Best Dental Financing Companies for Patients: Loans, Cards, and Payment Plans

The high cost of dental care is a significant barrier for many, often leading to the delay or avoidance of essential treatments like root canals, crowns, or implants. When faced with an unexpected and expensive treatment plan, the financial stress can be overwhelming. Fortunately, a growing number of dental financing companies for patients offer solutions to make care more affordable. These options, including dental loans, specialized medical credit cards, and practice-integrated payment plans, provide pathways to manage costs without depleting savings or relying on high-interest credit cards. Evaluating these choices enables patients to proceed with necessary procedures, protecting both their oral and overall health.

Your Primary Dental Financing Choices: A Foundational Overview

The landscape of dental financing can be broken down into four main categories. Understanding these models provides a clear framework for comparing specific companies and products.

Personal Loans: The Flexible Funding Option

Personal loans are a traditional financing method where a bank, credit union, or online lender provides a lump sum of cash directly to the borrower. These are typically unsecured, meaning they don't require collateral. Patients can use these funds for any purpose, including paying their dentist directly for services rendered.

Key characteristics include fixed interest rates, which result in predictable, consistent monthly payments over a set repayment term, often ranging from two to seven years. This option is best suited for patients who need to finance a significant, one-time procedure and prefer the stability of a fixed payment schedule. It also offers the flexibility to choose any dental provider, as the patient receives the cash and pays the dentist themselves.

Medical Credit Cards: Specialized for Healthcare Costs

Medical credit cards are a form of revolving credit designed specifically for out-of-pocket healthcare expenses. These cards are typically offered to patients directly within the dental office and are part of a large network of participating healthcare providers. The most well-known example is CareCredit, which is accepted at over 270,000 locations nationwide.

A primary feature of these cards is the availability of promotional financing, such as deferred interest periods where no interest is charged if the balance is paid in full within a specific timeframe (e.g., 6, 12, or 24 months). This makes them a good option for patients who anticipate ongoing or multiple dental procedures and need a reusable line of credit. However, they are most appropriate for individuals who are confident they can pay off the entire balance before the promotional period ends to avoid incurring high, retroactive interest charges.

Buy Now, Pay Later (BNPL): Splitting Costs at the Point of Service

Buy Now, Pay Later (BNPL) represents a newer, increasingly popular financing model offered at the point of service in the dental office. Companies like Sunbit and Cherry partner with dental practices to allow patients to split the total cost of their treatment into a series of smaller, fixed installment payments.

The application process is typically very fast, often taking less than a minute, and frequently uses a "soft" credit inquiry that does not affect the applicant's credit score. These services are known for high approval rates and transparent payment schedules, which clearly outline the payment amounts and due dates. BNPL is an excellent choice for patients needing immediate financing approval in the dental office, especially those with less-than-perfect credit who want a simple, straightforward payment plan without the potential pitfalls of deferred interest.

In-House Payment Plans: Working Directly with Your Provider

In-house payment plans are direct financial arrangements made between a patient and their dental practice. These plans vary significantly from one office to another. Some may be simple installment plans that break up a large bill over a few months, often interest-free.

Others are structured as comprehensive membership or discount plans, where a patient pays an annual fee in exchange for covered preventive care and significant discounts on other restorative and cosmetic treatments. Because the approval decision is made by the dental office, these plans often do not require a hard credit check and are based more on the patient-provider relationship. This option is ideal for patients who have a trusted, long-standing relationship with their dentist, individuals without dental insurance looking for affordable routine care, or those who may not qualify for other third-party financing options.

A Detailed Comparison of Leading Dental Financing Companies

Choosing a financing company requires a careful review of rates, terms, and eligibility. The following comparison is structured to help patients identify the best options based on their credit profile and financial needs. The rise of financing offered directly within the dental office has increased convenience but also underscores the need for patients to understand the terms before agreeing to a plan. This shift from patients independently seeking loans to point-of-sale financing aims to increase treatment acceptance for providers but can sometimes lead to rushed patient decisions.

Options for Good to Excellent Credit (Credit Score 690+)

Patients with strong credit profiles have access to the most favorable financing terms, including the lowest interest rates and minimal fees, making personal loans from online lenders a particularly attractive option.

SoFi

Financials

SoFi is frequently cited as a top choice for overall dental loans, primarily for borrowers who prioritize avoiding fees. SoFi offers personal loans from $5,000 to $100,000 with Annual Percentage Rates (APRs) ranging from 8.99% to 35.49%. Repayment terms are flexible, spanning from 2 to 7 years, and a key advantage is the absence of late fees and an optional origination fee (0%-7%), which can be paid to potentially secure a lower interest rate.

The Experience

The application process is entirely online and known for being fast, with the possibility of same-day funding. SoFi also provides consumer-centric benefits like unemployment protection. However, its minimum loan amount of $5,000 makes it unsuitable for financing smaller procedures like a single filling or cleaning.

LightStream

Financials

LightStream, a division of Truist Bank, is geared toward borrowers with excellent credit who are financing larger, more expensive dental procedures and want to secure the lowest possible interest rates. With autopay, APRs can be as low as 6.49% and go up to 25.29%, with loan amounts from $5,000 to $100,000. LightStream stands out for having no origination fees, late fees, or prepayment penalties.

The Experience

A significant drawback is the lack of a pre-qualification option that uses a soft credit pull. To see personalized rates, a prospective borrower must submit a formal application, which results in a hard credit inquiry that can temporarily lower a credit score. This can be a major deterrent for consumers who wish to compare multiple loan offers. Eligibility requirements are also stringent, favoring applicants with a long and diverse credit history, and data suggests only those with very strong credit should apply.

LendingClub

Financials

LendingClub offers a versatile solution, functioning as both a traditional personal loan marketplace and a provider-integrated financing service (LendingClub Patient Solutions). Personal loans range from $1,000 to $50,000 with APRs between 7.90% and 35.99%, though a notable cost is the origination fee of 3% to 8%. The LendingClub Patient Solutions arm offers plans directly through dental offices with terms from 6 to 84 months and may include 0% APR promotional financing.

The Experience

LendingClub allows applicants to check their rate through a soft credit inquiry, which does not impact their credit score. This feature removes a key barrier for consumers, allowing them to shop for rates without risk.

Options for Fair to Bad Credit (Credit Score Below 690)

Patients with challenged credit historically had few options, but the financing market has evolved to provide more solutions. Some modern lenders now approve up to 85% of applicants, specifically targeting this demographic.

Upgrade

Financials

Upgrade is a prominent online lender that specializes in personal loans for borrowers with bad credit, accepting scores as low as 580. Loans are available from $1,000 to $50,000, with APRs ranging from 7.99% to 35.99%. The most significant drawback is the high origination fee, which ranges from 1.85% to 9.99% and is deducted from the loan proceeds.

The Experience

Upgrade offers several consumer-friendly features, such as rate discounts and the option to have funds paid directly to creditors for debt consolidation purposes. While it provides a crucial access point to credit, borrowers should be cautious, as the APR for those with poor credit will likely be at the high end of the range, making the loan very expensive over time.

Sunbit

Financials

Sunbit is a BNPL provider that has become a common fixture in dental offices, offering instant financing with a very high likelihood of approval. It offers financing for amounts between $50 and $20,000, with APRs from 0% to 35.99%. A down payment is required at the time of the transaction, but Sunbit does not charge any origination fees, late fees, or prepayment penalties.

The Experience

Sunbit's primary appeal is its accessibility, boasting a 90% approval rate and using a soft credit check for its lightning-fast application. However, this convenience is contrasted by numerous negative customer reviews. Complaints frequently cite poor customer service, persistent problems with payment processing, and extreme difficulty in obtaining refunds for treatments that were canceled or never performed, a critical consideration for any potential borrower.

Avant

Financials

Avant serves as another important option for borrowers with bad or fair credit who need to finance smaller dental costs. Loan amounts range from $2,000 to $35,000. A significant cost to consider is the administration fee, which can be as high as 9.99% of the loan amount.

The Experience

Avant provides a necessary service for a credit-challenged demographic and is one of the few lenders to offer shorter loan terms, such as 24 months. This makes it a good choice for those who want to pay off their dental debt quickly. However, the high fees can add a substantial amount to the overall cost of borrowing.

Specialized Medical Financiers: A Closer Look

This group includes companies that are not traditional banks but are exclusively focused on financing healthcare procedures. Their products are often deeply integrated into the administrative workflow of dental practices.

CareCredit

Financials

Endorsed by the American Dental Association, CareCredit is the most established and widely accepted medical credit card in the United States. Its main attraction is its promotional financing, which includes 0% APR plans for periods of 6 to 24 months on purchases of $200 or more. If the promotional balance is not paid in full by the deadline, a very high standard variable APR of 26.99% or more is applied.

The Experience

The most significant risk associated with CareCredit is deferred interest. This means if even one dollar of the promotional balance remains unpaid after the period ends, interest is retroactively charged on the entire original amount from the date of purchase. This feature is a common source of consumer distress and has led to numerous complaints. Reports indicate that the in-office application process can be confusing, with some patients not fully understanding they are applying for a high-interest credit card with this punitive deferred interest clause.

Cherry

Financials

Cherry positions itself as a modern, more transparent alternative to traditional medical credit cards, specifically targeting the shortcomings of competitors like CareCredit. It offers financing up to $35,000 with repayment terms from 3 to 60 months. Crucially, it offers true 0% APR plans, not deferred interest promotions.

The Experience

Cherry emphasizes its simple, 60-second application that uses a soft credit check and does not perform a hard inquiry. It boasts an approval rate of over 80% by using a proprietary algorithm that assesses factors beyond a traditional credit score. By eliminating deferred interest, Cherry removes the biggest financial trap associated with medical financing, making it a safer and more predictable option for patients.

Ally Lending

Financials

Ally Lending provides financing solutions exclusively through its network of affiliated healthcare providers. Ally is notably non-transparent with its terms; all details regarding interest rates, loan amounts, and repayment periods are only disclosed after a patient applies through a participating dental office. The company does state that its loans have no origination fees, application fees, or prepayment penalties.

The Experience

The entire financing process is dependent on the dental provider. This lack of transparency makes it impossible for consumers to compare Ally's potential offer against other lenders beforehand. Furthermore, customer reviews for Ally Bank's other lending products are overwhelmingly negative, with widespread complaints about poor customer service, aggressive collection tactics, and significant billing errors, raising serious red flags.

"No Credit Check" and Alternative Approval Lenders

This category serves patients with very poor or no established credit history. It's important to distinguish between "no credit check" financing, which avoids pulling reports from major credit bureaus, and "no credit needed" financing, which uses alternative data like income and employment history for approval.

Denefits & iCare Financial

The Business Model

These companies operate on a different business model. They are not direct lenders to patients but rather payment plan management and collections services that dental practices purchase. They promise providers high approval rates and "protected payments," essentially taking on the risk of patient default.

The Patient Experience

For a patient with no other options, these services can be a lifeline to obtaining necessary care. However, the model is fraught with risk. An investigation of consumer complaints reveals significant problems. Denefits has faced numerous complaints filed with the Better Business Bureau alleging aggressive collection methods, failure to honor contractual obligations like mediation, and poor communication.

Similarly, iCare Financial has complaints regarding improper account withdrawals and poor record-keeping, with some dental providers even complaining that iCare fails to collect from patients or remit the owed funds to the practice. This suggests that while these services provide access to care, the post-treatment financial experience can be fraught with issues for both the patient and the provider. They should be considered a last resort.

Key Financial Concepts Every Patient Must Understand

To confidently navigate the dental financing process, it is essential to understand the terminology and concepts that determine the true cost of borrowing. This knowledge helps in avoiding common financial traps.

The Critical Difference: APR vs. Interest Rate

While often used interchangeably, Annual Percentage Rate (APR) and interest rate are not the same.

• Interest Rate: This is simply the percentage charged for borrowing money.
• APR: This is a broader measure of the cost of a loan. It includes the interest rate plus any mandatory charges or fees, such as an origination fee.

For example, a loan with a 10% interest rate and a 5% origination fee will have a higher APR—and thus be more expensive overall—than a loan with an 11% interest rate and no origination fee. Always compare loans based on their APR to get an accurate picture of the total cost.

The Deferred Interest Warning: How 0% Offers Can Become a Debt Trap

Promotional 0% financing is a powerful marketing tool, but patients must understand the difference between "true 0%" and "deferred interest."

• Deferred Interest: This is a particularly risky type of promotion commonly used by medical credit cards like CareCredit. With this model, interest begins accumulating from the date of the purchase but is "deferred" for a promotional period. If the entire balance is not paid off by the end of that period, the lender can charge the borrower for   all the interest that accrued from day one, even on the parts of the balance that were already paid down. Given the high standard APRs on these cards (often 26.99% or higher), a small remaining balance can trigger hundreds or thousands of dollars in unexpected interest charges.
• True 0% APR: A safer alternative, offered by companies like Cherry, means that no interest accrues during the promotional period. If a balance remains after the period ends, interest will only begin to build on that remaining balance moving forward.

Decoding the Fine Print: Origination, Late, and Prepayment Fees

Beyond the APR, several fees can impact the cost of a loan.

• Origination Fees: This is a fee charged by a lender for processing a new loan application. It is typically deducted from the loan proceeds, meaning the borrower receives less cash than the total loan amount. These fees can be substantial, ranging from 1% to as high as 9.99% with lenders like Upgrade and Avant. Lenders like SoFi and LightStream stand out for having no mandatory origination fees.
• Late Fees: A fee charged if a monthly payment is not made on time. These are standard across most loan products.
• Prepayment Penalties: A fee charged if a borrower pays off their loan ahead of schedule. Most modern online personal loan lenders have eliminated these penalties, which is a significant pro-consumer benefit.

Protecting Your Credit: Soft vs. Hard Inquiries Explained

Applying for credit can impact your credit score, but modern lending practices have made it possible to shop for rates safely.

• Soft Inquiry (or "Soft Pull"): This is a preliminary credit check that does not affect your credit score. Lenders use soft inquiries to pre-qualify you for offers.
• Hard Inquiry (or "Hard Pull"): This occurs when you formally apply for a loan or credit card. A hard inquiry is recorded on your credit report and can temporarily lower your score by a few points.

The best strategy is to use the soft-pull pre-qualification features offered by most lenders (like SoFi, Upgrade, LendingClub, and Cherry) to compare personalized rate offers from multiple sources. Once you have chosen the best offer, you can then proceed with the formal application and the associated hard inquiry.

Exploring Alternatives to Third-Party Financing

Before committing to a loan or credit card, it's wise to explore other ways to pay for dental care, as these alternatives can sometimes be more cost-effective.

Using Tax-Advantaged Funds: Your HSA and FSA

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are powerful tools for managing healthcare costs. These accounts allow you to set aside pre-tax money to pay for qualified medical and dental expenses, effectively lowering your taxable income and reducing the net cost of your care.

Eligibility Rules

The critical rule is that these funds can only be used for treatments deemed medically necessary to prevent or treat a disease. Purely cosmetic procedures are not eligible. For example, a crown needed to restore a broken tooth is eligible, but cosmetic veneers to simply improve a smile's appearance are not. This distinction is vital to avoid tax penalties for improper use of funds.

Partnering with Your Provider: In-House Plans and Membership Discounts

Many dental offices offer direct financial arrangements that bypass third-party lenders. These fall into two main types:

• In-House Payment Plans: The dental office may agree to split a large bill into several monthly payments, often without interest. This is typically offered to patients with whom the practice has an established relationship.
• Dental Membership Plans: A growing alternative to traditional insurance, these plans involve paying a monthly or annual fee directly to the practice. In return, the patient receives preventative care (like cleanings, exams, and x-rays) at no additional cost and a fixed percentage discount (e.g., 15-25%) on all other restorative or cosmetic procedures. This model provides cost predictability and can be highly beneficial for patients without insurance.

Your Local Credit Union: A Community-Based Lending Option

Credit unions are non-profit, member-owned financial institutions that often provide personal loans with more favorable terms than for-profit banks. Because their focus is on serving their members rather than maximizing profits, they may offer lower interest rates and fewer fees. While the application process might be less streamlined than with online lenders and membership may be required, checking with a local credit union is a worthwhile step for anyone seeking a personal loan for dental work.

A Step-by-Step Framework for Choosing the Right Dental Financing

Making a sound financial decision under the stress of a dental health issue requires a methodical approach. Following these steps can help ensure you find the most affordable and appropriate financing solution for your situation.

Step 1: Secure a Detailed Treatment Plan and Cost Estimate

Before exploring any financing, you must know the exact amount you need to cover. Request a detailed, written treatment plan from your dentist that itemizes all procedures and their associated costs. Reputable dental offices will provide this transparency upfront, allowing you to make an informed decision without the surprise of a large bill after treatment is completed.

Step 2: Know Your Credit Score Before You Apply

Your credit score is the single most important factor determining your eligibility and the interest rates you will be offered. Use a free credit monitoring service to check your score before you begin applying for financing. This will allow you to focus your search on the category of lenders most likely to approve you—whether for excellent, fair, or poor credit—saving you time and preventing unnecessary applications.

Step 3: Compare Pre-Qualified Offers from Multiple Sources

Leverage the power of "soft pull" pre-qualification. Without impacting your credit score, you can see potential loan offers from multiple lenders across different categories. A good strategy is to get pre-qualified offers from at least three sources: a personal loan provider (like SoFi or Upgrade), a BNPL service offered at your dentist (like Cherry or Sunbit), and a medical credit card (like CareCredit). This allows you to compare actual APRs, monthly payments, and total loan costs side-by-side.

Step 4: Scrutinize the Loan Agreement Before Committing

This is the final and most critical step. Once you have chosen an offer, you must carefully read the full loan agreement before signing. Pay close attention to the final APR, confirm whether there is an origination fee, and, most importantly, understand the terms of any 0% promotional offer. Never feel pressured to sign a financial agreement in the dental office without taking the time to read and fully comprehend its terms.

Frequently Asked Questions