Care Credit For Pets–Veterinary Financing

Care Credit For Pets–Veterinary Financing

Healthcare for pets is expensive. Healthcare for ferrets can be even more so, due to the fact that pet insurance for ferrets is almost non-existent.

I have previously written about my discovery of Pet Assure. I was happy to find it offers– veterinary pet insurance for ferrets.  Now, I have discovered another option for paying for vet bills–Care Credit for Pets.

Many people have heard of Care Credit. In business for almost 30 years, Care Credit provides financing options for treatments and procedures that typically are not covered by health, dental, and vision insurance. Care Credit also can be used when insurance doesn’t cover the full amount and for deductibles and co-payments.

Care Credit is a unique, specialized healthcare credit card with special financing offers.  There are short-term and longer-term financing options.

But, did you know that Care Credit also provides Veterinary Financing options?  

Care Credit can be used the same way for pets as for people–with or without pet insurance. So, even if you have pet insurance, you can use Care Credit for the amount your insurance doesn’t pay.

Once you are approved, you can use Care Credit over and over, up to your credit limit. It can be used for veterinary procedures for your ferret and/or other pets, as well as dental, health and vision care for yourself and your family.

So, for example, your ferret had a blockage and needed surgery. The cost was $2,500. You opened a Care Credit account at your vet and took advantage of the Veterinary Financing. You were approved for $6,000 credit. You put the $2,500 on your Care Credit.

With shorter term financing options–from 6- 24 months– no interest is charged on purchases of $200 or more when you make the minimum monthly payments and pay the full amount due by the end of the designated period. However, if the amount financed is not paid in full within the designated period, interest will be charged to your account from the purchase date.

Example based on a $2,500 Veterinary bill, with the entire amount financed

6-month term: $417 monthly payment

12-month term: $209 monthly payment

18-month term: $139 monthly payment

Care Credit also offers longer-term financing from–24- 60-months– with a reduced APR and fixed monthly payments required until the full amount is paid. Purchases of $1,000 or more are eligible for a 24, 36 or 48-month offer with a 14.90% APR. Purchases of $2,500 or more are eligible for a 60 months offer with a 16.90% APR. 

While you are still paying a finance charge, it is much less than a typical credit card.

Example based on a $2,500 Veterinary bill, with the entire amount financed

24 month term: $122 monthly payment/$2,907 total paid

36 month term: $87 monthly payment/$3,116 total paid

48 month term: $70 monthly payment/$3,334 total paid

60 month term: $62 monthly payment/$3,720 total paid

Since you have a credit limit of $6,000 and only used $2,500 of it, you have $3,500 in credit left to use on other vet bills or on dental, vision, or health care costs for yourself or your family. If your dog needs to have his teeth cleaned or you need new glasses, you can use Care Credit to help you finance these costs.

There is one problem with Care Credit For Pets–or for people–it isn’t accepted everywhere. If you want to use Care Credit for Veterinary Financing or for financing your healthcare, you need to check with your vet, dentist, etc. to see if she accepts it. Having recently discovered Care Credit For Pets, I have not used it for Veterinary Financing yet, but I have used it for an $8,000 dental bill and was very happy with it.