CareCredit Introduces CareCredit Pay Later, Offering Consumers Another Way to Plan and Pay for Health and Wellness Care

Consumers can check whether they prequalify for CareCredit financing without a hard credit check or an impact on their credit score.

Rhea-AI Summary

Synchrony (NYSE: SYF) launched CareCredit Pay Later, an enhanced and rebranded installment loan product for eligible health and wellness consumers. Available at nearly 20,000 locations, it covers specific purchases and elective care expenses not covered by insurance, including at select dental, cosmetic, vision and audiology providers.

The single-use loan offers fixed monthly payments, a fixed annual percentage rate and a defined payoff timeline. One credit application lets eligible consumers compare available installment and revolving credit options. Synchrony plans expansion across CareCredit's network over time.

Key Figures

Initial availability: Nearly 20,000 locations CareCredit network: More than 290,000 locations Payment options and provider choice: 80% +1 more

Initial availability

Nearly 20,000 locations

CareCredit Pay Later availability at launch

CareCredit network

More than 290,000 locations

Nationwide acceptance for CareCredit credit card products

Payment options and provider choice

80%

Surveyed consumers who said payment options influence provider selection

Flexible payment options

77%

Consumers who said flexibility is critical when choosing a recommended treatment plan

Key Terms

installment loan, fixed apr, underwriting, debt-to-income

4 terms

installment loan financial

"a one-time-use installment loan, offering fixed monthly payments"

An installment loan is a type of credit where a borrower receives a lump sum and repays it in a set number of regular payments (principal plus interest) over a fixed period, like a mortgage or car loan paid monthly. For investors, these loans matter because they create predictable cash flows for lenders and carry credit and interest-rate risk—changes in default rates or rates can affect the value of investments tied to these loans.

fixed apr financial

"offering fixed monthly payments, a clear payoff timeline, and a fixed APR"

Fixed APR is the annual percentage rate on a loan or credit product that does not change for the length of the fixed-rate period. It expresses the yearly cost of borrowing as a single percentage that typically includes the nominal interest rate and any mandatory finance charges required to calculate APR; because it is fixed, scheduled interest charges and monthly payments based on that rate remain predictable for the stated period. The term can be limited by contract terms — for example the rate may be fixed only for an introductory period before switching to a variable APR — so the duration of the fixed period is part of the definition.

underwriting financial

"Synchrony PRISM®, Synchrony's proprietary underwriting platform"

Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.

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debt-to-income financial

"debt-to-income indicators, and existing loan commitments"

The debt-to-income ratio (DTI) compares a person’s regular debt payments to their income, showing what portion of earnings goes to bills like loans, credit cards and mortgages. Think of it as the slice of a paycheck already promised to lenders; a larger slice means less financial flexibility and a higher chance of missed payments. Investors use DTI to gauge credit risk, loan performance and consumer spending power, which affect lenders’ profits and default rates.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CareCredit Pay Later is CareCredit's enhanced installment loan product that will be presented digitally with CareCredit's revolving credit card to give consumers additional payment options and simplified offer comparisons.

Key Highlights:

• Supporting providers and consumer choice: Offering more payment choices can help providers meet different consumer preferences, while CareCredit manages administrative and billing workflows.
• One credit application. Two ways to pay: CareCredit Pay Later and the CareCredit credit card give eligible consumers two payment options to help manage care expenses.
• Responsible credit access: Advanced underwriting through Synchrony PRISM evaluates overall active credit commitments to support responsible lending.
• Payment predictability drives consumer decisions: 80% of surveyed consumers say payment options influence which provider they select, and 77% of consumers say having flexible payment options is critical when choosing a recommended treatment plan.
• CareCredit stands apart: CareCredit is the only health and wellness financing platform and network that offers revolving credit, installment loans, promotional financing solutions, and broad provider acceptance across more than 290,000 healthcare locations nationwide.

STAMFORD, Conn., Oct. 21, 2026 /PRNewswire/ -- CareCredit, a Synchrony (NYSE: SYF) solution, today launched CareCredit Pay Later, its enhanced and rebranded installment loan product that provides health and wellness consumers with a clear payment plan and defined payoff timeline to help budget for products and elective health and wellness expenses not covered by insurance. CareCredit Pay Later presents another option to CareCredit's existing credit card and offers another way for eligible consumers to plan and pay for care. It is available today at nearly 20,000 health and wellness locations, including select dental, cosmetic, vision, and audiology care providers, with expansion across CareCredit's entire network over time.

Through a single credit application, eligible consumers can view the full array of CareCredit payment options available to them, so they can choose the product that best fits their budget, including:

• CareCredit Pay Later: A one-time-use installment loan, offering fixed monthly payments, a clear payoff timeline, and a fixed APR for defined care expenses.
• CareCredit Credit Card and CareCredit Rewards Mastercard^®: Reusable revolving credit products that offer special financing options with convenient monthly payments, accepted across 290,000 locations nationwide, as well as select retailers, such as Albertson's, Walgreens and Walmart.

CareCredit Pay Later offers enhanced tools designed to make financing conversations even easier for providers and consumers. The payment calculator, available directly from the Provider Center portal homepage, now includes CareCredit Pay Later and uses each provider's specific promo mix to deliver more accurate estimated payment amounts. In addition, providers can now modify loan amounts before funding, creating greater flexibility to accommodate for treatment plan changes and helping ensure financing stays aligned with care decisions.

To ensure consumers are extended credit responsibly, CareCredit utilizes Synchrony PRISM^®, Synchrony's proprietary underwriting platform. PRISM evaluates an applicant's broader financial health — looking beyond static credit scores to evaluate active lines of credit, debt-to-income indicators, and existing loan commitments that may not show on traditional credit reports. Consumers are encouraged to ask their participating CareCredit enrolled provider about the payment options that may be available to them, so they can make an informed decision. CareCredit Fair Financing Principles (FFP) initiative — designed to set a high standard for transparency and consumer education — connects consumers with product comparison guides, budgeting tools like CareCredit's procedure calculator, and an educational consumer guide managing commitments responsibly.

"In an industry where many treatments and products are elective, having flexible ways to pay for care is critical for consumers," said Adam Reinebach, CEO of the American Med Spa Association (AmSpa). "For med spa customers, having choices like the CareCredit credit card and CareCredit Pay Later can make it easier to move forward with the care they want, while benefiting from the confidence of paying through a trusted industry financing partner."

By providing tailored choices up front and allowing participating providers to easily customize promotions and then view, filter, and share available offers, this multi-product experience can help improve treatment conversion and acceptance, while CareCredit eases administrative burdens and helps simplify the payment process.

"When it comes to health and wellness, a 'one-size-fits-all' payment plan doesn't work for everyone," said Beto Casellas, Executive Vice President and Chief Executive Officer of Health & Wellness at Synchrony. "With CareCredit Pay Later, consumers now have more options to choose from based on their purchase, monthly budget, and preferences. By expanding these choices, we're empowering people to plan and pay for the care they want."

Research Shows Payment Clarity and Choice Matter When Planning and Paying for Care
The expanded offering comes as CareCredit consumer research reveals how strongly cost, payment clarity and choice can shape care experiences and decisions.

According to the research:

• Cost clarity matters early. 58% of consumers worry about how much care will cost, and 51% say it's not always clear what out of pocket expenses will be.^[1] In addition, 77% say knowing the total cost of care upfront is very or extremely important.¹ 
• Payment experience can influence provider choice. 80% say payment options influence which provider they select,^[2] and 50% would consider switching providers if billing became too cumbersome.¹ 
• Credit access can help consumers move forward. 41% say they would likely postpone their care if they could not pay using credit, and 46% would postpone if they had to pay full price upfront.²

To learn more about CareCredit, visit https://www.carecredit.com/.

FAQ

What is CareCredit Pay Later?
CareCredit Pay Later is a single-use installment loan that offers eligible consumers a fixed APR, set monthly payments, and a defined payoff timeline to budget for specific health and wellness expenses.

How does Synchrony ensure CareCredit Pay Later is used responsibly? 
CareCredit utilizes Synchrony PRISM^®, an advanced underwriting engine that looks at an applicant's complete financial picture. PRISM evaluates overall active debt commitments — including active loans across other platforms — to help ensure applicants are not taking on payments they cannot comfortably manage.

How is CareCredit Pay Later different from the CareCredit credit card?
CareCredit Pay Later is a single-use installment loan that closes once the balance is paid in full. The CareCredit credit card is a reusable line of credit offering deferred interest options and ongoing utility across more than 290,000 provider and retail locations nationwide.

How is CareCredit Pay Later different from Pay In Four?
CareCredit Pay Later offers consumers longer-term installment options with fixed monthly payments, a fixed APR, and defined payoff timelines designed to help budget for larger health and wellness expenses, whereas Pay in four plans typically split smaller purchases into four short-term, bi-weekly payments.

Will checking my eligibility impact my credit score?
No. Consumers can see if they prequalify for CareCredit financing options through a simple application with no hard credit check, meaning there is no impact to their credit score.

Where can I use CareCredit Pay Later?
CareCredit Pay Later is currently rolling out to nearly 20,000 participating health and wellness locations, including select dental, cosmetic, vision, and audiology providers, with planned expansions across CareCredit's network over time. Consumers are encouraged to ask their provider which CareCredit payment options are currently available at their practice.

Can I use a CareCredit Pay Later loan for multiple, ongoing treatments?
CareCredit Pay Later is designed as a single-use loan for a specific treatment, procedure, or purchase. For ongoing care wants and needs, elective care, and repeat use across our provider network, the CareCredit credit card remains an ideal reusable financing option.

How does offering CareCredit Pay Later benefit health and wellness providers and practices?
Because every consumer's financial situation is different, a "one-size-fits-all" approach to payments no longer works. By offering an expanded suite of payment options with a single application, providers can meet diverse consumer wants and needs and help more people say "yes" to recommended care. Furthermore, CareCredit manages all billing and collections, streamlining the payment experience for practice staff and protecting providers against payment delays and defaults.

About the Research
The findings cited in this release are drawn from two CareCredit consumer research studies: Well, Informed, which explored consumer attitudes and experiences related to healthcare costs and payment preferences, and Path to Purchase, which examined when and how payment information influences decisions across the healthcare journey. Respondents across both studies totaled 4,105. Additional methodological information is available upon request. 

About Synchrony
Synchrony (NYSE: SYF) is a leading consumer financing company that has been at the heart of American commerce and opportunity for nearly a century. Synchrony delivers credit and banking products that empower tens of millions of consumers to improve their financial lives and access what matters most. Leveraging innovative solutions that are shaping the future of retail commerce, Synchrony supports the growth and success of some of the nation's most respected brands, alongside hundreds of thousands of small and midsize businesses, including health and wellness providers. Committed to excellence in service and culture, Synchrony is honored to be ranked the #1 Best Company to Work For^® in the U.S. by Fortune magazine and Great Place to Work^®. For more information, visit www.synchrony.com.

Contact:
Michelle Romero
Synchrony
Michelle.Romero@syf.com 

*Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

_____________________________
1	"Well Informed." CareCredit. May, 2026.
2	"2026 CareCredit Path to Purchase." CareCredit. March, 2026.

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SOURCE Synchrony

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Synchrony's CareCredit Pay Later?

CareCredit Pay Later is a single-use installment loan with fixed monthly payments, a fixed annual percentage rate and a defined payoff timeline. It finances a specific health and wellness treatment, procedure or purchase and closes once the balance is paid in full.

Where is CareCredit Pay Later available?

CareCredit Pay Later is available at nearly 20,000 participating health and wellness locations, including select dental, cosmetic, vision and audiology providers. Synchrony plans to expand it across CareCredit's network over time.

Does checking eligibility for CareCredit Pay Later affect a credit score?

Checking whether a consumer prequalifies for CareCredit financing involves no hard credit check and does not affect their credit score. Consumers can see whether they prequalify through a simple application.

How does Synchrony assess applicants for CareCredit Pay Later?

Synchrony uses its PRISM underwriting platform to assess applicants' broader financial circumstances. It evaluates active credit lines, debt-to-income indicators and existing loan commitments that may not appear on traditional credit reports.