In recent years dental and medical credit cards have become a popular option to finance needed medical and dental treatment. But consumer complaints about aggressive and misleading marketing tactics have lead to an ongoing investigation by the New York State attorney general. The complaints claim that patients feel pressured by medical practitioners to sign up for these cards to pay for procedures they may not need or cannot afford.
So for your protection be sure that you read the fine print and know the terms of any contract you sign. Any zero percent financing lasts for only a specific period, usually from 6 to 12 months. After that period of time, you will be charged interest – often a high interest. Also be sure to be aware of the minimum payment you need to make in order to pay off the loan in the no-interest period. Paying the minimum that the credit card company requires may not be enough for you to pay off the loan in the no-interest period.
Yes, we offer CareCredit and CitiHealth Cards. It sometimes gives people the means to pay for much needed treatment. But we are careful to explain the fine print. Rest assured that we never pressure our patients to sign up for a credit card plan. We don’t let people borrow more than they can comfortably pay back. We behave ethically and treat our patients with respect. We present options and let patients know the full costs before we begin treatment and we present treatment which is within the patient’s budget. Medical and dental cards can be a convenient way to pay for dental expenses – but they have to be used wisely.