As a retail industry expert and self-proclaimed "picky shopper," I know firsthand how expensive it can be to care for a pet – especially when unexpected medical issues arise. Many pet owners turn to financing options like CareCredit to help manage those costs. But can you use CareCredit at popular pet retailers like PetSmart? The answer is not a simple yes or no.
In this comprehensive guide, I‘ll break down everything you need to know about using CareCredit at PetSmart and other pet stores. I‘ll also share some insider tips for maximizing your savings and getting the most bang for your buck as a savvy pet parent shopper.
The Rising Costs of Pet Healthcare
Before we dive into the specifics of CareCredit and PetSmart, let‘s take a step back and look at the bigger picture. Pet healthcare costs have been steadily rising in recent years. According to the American Pet Products Association, Americans spent over $30 billion on veterinary care in 2020.
A main reason for this increase is advances in veterinary medicine that allow pets to live longer. Treatments like chemotherapy, joint replacements, and stem cell therapy are becoming more common – but they come with a hefty price tag. Even routine expenses like dental cleanings, parasite prevention, and diagnostic tests can add up quickly.
To illustrate the scope of veterinary expenses, here are some interesting statistics:
| Expense | Average Cost |
|---|---|
| Routine vet visit | $50-$250 |
| Dental cleaning | $500-$1,000 |
| Emergency vet visit | $500-$2,000 |
| Ongoing meds for chronic condition | $500-$2,000 per year |
| Cancer treatment | $2,000-$10,000 |
(Sources: PetMD, Preventive Vet, CareCredit)
With potential costs like these, it‘s no wonder many pet owners are looking for financing options to help them provide the best possible care for their furry friends without breaking the bank. That‘s where CareCredit comes in.
What is CareCredit and How Does It Work?
CareCredit is a health and wellness credit card that can be used for your pet‘s veterinary expenses. It‘s accepted at over 225,000 locations nationwide, including many vet clinics, animal hospitals and pet retailers with on-site vet services.
Some key features of CareCredit include:
- Deferred interest financing options for purchases of $200 or more. You can get 6, 12, 18 or 24 months to pay with no interest charged if you pay the full amount by the end of the promotional period.
- Reduced APR financing for larger purchases. For example, you can get a 14.90% APR for 24, 36 or 48 months on purchases of $1,000 or more.
- Ability to use the card again and again for your pet‘s ongoing health needs.
You can apply for CareCredit online, and most get a decision instantly. However, it‘s important to read the fine print. CareCredit is still a credit card, and interest will be charged on any remaining balance after the promotional period at a hefty 26.99% APR. You‘ll need to make sure you can pay off your balance in time to avoid those interest charges.
Financial experts caution pet owners to use CareCredit and other financing options wisely and sparingly. "Having a dedicated savings fund for pet emergencies is usually a better option than relying on credit," says Julie Rains, personal finance writer for Investing to Thrive. "But for unexpected large expenses, CareCredit can be a lifeline when used responsibly."
CareCredit Acceptance at PetSmart: The Ins and Outs
Now, let‘s get back to the question at hand: does PetSmart accept CareCredit? Here‘s what you need to know.
PetSmart has a partnership with Banfield Pet Hospital, which operates full-service vet clinics inside many PetSmart locations. Banfield accepts CareCredit for all of its veterinary services and treatments, including:
- Comprehensive wellness exams
- Dental care
- Parasite screening and prevention
- Vaccinations
- Spay/neuter surgery
- Chronic disease management
- Urgent care and emergency services
- Prescriptions and prescription diets
CareCredit can also be used for optional packages through Banfield, like their Optimum Wellness Plans that bundle routine care into a monthly payment.
However, it‘s very important to note that CareCredit is ONLY accepted for veterinary services through Banfield. You can‘t use your CareCredit card for any retail purchases on the PetSmart side of the store, like food, toys, treats, grooming, training, or pet adoptions.
"CareCredit‘s terms of service are very clear that the card can only be used for medically necessary health and wellness expenses," explains Dr. Linda Simon, a veterinary surgeon and consultant. "While some specialty prescription diets sold at PetSmart might qualify, the vast majority of their retail products would not be eligible for CareCredit financing."
Maximizing Savings at PetSmart: More Tips for Savvy Shoppers
So if you can‘t finance your PetSmart shopping trips with CareCredit, what‘s a savvy shopper to do? Fear not – there are still plenty of ways to save at PetSmart beyond their in-store Banfield partnership. Here are a few of my favorite insider tips:
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Join PetSmart‘s Treats loyalty program. You‘ll earn 8 points per dollar spent, which can be redeemed for discounts on future purchases. You‘ll also get a birthday gift for your pet and access to members-only pricing and events.
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Get the PetSmart Credit Card. If you‘re a frequent PetSmart shopper, their branded credit card earns 5% back in rewards on all PetSmart purchases. You can redeem those rewards for discounts or even a 6-month Banfield Optimum Wellness Plan. New cardholders can also get 15% off their first purchase.
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Shop sales and clearance. PetSmart runs promotions frequently, especially around holidays. You can find discounts of 20-30% or more on certain product categories. Don‘t forget to check the clearance section for deep discounts on older or seasonal merchandise.
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Use coupons and promo codes. Before shopping at PetSmart, do a quick online search for coupons. Retail deal sites often have codes for percent-off savings or dollar-off amounts for larger purchases. You can also find coupons on PetSmart‘s website or in their mobile app.
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Buy online, pick up in store. If you place your order on PetSmart.com and select free in-store pickup, you‘ll often get an additional 5-10% off your purchase. This can be stacked with other discounts for even more savings.
Other Payment Options for Pet Expenses
As we‘ve covered, CareCredit can be a useful financing tool for pet medical expenses at Banfield inside PetSmart. But it‘s not the only option for handling large, unexpected vet bills.
Some other avenues to consider include:
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Pet insurance: For a monthly premium, pet insurance can reimburse you for a percentage of covered medical expenses. Plans vary widely in terms of cost, coverage, and exclusions, so it‘s important to do your research and enroll when your pet is young and healthy.
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Personal loans: Applying for a personal loan from a bank, credit union or online lender can get you the funds you need upfront. Look for loans with competitive interest rates and repayment terms that fit your budget.
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Crowdfunding: In cases of severe injury or illness, creating a GoFundMe or similar fundraising campaign can help offset costs. Friends, family and even strangers may be willing to chip in, especially with a compelling story and cute pet photos.
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Traditional payment methods: If you have the means, paying for planned pet expenses with cash or a regular credit card that you pay off in full each month is usually the most cost-effective route. Consider setting aside a set amount each month in a dedicated pet savings account.
The Bottom Line
CareCredit can be a smart financing option for pet medical expenses, but it‘s not all-encompassing. PetSmart only accepts CareCredit for veterinary services through their in-store Banfield Pet Hospitals – not for retail purchases on the PetSmart side.
As a savvy shopper myself, I always recommend exploring all your options and going with the one that makes the most financial sense for your situation. Don‘t be afraid to ask your vet about payment plans, look into pet insurance before an emergency hits, and of course, take advantage of every discount and deal you can get your paws on at retailers like PetSmart.
With a little research and strategic shopping, you can give your pet the best care possible without compromising your financial health. After all, our furry friends are worth it.
