Medical Credit Card Abuse on the Rise

Medical Credit Card Abuse on the Rise

October 31, 2013         Written By Natalie Rutledge

Medical credit cards are designed to help people pay for procedures they may not be able to afford on their own. These cards give patients a chance to undergo the procedures their insurance may not pay for, as well as giving the doctor the opportunity to get their money right away.

While this may seem like a great setup, most patients are pressured into getting medical credit cards without knowing the excessive costs sometimes associated with them. They can fall into a debt trap very quickly.

The abuse of the medical credit card system is growing by the day because many doctors are making these cards appear like an in-house payment program. Most patients are inclined to pay their doctor for their services directly, but they are more hesitant when a credit card is involved. Some medical professionals are masking the true source of their lending services and thus putting their clients at risk.

An example of this form of abuse can be seen by a company called CareCredit. Nearly 90% of New Yorkers in the CareCredit program opted for a program with no interest if the amount was paid in full. A quarter of them ended up paying 26.99% interest on their accounts instead. CareCredit has more than seven million cardholders nationwide, and it is currently the defendant in a variety of civil lawsuits.

If you are offered a chance to take to a credit card to cover your medical expenses, you should fully research the card before signing on the dotted line. Fully understand the terms of the card before agreeing to anything so you don’t end up in heavy debt.

The information contained within this article was accurate as of October 31, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at
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