Synchrony Sets a New Standard in Consumer Credit Education with Fair Financing Principles

Resource hub combines the company's principles with new consumer tools in a bold move toward industry transparency in Health & Wellness

New procedure calculator provides estimates of the most-searched procedures in the U.S. by zip code

STAMFORD, Conn., June 16, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer finance company, has always believed that consumers need clear and understandable information to feel confident in their decision-making process when considering financing options. To further its mission to better serve Americans through financial education and transparency, Synchrony, and its leading health and wellness financial solution, CareCredit, today launched a new initiative: the Fair Financing Principles. The Fair Financing Principles establish a new standard for transparency and education for financing options.

While 54 percent of U.S. adults say they know at least a fair amount about personal finances, less than half of adults ages 18 to 49 say the same.¹ At the same time, healthcare costs continue to rise, so Synchrony is addressing a critical need for resources to help Americans better understand and manage the cost of care not covered by insurance. A recent study found 52 percent of consumers struggle to pay for out-of-pocket medical expenses, and 53 percent reported that they have delayed medical treatments due to out-of-pocket costs.² The real-world impact of delaying care is a driving force behind Synchrony's commitment toward ensuring consumers have the tools and information they need to ease the financial burden of accessing timely care.  

"We started our Fair Financing Principles with a focus on health and wellness, one of the most complex of the industries Synchrony serves, so our customers can be better informed of their financing choices," said Beto Casellas, executive vice president and chief executive officer of Health & Wellness at Synchrony. "We have lived by and trained our providers on these principles for more than 35 years. Our hope is that by making these principles public-facing we are setting a new standard for what consumers should expect from their providers and a financing company."

Synchrony continues to support financial transparency with its growing collection of online consumer financing tools. One example is the new CareCredit Procedure Calculator, which provides the estimated cost of more than 700 health, wellness and veterinary care procedures based on zip code, represented by the average cost from the top three cities within each state across the U.S.

"Consumer anxiety around finances is on the rise these days. They want clarity and the ability to make intentional, informed choices. CareCredit's Fair Financing Principles fill that need and raise the bar for the industry with their extensive online consumer resources," said Bobbi Rebell, financial wellness expert, author and CFP® Professional. "The Fair Financing Principles explain not only how CareCredit works, but provide thoughtful and clear information for consumers, no matter what financial product they choose."

The new CareCredit Fair Financing Principles and Procedure Calculator are housed on a webpage with a variety of resources for consumers, including:

• Payment Options: An explanation of options to pay for health and wellness expenses not covered by insurance, including how CareCredit works, use of flexible or healthcare spending accounts, and ensuring consumers know if they qualify for financial assistance or subsidized care by state or federal programs.
• Promotional Financing Overview: Easy to understand explanations of different promotional financing options, as well as an overview of how deferred interest and reduced/fixed APR work.
• Payment Calculator: Estimates a patient's monthly payments based on the amount financed and the promotional financing option selected.
• A Sample CareCredit Billing Statement: Offers guidance on how to read and find important information on monthly statements, such as the amount owed if a balance remains at the end of the promotional period when the promotional period expires.
• Provider Tips: Health and wellness providers share how they ensure patients understand their financing options, as well as questions patients should ask their providers about paying for care.
• Cardholder Testimonials: Existing cardholders share their experiences with CareCredit.

"The Fair Financing Principles page mirrors my same commitment to clarity and transparency and what I want my patients to know before financing their care," said Brian Harris, DDS, Harris Dental. "As a small business owner, Synchrony's CareCredit credit card is an essential part of my practice and having resources available to my patients, like the new Fair Financing Principles and Procedure Calculator, helps them make informed decisions about how to pay for the dental care they want and need."

The mission of Synchrony's Health & Wellness business is to help people pay for the costs of care they want and need, and the CareCredit Fair Financing Principles are grounded in the company's commitment to providing clear and transparent information about its payment solutions. To read the Fair Financing Principles and additional educational information, please visit https://www.carecredit.com/fair-financing-principles/.

CareCredit is a credit card that people can use to pay for out-of-pocket costs not covered by insurance, including Lasik eye surgery, audiology, cosmetic care, dental care and even pet care. It is accepted at more than 280,000 providers across the U.S., including at select retail locations such as Albertsons, Sam's Club, Walmart and Walgreens, where you can use the card for health and wellness products. To learn more about CareCredit, visit https://www.carecredit.com.

About Synchrony

Synchrony (NYSE:SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For^® by Fortune magazine and Great Place to Work^®. For more information, visit www.synchrony.com.

Media Contact:

Michelle Blaya Romero

Synchrony

[email protected]

References:

1. Pew Research Center Survey of U.S. adults conducted September 2023.

2. Consumer Healthcare Journey Research. Synchrony. September 2023.

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SOURCE Synchrony