Getting a care credit card with bad credit over the computer.

Need Care Credit?

Care Credit is a card that is accepted at many healthcare providers, even veterinary clinics. It allows you to finance health care, often with low interest rate payment plans. If you have the means of getting the card and paying it off before the plan expires, it can be a useful tool. But how hard is it to get approved for?

Can You Get Approved For Care Credit With Bad Credit

As you know, with bad credit, getting financing can be difficult. Care Credit offers low and discounted interest plans and your odds appear to be best if your credit is at least fair or you have a score over 640. So, if you have bad credit, your odds of approval are probably very slim. Still, if you want to apply, you can do so here.

Another option is to get a personal loan for the healthcare that you need. Loan Monkey can help with that.

A Care Credit Alternative

It takes just a couple minutes to get a quote for money that you can use to cover healthcare costs and there is no charge or obligation. Everything is secure and all that is needed is basic information. Your odds are good of getting an offer because the lenders in the loan network are used to working with bad credit.

More On Care Credit

Care Credit allows you to pay for medical expenses at over 200,000 providers in the United States. It has a revolving credit limit which means that you can use it over and over again, it is not a one time loan.

The biggest benefit of the card is that it offers short term payment plans with no interest in 6 month terms to 24 month terms. During the promotional period, you must pay off the entire amount or the interest will be charged back to you. The interest accrues from the time you make a payment and is only deferred if you get every dollar paid off in time.

In addition, if you need to pay for larger bills, Care Credit also offers longer terms with interest rates ranging from 14.9 percent to 17.9 percent. With the average credit card interest rate in the country currently at 17 percent, these rates are nothing outstanding. If you need long term financing, you may be better off applying for a standard credit card with a lower introductory rate.

Other Ways To Pay For Healthcare

When you do not get approved for care credit with bad credit, you still have options. If you need to pay for some medical expenses, here are just a few that you might consider.

Credit Cards

A standard open credit card like Visa, Mastercard or Discover may be a good option for you. If you are needing a large amount of money financed or need to finance for a longer term, it might even be a better option. With Care Credit rates as high as 18 percent on long term financing, there is nothing special about there.

Another benefit to a regular credit card is that you might be able to score a good introductory interest rated. This would also be a truly interest free or reduced interest period with no deferred interest.

Lastly, with an open credit card, you would be free to use it anywhere, not just with healthcare providers.

Personal Loans

A personal loan would be a good closed end loan option for you, even with bad credit. Instead of a revolving line of credit, you can get a set amount from a lender that you could then use for your healthcare costs.

This might be a good option because, in all likelihood, you are seeking out the Care Credit card for a one time expense and have no intent on using it in the future. We can help you get a quote for a personal loan to cover healthcare and it takes just a few minutes to get an answer.

To get your quote, simply fill out the form above which should take only a few minutes. With some very basic information, you can get your decision. If you like the quote, you can accept it and your lender will work to get you the money you need ASAP.

One of the benefits to using a personal loan to pay for your medical bill is that you may be able to get a cash discount from your provider. Many doctor’s offices give cash discounts to those not using health insurance. The discounts can be substantial.

In House Financing

Many healthcare providers offer in house financing programs to better serve their clients.

If available, in house financing often has great rates if not an interest free option. Inquire with your doctor’s office to see if this is a possibility. If this is a procedure you can have done elsewhere, it may also make sense to shop the service elsewhere to find one that offers their own finance plans.

401K Plans

If you have an employer 401K plan, it can be a great tool for financing an expense like this. Interest rates will be low and paid back to yourself. In addition, payments would be super low compared to other financing options.

They only issue is that there may be a wait on getting your money and you might have to pay a penalty. Inquire about this option as soon as possible if you think it is the way that you want to go so that you can prevent any delays.

Shopping Your Healthcare

One last consideration that you should make when it comes to paying for your healthcare needs is the total cost. Providers might offer the same quality service but have drastically different rates.

A doctor’s office is a business, one that most doctors have no interest in expanding. As you get busier, you can either expand or raise prices. If they do not want to add another doctor to the practice, they raise the prices.

This means that you can probably find a better price on the same service from a doctor who is just as qualified. What one doctor charges 2000 dollars for, another might only charge 1500 dollars. Before you commit to one office, call around a bit and get a range of prices. You can use that time to ask about in house financing and/or cash discounts.

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James Car is a finance, loan and budget expert based in the United States. After attending Brookhaven college, he went on to become a successful entrepreneur. He now enjoys writing articles that help people save and make the most of their money.