List of best credit cards are below
Occasionally life happens and you find yourself with a bill you didn’t plan to cover. While some of life’s unpredicted sequence of events are easy to pick up, other events are not so financially friendly, including medical exigency.In fact, a recent Consumer Financial Protection Bureau study found that medical liability is the mainly regular, sort of earlier period-due bill, and 59% of customers said they were communicated for debt collection linked to their medical debt.Keep reading to know about best credit card to pay medical expense .
What if there was a means for people to not only maintain up with their medical expenses, allowing them to keep away from collections, but also provide some added advantage. A credit card can do closely that. Keep reading the article to know which credit you need for paying your medical expenditure Keep reading to learn four reasons why a credit card is your best bet for paying medical expenditure.
Why it makes sense to pay your medical expenses with a credit card
0% intro APR period allow you to pay off the balance interest-free
Receiving a shocking medical bill is not at all fun, but it’s even bad when you can’t pay the bill in full. even though you can always create a payment plan with your doctor’s office, the hospital or the collections company, doing so isn’t always the best financial resolution, As you will have to pay the interest charges and some sort of processing fees as well moreover you have to be with the company till you pay back your debt . This is where a card with a long 0% into APR comes into the picture by returning the liability with a new 0% intro APR credit card, you can get rid yourself of the debt collector and have a long time to pay off the debt interest-free!
Citi Simplicity Card – No Late Fees Ever – Best credit cards
If you want the longest 0% intro APR on purchases, the Citi Simplicity Card – No Late Fees Ever (a NextAdvisor advertiser) is your card. That’s because it offers a whopping 21-month 0% intro APR on purchases and balance transfers (with a 3% balance transfer fee). This means you’ll have almost 2 years to pay off your medical expenses. On top of that, the Citi Simplicity Card – No Late Fees Ever has no annual fee, no late fees and no penalty APR — ever! Cardholders can pick their own payment date, which means you can easily align the date with your paycheck.
Wells Fargo Platinum Visa Card – Best credit cards
The Wells Fargo Platinum Visa Card is another option for those looking to avoid interest on their medical expenses because it offers an 18-month 0% intro APR on purchases and balance transfers (with a 3% intro balance transfer fee for 18 months, then it’s 5%). Cardholders will pay no annual fee and if they use their Wells Fargo Platinum Visa Card to pay their cell phone bill every month, they’ll get up to $600 in mobile phone protection against covered damage and theft (maximum of 2 claims per year). There is a $25 deductible per claim, but this one-time fee is likely a lot cheaper than what you’d pay your cell phone provider for insurance.
Bank Americard Credit Card – Best credit cards
Rounding out our list of the best 0% intro APR credit cards for paying medical expenses is the BankAmericard Credit Card. As our top-rated balance transfer credit card, we usually recommend it for balance transfers, but the BankAmericard Credit Card is also a solid choice for someone looking to make a big purchase. That’s because it offers a 15-month 0% intro APR on purchases. It also has a 0% intro APR on balance transfers made within the first 60 days of account opening, and you’ll get a $0 intro balance transfer fee for transfers made in the 60-day period (after that, it’s a fee of $10 or 3%, whichever is greater). The balance transfer aspect of this card probably isn’t something you’ll use, unless you already paid your medical expenses with another credit card and you want to transfer the balance to pay it off. The BankAmericard Credit Card also has no annual fee.
Wells Fargo Cash Wise Visa Card – Best credit cards
Kicking off our list of the best cash back credit cards for medical expenses is the Wells Fargo Cash Wise Visa Card. As noted above, this card earns an unlimited 1.5% cash back on all purchases, including your medical expenses. It also offers a $200 cash rewards bonus to cardholders who spend $1,000 on purchases in the first 3 months. Additionally, the Wells Fargo Cash Wise Visa Card has a 12-month 0% intro APR on purchases and balance transfers (with a 3% intro balance transfer fee for 12 months, then it’s 5%). If you can pay your medical expenses using Apple Pay or Android Pay, you’ll earn even more cash back because cardholders earn 1.5% cash rewards on qualified mobile purchases made during the first 12 months from account opening. Other perks of the Wells Fargo Cash Wise Visa Card include no annual fee and cell phone protection to those who pay their monthly mobile phone bill with their card.
Barclaycard CashForward World Mastercard -Best credit cards
Another option for paying your medical expenses is the Barclaycard CashForward World Mastercard, which combines cash back rewards with a 0% intro APR period. This card earns an unlimited 1.5% cash back on all purchases and has a $200 cash rewards bonus to those who spend $1,000 on purchases in the first 90 days. On top of that, you’ll get a 15-month 0% intro APR on purchases as well as balance transfers completed in the first 45 days of account opening (note there is a 3% balance transfer fee). What’s more, every time you redeem your rewards, you’ll earn a 5% cash rewards bonus to use toward your next redemption, which is a great ongoing bonus, and you’ll pay no annual fee. It should be noted that this card is only available to those with excellent credit (usually considered a credit score of 750 or higher) — the other cards in this post are available to those with good to excellent credit (a credit score of 700 or higher). This means that if your credit is less-than-perfect, the Barclaycard CashForward World Mastercard probably isn’t a fit for you.
Chase Freedom Unlimited – Best credit cards
Our final pick for the best cash back cards to pay medical expenses is Chase Freedom Unlimited. To start, this card earns an unlimited 1.5% cash back on all purchases. Next, when you spend $500 on purchases in the first 3 months from account opening, you’ll earn a $150 bonus. Additionally, you’ll get a 15-month 0% intro APR on purchases and balance transfers (with a 5% balance transfer fee) and pay no annual fee.
Keep in mind that a travel credit card can also earn rewards on your medical expenses, depending on the card, but we opted to only include cash back credit cards in this post because most travel credit cards do not offer a 0% intro APR on purchases. If you did want to consider some of the travel rewards options, we’d recommend looking into Discover it Miles, the Barclaycard Arrival Plus World Elite Mastercard or the Capital One Venture Rewards Credit Card, as they all earn a flat travel rate on all purchases.
Over to You !!!