Healthcare expenses can be daunting, especially when an unexpected medical emergency arises. Fortunately, using credit cards to cover health expenses can be a convenient and rewarding way to manage your healthcare costs. But which credit cards are best for health-related expenses? Fret not! In this article, we'll dive deep into the best credit cards for health expenses, so you can focus on what matters most – your well-being and financial health.
Credit Cards For Health Expenses Table of Contents
Why Use Credit Cards for Health Expenses?
- Flexible payment options: Credit cards can provide financing for medical expenses when you don't have immediate access to cash or your emergency fund isn't sufficient.
- Rewards and cashback: Some credit cards offer rewards programs or cashback for healthcare-related expenses, giving you an opportunity to earn points or save money on your purchases.
- Interest-free financing: Many cards offer introductory 0% interest rates for an extended period, allowing you to manage your health expenses without incurring interest charges.
Top Credit Cards for Health Expenses
1. Chase Freedom Unlimited
- Sign-Up Bonus: Earn a $200 bonus after spending $500 on purchases within the first three months of account opening.
- Rewards: Unlimited 1.5% cash back on all purchases, including healthcare expenses.
- Introductory APR: 0% intro APR on purchases for 15 months.
The Chase Freedom Unlimited is a versatile card with its unlimited 1.5% cashback on all purchases, making it a great option for managing your healthcare expenses. Plus, with a 0% introductory APR for 15 months, you have ample time to repay your medical expenses without incurring interest charges.
2. Wells Fargo Active Cash Card
- Sign-Up Bonus: Earn a $200 cash rewards bonus after spending $1,000 in purchases during the first three months.
- Rewards: Unlimited 2% cash rewards on purchases, including healthcare expenses.
- Introductory APR: 0% intro APR on purchases for 15 months.
The Wells Fargo Active Cash Card offers a competitive 2% cash reward rate, which can help you earn rewards while covering your health expenses. Additionally, the 0% intro APR for 15 months on purchases allows you to minimize interest charges on your medical bills.
3. CareCredit
- Rewards: Special financing options for eligible healthcare expenses.
- Interest rates: 0% intro APR for six to 24 months on purchases $200 or more, depending on the financing plan selected.
- Purpose: Focused on healthcare expenses, including dental, veterinary, and cosmetic treatments.
CareCredit is a unique healthcare-focused credit card offering special financing plans for qualified expenses. The 0% intro APR for six to 24 months allows you to manage medical costs without interest during that time, making it an excellent option for those with significant healthcare expenses.
Credit Cards For Health Expenses Example:
Meet Jane, a 28-year-old freelancer experiencing an unexpected dental emergency. She needs immediate oral surgery costing around $3,500, but her emergency fund is only $1,500. Jane considers applying for the Chase Freedom Unlimited card.
After approval, Jane uses the card to pay the remaining $2,000 for her dental surgery. Jane benefits from the 0% intro APR on purchases for 15 months, giving her time to pay off the remaining balance without incurring interest charges. Not only that, but Jane also gets 1.5% cashback on her medical expense, adding an extra $30 to her wallet.
Managing healthcare expenses can be overwhelming, but with the right credit card, you can take control of your financial health while enjoying rewards. Don't forget to share this article with friends who could benefit from this information and be sure to explore other Flik Eco guides for tips on personal finance, investing, and more!
