets as part of the family, just like any other family member. However, just like health and dental care for humans, veterinary care can be pretty pricey. Even routine annual checkups can start to add up, and if a pet is unwell, the costs can really skyrocket.
When you’re looking for budget-friendly pet healthcare, you’ve got a few choices: you can get pet insurance, cover the costs yourself, set up a credit card just for healthcare expenses like CareCredit, or mix and match these options.
How Does CareCredit for Pets Work?
CareCredit for Pets or CareCredit, Using a CareCredit card at the vet has a major advantage over a regular credit card: if you pay off the balance in time, you might not have to deal with any interest charges at all.
If a cardholder needs a payoff period that goes beyond 18 months, CareCredit will apply a 17.90% annual percentage rate (APR) to the monthly payments after the 18th month until the balance is completely settled. To be eligible for a payoff term longer than 18 months but up to 24 months, the purchase must exceed $1,000. For a 60-month payoff option, the purchase amount has to be over $2,500, and the APR for that is 20.90%. This information was accurate as of October 2021.
To help pet owners decide about getting the CareCredit card, the company has a handy calculator on its website. This tool shows what the monthly payments would look like based on the total cost of the care they’re planning to buy.
Conclusion
A CareCredit card can help you cover your pet’s healthcare costs without needing to pay cash right away. When paired with pet insurance, it can really help you manage those vet bills while keeping your finances in check. If you’re good at handling your credit and debt, a CareCredit card could be a handy tool.
However, if you find it tough to keep up with credit card and loan payments, you might want to consider other options for covering vet expenses. CareCredit functions like a credit card, but its terms are a bit different from regular ones, and missing a payment can lead to accumulating interest and fees. Plus, not paying off your credit cards can hurt your credit score and history.