⚡ Cherry Financing Quick Summary
Bottom Line: Cherry payment plan is the best choice for cosmetic and dental financing if you want transparent pricing without CareCredit's deferred interest trap.
What is Cherry Financing?
Cherry financing (officially Cherry Technologies) is a modern healthcare payment solution founded in 2019. Unlike traditional medical credit cards, Cherry payment plan focuses on providing transparent, consumer-friendly financing for elective healthcare procedures.
Cherry Financing Key Facts
- Company: Cherry Technologies Inc.
- Founded: 2019 in San Francisco
- Focus: Dental, cosmetic, med spa, dermatology
- Providers: 10,000+ healthcare practices
- Max Financing: Up to $50,000
- Credit Check: Soft inquiry only
💡 What Makes Cherry Different?
Cherry payment plan uses simple interest instead of deferred interest. This means you only pay interest on what you owe—no surprise back-interest charges like CareCredit.
Cherry Payment Plan vs CareCredit: Which is Better?
This is the most common question we get about Cherry financing. Here's our honest comparison:
| Feature | Cherry Payment Plan | CareCredit | Winner |
|---|---|---|---|
| Deferred Interest | No ✅ | Yes ⚠️ | Cherry |
| Credit Check | Soft ✅ | Hard | Cherry |
| Provider Network | 10,000+ | 275,000 | CareCredit |
| Max Amount | $50,000 | Varies | Cherry |
| 0% APR Options | Yes (select providers) | Yes | Tie |
| Application Speed | 30 seconds | Minutes | Cherry |
| Coverage | Cosmetic, dental, med spa | All healthcare | CareCredit |
| Our Rating | 4.5/5 | 4.0/5 | Cherry |
⚠️ The Deferred Interest Trap Explained
CareCredit's biggest issue is deferred interest. Here's how it works:
CareCredit Example: You finance $3,000 with a 12-month 0% promo. If you pay $2,950 by month 12 (leaving $50), you owe ALL back interest from day 1—potentially $800+ at 26.99% APR!
Cherry Payment Plan: Simple interest means you only pay interest on unpaid balance. No surprise charges. Ever.
Verdict: Cherry financing wins for consumer-friendly terms. Choose CareCredit only if your provider doesn't accept Cherry.
Cherry Dental Financing: Payment Plans for Dental Work
Cherry dental financing is one of the most popular uses of Cherry payment plan. Here's what you can finance:
Dental Procedures Covered by Cherry
- ✅ Dental implants ($3,000-$6,000+)
- ✅ Veneers ($1,000-$2,500 per tooth)
- ✅ Invisalign & braces ($3,000-$8,000)
- ✅ Root canals ($700-$1,500)
- ✅ Crowns & bridges ($500-$3,000)
- ✅ Teeth whitening ($300-$1,000)
- ✅ Full mouth restoration ($20,000-$50,000)
💰 Cherry Dental Payment Plan Example
Dental implants: $4,500
Cherry payment plan: $187/month for 24 months (0% APR)
Total cost: $4,500 (no hidden fees)
Cherry Cosmetic Financing: Payment Plans for Cosmetic Surgery
Cherry cosmetic financing is the company's original focus. Cherry Technologies started by helping med spas and cosmetic surgeons offer financing.
Cosmetic Procedures Covered by Cherry
- ✅ Botox & fillers ($500-$2,000)
- ✅ Breast augmentation ($6,000-$12,000)
- ✅ Liposuction ($3,000-$10,000)
- ✅ Tummy tuck ($6,000-$15,000)
- ✅ Rhinoplasty ($5,000-$15,000)
- ✅ Facelift ($7,000-$20,000)
- ✅ Laser treatments ($500-$5,000)
- ✅ CoolSculpting ($2,000-$4,000)
Med Spa Treatments
- ✅ Microneedling
- ✅ Chemical peels
- ✅ IPL photofacial
- ✅ HydraFacial
- ✅ Laser hair removal
How Cherry Payment Plan Works
Getting Cherry financing is quick and simple:
Step 1: Check if You Prequalify
- Apply online or at your provider's office
- Soft credit check (won't affect score)
- Get decision in 30 seconds
Step 2: Choose Your Plan
- Select payment term (3-24 months)
- See exact monthly payment
- 0% APR available at many providers
Step 3: Get Treatment
- Cherry pays provider directly
- You pay Cherry monthly
- No prepayment penalties
Cherry Financing Fees & Interest Rates
| Fee Type | Amount | Notes |
|---|---|---|
| APR Range | 0-35.99% | Based on credit |
| 0% APR | Available | At select providers |
| Origination Fee | Varies | May apply on some plans |
| Late Fee | Varies | Check terms |
| Prepayment Penalty | $0 | Pay off early free |
| Annual Fee | $0 | No yearly charges |
Key Benefit: Cherry payment plan uses simple interest, so you can pay off early and save money. No deferred interest means no surprises.
Cherry Financing Pros and Cons
✅ Cherry Financing Pros
- No deferred interest trap
- Soft credit check only
- Up to $50,000 financing
- 30-second approval
- Modern app & experience
- 0% APR available
- No prepayment penalty
- Simple interest (pay early, save money)
❌ Cherry Financing Cons
- Smaller network (10K vs 275K)
- Newer company (2019)
- Not for veterinary/general medical
- APR up to 35.99% for lower credit
- Some providers may charge origination fee
Cherry Financing FAQ
Cherry financing (Cherry Technologies) is a healthcare payment plan for dental, cosmetic, and medical procedures. Unlike CareCredit, Cherry has no deferred interest trap and uses soft credit check.
No! Cherry payment plan uses a soft credit check that doesn't affect your credit score. This is a major advantage over CareCredit which does a hard inquiry.
Cherry financing covers: dental procedures (implants, veneers, Invisalign), cosmetic surgery, med spa treatments, dermatology, and other elective medical procedures up to $50,000.
For many patients, yes. Cherry payment plan has no deferred interest trap, uses soft credit check, and offers up to $50,000. CareCredit has a larger network (275K vs 10K) but the deferred interest can be costly if you don't pay in full.
Cherry payment plan approval takes about 30 seconds. You can apply online or at your provider's office and get an instant decision.
Yes! Many providers offer 0% APR Cherry financing for promotional periods. Ask your healthcare provider about available 0% options.
📚 Sources & Methodology
- Cherry Technologies official website
- First-hand testing by our editorial team
- User reviews from app stores and Trustpilot
- Interviews with dental and cosmetic practices
Disclosure: We may earn a commission if you apply through our links. This doesn't affect our ratings. Full disclosure →
Ready to Apply for Cherry Financing?
No deferred interest. Soft credit check. Decision in 30 seconds.
Apply for Cherry Payment Plan →