Healthcare prices will be shockingly excessive, even for these with insurance coverage. For 2025 HealthCare.gov Market plans, the out-of-pocket most is $9,200 for people. That may be some huge cash for an insured particular person, and for individuals with out insurance coverage, prices will be exorbitant.
In the event you can’t cowl medical bills with a well being financial savings account, versatile spending account or your private financial savings, you would possibly contemplate a bank card. For instance, a bank card with a zero curiosity APR supply on purchases might assist you to unfold prices over time.
Nonetheless, charging medical bills to a bank card could also be financially dangerous. Curiosity fees can shortly add up, and also you would possibly be capable of discover different financing choices that go well with you higher. However in the event you’re assured you’ll be able to repay a bank card stability earlier than curiosity begins accruing, you may get pleasure from added advantages from some bank cards, reminiscent of rewards.
Uncover a few of the finest bank cards for medical bills and what components to think about in selecting a card that works for you.
High playing cards for medical bills
Greatest for drugstore purchases
Cardholder ranking
4.3
Bankrate rating
4.6
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18.99% – 28.49% Variable
17.24%, 23.74%, or 28.99% Variable APR
Greatest for common medical bills
AARP® Important Rewards Mastercard® from Barclays
20.99% – 29.99% Variable
19.24%, 24.24%, or 29.24% Variable APR
Greatest for consolidating medical debt
Bankrate rating
4.2
Bankrate overview
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17.74% – 28.74% Variable
Greatest for Walgreens and Duane Reed purchases
Cardholder ranking
4.0
Bankrate rating
4.0
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Greatest for incomes rewards on medical prices
Bankrate rating
3.3
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Evaluating the very best playing cards for medical bills
| Card identify | Greatest for | Annual payment | Rewards highlights | Intro APR presents | Really helpful credit score rating |
|---|---|---|---|---|---|
| Chase Freedom Limitless® | Drugstores | $0 |
|
| 670-850 |
| Wells Fargo Replicate® Card | Intro APR presents and perks | $0 |
| 670-850 | |
| AARP® Important Rewards Mastercard® from Barclays* | Common medical bills | $0 |
|
| 620 and above |
| Wells Fargo Energetic Money® Card | Money rewards with intro APR presents | $0 |
|
| 670-850 |
| U.S. Financial institution Defend™ Visa® Card* | Consolidating medical debt | $0 |
| 670-850 | |
| Bilt Mastercard® | Walgreens and Duane Reade purchases | $0 |
|
| N/A |
| Improve Triple Money Rewards Visa® | Rewards on medical prices | $0 |
|
| 580-740 |
Playing cards for medical bills sometimes require a good-to-excellent credit score rating. You probably have dangerous or truthful credit score, contemplate our prime picks for low curiosity and zero-interest playing cards for poor credit.
How to decide on the very best card to pay for medical bills
In the event you plan to cost medical bills to a bank card, asking your self these questions might assist you to determine which card finest matches your wants.
How a lot debt do I must repay?
Spend a while determining how a lot you’ll owe in medical payments when all is claimed and executed. In case your medical debt is manageable, a card that provides rewards and a shorter 0 p.c APR intro supply could also be a great possibility.
If it’s a hefty sum, contemplate bank cards with longer 0 p.c APR intro presents even when they don’t have rewards.
Do I wish to earn rewards?
Some playing cards for medical bills supply rewards for each greenback you spend, however not everybody wants a rewards card, particularly in case you are working to lower spending and repay debt. Money again bank cards can entice you to spend extra since you already know you’re getting one thing in return.
If it is advisable decrease your medical debt, you need to contemplate a rewards bank card provided that you’re additionally profiting from the cardboard’s intro APR presents and in the event you will pay your medical stability off earlier than the introductory APR supply ends.
What sort of intro APR supply do I favor?
Examine introductory APR presents so you already know what you’re getting. Some playing cards supply 0 p.c intro APR solely on stability transfers, and these playing cards could cost curiosity on any new purchases in the event you carry a stability (together with from a stability switch). Different playing cards prolong zero curiosity to each purchases and stability transfers for a restricted time. Resolve which intro supply will meet your wants finest.
Professional recommendations on paying medical bills with a bank card
Earlier than you determine to place your medical payments on a bank card, contemplate these professional suggestions and make a plan for managing your medical prices.
Select a zero-interest card over a deferred curiosity card, if potential
Chances are you’ll wish to be careful for deferred curiosity presents. A deferred curiosity card will nonetheless accumulate curiosity through the introductory or promotional interval however you received’t be charged till the supply ends. In the event you nonetheless owe a stability, you can be accountable for paying again the curiosity that accrued through the supply interval plus the continuing new curiosity fees. So in case you are unable to pay the stability in full, a deferred curiosity card can truly enhance your medical debt.
Alternatively, a zero-interest bank card is not going to accrue any curiosity throughout its introductory supply interval. You probably have a stability when the interval ends, you’ll then be charged curiosity, however there is no such thing as a extra again curiosity to fret about.
Typically it may be onerous to differentiate between a deferred curiosity card and nil curiosity card. Learn the nice print of any card you’re contemplating that has an introductory supply so you’ll be able to take care to satisfy the necessities and keep away from falling right into a deferred curiosity entice.
Take into account all of your choices
Whereas utilizing a bank card to cowl medical prices will be useful, it may also be dangerous because you is perhaps charged a excessive rate of interest in the event you can’t pay your stability in full.
As a substitute, you would possibly look into different financing choices to pay down your medical debt like getting a line of credit score, private loans or medical loans. Many medical suppliers additionally supply their very own low-interest or zero-interest cost plans. Moreover, you’ll be able to contact your supplier’s medical billing workplace to search out out about federal and native organizations that supply monetary help.
Pay your stability in full
Irrespective of the kind of card, it’s finest to pay your stability in full to keep away from curiosity fees. When you begin accruing curiosity, your medical debt can balloon shortly. On prime of being a supply of stress, important debt can have a unfavorable impression in your credit score rating. Make the most of zero curiosity intro presents so you’ll be able to clear your medical bills interest-free.
What subsequent?
The underside line
Looming medical prices can develop into a monetary burden. Nonetheless, strategically utilizing bank cards for medical bills can assist handle upcoming payments or prior medical debt. Select a card with a 0 p.c intro APR supply that matches your objectives or, if in case you have recurring prices, contemplate one which rewards medical spending.
However bear in mind that in the event you can’t repay your stability every billing assertion or when the intro APR interval ends, then you may be hit with a excessive rate of interest that can enhance your medical debt and should damage your total credit score. In the event you’re having hassle discovering the funds to pay your payments, contemplate exploring options reminiscent of a cost plan out of your medical supplier, a line of credit score or a private mortgage.
Continuously requested questions on paying medical bills with bank cards
The details about the AARP® Important Rewards Mastercard® from Barclays and U.S. Financial institution Defend™ Visa® Card has been collected independently by Bankrate. The cardboard particulars haven’t been reviewed or accredited by the issuer.
