When medical bills, elective procedures, or even routine wellness visits aren’t fully covered by insurance, patients often turn to flexible financing solutions that allow them to get care now and pay later. Two options worth considering are Sunbit financing and the CareCredit card.

Both offer ways to split the cost of healthcare into manageable payment plans — from cosmetic treatments to veterinary care. However, they work in very different ways. Sunbit uses a buy now, pay later model with fixed installments, while CareCredit functions like a reusable credit card tied to participating healthcare providers.

For patients, the right choice often depends on treatment cost, credit score, approval rates, and whether they want a flexible revolving line of credit or a structured plan with predictable installments.

For practices, choosing a solution often comes down to approval rates, ease of use, flexibility of loan terms and upfront payment. Here’s how Sunbit and CareCredit compare.

How CareCredit Works

Backed by Synchrony Bank, CareCredit has become a widely recognized brand in healthcare financing with a network of over 270,000 practices. It offers borrowers a revolving line of credit up to $25,000 that they can use to cover a variety of medical expenses, from cosmetic surgery to dental treatments.

Patients apply at CareCredit.com through a traditional application process that includes a hard credit check (which will harm the applicant’s credit score). If approved, they receive a CareCredit card that can be used with participating healthcare providers.

For cardholders, the main appeal of CareCredit is that it works like a regular credit card — once approved, they don’t need to apply for a new loan every time they want to finance a procedure.

Many CareCredit offers include 0% financing for 6–24 months, which can be attractive, but these promotions use deferred interest. That means the patient has to make every payment on time during the promotional period, and pay the balance in full by the end to avoid steep retroactive interest rates. Even one missed or late payment can result in retroactive interest being charged from the purchase date.

For practices, CareCredit provides brand recognition, a large patient and provider base, and upfront payment to practices at the point of sale. But it also comes with higher merchant fees and non-exclusive approvals, meaning patients can take their credit line to other providers if they’re approved.

Key features:

• Revolving line of credit up to $25,000
  
• 32.99% standard APR
  
• Uses deferred interest
  
• Revolving balance with minimum monthly payments
  
• Late fees apply if payments are missed
  
• Caters to borrowers with good creditworthiness

How Sunbit Works

Once strictly for auto repair, Sunbit now offers loans through Transportation Alliance Bank (TAB) in healthcare areas like dentistry, eye care, wellness, and veterinary services. Its strength lies in accessibility: the application process uses a soft credit check, meaning it won’t hurt the applicant’s credit score, and approval rates are particularly high for consumers with bad credit (Sunbit’s primary audience).

Patients can apply using a quick online application. If approved, they make a down payment up front, then pay the balance in fixed installments over 3 to 72 months. Sunbit offers interest-free promotions, though these also rely on deferred interest. Combining Sunbit’s focus on subprime borrowers with deferred interest promotions can lead to unexpected debt that erodes patient trust.

For practices, Sunbit’s high approval rates can help increase case acceptance, but its merchant fees (starting at 4.7%) are higher than other competitors, and loan caps of $20,000 may limit financing for larger procedures.

Key features:

• Up to $20,000 in funding available
  
• 3–72 month loan terms
  
• Up to 35.99% APR
  
• Uses deferred interest
  
• High approval rates for consumers with bad credit
  
• Down payment required upfront, followed by fixed installments

CareCredit vs Sunbit: At a Glance

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Choosing Between CareCredit and Sunbit

For patients:

• CareCredit offers a reusable line of credit across multiple healthcare providers, which works for ongoing needs like dental work, cosmetic touch-ups, or wellness checkups. But its reliance on deferred interest, strict approval standards, and potential late fees makes it less ideal for borrowers with adverse credit.
  
• Sunbit provides fast approvals and flexible payment plans, making care accessible to patients with lower credit scores. Its cap of $20,000, however, makes it more suitable for covering routine treatments not covered by medical or dental insurance. Higher-cost treatments like full-mouth dental procedures or major cosmetic surgeries may require a higher loan limit. Additionally, deferred interest promotions can lead to unexpected debt, especially with subprime borrowers.
  

For practices:

• CareCredit brings brand recognition and a wide patient base, but non-exclusive funding and higher provider costs limit its financial benefit, and stricter approval standards limit approval rates across credit profiles.
  
• Sunbit increases profitability with exclusive approvals and boosts treatment acceptance with wider eligibility for borrowers with bad credit, but unexpected debt via deferred interest promotions can erode patient trust.

Alternatives to Sunbit and CareCredit

Every practice and patient is different, and no single financing program works for everyone. While Sunbit and CareCredit are popular, other financing solutions bring different strengths — from higher approval rates to true interest-free plans. Exploring these alternatives can help practices expand access to care while giving patients more confidence in their payment options.

Cherry

Cherry is a buy now, pay later (BNPL) company built specifically to cover healthcare costs in dentistry, aesthetics, plastic surgery, dermatology, and veterinary care. If approved, patients can secure loan amounts up to $50,000 with true 0% APR for qualified borrowers — no deferred interest. Completing an application takes just 60 seconds and doesn’t harm patients’ credit scores. Approval decisions are instant.

For practices, Cherry improves treatment acceptance with an 80%+ approval rate across all credit profiles, upfront payment to practices, the lowest merchant fees in the industry, and exclusive approvals — meaning patients can only use their approval at the practice where they applied. This can improve both practice revenue and patient loyalty.

Takeaways – Cherry

• 60-second application process with soft credit check
  
• Approval rates above 80% across credit profiles
  
• Loan amounts up to $50,000 and terms up to 60 months for larger treatments
  
• Short-term interest-free pay-in-4 option, plus longer terms with qualifying 0% APR
  
• Lowest merchant fees in the industry
  
• Approvals exclusive to the healthcare provider where the patient applied

Alphaeon Credit

Alphaeon Credit is accepted by healthcare providers in dermatology, dental, ophthalmology, and plastic surgery. Like CareCredit, it gives patients a reusable line of credit that can be used at participating practices.

Patients must undergo a traditional application process, including a hard credit check. The company markets 0% promotional periods, but these rely on deferred interest — meaning balances must be paid in full and on time throughout the promo period to avoid retroactive interest charges.

Practices will appreciate upfront payment at the point of sale, but approvals aren’t exclusive, so the patient can use their funds anywhere Alphaeon is accepted.

Takeaways – Alphaeon Credit

• Revolving credit card financing for elective healthcare
  
• Slower approval process that may delay treatment
  
• Hard credit check required; reports to credit bureaus
  
• Promotional period offers tied to deferred interest
  
• Non-exclusive approvals; patients can use credit at multiple providers

Affirm

Both patients and providers will recognize Affirm from its presence in retail. Its network spans over 377,000 merchants, and now includes healthcare practices as well.

For borrowers, Affirm offers a quick and easy application process at checkout. It involves only a soft credit check and approvals are instant. Transparency is one of Affirm’s greatest strengths — patients don’t have to worry about hidden fees or deferred interest. Loan amounts, interest rates, terms, and fees are all laid out at the time of approval.

Loan amounts reach up to about $17,500, with terms up to 36 months. Some interest-free promotions are available for qualified borrowers. For providers, Affirm’s biggest drawback is its steep fees — around 5.99% + $0.30 per transaction — which are higher than other healthcare-first financing options. Other drawbacks include its lack of specialization in healthcare and low loan limits for higher-ticket procedures.

Takeaways – Affirm

• Well-known payment solution with a large network
  
• Clear application process with transparent terms and soft credit check
  
• Loan amounts up to $17,500 limit accessibility to high-ticket treatment
  
• Interest-free pay-in-4 plan for qualified borrowers, no deferred interest
  
• High provider fees (about 5.99% + $0.30 per transaction)
  
• Familiar to patients but not tailored to healthcare

Klarna

Klarna is a global BNPL financing company that has entered healthcare after building its reputation in e-commerce. Its application process is quick and only uses a soft credit check for approval.

If approved, patients can choose from short-term interest-free installment plans like pay-in-4 or pay-in-30, or longer loans with rates that vary based on credit score and eligibility. Most borrowers start with a low credit limit that increases over time with responsible use, making Klarna best for covering low-cost expenses like oral health checkups or small cosmetic treatments.

Klarna’s strength lies in its widespread consumer adoption and mobile app, which allows patients to manage payments easily. For providers, higher merchant fees can cut into profitability, low loan limits can hurt treatment acceptance for high-cost procedures, and a lack of specialization in healthcare may mean a less seamless integration into provider workflows.

Takeaways – Klarna

• Global buy now, pay later brand with over 790,000 merchants
  
• Multiple payment options, including short-term interest-free plans
  
• Popular mobile app for managing installments
  
• More suited to wellness or lower-cost procedures than major surgeries
  
• Higher provider fees compared to healthcare-first financing companies
  

Personal Loans (LendingClub, Prosper, SoFi)

Traditional personal loans remain an option for patients with strong creditworthiness who need to cover high-cost medical or dental care. Lenders like LendingClub, Prosper, and SoFi offer loan amounts from $1,000 to $100,000 with repayment terms ranging from 24 to 84 months.

The trade-off is convenience: patients must undergo a hard credit check and income verification, and funding can take days. There are also no interest-free options available, and though longer terms can translate into lower monthly payments, they generally mean the borrower will pay more in interest over the life of the loan.

Since funds are deposited into the patient’s bank account rather than paid to the practice, providers don’t get upfront payment or exclusivity.

Takeaways – Personal Loans

• Large loan amounts available ($1,000–$100,000)
  
• Long repayment terms (up to 84 months)
  
• Interest rates from ~6% to 36% that favor borrowers with good credit
  
• Hard credit check required; reported to credit bureaus
  
• Slower application process compared to point-of-care financing solutions
  
• Funds not tied directly to a specific provider

Final Thoughts: Sunbit vs CareCredit for Healthcare Financing

Both CareCredit and Sunbit give patients a way to move forward with care by breaking expenses into monthly payments, and both can help practices boost case acceptance. CareCredit offers a broad patient base and the convenience of a reusable line of credit, but uses a traditional application process with a hard credit check that favors borrowers with good credit history.

Sunbit stands out for its soft credit check and high approval rates for low-credit borrowers, but mixing deferred interest promotions with this audience could create an erosion of trust between the practice and patient.

Fortunately, alternatives like Cherry offer the best of both worlds. Patients benefit from a 60-second application with a soft credit check and an instant approval decision, loan amounts up to $50k with terms as long as 60 months, and true 0% APR for qualified borrowers (no deferred interest). Practices benefit from the lowest merchant fees in the industry, an 80%+ approval rate across all credit profiles, upfront payment, and approvals exclusive to the practice.

Cherry has helped over 40,000 practices increase treatment acceptance and enhance cash flow. Want to learn more? Claim your complimentary demo here.