What happens if I miss a payment on my CareCredit account?

If a payment is missed on a CareCredit account, several consequences may occur. First and foremost, CareCredit typically imposes a late fee on the account for any payment that is not made by the due date. The exact amount of this fee can vary based on the terms and conditions that the account holder agreed to when opening their account. In addition to the late fee, missing a payment may negatively impact the account holder's credit score. Timely payments are a significant factor in determining credit scores, and a missed payment could result in a decrease in creditworthiness. Furthermore, if a payment is missed, CareCredit may also report the delinquency to credit bureaus after a certain period of time, which could have long-term effects on the account holder's credit history. In this situation, it is advisable for the account holder to pay the missed payment as soon as possible to minimize any repercussions. In cases where an account holder anticipates difficulty in making future payments, it may be beneficial to review the options available for managing their account. It may also be worthwhile to regularly check the CareCredit website for any updates regarding payment policies, fees, and available resources. The account holder can refer to their account terms or the CareCredit website for more detailed information on handling missed payments, including options that may be available to them.