Late last month, our kitten Lucky became very ill with bladder stones and required a fairly lengthy hospitalization and surgery. The cost, for us, was staggering. When faced with the estimate, we turned to a brochure we saw in the veterinary hospital waiting room for CareCredit.
I’ve written about CareCredit before but never had to rely on it in the past. The cost for Lucky’s services was so large, though, that we decided that we needed to apply for credit.
The veterinary hospital set us up in an empty examination room, one they already had prepared with easy instructions for applying for credit. You can also apply online on the CareCredit site but they explained that the fastest acceptance — and one that gave them quick access to the funds — would be over the phone.
I called CareCredit, gave them my name and basic information and last year’s income. I was on hold for about 30 seconds then quickly had our acceptance. (With our household income relying on self-employment, I was worried — and relieved with the acceptance came.) I copied down a case number, gave that to the vet hospital, and we had credit to cover the cost of his hospitalization at the specialty hospital and his surgery. (We had already charged quite a bit at two other veterinary hospitals and the emergency vet hospital but it didn’t include that amount.)
The entire process was super fast and simple. Once the specialty hospital had our case number in their system, we were set for all preliminary costs. At the end of the week, when Lucky’s entire bill was ready, we just signed for the charges.
We’re taking the six-month repay option which means no interest. According to the CareCredit website, they have several payment options:
No Interest If Paid In Full: 6, 12, 18 and 24 month special financing options on purchases of $200 or more*;
14.90% APR and Fixed Monthly Payments Required Until Paid In Full**: On qualifying purchases made with your CareCredit credit card account. Fixed Monthly Payment amount based on repayment 24, 36, 48 or 60 month period.
Purchases of $1,000 or more are eligible for a 24, 36 or 48 month offer [and] purchases of $2,500 or more are eligible for a 60 month offer.
So far, our experience with CareCredit has been really good. I received a card, which looks much like a credit card, the next week, to take in for future vet expenses, if I’d like to use the remaining balance. (And Lucky’s headed back on Friday for a follow-up so I’ll be using it then.) A few days later, I received our first bill. Much like a credit card bill, it offered the option of paying a minimum payment or a larger amount per month. As long as the balance is repaid within six months, we’ll accrue no interest.
I know that financing pet surgery is one of the most common questions we’re asked. I hope our experience will be useful to someone else looking for ways to finance a sudden surgery or treatment on their beloved pet.
This is NOT a sponsored post; it is just our experience with CareCredit. I hope this will be helpful to others who are faced with a major veterinary expense.
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