How does Cherry Payment Plans compare with CareCredit?
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Cherry
CareCredit
Why This Matters
Practice Fees
✅ 70% lower, with fees as low as 1.7%
❌ Starts from 5.9%
Lower merchant fees mean you keep more profit on every transaction.
Approvals
✅ Up to $50,000 exclusive to your practice
✅ ~94% approval rate
❌ Up to $25,000 - not exclusive to your practice
❌ ~64% approval rate
Higher approval rates and amounts mean consumers can afford more services, specifically with you.
0% APR
✅ True 0% APR
✅ No hidden fees such as deferred, retroactive or compounding interest.
❌ Deferred interest
Deferred interest means if the borrower is late or missed a single payment during the 0% promotional period, interest is retroactively charged from the start of the loan. The Consumer Financial Protection Bureau considers deferred interest to be predatory and anti-consumer.
Consumer Application Time
✅ 60 seconds or less
❌ Minutes
Having a fast, simple application means your consumer can move through checkout quicker, boosting your conversion rate.
Cherry
CareCredit
Why This Matters
Practice Fees
✅ 70% lower, with fees as low as 1.7%
❌ Starts from 5.9%
Lower merchant fees mean you keep more profit on every transaction.
Approvals
✅ Up to $50,000
✅ ~94% approval rate
❌ Up to $25,000
❌ ~64% approval rate
❌ Deferred interest
Higher approval rates and amounts mean consumers can afford more services, specifically with you.
0% APR
True 0% APR.
No hidden fees such as deferred, retroactive or compounding interest.
Deferred interest means that if the borrower is late or missed a single payment during the 0% promotional period, interest is retroactively charged from the start of the loan. The Consumer Financial Protection Bureau considers deferred interest to be predatory and anti-consumer.
Consumer Application Time
✅ 60 seconds or less
Minutes
Having a fast, simple application means your consumer can move through checkout quicker, boosting your conversion rate.
Practice Fees
Cherry
✅ 70% lower, with fees as low as 1.7%
CareCredit
❌ Starts from 5.9%
Why This Matters
Lower merchant fees mean you keep more profit on every transaction.
Approvals
Cherry
✅ Up to $50,000
✅ ~94% approval rate
CareCredit
❌ Up to $25,000
❌ ~64% approval rate
Why This Matters
Higher approval rates and amounts mean consumers can afford more services, specifically with you.
0% APR
Cherry
✅ True 0% APR
✅ No hidden fees such as deferred, retroactive or compounding interest.
CareCredit
❌ Deferred interest
Why This Matters
Deferred interest means that if the borrower is late or missed a single payment during the 0% promotional period, interest is retroactively charged from the start of the loan. The Consumer Financial Protection Bureau considers deferred interest to be predatory and anti-consumer.
Consumer Application Time
Cherry
✅ 60 seconds or less
CareCredit
❌ Minutes
Why This Matters
Having a fast, simple application means your consumer can move through checkout quicker, boosting your conversion rate.
Most Loved Medical Payment Plan in America
"Cherry has made it extremely easy for us and our patients to apply. We have had a great turn around for treatment acceptance from our patients who have been approved for Cherry's financing." - Family Dentistry of Jensen
