Type of Financing |
Name |
Interest Rate |
Terms |
Special Terms |
To Apply |
Contact |
Traditional Credit Cards |
Examples: VISA, MasterCard |
Variable, can be 10% or 24%, depending on credit and payment history. |
Visa and MasterCard are revolving credit cards (can carry a balance indefinitely, with interest, as long as the minimum payment is met each month). No down payment required |
No penalties to payoff the entire balance at once. |
Online, banks, traditional paper credit card application |
|
Special Health Care Credit Cards |
HELPcard® |
Variable, and calculated based on the Prime Rate + 14.99%. The Prime Rate shall be the rate published in the Wall Street Journal on the Friday Following the last Thursday of the month. Minimum payment of 3.25% of the current month’s outstanding balance, or $25, which ever is greater, is required each month. |
Revolving. Credit limit is dependent upon credit history and income level. There is no pre-set amount, and no down payment required. |
There are no prepayment penalties. Payment due dates are 14-20 days from the date of your statement. |
Online or by phone |
www.helpcard.com, or 888-750-6795 |
|
CareCredit |
Can range from no finance charges at all (see info on special promotion), to 29%, depending on the program selected. Typically, the interest rate for this program is 11.9%. However, if you miss just one payment, the rate jumps to 26%. |
The biggest difference between CareCredit and Visa/MasterCard is that any transaction over $300 qualifies for a special financing promotion. Special terms apply. However, promotions vary in every healthcare practice, but generally fall into these categories: No Interest* Promotions and Low Monthly Payment Promotions with a fixed interest rate. No down payment required. There are very specific guidelines that if not followed – can result in rate changes and additional fees. |
*No finance charges will be assessed on the promotional purchase as long as: (1) the promo amount is paid in full within 3, 6, 12 or 18 months (the "promo period") and (2) pay, when due, the minimum monthly payment on your account, which includes a required minimum monthly payment on the promo purchase. (Contact CareCredit directly to learn about special terms with this program.) |
Online or by phone |
www.carecredit.com, or 866-893-7864 |
Leasing Program |
Janus |
9% for everyone – it does not change based on credit history. |
Low initial payments; low monthly payments (from $86 to $121 a month); 48 month lease terms; a 60-day trial period; a low purchase price a the end of the lease; a $500 credit at the end of your lease if you choose to purchase a brand new unit; full warranty coverage for the duration of the lease at no additional cost; free loss and damage insurance at no additional cost. Buyout during the lease does not result in any additional prepayment penalties. |
There is a one-time activation charge of $18 included in the initial down payment; a $6/mo. administration fee, and $10/mo. to cover the loss and damage insurance premiums. |
Online or by phone |
www.speecheasy.com, or 1 866-551-9042 |