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Cherry vs CareCredit

How does Cherry Payment Plans compare with CareCredit?

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Cherry

PatientFi

Why This Matters

Practice Fees

Lowest merchant processing fees in the industry, without relying on rebates or required minimums

Rebate is only for the fees, not the transaction amount

PatientFi's rebate is only for the fees, not the transaction amount, which means the rebate is much smaller than it sounds. Cherry's low rate is transparent and guaranteed upfront.

Approvals

More patients approved for higher amounts (up to $50,000), with approvals exclusive to your practice

Approvals a narrower range of credit profiles

Being able to approve more patients - and for higher amounts - means more revenue for your practice.

0% APR

True 0% APR.

No hidden fees such as deferred, retroactive or compounding interest.

Deferred 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.

User Data

Does not sell your data

Sells your data to credit unions

Borrowers receive unsolicated phone calls from credit unions. Who likes telemarketing?

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