Does Walgreens Take CareCredit In 2024? (Full Guide)
With healthcare costs on the rise, you may be wondering if Walgreens accepts CareCredit, a specialized credit card for medical expenses. In this comprehensive guide, I‘ll explain everything you need to know about using CareCredit at Walgreens.
An Overview of Walgreens
As of February 2023, Walgreens operates over 9,100 pharmacy locations across all 50 U.S. states, Puerto Rico, and the U.S. Virgin Islands. This makes Walgreens the second-largest pharmacy chain in the United States, behind CVS.
In addition, Walgreens owns and operates major pharmacy retailer Duane Reade, which has over 250 locations primarily in New York and accepts CareCredit at all stores.
What is CareCredit?
CareCredit is a credit card specifically designed for healthcare and veterinary expenses. According to CareCredit.com, over 250,000 enrolled providers and retailers accept the card nationwide, including Walgreens.
The key benefits of CareCredit include:
| Benefit | Description |
|---|---|
| Special financing options | CareCredit offers no-interest payment plans from 6 to 24 months. For larger expenses, extended plans from 24-60 months have a fixed lower APR. |
| Wide coverage | CareCredit can be used for services like dental, vision, veterinary care, surgeries, hearing aids, and more. |
| Large network | Accepted at over 250,000 providers across health, wellness, and personal care. |
| Credit line | Credit limits from $1,000 to $25,000 based on applicant‘s credit score. |
This allows patients to pay for medical care and products not fully covered by health insurance. Given rising healthcare costs and changes in insurance coverage, CareCredit has become an increasingly popular payment method.
Why CareCredit is Needed Today
According to the CMS, U.S. healthcare spending reached $4.3 trillion in 2021, an increase of 9.7% from 2020. At the same time, insurers have shifted towards plans with higher deductibles and copays.
In 2022, the average health insurance deductible was $1,834 for individual coverage, up from just $303 in 2006. For families, deductibles reached $3,655 in 2022.
This means patients now pay thousands per year out-of-pocket before insurance kicks in. As a result, CareCredit has surged in popularity by offering 0% financing for managing healthcare expenses not fully covered by insurance.
What You Can Buy With CareCredit at Walgreens
At Walgreens locations, CareCredit can be used to pay for:
- Prescription medications
- Over-the-counter medications
- Contact lenses
- Eye exams at Walgreens Optical
- Vaccines and flu shots
- X-ray prints and diagnostic testing
However, CareCredit cannot be used for:
- Online or app purchases
- Gift cards
- Alcohol
- Tobacco
- Lottery tickets
CareCredit is only accepted for in-store purchases at Walgreens. There are no spending limits, provided you have available credit.
The Pros of Using CareCredit at Walgreens
There are several advantages to paying with CareCredit at Walgreens:
Specialized financing – CareCredit offers 6-24 month no interest plans, allowing you to pay off large medical expenses or unexpected costs over time. This can be especially helpful if you have a high insurance deductible.
Wide product eligibility – Nearly anything available in-store is eligible, including prescriptions, OTC medications, contacts, eye exams, vaccines, and testing services. The only exceptions are gift cards, alcohol, tobacco, and lottery tickets.
Easy online account management – You can manage your account fully online, with options like paperless statements and online payments.
Large retail network – In addition to Walgreens, CareCredit is accepted at major chains like Rite Aid, Walmart, Best Buy, and 1-800 Contacts.
Potential Downsides to CareCredit
While CareCredit has many benefits, there are some drawbacks to consider:
Credit check required – Applying for CareCredit involves a credit check, which can negatively impact your score if too many checks are done in a short period.
High APR after promotional period – The 0% APR is only for 6-24 months. After that, remaining balances incur a 26.99% variable APR, which is quite high.
Can only be used in-store – CareCredit cannot be used for Walgreens online orders or in-app purchases. You must make in-person purchases to use your card.
Easy to overspend – The special financing can lead some consumers to overspend and accumulate credit card debt.
Conclusion
In summary, Walgreens accepts CareCredit at all pharmacy locations nationwide. While not usable online or for gift cards/lottery tickets, it provides a flexible option for financing prescriptions, exams, vaccines, and other health-related purchases in-store. Consider both the pros and cons before applying.
