But you dont have to wait till then to apply. Credit cards usually charge high-interest rates and may not reward you for medical expenses. Can You Pay Your Mortgage With a Credit Card? But Chase Sapphire Preferred cardholders also can transfer points to a variety of travel partners and get 25% more in redemption value when they book travel via the Chase Ultimate Rewards portal. Both of the credit cards below come with generous 0% APR periods. Already have medical debt? Emergency room visits or even elective medical procedures are inevitable for most people. If you choose the lump sum method, you can easily qualify for a limited-time credit card signup bonuswith a high minimum spend. This card also lets you forego the annual fee and you can get different benefits, such as cell phone protection, secondary auto rental insurance coverage, and more. Cardholders can also enjoy $0 plan fees when using Plan It to split up large purchases into monthly installments. The Citi Double Cash earns up to 2% back on every dollar you spend. For instance, you may qualify for financing for 6 to 24 months with no interest if you pay off the complete amount during that period. Plus, earn 3X Membership Rewards Points on flights booked directly with airlines or onamextravel.com. Also, Rose Gold is back! Also, you should only use your credit card when you can pay the monthly statement balance in full and avoid interest charges. Terms apply. Advertiser Disclosure: The card offers that appear on this site are from companies from which Johnny Jet receives compensation. Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024. The best credit card for hospital bills and related medical expenses can be a cash back card like the Citi Double Cash. Although it is not a conventional credit card, it is recommended highly by medical professionals whose patients need help with their medical bills. You will be then charged 14.74% to 24.74% variable APR after this. For rates and fees of The American Express Gold Card, please click here. The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. Each point is worth 25% more (1.25 cents) when booking award travel through Chase or transfer at a 1:1 ratio to hotel and airline partners. In a recent survey from Experian, over half of the respondents said that they prefer to pay for their medical expenses with a credit card. You might inspect these limited-time credit card offers to find an amazing opportunity. It might be a travel credit card or a cash rewards credit card. Here are two credit cards that offer eye-popping welcome bonuses to new cardholders. If you are comfortable with this, then here is a list of the best credit card for medical expenses in 2022: Best credit card for in-house medical financing. Paying your credit card balance before the statement closing date has some benefits. Picking the right medical credit card for you depends on your needs. This means that the card works as your go-to drugstore credit card too. Lastly, make sure to choose the credit card which offers the perks you are looking for. It takes one or two days for the purchase to post and verify that you made a legit purchase. Lets begin by looking at three credit cards that are specifically designed for paying medical bills. And if youre ever worried that you wont be able to make a payment, AccessOne promises to be there to listen and work with you. This is one of the most convenient balance transfer credit cards available in the market in 2022. For an explanation of our Advertising Disclosure, visitthis page. Although thats a fairly high minimum spending requirement, it may be no problem if you plan to use the card to pay for a major medical expense. Opinions are the author's alone. Opinions expressed here are the author's alone. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below. Although this card will not earn your reward points you get several additional perks, such as cell phone protection. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); 60,000 points bonus, 3x points on dining, $50 annual hotel credit. All three Southwest consumer cards come with the same signup bonus: Summary of the Best Credit Cards for Medical Bills, For rates and fees of The American Express Gold Card, please, In-Depth Chase Sapphire Preferred Card Review 2022, Best Credit Cards For Dining, Restaurants, Takeout, & More, How Hard Is It To Get The American Express Platinum Card? However, the company works with patients to help them find affordable payment plans for their medical expenses. The size of the medical bill, your current financial health, and your payment plan options help you decide to pay it all upfront. Most credit cards require you to wait at least one business day after the transaction date to pay your credit card. Plans created after that will have a plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors. If so, you may be able to reduce your interest charges by applying for a 0% balance transfer card. Opinions expressed here are author's alone, not those of the bank, credit card issuer, or other advertiser, and have not been reviewed, approved or otherwise endorsed by the advertiser. Disclaimer: The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. But this card also comes with a sign-up bonus of 100,000 points if you spend $6,000 within your first 6 months with the card. Visit americanexpress.com to learn more. You can redeem your Chase Ultimate Rewards points for cash, gift cards, or travel. CareCredit allows you to borrow money to pay off medical expenses and pay the amount back to the card carrier over time. But if you have great credit, a 0% APR credit card or 0% balance transfer card may be a better fit. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Your medical bills can help you earn a signup bonus which counts towards earning the Southwest Companion Pass. However, you should also be aware of the potential risks of using credit cards to pay off your medical bills. 60,000 points bonus, 4x points at restaurants. For example, the card currently comes with 18-month promotional financing on any Bowflex purchase of $200 or more. Read our full review of the Chase Sapphire Preferred. Life insurance is necessary for anyone with responsibilities and being able to lower your life insurance premiums is a great way to stay ahead of your budget. So if youre someone who already has some medical debt and you expect more medical expenses in the future, this card could be one of your strongest choices. However, the best credit card may also be one with the most exciting signup bonus that you can use. New Chase Freedom Unlimited cardholders can earn an additional 1.5% cash back on everything they buy (on up to $20,000 spent in the first year) worth up to $300 cash back! On purchases of $200 or more, the CareCredit credit card offers zero interest if paid in full with financing for 6, 12, 18, or 24-month terms. Medical bills you must pay for out-of-pocket are not automatic high-interest debt balances. Terms apply. Cardholders can choose between Gold or Rose Gold. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. This is a great option to consolidate several different medical debts into one. Terms Apply. Cardholders earn 1% back when they buy, plus 1% back when they pay for their purchases. Learn more: Johnny Jet Recommended Credit Cards. And youll receive a $200 sign-up bonus after you spend $2,000 on the card within the first 6 months. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. If you have strong credit, you may qualify for a general 0% APR credit card. For purchases of $1,000 or more, CareCredit offers longer-term financing at reduced interest rates and fixed monthly payments. The Blue Cash Preferred Card from American Express is a good card for daily purchases, including medical bills. "Do I need life insurance if I am single and have no kids?" Cardholders will also enjoy 0% intro APR for 15 months on purchases and balance transfers. Related: Capital One Venture X Rewards Credit Card vs. American Express Platinum: Which Travel Rewards Card Is Best for You? The Chase Freedom Unlimited earns at least 1.5% back (1.5 Ultimate Rewards per $1) on all purchases. There is no limit to how much can be earned. The American Express Cash Magnet Card is similar to the Chase Freedom Unlimited Credit Card card in many regards. If youre able to qualify for a 0% intro period with this card, the long-term low APR could make it your best choice. The no-interest charge offer is also applicable to qualifying balance transfers, hence this card is best if you have medical debt on other cards. 100,000 points bonus, 5x points on select travel. The Chase Freedom Unlimited Credit Card offers the following rewards bonuses: Best of all, youll earn 1.5% unlimited cash back on all your purchases with the Chase Freedom Unlimited Credit Card card. Healthcare.gov says that fixing a broken leg can cost up to $7,500.That means this one medical visit alone might cause a large number of families to face financial hardship. Best credit card for generous APR and card perks. But if they arent currently offering 0% interest periods, you may want to apply for another card from this list first. The Wells Fargo Health Advantage Card comes with an interest rate of 12.99%, which is below the average credit card interest rate of 14.75%. In this guide, well look at the best medical credit cards of 2022. To earn the bonus, youll need to spend $4,000 on purchases within your first 3 months with the card. All three Southwest consumer cards come with the same signup bonus: earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months. These are the 4 best credit cards for medical expenses in 2022. Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel purchases, plus more. Terms apply to American Express benefits and offers. Your Amex Membership Rewards points are most valuable for booking award flights and select gift cards. The Capital One Venture Rewards Credit Card is one of the best travel rewards credit cards as its easy to earn and redeem miles. Oftentimes, patients can apply for medical cards right from their doctors offices. Terms apply to American Express benefits and offers. While some credit cards offer fully 0% APR periods, other 0% promotions are deferred interest periods. Still, there are some credit cards that allow you to pay off your medical debt in convenient ways. And this card doesnt charge an annual fee. Also, Rose Gold is back! (Review), The Best Gas Credit Cards for 2022 (Rewards, Cash Back, & Bonuses). Enjoy a low intro APR and reduced plan fees when you split up large purchases into monthly installments with the Plan it feature. Here are 8 reasons why you ABSOLUTELY need life insurance. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); COPYRIGHT 2021 | ALL RIGHT RESERVED BY GFM, Accreditation Council for Continuing Medical Education, O% APR on buying for the first 15 months (14.99% 23.74% variable APR thereafter), Earn reward points on medical and drugstore spending, Pay off medical bills with no interest charges within the introductory APR period, Consolidates all your medical debts into one, Excellent for consolidating medical debt and other card balances into one. Making a lump-sum payment can help you easily reach the $3,000, $4,000, or $5,000 three-month minimum spending requirement. Johnny Jet does not include all card companies or all card offers available in the marketplace. Apart from this, you can even earn 5% on Chase Ultimate Rewards travel and Lyft spending. It also comes with a 15-month 0% APR period, no annual fee, and 1.5% unlimited cash back. Before using a credit card, be sure to speak with your hospitals billing department to find out which payment options are available to you. World of Hyatt Grows More With Thompson Hotels, Chase Sapphire Preferred vs Capital One Venture Credit Card Review 2022, The Best Travel Credit Cards For July 2022, Chase Sapphire Preferred Review 2022 60,000 Bonus Points, Chase Sapphire Reserve Benefits and Perks 5 Reasons I Love Mine, 9 Best Credit Cards For Excellent Credit in 2022, The Best Chase Credit Cards Review For July 2022. At What Age is a Child Responsible for Medical Bills, How to Negotiate Medical Bills in Collections. New Chase Sapphire Preferred Card cardholders can earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. To see which providers near you accept the Wells Fargo Health Advantage Card, you can use their search tool. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The U.S. Bank Visa Platinum Card is offered with no annual fee. And many of those providers are in specialties that often arent covered by medical insurance, like animal care, chiropractic care, dentistry, dermatology, and many more. The primary benefit is you keep your credit utilization ratio low to boost your credit score. And for purchases of $2,500 or more, you may be eligible for a 60-month financing offer with a 17.90% APR. Most fixed cash back cards only award up to 1.5% back. Southwest Airlines can be one of the best airlines to fly for competitive prices on domestic flights and Caribbean flights. Youll receive a $200 cash back bonus after you spend $500 within your first 3 months with the card. It is advisable to use a credit card to pay the medical debt if you can pay the credit card debt within a few months. Most medical credit cards can be opened online so you can start comparing your options well before your visit or procedure. We may, however, receive compensation from the issuers of some products mentioned in this article. These cards can also help you maximize your other daily purchases. For an explanation of our. Youll want to pay attention to the fine print, though. Even if you pay processing charges, the signup bonus value usually exceeds these add-on charges. Yes, most hospitals will accept credit card payments. While we do our best to keep these updated, numbers stated on our site may differ from actual numbers.See our Privacy Policy & Disclaimer for more details. Some of these cards may have lower credit requirements than general credit cards. Also, you can receive a bevy of free benefits like trip cancellation insurance, car rental insurance, purchase protection, and extended warranty coverage. Once you have used reached the US$ 20,000 charge, you can look forward to earning at least 1.5 % cashback on all purchases, including medical expenses. Capital One Venture X Rewards Credit Card vs. American Express Platinum: Which Travel Rewards Card Is Best for You? You can redeem your rewards for cash statement credit, paper check, or bank deposits. And neither of these cards uses a deferred interest model. This is equal to $750 in travel. These are often described as zero percent if paid in full periods. Luckily, many of the things high school students should know by the time they graduate are very basic. In fact, some may promise to accept all applicants regardless of their credit standing. You receive an additional 1.5% cashback on everything you charge to this credit card. User Generated Content Disclaimer: The comments below each article are not provided or commissioned by the bank advertiser. Each card has various anniversary point bonuses and other fringe benefits. The most luxurious of these three cards is the Priority Card including a $75 annual Southwest credit and four Upgraded Bookings per year. Your email address will not be published. But thats not the only thing that makes this one of the best medical credit cards. Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more. If you wish to pay off medical debts, but earn reward points in return while avoiding interest rates, then Chase Freedom Unlimited is the best choice. Related: Best Apps to Save Money on Hospital Bills. If you have poor or damaged credit, you may want to apply for one of the credit cards built specifically for paying medical expenses. With Plan it, you can choose to pay certain expenses over a fixed period of time with no interest. Latest Incentives for Travel and Travel Card Spending, How Hard Is It To Get the Capital One Venture, Chase Sapphire Preferred vs Capital One Venture, Best Credit Cards for International Travel, Shake Shack (only at participating locations). If you need more time to pay off the credit card debt, you can also extend your financing period with a 24-to-60-month reduced APR period. For rates and fees of The Blue Cash Preferred Card from American Express, please click here. Another perk is the ability to earn up to $10 in statement credits on a monthly basis when you use your Gold Card to pay at the following dining establishments (enrollment is required): This perk can save you up to $120 annually. CareCredit is a good option to cover medical bills within a doctors or dentists office. The Chase Freedom Unlimited Credit Card credit card offers a 0% intro APR period of 15 Months. However, this may incur your interest on par with conventional credit card rates. Earn 100,000 Membership Rewards points after youve spent $6,000 in the first six months of card ownership. Make sure to remember that you need to pay an intro 3% balance transfer fee (or US$ 5, whichever is more) that needs to be paid upfront for each balance transfer. It is advisable to charge medical expenses to this credit card when you are sure to pay off the balance amount within 15 months or less. However, credit cards that are specifically designed to pay medical bills may have a no credit reporting policy. You can use the CareCredit credit card to pay for some preventative medical expenses as well. Cardholders can choose between Gold or Rose Gold. So if you still have a balance at the end of your promo period, you wont be charged any retroactive interest. Already have the money sitting in the bank to pay for your medical expenses? You might also use your credit card to pay bills if you can earn a signup or welcome bonus. This post contains references to products from one or more of our advertisers. They say that everyone qualifies for the AccessOne MedCard regardless of credit. However, there are times and situations where you might end up having to pay medical expenses using your credit card. You can redeem them for 1 cent each for cash redemptions and gift cards. If you apply for a medical credit card that comes with a deferred interest period, youll want to do your best to pay off the balance before your promotional period ends. We may receive compensation when you click on links to those products. Not being able to make instant payments prevents payment confusion. And Chase Freedom Unlimited Credit Card doesnt charge an annual fee. Once your family is healthy, you can enjoy, 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining at restaurants, including takeout and eligible delivery services, New Chase Freedom Unlimited cardholders can, 6.5% cash back on travel purchased through Chase Ultimate Rewards (Chases premier rewards program that lets you redeem rewards for cash back, travel, gift cards, and more), 4.5% on dining at restaurants (including takeout and eligible delivery service), However, if you are wanting to earn a few more miles on travel, good news, New Capital One Venture Rewards Credit Card cardholders can, The Blue Cash Preferred Card from American Express, 6% cash back at U.S. supermarkets, up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back on transit, including taxis/rideshare, parking, tolls, trains, buses, and more. Editorial Disclosure: This content is not provided or commissioned by the bank, credit card issuer, or other advertiser. It may be needed, especially if you dont have an emergency fund tucked away for unexpected medical expenses. That means new cardholders can enjoy: New cardholders earn this extra 1.5% cash back on up to $20,000 spent in the first year.