First, I would like to know, is that even possible? I'm young, so I really don't know a lot about things like that. lol

Also, is it a horribly stupid idea to use a credit card for top surgery?

I would assume most doctors take credit cards.  In general, yes you can use credit cards for surgery. I don't see how its stupid at all. I use my credit card for everything. Just don't spend money you don't have, keep track of your accounts, and pay it off on time.

I would suggest CareCredit by GM, it's a credit card you can only use to finance medical costs and the payments are deferred without interest for a year. A few of my friends used it to finance their top surgeries.

Quote from: Mikah on June 08, 2011, 02:11:00 AM
I would suggest CareCredit by GM, it's a credit card you can only use to finance medical costs and the payments are deferred without interest for a year. A few of my friends used it to finance their top surgeries.

I will be sure to look into that. Thanks.

Not sure about the USA but credit cards in Australia have about 20% interest repayments, so you would be better off with a personal loan.

Cindy

If you can pay it off during each billing cycle then it's fine. I paid for mine on my credit card. However, I already had the funds saved up and paid for the complete costs each credit bill. I had to pay three different departments so they all weren't on the same bill.

However, like Cindy said many credit cards have huge interest they charge, so not paying it all off right away can add up to massive interest charges.

There are still a variety of interest-free intro offers within the US...not sure if they exist elsewhere.  Lengths tend to vary...the last one I had come in was a twelve-month no-interest term, after which any remaining balance would be assessed at the go-to rate (most of my cards are under 10% with a few still sitting under 5%). 

Most medical facilities DO accept plastic, but you would need to discuss what cards they accepted.  Someone else mentioned Care Credit (and I think Chase also offers a health account), but APR's can be higher on those.  If you got an offer with an intro 0% rate (Care USED to do some of those for persons with good credit), the balance could then be rolled to another card when the promo term was about to expire.

Yes, card arbitrage is something I have experience with, albeit for other reasons than medical expenses