Does anyone know if you can pay off your Care Credit balance early and not have a penalty?

For example, if I finance 5000 over 36 months & then 3 months later I have enough cash elsewhere to pay it all off, would I just be able to pay the remaining balance of the 5000? Or would I owe 6238 (the total amount I would have paid CareCredit over the life of the loan)?

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I would imagine that you would be able to pay it off in advance. I would try the customer service number or check the website for FAQ's. I remember checking the site a few weeks back but do not remember what the specifics were.

My understanding is it's just like a normal credit care. You can pay it off early without any penalty.

I agree with Cheles...

I also believe that we can pay it off early without any penalty.

When I checked on this, I was told I could not pay it off early. I decided to put it on our visa card, pay it off early and use the reward points for a nice vacation.

You can pay it off anytime without penalty.

You can pay it off

The last time I did care credit I had participated in a promo, no interest for 6 months....so I would imagine no penalty

I have a carecredit card that I used for several dental procedures. Each time I used the card, that particular charge was done at no interest for 6 months (but there are varying promotions). You absolutely can pay it off early but if you don't pay the "promotional balance" by the due date (6, 12 or 18 months) then you will be hit with compounded interest. And when you log into your account, you can see each "promotional balance" and it lists the original amount, the current balance for that charge and the date that it expires. Hopefully, the next time I use the card it will be for my tummy tuck!!!!!

This is how my doctor's office explained it to me. . . They only take CareCredit with the long-term (24-months or more) plan. If they take the plan that allows the patient to pay early, CareCredit charges the doctor for the finance fees. If the patient pays for 24 months or more, CareCredit gets the interest payments and that is how they make money. They would not allow me to pay it off early without charging my doctor's office.

I think you need to call CareCredit and find out. That doesn't seem right to me. I was told no matter how long it was for, you can pay it off early with no penalty.

Thanks! I will check on it again.

I love them. I am paying paying paying! You can pay off early. I had 18 month no interest on $15,900. I hope to pay it off. I will have to sell everything I own. No wonder I need clothes.

Just give them a call and ask what applies to your charges. They are really nice to talk to.

Thought I'd share:

I called CareCredit and asked about this. I'll have a large balance so I can't do a promotional 18 or 24 months no interest offer. I'll be doing payback at the 14.99% over several years. According to customer service, my monthly payment due will change. It won't be, say, $200 a month for 3 years. Instead, what's due is a percentage of your balance. Like a credit card. The first month, I may have to pay $200. The next month I might have to pay $190, etc.

If I were to pay off the balance "early", there would be no penalty.

Hope this information will help someone else.

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