Medical bills can be a significant burden for many people, especially if you're dealing with a high-deductible health plan or unexpected expenses. Thankfully, the right credit card can help ease the financial pressure and even provide rewards or savings in the process. In this article, we'll explore the best credit cards for paying medical bills and how they can help you manage your finances more effectively.
Best Credit Cards For Paying Medical Bills Table of Contents
The Top Credit Cards for Paying Medical Bills
When evaluating which credit cards are best for medical expenses, it's essential to consider factors such as interest rates, rewards programs, and any additional benefits. Below, we've highlighted some standout options to help you navigate this crucial decision.
Chase Freedom Unlimited
- Earn 1.5% cash back on all purchases, including medical bills.
- 0% introductory APR on purchases for the first 15 months.
- No annual fee.
One of the best credit cards for paying medical bills is the Chase Freedom Unlimited. With a 1.5% cash back rate on all purchases, you can save money on your medical expenses. Additionally, the card offers a 0% introductory APR for 15 months, allowing you to pay off larger bills over time without accruing interest.
Discover it Cash Back
- Earn 5% cash back on rotating categories (up to a quartelry maximum), which may include medical expenses.
- 1% cash back on all other purchases.
- 0% introductory APR on purchases for 14 months.
- Discover matches all cash back earned at the end of your first year.
- No annual fee.
The Discover it Cash Back card is another excellent choice for paying medical bills, particularly if they fall into one of the 5% rotating bonus categories. Plus, with a 0% introductory APR for 14 months, you can take your time paying off those expenses interest-free.
Citi Double Cash Card
- Earn 2% cash back on all purchases: 1% when you buy and 1% as you pay.
- 0% introductory APR on balance transfers for 18 months.
- No annual fee.
The Citi Double Cash Card offers a flat 2% cash back rate, making it a valuable option for those looking to save on medical bills. While there isn't an introductory APR offer for purchases, this card is great for consolidating medical debt via its 18-month 0% APR balance transfer offer.
Wells Fargo Platinum Card
- 0% introductory APR on both purchases and qualifying balance transfers for 18 months.
- Cell phone protection plan when you pay your phone bill with the card.
- No annual fee.
The Wells Fargo Platinum Card doesn't offer cash back or rewards, but it does provide an extended 0% introductory APR period of 18 months for both purchases and balance transfers. This feature can help you manage medical expenses by spreading payments out without incurring extra charges.
Best Credit Cards For Paying Medical Bills Example:
Imagine that you have an unexpected medical bill of $3,000. If you use the Chase Freedom Unlimited, you would earn 1.5% cash back, or $45, on that purchase. Also, you could take advantage of the 15-month 0% APR period if you needed more time to pay. In contrast, using the Citi Double Cash Card would result in $60 cash back, though you would need to transfer the balance to benefit from the 0% APR period.
Choosing the right credit card for paying medical bills can provide you with much-needed financial relief and help you manage these expenses in a more efficient manner. The credit cards discussed in this article offer a variety of rewards, interest rates, and benefits to suit different needs and situations. Feel free to explore more resources on Flik Eco to learn about other financial tools and strategies, and don't forget to share this article with friends or family who may be dealing with medical expenses.
