Stellar Snippets
There are several drawbacks to using a medical credit card when compared to other credit cards.
One of the main drawbacks is that they can come with high interest rates and deferred interest features.
If you miss a payment, you can incur big interest costs and that, in turn, can hurt your credit score.
Medical credit cards can also blur the lines between healthcare and financial services, leading to tempting offers.
Medical credit cards can entice people into elective medical procedures they cannot afford, leading to ruined credit.
It is important to understand how medical credit cards work and to read the fine print before signing up for one.
It is also important to consider other options for paying medical bills and meeting other medical expenses.
Consider negotiating with providers or applying for financial aid, before using a medical credit card.
They come in handy only when there are frequent medical expenses and may not be useful in other situations.