Dental financing has come a long way from the days when "payment plan" meant an awkward conversation with the front desk. Cherry Financing and CareCredit are two of the most widely used options, and while both can turn a large treatment cost into manageable monthly payments, the way they actually work is different enough that it's worth understanding before you apply.
Cherry Financing
Cherry is an installment loan built specifically for healthcare costs, including dental treatment. It uses a soft credit check to determine your approval amount, meaning checking your eligibility doesn't affect your credit score at all. Approved applicants can qualify for APRs ranging from 0% up to 35.99% depending on their credit profile, and true 0% APR (not a promotional trick) is available for qualified applicants. The application typically takes under 60 seconds, and approved patients can often start treatment the same day.
CareCredit
CareCredit works more like a healthcare-specific credit card. It requires a hard credit check, which can have a small, temporary impact on your credit score. In exchange, it offers promotional 0% interest periods, commonly 6, 12, 18, or 24 months, on qualifying purchases, typically $200 or more. The important catch: CareCredit's promotional financing uses deferred interest, not true 0% APR. If the full balance isn't paid off by the end of the promotional period, interest is charged retroactively on the entire original purchase amount from the date of purchase, not just the remaining balance.
Which One Should You Choose?
- If you want to protect your credit score during the application process, Cherry's soft credit check has zero impact either way
- If you're confident you can pay off the full balance within a specific promotional window and prefer a revolving credit line you might use again for future medical expenses, CareCredit can work well
- If you'd rather have a fixed, predictable monthly payment with no risk of retroactive interest, Cherry's structure is generally the more straightforward option
You Don't Have to Choose Just One
Many dental practices, including ours, accept both, so you can compare your actual approved terms side by side before deciding. Neither option requires dental insurance, and both can be used alongside insurance to cover whatever your plan doesn't.