You’ve decided it’s time to look into a mobility scooter or power wheelchair. Aside from what model you’re going to get, you’re probably wondering about cost. There are many options when it comes to financing a mobility device.
For those paying out of pocket, dealers accept cash and credit cards, and there is another financing option: CareCredit.
What is CareCredit?
CareCredit is a credit card that allows you to pay for medical equipment and services over time. This is a health care specific line of credit that can be used to cover medical devices, your deductible or treatments not covered by insurance.
CareCredit can be used for a wide range of health and wellness purchases from dental care and gym memberships to weight loss surgery and sleep studies. Medical devices include mobility products as well as CPAP machines, mobility beds and stairlifts, among others.
CareCredit is owned by Synchrony, one of the largest providers of private label credit cards in the U.S. CareCredit is similar to private label retail store credit cards in that it can only be used for specific purchases. It is not part of the Mastercard and Visa networks that traditional credit and debit cards use.
The CareCredit card is currently accepted by more than 200,000 healthcare providers. To use CareCredit, first you’ll need a credit approval. There are also minimum monthly payments required. You may be eligible for special promotional financing options.
What Mobility Products are Eligible for CareCredit?
In short, you can use your CareCredit card for any mobility devices or accessories you need. Peruse our power wheelchair, power lift recliner and mobility scooter pages. We offer FDA Class II Medical Devices designed to aid individuals with mobility impairments as well as mobility devices that are not classified by the FDA. This distinction doesn’t matter for CareCredit, but it will affect Medicare or insurance approvals.
If approved for a CareCredit card, you can also use it for accessories. Customize your device with small upgrades that will make life a little easier. You can add a cup holder to your wheelchair or a cane holder to your scooter.
Replacement batteries and upgraded lithium-ion batteries can also be purchased with CareCredit. Lithium-ion batteries are available for some scooters and electric wheelchairs as well as backup power for the lift chair recliners when the power goes out..
What kind of interest will I pay?
Time for a quick disclaimer on credit.
Like any credit card, expect to pay double-digit interest unless you pay your balances down fast. We offer CareCredit with no-interest periods of 6 months, but after that, the interest rate jumps to almost 27% APR.
All that said — CareCredit gives you the ability to pay an affordable amount monthly that is within your budget - instead of thousands of dollars all upfront, in order to get your mobility device.
