What is a medical credit card — and should you use one for healthcare expenses?

Core Insights - Medical credit cards offer an alternative payment method for medical expenses not covered by insurance or personal funds [1][2] - They may provide deferred interest or interest-free offers, but users must be cautious of high interest rates and fees after promotional periods end [3][5] - The CareCredit card is a prominent option, accepted at over 270,000 locations for various health and wellness expenses [12] Summary by Category Definition and Functionality - A medical credit card is specifically designed for medical expenses, allowing users to cover costs that insurance may not fully address [2] - Applications can be facilitated by healthcare providers or done independently online [4] Pros and Cons - Pros: Useful for managing out-of-pocket healthcare costs [8] - Cons: High interest rates, fees, potential for increased debt, and negative impact on credit scores if payments are missed [9][6] Alternatives - 0% APR credit cards can be a viable alternative, offering promotional periods without high interest rates [10] - Other options include rewards credit cards, personal loans, and low-cost healthcare programs like Medicaid and CHIP [11]