CareCredit Deferred Interest Program

[0REDSOX7]

Hello all,

Just wanted to post to you guys a reminder how CareCredit's deferred interest program works - simply because I forgot, had a lapse in judgement, and almost had to pay the accrued interest - so, I figured I would just post and maybe save one of you from the (almost) same mistake I made.

For those of you who have a CareCredit card by GE/Synchrony, any purchase of $200 qualifies for the deferred interest date.  For me, I had major ankle reconstructive surgery, and, not wanting to tie up the credit on my other non "branded" cards, I used my CareCredit since I have a nice CL with them and the surgical center accepted it.

With that said - the "promotional period" applies to the transaction date - NOT the statement date.  So, for example, if I used the card on the 15th of the month, the balance MUST be paid off by the 15th of the final month of the promotion (I.E., 6/12/18 months), and NOT by the statement's payment due date.  I came within two days of the transaction date - and was able to make a payment to avoid the accrued interest, but, yeah, just wanted to share that with all of you.

If I can help just one of you save some money, then my mission was a success!

[Dalmus]

 I wonder how many people fall into that loophole?

 Thanks for sharing!

 What called your attention to that little gem?

[Anonymous]

Well I learned something. I thought care credit was only for vetinary purposes. When I finally get my foot in the door with Synch, that's what I'll be trying for!

[0REDSOX7]

Dalmus - I happened to log on to their website and saw a "Promotional Transactions" tab and noticed that promotion end date did not match the statement due date - so I looked at the T&Cs and low and behold, there it was.  I'd imagine a lot of people fall in to it and then don't realize it until it is too late.

Noxqs - it can be used for many things - Doctor's Offices, Vets, Dental Visits.  I use it mostly for my vet because again, I'd rather not use my other available credit, plus, it is a consistent usage and keeps it active.  Gotten two CLIs with them in the 18 months I have had it. It is actually the easiest of all SYNCH cards to get, so I am told, so, good luck to when you get it!

[UncleB]

I agree that you have to be really careful with Care Credit... it can be a fantastic way to get 0% financing but if you slip up, the consequences are rather harsh. 

As long as you know where to look it's actually quite easy to keep track of - remembering to do so is the key! 

[0REDSOX7]

Thanks for posting the screen shot - I hadn't quite figured out how to do that to show it.

But yes, very nice for a short interest free loan as long as you know how it works!  I know now and def. won't make the same mistake again!

[UncleB]

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@Anonymous wrote:

Well I learned something. I thought care credit was only for vetinary purposes. When I finally get my foot in the door with Synch, that's what I'll be trying for!

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+1

I learn new stuff on here every day... at one time, I didn't know Care Credit could be use at the vet! 

I use mine at the dentist... I broke a tooth and had to get a full porcelain crown with only two day's notice - that was my first purchase with it.  The second purchase was for a dental implant; I had the screw put in my jaw back in November and I get the crown attached this Thursday!  (I'm actually excited). 

Without the 0% promotional financing I likely would have continued to put it off, and probably would have ended up not getting it done. 

[ojefferyo]

Good to know, thanks for the info.

[Anonymous]

Thanks for this, I made sure to check mine just now👍🏽