Ask about a payment plan
Rather than risk deferred interest on the CareCredit® credit card‘s shorter financing plans, or accepting a higher APR for one of the card’s longer plans, consider asking your healthcare provider about a payment plan. If available, you may be asked to choose between a shorter-term repayment plan where you pay no interest or a longer-term plan where you pay a lower monthly amount but do incur interest charges.
Apply for a 0% intro APR credit card
If you have good, very good or exceptional credit (a credit score between 670 and 850), you might decide to apply for a credit card offering a 0% intro APR period on purchases like the Wells Fargo Reflect® Card. Cardholders enjoy a 0% intro APR 21 months from account opening , after which a 18.24%, 24.74%, or 29.99% Variable APR applies.
Unlike a deferred interest offer, if you have a balance remaining after an intro APR period expires, you’ll just start accruing interest on your balance from that point onward — you won’t be charged interest on the amount of the entire purchase going back to the purchase date. This means a card offering an intro APR on purchases is a much safer option than the CareCredit® credit card‘s deferred interest financing.
While the Wells Fargo Reflect® Card doesn’t offer rewards, the annual fee is $0, and there’s cellphone protection of up to $600 ($25 deductible per claim) when you pay your phone bill with this card.