Patients expect flexible financing options at checkout — especially for larger purchases like dental treatments, elective procedures, or specialty medical services. Two major players often come up in this conversation: Synchrony (best known in healthcare for CareCredit) and Affirm, a leading buy now pay later (BNPL) provider whose presence has grown through big retailers like Amazon and Apple.

While both companies help patients pay over time, they work very differently, and the right fit depends on your practice’s goals, patient demographics, and preferred payment experience.

Before we dive into the comparison, it’s important to note that Synchrony Financial and Synchrony Bank offer many financial services — including store cards, general-purpose credit lines, and private-label Visa programs.

But in healthcare, their flagship solution — the one almost every practice means when they say “we use Synchrony” — is CareCredit. We’ll focus on CareCredit here, while also touching briefly on Synchrony Pay Later, their BNPL-style product.

How Synchrony Works for Healthcare

When people talk about Synchrony in the context of medical, dental, or veterinary financing, they’re almost always referring to CareCredit, a reusable credit card issued by Synchrony Bank. Although Synchrony has many offerings, CareCredit is its primary healthcare financing product, accepted by more than 250,000 providers.

With CareCredit, patients apply before or during checkout, receive a quick credit decision, and if approved, open a revolving credit line up to $25,000. Approval, credit limits, and APR are based on creditworthiness, and the process involves a hard credit check. This means that not only will the application hurt the patient’s credit score, but those with weaker credit scores or limited credit history will find it harder to get approved, and may face higher interest rates.

Qualified borrowers may be eligible for 0% promotional financing, but it’s important to note that this financing is not true 0% APR — it’s deferred interest. That means if the full balance isn’t paid off by the end of the promotional period, or if even one payment is missed during that period, interest will be charged to the borrower retroactively from the purchase date.

Often, cardholders accept these terms without fully understanding them, and, come the end of the promotional period, find themselves with a large surprise debt. Combined with a high APR, this debt can balloon very quickly.

Key Features

Synchrony’s healthcare financing includes:

• Deferred interest promotions (6–24 months)
• Reduced APR long-term plans (24–60 months)
• A reusable revolving credit line they can use for multiple visits
• Support for autopay and structured monthly payments
• Partnerships with over 250,000 medical, dental, vet, and specialty providers
• Credit reporting
• Fees for late payment

Synchrony also offers Synchrony Pay Later, a shorter-term BNPL tool with fixed installment payments, though it is not as widely adopted in healthcare as CareCredit.

There are no annual fees — but late fees, promotional terms, and interest rates vary depending on several factors like loan amount, the promotional program, and whether the patient misses payments.

Because it’s a traditional credit card, CareCredit tends to appeal to patients who already manage credit accounts and want ongoing access to financing as part of their broader personal finance strategy.

How Affirm Works for Healthcare

Affirm is known for powering checkout experiences across major retailers — including Amazon, Walmart, Target, and Apple — and has increasingly moved into healthcare. Many practices adopt Affirm because it feels modern, transparent, and easy for patients to understand.

With Affirm, patients can apply and get immediate decisions right at checkout. Loans go as high as $17,500 and terms as long as 36 months. Though these terms make it less ideal for larger purchases and bundled procedures, it’s a great option for smaller treatments and add-ons. Longer-term loans carry interest, but its Pay in 4 option is always interest-free — and that’s true interest-free financing — not the deferred interest promotional financing offered by CareCredit.

What’s more, Affirm never uses a hard credit check to evaluate a potential borrower. That means patients who use it don’t have to worry about their credit score being affected during the application process, or when they accept an Affirm loan. However, Affirm does report to credit bureaus like Experian, so late payments during the loan term can affect their score.

Key Features

Affirm’s financing includes:

• Pay in 4 (short-term, interest-free payments)
• Interest-bearing installment loans with terms up to 36 months
• No hidden fees and no late fees
• Acceptance of debit card, credit card, and bank account payments
• Compatibility with Apple Pay and other digital wallets
• A down payment in some cases
• Credit reporting for some longer-term loans, but not always Pay in 4
• Seamless online or in-store checkout integrations

Affirm is attractive for patients who want clear terms, no surprises, and simple payment options. It’s especially popular among younger consumers who already use BNPL services like Klarna and prefer alternatives to traditional revolving credit.

Synchrony vs Affirm: Side-by-Side Snapshot

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Synchrony vs Affirm: Key Differences for Healthcare Practices

1. Product Type

Synchrony’s healthcare offering, centered around CareCredit, functions like a traditional credit card — it’s a revolving credit line with optional promotional financing. Affirm operates entirely as a BNPL provider, offering fixed installment loans tied to a single purchase. This means Synchrony supports ongoing use for future visits, while Affirm provides one-time, predictable repayment plans without revolving credit.

2. Credit Approval & Eligibility

Synchrony relies on traditional underwriting through Synchrony Bank, which includes a hard credit check and a deeper review of the patient’s credit history. Affirm, by contrast, uses only soft credit checks, even when a loan is finalized, making its approval process less intimidating and often more accessible for patients with limited or developing credit profiles.

3. Interest Rates & Terms

Synchrony offers a mix of deferred interest promotions and reduced-APR long-term options, which can be valuable for patients financing larger purchases, but require clear communication to avoid misunderstanding around deferred interest.

Affirm focuses on transparent pricing, showing exact interest rates, loan terms, and monthly payments upfront, and frequently offers interest-free payments for Pay in 4 purchases. That transparency appeals to patients who prefer clarity over promotional structures.

4. Payment Experience

Synchrony gives patients a reusable line of credit they can tap into for multiple treatments, supporting practices with recurring care models such as dental, vision, and vet. Affirm offers a streamlined, modern checkout experience with fixed installments, digital wallet compatibility, and no late fees, which works well for practices looking for simple, mobile-friendly financing that mirrors e-commerce behavior.

5. Patient Demographics

Synchrony tends to align with patients who are comfortable managing a credit card as part of their broader personal finance routines and who may anticipate ongoing healthcare spending. Affirm’s model resonates more with BNPL-first consumers who want predictable costs, minimal friction, and the reassurance of no hard credit checks or compounding interest, making it especially popular with younger patients and those new to credit.

Synchrony vs Affirm: Key Differences for Patients

When patients compare Synchrony and Affirm, their priorities usually center around clarity, cost, and how financing fits into their everyday spending habits. Some patients want predictable installment payments with no surprises, while others appreciate having a revolving credit line they can use for ongoing healthcare needs. Understanding how each option feels from the patient’s perspective helps practices guide people toward the financing experience that best supports treatment acceptance.

When Synchrony is a Better Fit

Synchrony, through CareCredit, works best for patients who want a reusable credit card they can apply to multiple visits and recurring treatment plans. These patients are often comfortable managing credit as part of their personal finance routines and may benefit from structured long-term APR programs. Synchrony’s deferred interest promotions can be appealing when used correctly, especially for patients financing larger procedures who need extended repayment horizons.

When Affirm is a Better Fit

Affirm tends to resonate with patients who prefer simple, transparent pricing and want to avoid the complexities of revolving credit. Because Affirm never uses a hard credit check and provides clear, upfront payment schedules, it’s especially attractive to BNPL-first consumers and younger patients already familiar with using Affirm at major retailers like Amazon. The absence of late fees and hidden fees reinforces trust and makes the payment experience feel more predictable.

Ultimately, patients choose between Synchrony and Affirm based on the kind of financial experience they’re most comfortable with. Those looking for long-term financing and repeated healthcare use may gravitate toward Synchrony, while patients who value transparency and simplicity often prefer Affirm’s BNPL structure. By offering both, practices can accommodate a wider range of financial comfort levels and empower more patients to move forward with the care they need.

Which Option is Better for Your Practice?

Both lenders offer strong paths to help patients pay for the care they need.

Use Synchrony if you want:

• A well-known healthcare credit product with over 250,000 participating providers
• Longer-term financing for bigger treatment plans
• Reusable credit that supports repeat care

Use Affirm if you want:

• A modern, simple BNPL experience
• Predictable, no-fee installment structures
• An easy checkout experience that patients already recognize

Some practices offer both, maximizing patient eligibility and offering the most flexible financing at checkout.

Practice FAQs

What services can Synchrony and Affirm be used for?

Synchrony, through CareCredit, is widely accepted across medical, dental, vision, veterinary, cosmetic, chiropractic, audiology, and other wellness-related specialties. Because CareCredit is designed specifically for healthcare spending, most practices that join the network can offer financing for both essential and elective procedures.

Affirm is more flexible in terms of industry use, and while it originated in retail, more healthcare providers now offer it for dental treatments, dermatology, med spa services, vision care, physical therapy, cosmetic surgery, veterinary services, and other out-of-pocket procedures. In most cases, if a service isn’t covered by insurance and your practice wants to offer payment options, both Synchrony and Affirm can be integrated to support that treatment.

Do my patients need good credit to apply?

Synchrony relies on traditional underwriting through Synchrony Bank, so patients generally need stronger credit profiles to qualify, and approval depends on their credit history and overall financial standing. Affirm, by contrast, uses only soft credit checks and considers alternative data, making it more accessible for patients with limited or developing credit. That means patients who are declined by Synchrony may still qualify for Affirm.

Does applying for Affirm or Synchrony impact my patients’ credit score?

Affirm uses a soft credit check for both prequalification and loan acceptance, so applying does not impact a patient’s credit score. Synchrony, however, performs a hard credit check when patients apply for CareCredit, which is reflected on their credit report and can temporarily affect their score. Regardless of the lender, missed or late payments may still influence credit depending on reporting policies.

What is deferred interest and how does it work?

Deferred interest is a financing promotion offered by Synchrony where patients can avoid paying interest if they pay off the full purchase amount within the promo period — commonly 6, 12, 18, or 24 months. If they don’t pay the entire balance by the deadline, or if they miss a single payment, interest accrues retroactively from the purchase date at the full standard APR. Affirm does not use deferred interest; it always shows exact costs upfront.

How soon can borrowers use their funds?

With Synchrony, approved patients can typically use their CareCredit line immediately upon approval, both in-store and online. Similarly, Affirm borrowers can use their financing right away during checkout — whether they apply through your practice’s payment link or through an integrated point-of-sale BNPL flow. In both cases, there’s no waiting period once the patient is approved.

When does our practice get paid?

Both Synchrony and Affirm pay practices upfront, usually within one to two business days, although exact timing varies by processor and integration. Your practice receives the full authorized amount (minus provider fees) right away, while the patient repays the lender over time. This protects your cash flow and eliminates the need to manage payment plans internally.

What payment methods can patients use with BNPL services?

BNPL services like Affirm accept a variety of payment methods, including debit cards, credit cards, and direct payments from a bank account. Many patients also use digital wallets such as Apple Pay. This flexibility lets them choose whatever is most convenient when making their installment payments.

Why should we offer financing?

Offering financing helps remove financial barriers that often prevent patients from moving forward with care. Flexible payment plans increase treatment acceptance, support patients who don’t have available credit or savings, and make it easier for them to manage costs as part of their overall personal finance strategy. Practices that offer both Synchrony and Affirm tend to improve accessibility, build trust, and maintain stronger, more predictable revenue.

Cherry Payment Plans: BNPL Built for Healthcare

Synchrony and Affirm each bring something valuable to the table: Synchrony offers a long-established revolving credit card with broad healthcare acceptance and promotional financing, while Affirm delivers a modern BNPL experience built around transparency, fixed installment plans, and soft-check accessibility. The right choice depends on your patient population and the type of financing experience you want to provide.

But for practices that want faster approvals, fewer barriers, and flexible payment options without the complexity of traditional credit cards or deferred interest structures, Cherry offers a more intuitive, patient-friendly solution.

Starting with a 60-second application that doesn’t hurt credit score, Cherry instantly approves over 80% of borrowers across credit profiles for loans up to $50,000. Qualified borrowers can access short-term interest-free Pay in 4 plans, or longer-term options up to 60 months with true qualifying 0% APR (no deferred interest).

For practices, Cherry supports cash flow with upfront payment and the lowest merchant fees in the industry, and encourages practice loyalty with exclusive approvals. Find out why more than 50,000 healthcare providers choose Cherry. Claim your personalized demo here.