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Today, the average employer pays more than $13,300 per employee for health insurance, while individual family premiums run about $22,221 per year. It is no small change and can add up quickly when you need extra services, like a specialty or out-of-network provider and detailed testing like X-rays and scans.
It is expensive enough to pay for medical care with health insurance, but without health insurance, these costs can feel unsurmountable. That is where the right credit card for medical expenses can help you get the care you need while offering the time and space necessary to pay off those larger bills.
Intro Balance Transfer APR0% for 21 months on Balance Transfers
Balance Transfer Fee Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Balance Transfer APR13.74% – 23.74% (Variable)
Late Payment Fee Up to $40
Foreign Transaction Fees 3%
Penalty APR Up to 29.99% (Variable)
With the Citi Diamond Preferred card, you get an extended promotional period that is far longer than other credit cards. For 21 months, you will have 0% APR on all of your purchases and balance transfers before changing to a 13.74% to 23.74% variable APR. Balance transfers will cost $5 or 5% of the transfer, whichever is greater. This is not a card to get when you want extra rewards because this card has none. The promotional period is the best reward that the Diamond Preferred offers, but it can save you a ton of money in interest over a longer period of time.
There is 24/7 customer service with automatic account alerts, plus the freedom to pick your own payment date. Good credit is recommended to apply.
Pros:
- Extended APR period
- No annual fee
- Balance transfer intro offer
Cons:
- Must have good credit
- No rewards program
- Foreign transaction fee
Intro Balance Transfer APR0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Balance Transfer APR14.99% – 23.74% Variable
Foreign Transaction Fees 3% of each transaction in U.S. dollars
Penalty APR Up to 29.99%
- Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
- 1.5% on all other purchases
The Chase Freedom Unlimited credit card has a special offer for new cardholders that includes 5% cash back on gas station purchases, up to $6,000 each year. There is also a $200 bonus when you spend $500 within the first three months of having the account. The regular awards are pretty attractive, too. There is 5% back on travel but you must buy through Chase to qualify. Your dining purchases earn you 3% back, including your takeout favorites, and there is also 3% off drug store purchases. All other purchases on your card bring you 1.5% cash back.
The APR starts at 0% for 15 months and then increases to a variable APR of 14.99% to 23.74%, depending on creditworthiness. There is no annual fee, and your points never expire.
Pros:
- Intro APR
- No annual fee
- Can cash in rewards without minimums
Cons:
- Must have good credit
- Travel must be booked through Ultimate Rewards
- Balance transfer fee increases
Intro Balance Transfer APR0% for 20 billing cycles on balance transfers
Balance Transfer Fee Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Balance Transfer APR14.49% – 24.49% (Variable)
Foreign Transaction Fees 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars. 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency
The U.S. Bank Visa Platinum card has an introductory 0% APR that lasts an entire 20 billing cycles, longer than many other comparable cards. That means if you have a big expense to suddenly pay for, your Visa Platinum card could be an excellent way to buy some time before you have to begin paying interest.
The APR after that is largely reasonable at 14.49%-24.49% for standard ongoing rates. U.S. Bank allows you to choose your own payment date, plus there is auto-pay to keep things simple. There are no awards, but there is no annual fee to save you some cash. U.S. Bank will even cover your phone with cell phone protection when you pay your bill with your Visa Platinum card. Fraud protection is also included with free credit score monitoring available in the app or online.
Pros:
- Introductory APR
- No annual fee
- Includes cell phone coverage
Cons:
- No rewards program
- Good credit needed
- No welcome offer
Intro Balance Transfer APR0% intro APR for up to 21 months from account opening on qualifying balance transfers
Balance Transfer Fee up to 5%; min: $5
Balance Transfer APR12.99%-24.99% Variable APR
Foreign Transaction Fees 3%
Penalty APR None
The Wells Fargo Reflect card carries a 0% APR on purchases and balance transfers for the first 18 months of having the card. If you make timely payments, however, the promotional period will extend another three months for a total of 21 months. At the end of the promotional period, the rate changes to a 12.99% to 24.99% variable APR.
There is no annual fee, and you also receive up to $600 in cell phone protection when you pay your bill with your Reflect card. A unique benefit from Wells Fargo includes 24/7 roadside dispatch, as well as My Wells Fargo Deals that offers exclusive pricing from top merchants.
Pros:
- Extended promo period with timely payments
- No annual fee
- Extra Wells Fargo benefits
Cons:
- No welcome bonus
- No rewards program
- Foreign transaction fee
How did we choose these credit cards?
Most financial institutions today have credit cards that they offer to new customers, but not all of them may work when you are looking for the best credit cards for medical expenses. In our search for today’s top credit cards, we meticulously analyzed real consumer reviews while also measuring each company against a specific set of metrics.
These are some of the factors that we considered in finding the best credit cards for medical expenses.
- Medical needs: To find the right card, first think about your specific medical needs. If you see an out-of-network provider or plan to have a specific procedure, it will help to have an idea of your general needs so you can match them to the best credit card.
- APR: The amount of interest you will pay each billing cycle matters because it can quickly add up and cost you more than you expected. The APR can vary significantly between cards and is based on a number of factors, including your credit score.
- Credit score: Your credit score is used to determine the financing terms of your medical credit card. When you have a higher credit score, you generally receive lower interest rates than someone with poor credit.
- Rewards: Some credit cards will offer special introductory or general rewards that give you cash back or bonus miles that you can use for future purchases.
- Introductory offer: Most cards offer a special introductory offer to reward you for signing up. This can include no interest for a certain amount of months, extra cash back on balance transfers, or additional miles on your everyday purchases.
These are all factors that can help you in your search for the best credit card for medical expenses.
Which is the right credit card for you?
Choose this card… | When you… |
Citi Diamond Preferred card | Want a low APR to pay off expenses |
Chase Freedom Unlimited | Shop at drug stores for your medical needs |
U.S. Bank Visa Platinum card | Are consolidating medical debt |
Wells Fargo Reflect card | Have temporary, emergency expenses |
With so many institutions offering so many credit cards, it can quickly get confusing to tell them all apart.
Are there alternative cards to consider?
CareCredit: Best for out-of-pocket medical expenses
CareCredit is a unique provider that specializes in medical-related financing for your entire household – even your pets. The program provides coverage for health, wellness, and even beauty treatments, so you can use your CareCredit account to pay for certain procedures or treatments that your regular health insurance company will not cover. The funds can be used to pay a deductible or to pay for out-of-pocket procedures. There are shorter financing terms of anywhere from six to 18 months on purchases you make of $200 or more.
There is a convenient mobile app to help you manage your account, plus there is an option for online bill pay. You also can search more than 250 practices and medical professionals covered by CareCredit on its website to ensure you select a provider that is covered by the program.
Pros:
- Covers a variety of medical procedures
- Several financing terms
- Accepted at 250+ providers and facilities
Cons:
- Shorter financing terms
- High regular APR
- Only works for medical needs
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