Unexpected medical expenses can overwhelm patients and strain practice workflows. That’s why many service providers have turned to companies like Sunbit that offer buy now, pay later (BNPL) and other financing solutions.

Originally designed to help customers cover automotive expenses, Sunbit has gained traction by expanding into healthcare areas like dental care, eye care, and veterinary services. Its appeal comes from high approval rates, quick applications, and soft credit checks that help patients with lower credit scores.

But while Sunbit offers flexible payment options, it comes with trade-offs. Some plans rely on deferred interest, loan amounts are capped at $20,000, and merchant fees are higher than other competitors. For practices, this can cut into profitability, while patients can face unexpected costs if balances aren’t paid on time.

The good news? There are several Sunbit alternatives that provide better value for both practices and patients. Below, we compare the top financing options on the market today.

1. Cherry

For practices that want predictable cash flow and higher treatment acceptance, Cherry is often the most practice-friendly option. Unlike some BNPL providers, Cherry approvals are exclusive to the provider where the patient applies, ensuring revenue stays in-house while building loyalty between the practice and the patient. Cherry also pays the practice upfront, so there’s no risk if the patient defaults.

Patients, on the other hand, benefit from flexible financing like the interest-free pay-in-4 plan with options up to 60 months featuring true 0% APR for qualified borrowers (no deferred interest or hidden surprises). Applications take less than a minute, and they use a soft credit check that has no negative impact on patient credit score.

Takeaways – Cherry

• Instant decisions using a soft credit check
  
• Over 80% of patients get approved
  
• High loan amounts up to $50k
  
• True 0% APR for qualified patients
  
• The lowest merchant fees in the industry
  
• Approvals are exclusive to the practice where the patient applies

2. CareCredit

As one of the most established names in healthcare lending, CareCredit functions more like a revolving credit card than a traditional loan. Patients can use their line of credit for a variety of expenses — everything from dental care to veterinary visits at 270,000 participating providers. That broad acceptance is part of its appeal.

Still, the model comes with drawbacks. CareCredit’s popular “no-interest” promotions rely on deferred interest. If the full balance isn’t cleared by the promotional deadline — with each payment on time — patients are charged high interest rates retroactively. A hard credit check is also required during the application process. For practices, higher merchant fees and non-exclusive funding reduce profitability and control.

Takeaways – CareCredit

• Reusable credit card accepted at 270,000+ providers
  
• Reliance on deferred interest can lead to steep retroactive charges
  
• Requires a hard credit check, which harms patient credit score
  
• Fees are higher compared to other financial services
  
• Funds are not tied to the specific practice

3. Affirm

Best known for its retail and e-commerce partnerships, Affirm has expanded into elective healthcare. Patients tend to appreciate its clarity: the full cost, interest rates, and installments are shown upfront, with no retroactive penalties or surprise charges.

That said, loan sizes max out at $17,500, making Affirm less practical for higher-ticket care. Practices also face merchant fees of nearly 6% per transaction, plus a flat charge — cutting into margins compared to more healthcare-focused options.

Takeaways – Affirm

• Clear, transparent repayment terms
  
• Short-term interest-free plans exist, though not on all purchases
  
• Loan limits up to $17,500
  
• High provider fees (5.99% + $0.30 per transaction)
  
• Familiar to patients due to wide partnerships with top retailers

4. Afterpay

Afterpay is one of the most recognized BNPL brands globally, especially at in-store checkout and in e-commerce. Its simple model — split payments into four equal, interest-free installments — makes it accessible and familiar to consumers.

However, for medical aesthetics treatments, Afterpay’s relatively low loan limits for new customers are a barrier. Missed payments can also trigger late fees, adding hassle for patients. For practices, it can encourage quick patient decisions on lower-cost treatments but isn’t suited to higher-value procedures.

Takeaways – Afterpay

• Easy pay-in-4, always interest-free if paid on time
  
• Major presence in retail and in-person checkout
  
• Late fees for missed payments
  
• Limited loan amounts compared to healthcare-first solutions
  
• Popular among younger patients but less tailored to provider needs

5. Klarna

Another well-known BNPL financial technology company, Klarna, has made its mark in retail and is now gradually entering healthcare financing. It offers both interest-free short-term installment plans and longer loans with interest rates that vary by product and creditworthiness.

Patients often enjoy Klarna’s mobile app and ability to manage different payment options in one place. But from a practice perspective, its smaller borrowing amounts and higher merchant fees make it less suited for larger treatments.

Takeaways – Klarna

• Variety of payment plans, including interest-free short-term options
  
• Well-known fintech brand with strong consumer adoption
  
• Borrowing amounts more limited than healthcare-specific lenders
  
• Works better for low-to-mid pricing services than major procedures
  
• Can create administrative hassle for providers due to higher fees

6. Scratchpay

Unlike most BNPL companies, Scratchpay was originally designed specifically for veterinary care, and though it has since expanded into human healthcare, it’s primarily used by pet owners. Borrowers can apply online for quick access to structured payment plans that cover both routine visits and emergencies for their pets.

The tradeoff is limited flexibility and lower approval rate. Loan amounts are capped at $10,000, and some plans still rely on deferred interest. Practices may also face higher merchant fees, which cut into revenue. For practices that want broader patient coverage and lower costs, other providers may be a better fit.

Takeaways – Scratchpay

• Digital application process with near-instant results
  
• Structured payment plans for veterinary expenses
  
• Some plans involve deferred interest
  
• Capped borrowing amounts compared to other lenders
  
• Higher provider fees and lower approval rates than alternatives like Cherry

7. Traditional Personal Loans

For patients with strong credit scores and stable income, traditional personal loans through banks or online lenders like Prosper and LendingClub are a viable option. Borrowing limits are higher, repayment terms can extend over several years, and there’s no down payment required.

The downsides? The application involves a hard credit check, approvals can be slow, and interest rates vary widely depending on financial history. Since funds are deposited into the patient’s bank account rather than directly to the practice, providers don’t have the same control or assurance of payment.

Takeaways – Personal Loans

• Large borrowing limits ($1,000–$100,000)
  
• Repayment terms as long as 7 years
  
• APRs from roughly 6% to 36%
  
• Requires credit check and income verification; ideal for borrowers with high credit scores
  
• Funds not tied to specific treatment or provider
  
• Higher interest rates and longer terms can mean more money spent over the life of the loan

Final Thoughts: Choosing the Right Sunbit Alternative

Sunbit has helped expand access to buy now, pay later options across healthcare and auto repair, but its high fees, capped loan amounts, and reliance on deferred interest make it less than ideal for many providers. Fortunately, today’s practices can choose from stronger payment solutions that improve case acceptance and reduce financial stress for patients.

Among these, Cherry stands out as the most balanced option for both practices and patients:

For Practices

• Lowest merchant fees in the industry
  
• Receive payment upfront
  
• 80+% approval rate — most approvals across credit profiles
  
• Approvals tied directly to the practice
  
• No financial risk if patients defaults
  

For Patients

• Instant decisions with a soft credit check (no impact on credit score)
  
• No deferred interest or hidden fees
  
• Available at 40,000+ providers across healthcare and wellness areas like plastic surgery, medical aesthetics, dermatology, veterinary, dental, and orthodontics.
  
• True 0% APR long-term financing with no deferred interest traps
  
• Flexible monthly payment plans up to $50,000 for larger treatments

By choosing Cherry, practices can increase case acceptance, patients can move forward with recommended treatment without financial hassle, and communities gain easier access to essential healthcare. Claim your complimentary demo to see how Cherry can transform your practice.