Does Target Accept Care Credit in 2024? (Full Guide)

With healthcare costs continuing to rise, Americans are looking for ways to pay for medical expenses without breaking the bank. One option is CareCredit – a special line of credit specifically for health and wellness purchases. But does Target accept this increasingly popular medical credit card?

What is CareCredit and Who Offers It?

CareCredit, established in 1993, is a credit card that can only be used for healthcare and wellness expenses. It is offered through GE Capital Bank and Synchrony Bank. Over 225,000 healthcare practices and retailers accept CareCredit nationwide.

According to a 2021 CareCredit survey, the card is used by over 10 million cardholders to help finance both planned and unexpected medical costs. Usage increased during the COVID-19 pandemic, with 87% of cardholders citing CareCredit as critical for managing healthcare expenses.

The Pros and Cons of CareCredit

CareCredit offers 0% intro APR financing for 6-24 months on qualified purchases over $200, making it attractive for larger health bills. It also has predictable monthly payments and can be used repeatedly for ongoing expenses.

However, CareCredit also has deferred interest – if a purchase is not fully paid off by the promo period end date, you must pay interest retroactively on the entire original purchase amount. This can result in expensive finance charges very quickly. The regular variable APR is also quite high, currently 26.99% to 29.99% based on creditworthiness.

How Target‘s Payment Policy Compares to Other Major Retailers

Target has a very wide selection of health and personal care items, from over-the-counter medications to skin care products. However, it does not accept CareCredit in any of its 1,900+ stores nationwide or on Target.com.

This contrasts with Walmart and Sam‘s Club (both owned by Walmart Inc.), which do take CareCredit for qualifying purchases. As major competitors, Target and Walmart have very different payment acceptance policies:

What Does This Mean for Target Shoppers?

Unfortunately for loyal Target fans, CareCredit cannot be used to purchase anything at Target locations currently. Even health-related items are excluded from CareCredit financing.

This limits the payment options for Target shoppers seeking specialty health products. The RedCard and major credit cards remain the best tender types for any Target run. CareCredit is only an option at doctor‘s offices, dental clinics, and retailers like Walmart with explicit acceptance policies.

The Future Outlook

Given the competitive landscape, it seems unlikely Target will adopt CareCredit financing in the near future. They have not indicated any partnership plans with Synchrony or intention to open up new specialized credit lines.

Target also offers its own RedCard credit card with benefits like 5% discounts, so CareCredit may be viewed as unnecessary. Unless more major retailers begin accepting it, Target will probably maintain status quo.

In summary, Target does not accept CareCredit based on its current payment policies. Shoppers need to plan alternate payment methods for health purchases there. But CareCredit remains a viable option for large medical bills with special financing terms at healthcare providers and select retailers.