In 2015, over 15 million cosmetic procedures were performed in the United States. The costs of most procedures have decreased significantly over the last decade, due to innovative medical advancements. Have you been dreaming about undergoing a certain cosmetic surgery, but are not sure if have the bucks to pay for it? Well, you could scrimp and save your extra dollars for years, or you could explore the various financing options that are available. These include:
Applying For A Medical Credit Card
These function similarly to regular credit cards but can only be used to pay for medical procedures. They are fairly are easy to obtain and come with a 0% promotions and fairly low interest rates. Do your research ahead of time and make sure to choose a reputable medical card company. There are predatory lenders out there and interest rates can be applied retroactively if the loan is not paid off in a certain time period. Also, these cards are strict about on time payments. One late payment could result in the card’s annual percentage rate rising to upwards of 30%. One reputable option is CareCredit, which comes with attractive 0 percent promotions, and has reasonable interest rates and payment plans.
Using An Existing Credit Card
If you do not want to apply for a medical credit card, you can use an existing card to pay for the procedure. The main benefit to using your existing credit card is that it’s a quick, uncomplicated way to pay for a procedure. It is also a great way to build your credit score; if you make your monthly payments on time. It is wise to use a credit card with a low interest rate (less than 10% is recommended) and one that offered extra incentives, such as points towards gift cards or travel expenses. You might as well get a little extra while spending a lot!
Applying for a Doctor-Sponsored Payment Plan
Some doctors are willing work out a payment plan with you. This way, you do not have to pay the total cost upfront or finance using a credit card with a monthly interest rate.There is usually no interest on doctor-sponsored payment plans. Most doctors are flexible and willing to create a plan that works for your specific needs. The main negative to this option is that unpaid loans can still go to collection agencies, which can damage your credit score is not resolved.
Most cosmetic procedure doctors have dedicated office personnel who are willing to discuss the various financing options available to you. Don’t let financial fears squash your dreams of personal improvement through cosmetic surgery.
For more information , feel free to contact Buinewicz Plastic Surgery at 215.647.9668. We have two locations: Bucks County, PA and Hunterdon County, NJ.
