Credit Card???

[capshockeygrl]

Hi Folks,

Without going into too much detail, I find myself needing to open up a credit card in order to pay for a required medical procedure that has to be paid for up front. I've never had a real credit card before (just two store credit cards that I barely use), so I'm really not sure where to start or what the best deal is. Suggestions?

Credit Karma estimates my credit rating at the upper end of Very Good (almost Excellent, in fact), so the problem shouldn't really be getting a card, just choosing one.

The Southwest card seems like a good deal, but Southwest won't fly out of my local airport until November, so I'm not even sure the airline will be a good match for me yet. I also don't fly but maybe once or twice per year.

There are so many cards out there that I feel like I'm at a loss. I don't know what to look for or where to start. Any help would be greatly appreciated. I know you folks always have wonderful insight here!

 

[scrapquitler]

Hi Folks,

Without going into too much detail, I find myself needing to open up a credit card in order to pay for a required medical procedure that has to be paid for up front. I've never had a real credit card before (just two store credit cards that I barely use), so I'm really not sure where to start or what the best deal is. Suggestions?

Credit Karma estimates my credit rating at the upper end of Very Good (almost Excellent, in fact), so the problem shouldn't really be getting a card, just choosing one.

The Southwest card seems like a good deal, but Southwest won't fly out of my local airport until November, so I'm not even sure the airline will be a good match for me yet. I also don't fly but maybe once or twice per year.

There are so many cards out there that I feel like I'm at a loss. I don't know what to look for or where to start. Any help would be greatly appreciated. I know you folks always have wonderful insight here!

I would look for the card that has no annual payment and the lowest finance charges.

Before you get a 'regular' credit card ask your medical care provider if they have an option. I know our dentist offers a card (unfortunately I can't remember the name of it) which is specifically designed for using in your situation, where you have to pay for a medical procedure up front, and I think it has a pretty low interest rate (or maybe no interest for the first 60 days or something). I know that there have been discussions about this program here on the DIS in the past, so maybe someone who has used it will chime in and tell you the details.

 

[seashoreCM]

This is what I look for:

1. No annual membership fee or monthly minimum fee.
2. No interest or finance charges if you pay off the balance each month.
3. Rewards not limited to purchases at one airline or one store chain or one hotel group.

 

[maddiebee]

I would look for the card that has no annual payment and the lowest finance charges.

Before you get a 'regular' credit card ask your medical care provider if they have an option. I know our dentist offers a card (unfortunately I can't remember the name of it) which is specifically designed for using in your situation, where you have to pay for a medical procedure up front, and I think it has a pretty low interest rate (or maybe no interest for the first 60 days or something). I know that there have been discussions about this program here on the DIS in the past, so maybe someone who has used it will chime in and tell you the details.

Usually this is a card called Care Credit. You want to be really careful with this card because I think it's interest free for a certain amount of time and then they spike up your interest rate to an absurd place. You'd be much better off finding a "regular" credit card with no fees/interest.

 

[capshockeygrl]

Thanks for all the advice so far - keep it coming!

Regarding the CareCredit card - I took a look at it after noticing it in the list of cards that my provider accepts, but the APR, like maddiebee warned, was outrageous, which leaves me apt to avoid it.

It can really drive a person batty trying to sort through all the different cards out there!

 

[Marionnette]

Hi Folks,

Without going into too much detail, I find myself needing to open up a credit card in order to pay for a required medical procedure that has to be paid for up front. I've never had a real credit card before (just two store credit cards that I barely use), so I'm really not sure where to start or what the best deal is. Suggestions?

Credit Karma estimates my credit rating at the upper end of Very Good (almost Excellent, in fact), so the problem shouldn't really be getting a card, just choosing one.

The Southwest card seems like a good deal, but Southwest won't fly out of my local airport until November, so I'm not even sure the airline will be a good match for me yet. I also don't fly but maybe once or twice per year.

There are so many cards out there that I feel like I'm at a loss. I don't know what to look for or where to start. Any help would be greatly appreciated. I know you folks always have wonderful insight here!

Do not choose a rewards credit card if you intend to carry a balance. They tend to have higher APRs than non-rewards cards.

Go to bankrate.com and click on the credit cards tab. There is a box on the top left of the next page with a drop-down box. Choose the "low interest" cards and the "0% interest" cards and compare. Choose the 0% cards if you feel that you will be able to pay it all off before the rate balloons. Choose the low-interest cards if you feel that you will be carrying a balance for quite a bit of time.

Keep in mind that you will have a minimum payment that you will need to make each month, regardless of which you choose. Make sure that you will be able to afford the minimum payment before you charge that bill to the card. And you will have a line of credit that may or may not cover the entire cost of your procedure.

You might be able to get a personal loan for less than what the interest rate would be on a credit card. You might want to consider that option as well.