Best credit cards for medical expenses

Healthcare costs can be shockingly high, even for those with insurance. For 2024 HealthCare.gov Marketplace plans, the out-of-pocket maximum is $9,450 for individuals. That can be a lot of money for an insured person, and for people without insurance, costs can be exorbitant.

If you can’t cover medical expenses with a health savings account, flexible spending account or your personal savings, you might consider a credit card. For example, a credit card with a zero interest APR offer on purchases could help you spread costs over time.

However, charging medical expenses to a credit card may be financially risky. Interest charges can quickly add up, and you might be able to find other financing options that suit you better. But if you’re confident you can pay off a credit card balance before interest starts accruing, you could enjoy added benefits from some credit cards, such as rewards.

Discover some of the best credit cards for medical expenses and what factors to consider in choosing a card that works for you.

Comparing the best cards for medical expenses

Which card is best for you depends on your circumstance and needs. Some people may opt for a rewards card, while others might prefer to avoid interest. Use this table to compare credit card rewards, intro APR offers and other charges and fees. None of these cards come with an annual fee.

Top cards for medical expenses

Best for rewards on medical and drugstore needs

Chase Freedom Unlimited®

Rating: 5 stars out of 5

5

• Bankrate's view

  If you have a stack of medical bills to pay and you want to maximize on this spending to earn rewards while avoiding interest payments for a time, the Chase Freedom Unlimited is worth a look. For those with recurring prescription or medical device expenses, the main draw is the 3 percent back on drugstore purchases — a bonus category you won’t find on many cards.

• Pros & cons

  

  Pros

  • This card has terrific first-year value: an attainable welcome offer, plus you can earn one of the highest bonus rates for combined gas and grocery purchases during the first year.
  • You won't accrue interest for a little over a year with this card's decent APR offer, making it worthwhile if you need to pay off large medical bills.

  

  Cons

  • The APR can be relatively high, so you'll want to pay off any medical expenses (or come close to it) before the intro APR offer ends to avoid medical debt.
  • You could get hit with a high penalty APR if you make a late payment, which could last indefinitely.

Best for generous 0 percent intro APR offers and perks

Wells Fargo Reflect® Card

Rating: 4.3 stars out of 5

4.3

• Bankrate's view

  If rewards are not a priority and you just want to avoid interest for as long as you can, the Wells Fargo Reflect Card might be the ideal pick. This card features one of the lengthiest intro APR offers on the market, giving you a considerable stretch of time to help with ongoing or unexpected medical costs.

• Pros & cons

  

  Pros

  • Depending on your creditworthiness, you could qualify for a relatively low APR if you need extra time to pay off your balance.
  • This card comes with decent perks for a no-annual-fee card, like cell phone protection, Roadside Dispatch® and My Wells Fargo Deals.

  

  Cons

  • With no consistent rewards program, this card has little long-term value.
  • The balance transfer fee is on the higher end at 5 percent (minimum $5), which could affect your potential savings.

Best for earning cash rewards with intro APR offers

Wells Fargo Active Cash® Card

Rating: 4.3 stars out of 5

4.3

• Bankrate's view

  If you are looking to turn medical bills into cash rewards with no hassle, the Wells Fargo Active Cash Card could fit the bill. Cardholders earn one of the highest flat rates on purchases at 2 percent with this card. Coupled with intro APR offers on both purchases and balance transfers, the Active Cash card could make a great everyday rewards card, especially if you have ongoing medical expenses.

• Pros & cons

  

  Pros

  • You can enjoy a lucrative rewards rate on all eligible purchases without tracking bonus categories.
  • The intro APR offer for balance transfers gives you 120 days from account opening to transfer your debt and qualify for the intro rate — longer than most competitor cards.

  

  Cons

  • This card charges a foreign currency conversion fee, making it less ideal if you need to travel abroad for medical reasons.
  • For attractive perks like travel protection or annual statement credits, you'll need to look elsewhere.

Best for consolidating medical debt

U.S. Bank Visa® Platinum Card

Rating: 4.3 stars out of 5

4.3

• Bankrate's view

  You can also consider the no-annual-fee U.S. Bank Visa Platinum Card if you have a lot of medical debt on other credit cards and need to consolidate and pay it down. Similar to the Wells Fargo Reflect card, you can avoid interest on balance transfers and new purchases for almost two years. You won’t earn rewards, but you can enjoy cell phone protection (up to two $600 claims per 12-month period when you pay your monthly phone bill with your card, with a $25 deductible) and, if eligible, choose your automatic payment due date.

• Pros & cons

  

  Pros

  • You may be eligible for alternative pay-over-time options, such as the U.S. Bank ExtendPay® Plan.
  • You can check your credit score anytime for free (enrollment required).

  

  Cons

  • Since this card does not have a rewards structure, you won't earn rewards for ongoing medical expenses.
  • While you can take advantage of benefits like cell phone protection, overall the perks are minimal.

Best for earning rewards on medical costs

Upgrade Triple Cash Rewards Visa®

Rating: 3.3 stars out of 5

3.3

• Bankrate's view

  With the Upgrade Triple Cash Rewards Visa® card, you can earn top rewards for health expenses, such as purchases at drug stores and pharmacies, medical and dental labs, and optometrist and ophthalmologist offices. However, you’ll need to pay your balance in full to earn these rewards. Also, this card doesn’t offer an introductory zero interest period, but if you qualify for the lower end of its APR range then you could avoid hefty interest charges.

• Pros & cons

  

  Pros

  • This card's health bonus category is versatile, including health and beauty spas, bicycle shops, sporting goods stores and public golf courses.
  • With a potentially low APR, you could save a lot on interest — helping you to manage ongoing medical costs.

  

  Cons

  • Since this card does not have an introductory APR offer, it might not be the best option to consolidate medical debt.
  • Rewards are earned by paying off the balance in full, so if you are only making minimum payments, you won't see any rewards.

Expert advice on paying medical expenses with a credit card

Before you decide to put your medical bills on a credit card, consider these expert tips and make a plan for managing your medical costs.

Choose a zero interest card over a deferred interest card, if possible.

You may want to watch out for deferred interest offers. A deferred interest card will still accumulate interest during the introductory or promotional period but you won’t be charged until the offer ends. If you still owe a balance, you will be responsible to pay the back interest that accumulated during the offer period plus the ongoing new interest charges. So if you are unable to pay the balance in full, a deferred interest card can actually increase your medical debt.

On the other hand, a zero interest credit card will not accrue any interest during its introductory offer period. If you have a balance when the period ends, you will then be charged interest, but there is no additional back interest to worry about.

Sometimes it can be hard to distinguish between a deferred interest card and zero interest card. Read the fine print of any card you’re considering that has an introductory offer so you can take care to meet the requirements and avoid falling into a deferred interest trap.

Consider all your options.

While using a credit card to cover medical costs can be helpful, it can also be risky since you might be charged a high interest rate if you can’t pay your balance in full.

Instead, you might look into other financing options to pay down your medical debt like getting a line of credit, personal loans or medical loans. Many medical providers also offer their own low-interest or zero-interest payment plans. Additionally, you can contact your provider’s medical billing office to find out about federal and local organizations that offer financial assistance.

Pay your balance in full.

No matter the type of card, it’s best to pay your balance in full to avoid interest charges. Once you start accruing interest, your medical debt can balloon quickly. On top of being a source of stress, significant debt can have a negative impact on your credit score. Take advantage of zero interest intro offers so you can clear your medical expenses interest-free.

How to choose the best card to pay for medical expenses

If you plan to charge medical expenses to a credit card, asking yourself these questions could help you decide which card best matches your needs.

How much debt do I need to pay off?

Spend some time figuring out how much you’ll owe in medical bills when all is said and done. If your medical debt is manageable, a card that offers rewards and a shorter 0 percent APR intro offer may be a good option.

If it’s a hefty sum, consider credit cards with longer 0 percent APR intro offers even if they don’t have rewards.

Do I want to earn rewards?

Some cards for medical expenses offer rewards for every dollar you spend, but not everyone needs a rewards card, especially if you are working to decrease spending and pay off debt. Cash back credit cards can entice you to spend more since you know you’re getting something in return.

If you need to lower your medical debt, you should consider a rewards credit card only if you’re also taking advantage of the card’s intro APR offers and if you can pay your medical balance off before the introductory APR offer ends.

What kind of intro APR offer do I prefer?

Compare introductory APR offers so you know what you’re getting. Some cards offer 0 percent intro APR only on balance transfers, and these cards may charge interest on any new purchases if you carry a balance (including from a balance transfer). Other cards  extend zero interest to both purchases and balance transfers for a limited time. Decide which intro offer will meet your needs best.

Frequently asked questions about paying medical expenses with credit cards

• What are the risks for paying medical bills with credit cards?

  The major risk is high interest rates if you can’t pay off your balance in full each billing cycle. If it takes a long time to pay down your medical expenses, the interest charges could be exorbitant. Plus, credit card debt could negatively impact your credit.
  

• Can I negotiate my medical bill if I pay with a credit card?

  Typically, if you pay with a credit card, you’ll no longer be in a position to negotiate with medical providers. Once providers receive their money from the issuer, you’ll have to shoulder any medical expenses charged to your card.Keep in mind that some hospitals and healthcare providers offer in-house payment options and discounts that could act as alternatives to charging your credit card. This approach also enables you to deal with the provider directly.

• Is paying medical expenses with a credit card a good idea?

  That will depend on your financial situation. If you pay your balance in full at the end of your card’s billing cycle or intro APR offer, then charging medical expenses can be convenient and, if it’s a rewards card, can deliver some earnings too. But if you’ll start incurring interest or late fee charges, your debt could snowball and damage your credit. Instead, you might consider options like taking out a low-interest personal loan.
  

What next? 

With Bankrate’s debt management resources, you can start working toward medical debt relief with personalized payment plans and expert guidance.

The bottom line

Looming medical costs can become a financial burden. However, strategically using credit cards for medical expenses can help manage upcoming bills or prior medical debt. Choose a card with a 0 percent intro APR offer that fits your goals or, if you have recurring costs, consider one that rewards medical spending.

But be aware that if you can’t pay off your balance each billing statement or when the intro APR period ends, then you could be hit with a high interest rate that will increase your medical debt and may hurt your overall credit. If you’re having trouble finding the funds to pay your bills, consider exploring alternatives such as a payment plan from your medical provider, a line of credit or a personal loan.