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PatientFi vs. CareCredit vs. Cherry

PatientFi vs. CareCredit vs. Cherry

Three popular ways to pay for elective care over time, side by side: how each one works, what “0%” really means, credit checks and rates.

Fact-checked Oct 11, 2026 11 min read Sources listed

PatientFi

Installment loan per treatment

Credit check: Soft to see offers
0% promos: Paid in full or interest kept
Fixed APR: From 6.99%*
Reusable: No new loan each time

Best for one bigger treatment with a fixed monthly payment.

CareCredit

Health credit card

Credit check: Soft, then hard
0% promos: Deferred interest
Fixed APR: 17.90%–20.90%
Reusable: Yes across its network

Best for repeat care at many providers, paid off on time.

Cherry

Pay-over-time plans

Credit check: Soft per Cherry
0% promos: True 0% per Cherry
APR range: 0%–35.99%
Reusable: Per purchase

Best for avoiding back-interest risk, if your clinic offers it.

* PatientFi’s lowest advertised rate needs excellent credit and autopay (3.99% for fertility). Cherry figures are Cherry’s own stated terms.

60-second check

Which one fits you?

Answer three questions. The best option is always one your clinic actually offers, so check with them too.

Your likely fitAn installment loan like PatientFi

Fixed payments and an end date for one treatment, with a soft check to see offers.

A simple guide, not financial advice. Compare the actual offers, APRs and terms you’re shown before you accept.

The full comparison

Terms as published by each company. Always confirm the offer your clinic shows you.

Feature	PatientFi	CareCredit	Cherry
The basics
What it is	A separate loan for each treatment, made by partner banks and serviced by PatientFi	A credit card issued by Synchrony Bank with a reusable credit line	A financing platform; says it is not a bank or lender
Where it works	Participating PatientFi practices	Providers and retailers in the CareCredit network	Participating Cherry practices
Amounts	About $200–$50,000	Credit limit set at approval	$35–$65,000
Reuse it	No New loan for each treatment	Yes Revolving line in the network	Per purchase Each plan set up at checkout
Credit check
To see or apply	Soft To see your offer; no score impact	Soft, then hard Prequalifying is soft; applying triggers a hard inquiry	Soft Cherry says “no hard credit check ever”
Interest and rates
0% promo type	Paid in full Interest charged during the promo, waived only if paid in full on time	Deferred interest Accrues from the purchase date and is charged if not paid in full	True 0% Cherry says its 0% plans have no deferred interest
Promo lengths	3, 6, 9, 12, 18 or 24 months in its disclosures	6, 12, 18 or 24 months on purchases of $200+	Varies by plan; terms of 1–60 months
Fixed-rate plans	APRs from 6.99% (3.99% fertility) with excellent credit and autopay	Reduced APR 17.90%–20.90% over 24–60 months, on $1,000+ ($2,500+ for 60)	APR 0%–35.99% over up to 60 months
Standard / max APR	Disclosure examples use 32.99% for post-promo balances	32.99% purchase APR for new accounts	Up to 35.99%
Fees and upfront costs
Fees	No application fee or prepayment penalty	No annual fee	No setup, annual or prepayment fees, per Cherry
Down payment	Usually none; some providers or approvals may require one	None required by the card	First installment due at checkout

Sources: PatientFi How It Works and Disclosures; CareCredit FAQs, prequalification and apply pages; Cherry’s “Cherry vs CareCredit” page. Checked October 11, 2026.

The big difference

Three kinds of “0%”

They all cost nothing if you pay in full on time. What separates them is what happens when you don’t.

CareCredit

Deferred interest

Interest is tracked from the purchase date. Pay in full by the deadline and you owe none; miss it and all of that interest is charged.

PatientFi

Waived if paid in full

Interest is charged during the promo and waived only if you clear the balance in time. If not, it stays and the rest moves to your fixed APR.

Cherry

True 0%

Cherry says its 0% plans have no interest at all, even if you finish late. Late fees can still apply.

20%

of deferred-interest health care purchases ended up charged interest, and 34% for credit scores below 619, according to the CFPB’s 2023 report.

Cost example

$6,000 over 36 months

What a fixed 36-month plan could cost at each company’s published rates. The light part of each bar is the $6,000 treatment; the bright part is interest.

Cherry, lowest stated0% APR · $166.67/mo

$6,000no interest

PatientFi, lowest advertised6.99% APR · $185.24/mo

$6,668+$668 interest

CareCredit reduced APR18.90% APR · $220.00/mo

$7,920+$1,920 interest

Cherry, highest stated35.99% APR · $274.79/mo

$9,892+$3,892 interest

See the numbers as a table

Plan	Monthly	Total paid	Interest
PatientFi, lowest advertised 6.99% APR, excellent credit and autopay	$185.24	$6,668.47	$668.47
CareCredit reduced APR plan 18.90% APR, 36 months, $1,000+ purchases	$220.00	$7,920.00	$1,920.00
Cherry, lowest stated 0% APR	$166.67	$6,000.00	$0.00
Cherry, highest stated 35.99% APR	$274.79	$9,892.39	$3,892.39

PatientFi and Cherry use a standard amortization formula. CareCredit uses its published fixed payment factor of 3.6605% of the purchase, rounded up to the next dollar.

Pros and cons, at a glance

PatientFi

Soft check to see offers
Fixed payments, no prepayment penalty
Spouse or parent can apply

Promo interest kept if not paid in full
New loan for each treatment
Only at participating practices

CareCredit

Reusable across a large network
No annual fee
Reduced-APR fixed plans available

Deferred interest on promo plans
Hard inquiry when you apply
32.99% standard purchase APR

Cherry

No deferred interest, per Cherry
Soft check only, per Cherry
Small amounts from $35

First installment due at checkout
APRs up to 35.99%
Only at participating practices

FAQ

Comparison: FAQ

Is PatientFi better than CareCredit?

It depends on your situation. PatientFi gives you a separate installment loan for each treatment and uses a soft check to show offers. CareCredit is a reusable health credit card that works across a large network but uses deferred interest on its promotional plans.

Does CareCredit do a hard credit check?

CareCredit says prequalifying uses a soft inquiry with no impact on your credit score, but applying after prequalification triggers a hard inquiry.

What is CareCredit's APR?

CareCredit lists a 32.99% purchase APR for new accounts, and reduced-APR fixed-payment plans of 17.90% to 20.90% over 24 to 60 months on qualifying purchases.

Does Cherry charge deferred interest?

Cherry says its 0% APR plans aren't based on deferred interest and that it charges no deferred, retroactive or compounding interest. Its stated APRs range from 0% to 35.99%.

Which option has the lowest rate?

It varies by credit. PatientFi advertises fixed APRs from 6.99% for excellent credit with autopay, CareCredit's reduced-APR plans start at 17.90%, and Cherry states a 0% to 35.99% range.

Can I use PatientFi at any doctor?

No. PatientFi only works at participating practices. CareCredit works across its network, and Cherry works at participating Cherry practices.

Keep reading

Promo plans explainedMinimum vs. suggested payments, deadlines and examples.Payment calculatorEstimate promo and fixed-rate payments.How PatientFi worksApplication, approval and repayment, step by step.

Sources

Every figure links to where it came from. Fact-checked October 11, 2026.

Independent guide, not affiliated with PatientFi, Inc. Not financial or legal advice; your loan agreement is the final word.