CareCredit lowers interest rate on payment plan

March 2, 2009
Ophthalmology Times Staff Reports

In a response to the current economic woes plaguing the United States, CareCredit has reduced the interest rate on its 24-month, no-interest plan by 50% through the end of this month, said the company in a prepared statement.

Costa Mesa, CA

-In a response to the current economic woes plaguing the United States, CareCredit has reduced the interest rate on its 24-month, no-interest plan by 50% through the end of this month, said the company in a prepared statement.

This reduction is an attempt by CareCredit to make the plan more affordable for ophthalmologists to offer and promote, according to CareCredit. The plan has been shown to help increase additional LASIK procedures by making monthly payments affordable for patients, CareCredit said. The merchant fee has been reduced by 50%, from 14.9% to 7.5%.

Free promotional materials, such as patient postcards, in-practice displays, and inserts demonstrating monthly payments for patients, are also available to ophthalmologists.

“The economy is impacting practices,” said David Fasoli, president of CareCredit. “To help them attract more patients and schedule more procedures, we took our most popular no-interest payment plan, the 24-month option, and cut the rate by 50%. Now it costs practices very little to offer the 24-month plan so more patients will be able to take advantage of the low monthly payments.”