Does CVS Accept Care Credit Cards? A Comprehensive Guide

When it comes to managing the rising costs of healthcare expenses, many consumers are turning to healthcare-specific credit cards like Care Credit. These specialized financing tools allow you to charge medical and wellness purchases and pay them off over time, often with promotional interest-free periods.

Content Navigation show

But can you use your Care Credit card everywhere, including major pharmacy chains like CVS? As an avid shopper and retail industry expert, I dug into the details to find out. Here‘s everything you need to know about whether CVS accepts Care Credit, what you can use Care Credit for, and how it compares to other healthcare payment options.

What Is Care Credit and How Does It Work?

First, let‘s review the basics of the Care Credit card. Care Credit is a healthcare credit card issued by Synchrony Bank that‘s accepted by over 225,000 providers across the U.S. You can use it to charge a wide range of health, wellness, and personal care expenses, then pay off the balance over time.

Some key features of Care Credit include:

  • Acceptance for expenses like doctor visits, dental care, vision care, cosmetic procedures, veterinary services, and more
  • Promotional financing offers like 6, 12, 18 or 24 months with no interest charged on purchases of $200 or more (if paid in full by the end of the promo period)
  • Standard APR of 26.99% that applies to any remaining balance after the promotional period
  • No annual fee and instant credit decisions with credit lines up to $25,000

So in theory, Care Credit provides a convenient way to manage out-of-pocket healthcare costs by stretching payments out over time. But you can only use the card at medical offices, pharmacies, and retailers that accept it as a form of payment.

Does CVS Accept Care Credit Cards?

Unfortunately, the short answer is no, CVS does not currently accept Care Credit as a form of payment – either in stores or online at CVS.com. This is surprising to many shoppers, given that CVS is the largest pharmacy chain in the United States with nearly 10,000 locations.

As a major source of prescriptions, immunizations, health screenings and wellness products for millions of consumers, it seems like CVS would be a natural fit for Care Credit acceptance. However, the company has made the decision not to partner with Synchrony Bank to process Care Credit payments at this time.

Why Doesn‘t CVS Take Care Credit?

CVS hasn‘t provided a public explanation for why they don‘t take Care Credit. But there are a few potential reasons behind the policy:

  1. Merchant fees – Care Credit charges businesses a fee for each transaction processed, typically a few percentage points of the purchase amount. CVS may be unwilling to absorb these costs or pass them on to customers.

  2. Brand preference – CVS has its own rewards and loyalty program called CarePass that offers benefits like free delivery and discounts to members who pay a fee. They may prefer to steer customers toward this program versus promoting a competing branded payment method.

  3. Risk avoidance – Synchrony Bank (and its cardholders) takes on the risk for any Care Credit balances that go unpaid. But accepting Care Credit could still impact CVS‘s financial risk and liability in ways it wishes to avoid.

So while the reasons aren‘t entirely clear, the result is that you can‘t pull out your Care Credit card to pay at the register or pharmacy counter at CVS locations. However, there are many other places you can use Care Credit for your health and wellness needs.

Where Can You Use Care Credit Cards?

Care Credit is accepted by a growing network of over 225,000 providers nationwide, spanning healthcare specialties like:

  • Primary care, clinics, and hospitals
  • Dental care for general dentistry, orthodontics, and cosmetic procedures
  • Vision care for optometry, eyeglasses, contacts and LASIK surgery
  • Hearing care for exams, hearing aids, and speech therapy
  • Cosmetic surgery, dermatology and medspa treatments
  • Veterinary care and pet hospitals
  • Chiropractic and physical therapy
  • Medical equipment and home care
  • Pharmacies and drug stores (excluding CVS)

Many major pharmacy and retail chains accept Care Credit, including Walgreens, Rite Aid, Sam‘s Club, Walmart, and Petco – just not CVS. You can look up participating providers in your area on the Care Credit website.

What Purchases Can You Make With Care Credit?

Care Credit is quite flexible in terms of what health and wellness expenses you can charge to the card. In general, any medically necessary or elective service provided by a participating healthcare office is eligible – including doctor‘s visits, surgical procedures, dental work, vision care, and veterinary services.

Care Credit can also be used for personal care items and over-the-counter supplies at pharmacies and retailers that accept it as payment. Eligible purchases may include:

  • Prescription drugs and immunizations
  • Medical equipment like blood pressure monitors, wheelchairs, and CPAP machines
  • Vitamins and supplements
  • Weight loss and smoking cessation aids
  • Diabetes testing supplies
  • Family planning and feminine hygiene products
  • Allergy and sinus medications
  • Pain relief and first aid items
  • Skin, hair and nail care products
  • Bath and body care
  • Shaving and grooming supplies

So while you can‘t stock up on these products at CVS with your Care Credit card, you can purchase them at many other convenient retail locations to take advantage of your credit line.

Is Care Credit the Right Choice for You?

Now that we‘ve covered the details of how Care Credit works and where you can use it, you may be wondering if it‘s the best option for managing your healthcare expenses. The answer depends on your individual financial situation and medical needs.

Here are some potential benefits of using Care Credit:

  • Provides a way to finance medical procedures and wellness purchases that may be unaffordable upfront
  • Offers promotional financing with no interest (if paid in full) to spread out payments over time
  • Can be used for a wide range of health specialties and products at participating providers nationwide
  • Application decisions are instant, with no annual fee and a decent standard APR for a medical credit card

However, there are also some potential drawbacks to consider:

  • High standard interest rate of 26.99% APR that can add up quickly on balances after the promo period
  • Late payments incur fees and penalty rates, increasing your total cost
  • Applying for new credit can temporarily ding your credit score
  • Credit limits may not be sufficient for large planned medical expenses
  • Not accepted by all medical providers or pharmacies like CVS

So before applying for Care Credit, think carefully about your budget, your anticipated health and wellness expenses, and your ability to pay off the balance quickly. Always read the fine print of financing offers and have a plan to avoid paying interest long-term.

What Are Some Care Credit Alternatives?

If you decide Care Credit isn‘t right for you – or your preferred providers don‘t accept it – there are other options for financing medical expenses and prescriptions:

  • HSA/FSA accounts – If you have a high-deductible health insurance plan, you can save money tax-free in a health savings account (HSA) or flexible spending account (FSA) to use for qualifying medical expenses.

  • Payment plans – Many medical and dental offices offer in-house payment plans that split your bill into monthly installments. These may come with low or no interest for a set period.

  • Personal loans – You can apply for an unsecured personal loan through a bank, credit union or online lender to use for any expense, including medical bills. These typically offer fixed interest rates and set repayment terms.

  • 0% APR credit cards – Certain credit cards offer introductory periods up to 18 months with no interest charged on purchases, giving you time to pay down medical balances interest-free. (Just beware of the rates after the 0% period.)

  • Negotiate discounts – Some providers offer discounts for uninsured patients or when you pay your full bill upfront in cash. It never hurts to inquire about reduced pricing, payment assistance, or charity programs.

The "right" strategy will depend on your unique health and financial circumstances. But by doing your research, you can make an informed decision and avoid paying more than necessary for medical care over time.

The Bottom Line

So, does CVS take Care Credit? Unfortunately, no – the largest U.S. pharmacy chain currently does not accept Care Credit for in-store or online purchases.

However, thousands of other healthcare providers and retailers do partner with Care Credit, giving cardholders a convenient financing option for health and wellness purchases they may not be able to afford upfront.

If your preferred pharmacy or provider doesn‘t take Care Credit, you have other avenues to manage medical expenses – from HSA/FSA funds to payment plans to 0% intro APR credit cards.

The key is weighing the costs and benefits of each financing method against your budget and medical needs. By being a smart consumer and planning ahead, you can secure the care you need without sacrificing your long-term financial health.