Now that I have decided that I want to have a cosmetic procedure, how am I going to pay for it? Many people may think that the procedure they have been thinking about for years is just out of reach. There are several different options which are available today, which may allow a person to go ahead and have the procedure they want, and make monthly payments to pay off the balance.
Credit Card
Some patients choose this option to pay for their procedure(s), especially if they have a lower interest rate, or if they will get “reward” points or cash back on their purchases. One would need to consider the interest rate and what length of time they would need to pay the balance off to decide if this would be their best option.
Paying Part Cash / Part Credit
In some cases, patients choose to pay cash for half of the surgery with cash they have saved for this, and use their credit card for the remainder. This would help to cut out paying unnecessary interest over a longer period of time.
CareCredit®
There are several payment options available through CareCredit.
Payment plans include 6 month / no interest and extended payment plans which range from 24 months to 60 months, currently at 14.9 % interest rate. Applications can be submitted online at www.carecredit.com or by phone at 1-800-365-8295.
Occasionally, patients choose to use a Home Equity Loan or other bank loan when paying for their procedure(s). Interest may be tax deductible with a Home Equity Loan. Check with your financial advisor for information.
Which ever payment method one chooses, careful planning and looking in to the different financing options is worth the time spent.
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