Transform Your
Healthcare Dreams
into Reality with
Cherry Payment BNPL

Cherry Payment BNPL (Buy Now, Pay Later) is a healthcare financing solution that allows patients to pay for medical, dental, cosmetic, and veterinary procedures over time instead of paying the full amount upfront. Here's how it works:

Application: Apply online in 2-3 minutes with basic personal and financial information. Cherry performs a soft credit check that doesn't impact your credit score during the prequalification process.

Approval: Receive an instant decision with your approved loan amount and available payment plan options (typically 3-60 months).

Selection: Choose the payment plan that fits your budget, whether it's a promotional 0% APR option or a low-rate standard plan.

Treatment: Your healthcare provider receives payment upfront from Cherry, allowing you to proceed with your treatment immediately. You then make monthly payments to Cherry according to your chosen plan.

Unlike traditional medical loans, Cherry specializes exclusively in healthcare financing, which means faster approvals, more flexible terms, and customer service representatives who understand medical billing.

Cherry Payment typically requires a minimum credit score of 550-600 for approval, though this varies based on several factors:

Credit Score Ranges:

• 700+: Likely to qualify for promotional 0% APR offers with higher loan amounts
• 650-699: Strong approval odds for standard low-APR plans (9.99%-19.99%)
• 600-649: Good approval chances with moderate APR rates (15.99%-25.99%)
• 550-599: Possible approval with higher APR rates (25.99%-35.99%) and lower loan amounts
• Below 550: Approval is challenging but not impossible—other factors considered

Beyond Credit Score: Cherry evaluates multiple factors including income, employment stability, debt-to-income ratio, and banking history. We've seen applicants with 580 credit scores approved for $10,000+ procedures due to strong income and low debt, while some 650+ applicants faced lower approval amounts due to high existing debt.

Pro Tip: Apply even if your credit score is borderline. Cherry's holistic evaluation process might surprise you with approval when other lenders have declined you.

Cherry Payment offers both promotional 0% APR financing and standard interest-bearing options. Your rate depends on creditworthiness, loan amount, and repayment term:

Promotional 0% APR:

• Available for qualified applicants (typically 700+ credit score)
• Term lengths: 6, 12, 18, or 24 months
• No interest charged if paid in full within the promotional period
• On-time payments required—late payments may forfeit promotional rate

Standard APR Rates:

• 9.99%-14.99% APR: Excellent credit (750+), shorter terms
• 15.99%-24.99% APR: Good credit (650-749), moderate terms
• 25.99%-35.99% APR: Fair credit (550-649), varied terms

Important Note: Cherry uses simple interest calculation (not deferred interest). This means you only pay interest on the remaining balance each month. If you pay off your loan early, you save on interest charges. There are no prepayment penalties.

Use our Cherry Payment Calculator to estimate your monthly payment and total interest for different loan amounts and terms.

Cherry Payment provides instant approval decisions for most applicants—literally within seconds of submitting your application. Here's the detailed timeline:

Instant Approval (90% of applicants):

• Application completion: 2-3 minutes
• Automated credit review: 5-30 seconds
• Decision notification: Immediate on-screen display
• Total time from start to approval: Under 5 minutes typically

Extended Review (10% of applicants):

• Required when: Additional income verification needed, recent credit events detected, or address verification required
• Review time: 24-48 hours (business days)
• You'll receive email/SMS updates on status

What Triggers Extended Review:

• Recent address change (less than 3 months)
• Income source that requires verification (self-employment, disability benefits)
• Recent bankruptcy discharge (less than 2 years)
• High loan amount relative to stated income

Pro Tip: To ensure instant approval, have accurate employment dates, current address on file with credit bureaus, and recent pay stubs available if self-employed. This preparation allows Cherry's automated system to verify everything immediately.

If Cherry Payment denies your application, you have several options and alternative paths forward:

Understanding Why You Were Denied:

Cherry will provide a detailed adverse action notice explaining the specific reasons for denial, which typically include:

• Credit score below minimum threshold
• Insufficient income for requested loan amount
• High debt-to-income ratio
• Recent delinquencies or collections
• Recent bankruptcy (less than 12 months discharged)

Immediate Alternatives:

• Apply with a co-signer: Adding someone with good credit and income can significantly improve approval odds
• Request a lower loan amount: Cherry might approve a smaller amount even if they declined your initial request
• Try alternative financing: Consider CareCredit, Alphaeon, or other medical financing options
• Provider payment plans: Ask your healthcare provider about in-house financing or extended payment arrangements

Improving for Future Approval:

• Wait 30-60 days before reapplying to avoid multiple hard inquiries
• Pay down existing credit card balances to improve debt-to-income ratio
• Dispute any credit report errors that might be impacting your score
• Build positive payment history with secured credit cards or credit builder loans

Visit our comprehensive guide on what to do when denied by Cherry Payment for detailed strategies and alternative financing options.

Yes, absolutely! Cherry Payment allows early payoff without any prepayment penalties or fees. Here's what you need to know:

Benefits of Early Payoff:

• Interest savings: You'll only pay interest on the months you actually borrowed. Pay off a 24-month loan in 12 months, and you save approximately 50% of the total interest.
• No penalties: Unlike some lenders, Cherry never charges prepayment fees regardless of how early you pay.
• Credit score boost: Successfully paying off an installment loan can improve your credit mix and utilization.
• Peace of mind: Debt-free living reduces financial stress and frees up monthly cash flow.

How to Make Early Payments:

• Online portal: Log into your Cherry account and select "Make a Payment" to pay extra anytime
• Mobile app: Use the Cherry mobile app to make one-time or recurring additional payments
• Phone: Call Cherry customer service to arrange a payoff quote and payment
• Auto-pay increase: Increase your monthly auto-pay amount to pay off faster

Important Considerations:

• Request a payoff quote to get the exact amount needed to close your account (includes interest through payoff date)
• For promotional 0% APR plans, early payoff doesn't save on interest (since there is none), but eliminates the debt obligation
• Make sure the payment is marked as "principal reduction" not just "next month's payment"

Cherry Payment is accepted by over 15,000 healthcare providers across the United States, spanning multiple specialties:

Most Common Providers:

• Dental practices: General dentists, orthodontists, periodontists, oral surgeons, cosmetic dentistry specialists
• Cosmetic surgery: Plastic surgeons, dermatologists, med spas, aesthetic clinics
• Vision care: LASIK centers, ophthalmologists, optometrists offering premium services
• Veterinary clinics: Emergency vet hospitals, specialty vet practices, general veterinarians
• Specialty medical: Fertility clinics, weight loss surgery centers, dermatology practices
• Wellness providers: Chiropractic offices, physical therapy centers, acupuncture practices

How to Find Cherry Providers Near You:

• Use our Cherry Provider Locator tool to search by specialty, zip code, or city
• Visit Cherry's official provider directory at Cherry.com
• Call your preferred provider and ask if they accept Cherry financing
• Look for the Cherry logo or "We accept Cherry" signage at the provider's office

State-by-State Availability:

Cherry Payment is available in all 50 states. Provider density is highest in:

• California, Texas, Florida (largest networks)
• New York, Illinois, Pennsylvania (major metropolitan areas)
• Arizona, Colorado, Washington (growing markets)

Browse our state-by-state provider directory for specific locations in your area.

Both Cherry Payment and CareCredit are excellent healthcare financing options, but they excel in different areas. Here's our expert comparison:

Cherry Payment Advantages:

• Lower credit requirements: 550 minimum vs. 600+ for CareCredit
• Faster approval: Truly instant decisions vs. 2-3 minutes
• Simpler interest structure: No deferred interest traps; straightforward APR calculations
• Better for fair credit: More approvals for 550-650 credit score range
• Modern platform: Better mobile app and user interface

CareCredit Advantages:

• Massive provider network: 250,000+ providers vs. 15,000 for Cherry
• Longer term options: Up to 84 months vs. 60 months for Cherry
• Multi-use card: Reusable credit line vs. single-use loans
• Established reputation: 35+ years in business vs. 10+ for Cherry
• More promotional periods: Wider variety of 0% APR term lengths

Our Expert Recommendation:

Choose Cherry Payment if: You have fair credit (550-650), need instant approval for a specific procedure, want transparent interest calculations, or prefer modern digital banking experience.

Choose CareCredit if: You need flexibility to use financing across multiple providers, want the option for longer repayment terms (60+ months), require a reusable credit line, or your provider doesn't accept Cherry.

Best Strategy: Apply to both! Check your prequalification with both lenders (soft credit pull, no impact to score), then compare the specific rates and terms you're offered. Many patients keep both and use whichever offers better terms for each specific procedure.

Read our comprehensive Cherry vs CareCredit detailed comparison for deeper analysis.

Yes, Cherry Payment performs a hard credit inquiry when you submit a full application. However, there are important details to understand:

Hard Inquiry Impact:

• Typically results in a 5-10 point temporary decrease in your credit score
• Inquiry remains on your credit report for 2 years but only impacts your score for 12 months
• Multiple inquiries for the same purpose within 14-45 days count as a single inquiry
• Impact is minimal if you have good credit history and low credit utilization

Pre-Qualification Option:

Some Cherry providers offer a soft credit check pre-qualification that does NOT impact your credit score. This gives you an estimate of approval likelihood and potential rates before committing to a full application. Ask your provider if this option is available.

When the Hard Pull Happens:

• The hard inquiry occurs when you click "Submit Application" with your provider
• It does NOT happen when you're just browsing information or using calculators
• Once submitted, the inquiry will appear even if you're denied

Yes, absolutely! Cherry Payment's instant approval process makes it particularly well-suited for urgent healthcare needs:

Emergency Situations Where Cherry Works Well:

• Emergency dental: Broken teeth, severe toothaches, root canals, extractions
• Veterinary emergencies: Urgent pet surgeries, emergency vet visits, life-saving treatments
• Vision emergencies: Urgent eye procedures, retinal treatments
• Cosmetic urgency: Post-accident reconstructive procedures

How to Use Cherry for Emergencies:

1. Apply immediately online or at the provider's office (takes 2-3 minutes)
2. Receive instant approval decision (within seconds)
3. Provider can begin treatment immediately once financing is approved
4. You don't pay anything upfront—payment plan starts after treatment

Important Limitations:

• The healthcare provider must already accept Cherry Payment (you cannot use it at hospitals or providers not in Cherry's network)
• Cherry does NOT work for ER visits or hospital-based emergency care
• You still need to meet credit and income requirements even in emergencies

Missing a Cherry Payment can have several consequences, but understanding the timeline and your options can help you avoid serious problems:

Timeline of Consequences:

Days 1-15 (Grace Period):

• No immediate penalties if payment is made within 15 days
• You'll receive email and text reminders
• Interest continues to accrue on the outstanding balance

Days 16-30 (Late Fee Applied):

• Late fee charged: typically $25-$35
• Account marked as past due in Cherry's system
• No credit report impact yet

Days 31-60 (Credit Report Impact):

• Payment reported as 30 days late to credit bureaus
• Credit score impact: 60-110 points decrease
• Additional late fees may apply
• More aggressive collection calls begin

Days 61+ (Serious Delinquency):

• Reported as 60+ days late (severe credit damage)
• Account may be sent to collections
• Full balance may become due immediately
• Legal action possible for large balances

What to Do If You Can't Make a Payment:

1. Contact Cherry immediately—before the due date if possible
2. Explain your situation and ask about hardship programs or payment arrangements
3. Make a partial payment if you can—showing good faith helps
4. Consider asking family/friends for temporary help to avoid credit damage

Yes, you can have multiple active Cherry Payment loans simultaneously, but there are important limitations and considerations:

How Multiple Loans Work:

• Each loan is separate: Each procedure/provider gets its own individual loan with its own terms and monthly payment
• Combined credit limit: Cherry considers your total outstanding balance across all loans when approving new applications
• Typical maximum: Most borrowers can have $15,000-$35,000 in total Cherry financing across all loans
• Each application: Requires a new hard credit inquiry and approval process

Requirements for Additional Loans:

To get approved for a second or third Cherry loan, you typically need:

• Perfect payment history on existing Cherry loans (no late payments)
• Debt-to-income ratio that can support additional payment
• At least 2-3 on-time payments on previous Cherry loan
• Credit score hasn't significantly decreased since last approval

Strategic Considerations:

• Payment management: Multiple loans mean multiple due dates—set up autopay for each to avoid missing payments
• Credit utilization: Multiple installment loans can actually help your credit mix, but too much debt hurts your score
• Future borrowing: Having significant Cherry debt may limit your ability to get mortgages or car loans

Alternative Strategy:

Instead of multiple separate Cherry loans, consider:

• Timing procedures together to get one larger loan
• Using CareCredit for one procedure (reusable credit line)
• Paying off smaller loans before taking new ones