Credit where credit’s due: Comparing third- party veterinary payment options When the question goes beyond “What’s in your wallet?” with clients, the answer is the companies providing third-party loans and credit card options. We asked a number of companies offering third-party payment options for veterinary clients to give us the basics on their products and services that pet owners can use to pay a veterinary bill in the clinic. Compare and contrast on these two pages. (Find the latest version at dvm360.com/paymentplans). CareCredit ClearGage How long have you served the vet market? Product details? What does this cost the practice? Scratchpay Wells Fargo Health Advantage 25 years Since early 2016 10 years 10 years Credit card with promotional financing available on purchases of $200 or more; no interest if paid in full within six, 12 or 18 months; otherwise, accrued interest applies Loans for 3 to 36 months for $300 to $5,000; interest rates set by the provider and limited by state maximums Loans for $200 to $10,000 for 1) 90 days interest free (Pay Later) AND 2) 12 or 24 months with interest ranging from 5.9 to 29%, depending on the borrower’s application as well as the state (Pay Over Time) Loans for 1) no interest if paid in full AND 2) fixed- rate plan at 12.99% (at press time) Merchant fee based on financing option $69-$99/month license fee, plus $19 per activated agreement Flat 5% transaction fee for the clinic per Scratchpay transaction, no matter which plan the client chooses Varies based on plan type and length, but can be lower than accepting a regular credit card ALL INFORMATION PROVIDED BY COMPANIES THEMSELVES