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June 13, 2015

What you need to know about plastic surgery financing

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Most of life’s big purchases have prescribed financing options: buy a home, get a mortgage; send a kid to college, save in a 529 plan; need a new car, take out a car loan. But how do you finance plastic surgery, fillers and other procedures?

Here at the Aesthetic Wellness Center, we support the CareCredit healthcare credit card. It is a credit card you can use to cover your health, wellness and beauty expenses – subject to credit approval. It’s a flexible option for paying your healthcare bills at your convenience, and you can use it multiple times at healthcare providers who accept it near you. Through CareCredit card, The AWC offers 0% financing for 6 months or 14.9% financing for 24, 36 or 48 months.

What you need to know about cosmetic surgery financing through healthcare credit cards:

  1. The promotional period – On the front of your bill, there is a date that signifies the end of the interest-free promotional period. You must pay off your balance by that date or start paying interest each month. If you aren’t sure when your promotional period ends, call CareCredit directly.
  1. Avoid paying interest – Keep your costs down by making on-time payments each month and paying off your balance by the end of the interest-free promotional period. Think about paying more than the minimum amount each month, as the minimum amount is usually not enough to pay the entire balance by the end of the promotional period.
  1. Using the card for other healthcare purchases – Check with the credit card company to see if you have a “grace period” and review how it works before you use the card again. Without a grace period, you’ll pay interest on new purchases from the date you make them.
  1. Details matter – To make sure small mistakes don’t lead to large interest and penalty charges, keep track of minimum payments and payment addresses.

Some other payment methods to explore:

  •        Regular credit cards
  •        Bank loans
  •        Cash savings
  •        Loans from family and friends
  •        Gifts

Whether you are considering financing for plastic surgery or other non-invasive procedures like Juvederm and Juvederm Voluma dermal fillers, our advice is as follows:

  • Consider what you can reasonably afford.  CareCredit offers a calculator to help you figure out your monthly payment.
  • Do your research to find the best surgeon to perform your surgery.  You do not want to compromise your results by looking for the lowest price.
  • Read the fine print of any contracts you sign.