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Increase in Interest Rate: The interest rate for purchases occurring
on or after the effective date will increase from 29.99% to 32.99%. |
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Changes to Interest Calculation: If the cardholder did not pay
their balance in full in the prior billing cycle: |
| • |
Interest will be calculated on their balance from the first day of the
current billing cycle until CareCredit receives their payment in full,
even if they pay their balance in full and on time and make no new
charges in the current billing cycle. |
| • |
This interest, plus interest on that interest, will be reflected on their
next billing statement. |
|
 |
Paper Statement Fee (“PSF”): CareCredit will charge a $1.99
monthly Paper Statement Fee in any billing cycle in which the
account balance is greater than $2.50, and the cardholder is sent a
monthly billing statement in paper form. |
| • |
Cardholders who wish to avoid the Paper Statement Fee may sign up
for online access and then elect to receive their statements only in
electronic form. Synchrony will send cardholders directions on how
to sign up for eBill. |
|
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Penalty Pricing: A Penalty APR may be applied to cardholders if
CareCredit does not receive the total minimum payment due on their
account by the payment due date two or more times during any 12
consecutive billing cycles.
|
| Once the Penalty APR is in effect, the daily rates and APRs will increase
and may apply to all new transactions. After CareCredit applies the
Penalty APR, CareCredit will review the cardholder account from time
to time to see if a reduction in APR is appropriate. |
 |
Returned Payment Fee (“RPF”): CareCredit will charge a $30
returned payment fee the first time a payment (made in any form) is not
honored, is returned unpaid or cannot be processed. The second
returned payment within 6 months will result in a $41 fee. |
