If you have a medical credit card, you’ll have access to various benefits that can help you pay for your healthcare expenses. The special financing options, such as zero interest for a year or more, are especially appealing if you’re having trouble paying off the balance on other credit cards. Discover the benefits of a credit card in this article.
Easy Payment Plans
Many providers are offering 12-month no-interest payment plans for the first 12 months. This is great because you can complete your dental procedure without worrying about paying the bill with interest. If you do not want to wait for the full 12 months, most providers also offer unique financing options that allow you to pay off your procedure at a much slower rate.
If, for some reason, you need financial assistance after one year has passed and cannot pay off what is owed, no problem! Many dental providers will extend this particular financing period if needed, which means you can continue making small monthly payments until all balances have been paid in full.
No Interest for a Year or More
A medical credit card could be the answer if you’re looking for a way to pay off your medical debt. These cards are designed specifically for those with some pre-existing condition who might need regular treatment or medication. They can also be helpful if you’re looking to consolidate your existing credit card debt into one convenient monthly payment—or if you want another line of credit with a lower interest rate than what’s available from most traditional lenders.
Another benefit is that many medical credit cards offer extended introductory rates or zero percent APR periods when making purchases or balance transfers. This means that there’s no interest on purchases made with the card during this period (which can range from 12 months to 24 months). You may even qualify for zero percent APR on balance transfers made within 60-90 days after opening an account!
Special Financing
- Flexible payment options. These include staggered payments or the option to pay off your entire balance at once (though this may come with a fee).
- No interest for a year or more. If you pay off your balance within the first 12 months, you won’t have to pay any interest on that amount until after 12 months.
- Lower interest rates. Medical credit cards tend to have lower interest rates than regular credit cards. However, it’s important to check which is best for your situation before applying for one of these cards in particular.
Multiple Payment Options
In addition to the benefits mentioned above, a medical credit card offers you a wide range of payment options. You can pay for your health care or medications over the phone, online, by mail and even in person at some locations.
Payment options include monthly, bi-weekly and weekly plans. If you want to avoid making payments on such short terms every month, then accelerated payment plans are available, allowing you to make smaller payments on other days of the week, such as every other week or every third week, etc. But SoFi experts suggest, “take into consideration any other fees a credit card may charge, such as late payment fees.”
If you have multiple credit lines with them, they will assign each line its unique set of payment options so that they can offer you exactly what suits your needs best.