What are the best credit cards for doctors?

The most expensive credit card is the Centurion® Card from American Express (also called the Amex “Black Card”), because it has an initiation fee of up to $10,000 and a $5000 annual fee. But considering that you have to be invited to even apply for this card - and you have to spend (and pay off) hundreds of thousands of dollars annually on Amex credit cards to get an invitation - most of us probably won’t have to worry about how expensive this charge card is. … read full answer

Some credit cards with high annual fees end up being worth it because of extra rewards or travel perks, if you can use those perks frequently enough. But people with credit cards that are seen or marketed as status symbols, are likely paying more for the inferred status than they are for a good credit card.

Here are some of the most expensive credit cards:

• Centurion® Card from American Express: $5000 annual fee
• Mastercard® Gold Card: $995 annual fee
• The Platinum Card® from American Express: $695 annual fee
• J.P. Morgan Reserve Credit Card: $550 annual fee
• Chase Sapphire Reserve®: $550 annual fee

That said, expensive credit cards don’t only end up in the hands of high-rollers, and annual fees aren’t the only metric to measure how expensive a card is. “Expensive” means different things to different people, and people with bad credit are often the ones who end up paying more for a credit card.

As in the case of the First Access Visa® Card, they pay in the form of monthly, one-time, and annual fees, with few or no ongoing rewards to make those fees worth it. Generally, these fee-laden credit cards for bad credit also come with high regular interest rates. So those who carry a balance on an unsecured card for bad credit will pay dearly for the privilege.

Here’s when to avoid getting an expensive credit card:

If you have bad credit, you’re far better off putting down a deposit on a secured credit card with rewards than trying to get an unsecured card for bad credit. And for everyone else, always make sure to consider what credit card fees buy you, relative to the best no annual fee offers, to see whether the added benefit (if any) is worth it in light of your spending and payment habits.

You can get a medical loan with bad credit, but it’s probably going to be pretty expensive. It probably won’t be called a “medical” loan by name, either. Few lenders offer loans specifically for medical expenses, but patients can just take out a personal loan to pay for their health care instead. Personal loans can be used for anything, including medical bills.… read full answer

The problem is, many personal loan providers won’t accept people with bad credit. And the lenders that will consider it typically have high interest rates and charge expensive origination fees. Some lenders that wouldn’t otherwise accept applicants with bad credit scores might let you get a secured loan for medical expenses, which could be a good deal, but you’ll have to put up something valuable as collateral.

Places to get medical loans for bad credit:

*According to multiple third-party sources

There are other lenders that offer loans to people with bad credit, but they don’t make their terms easily accessible. You should stay away from lenders that aren’t clear about their APR ranges or fees.

With that being said, if you don’t have a high enough credit score to qualify for an unsecured loan for medical expenses, and you don’t want to put down collateral for a secured personal loan, there are a few other avenues you could take.

You could tap in to your home’s equity to borrow at lower interest rates than a personal loan is likely to provide. But then the lender has the power to foreclose if you default. If you already own a credit card, you might consider putting the medical expenses on the card. However, having bad credit will make it hard to qualify for a card with a high enough credit limit and reasonable finance charges.

Finally, as an alternative to a traditional loan, you might try to borrow from friends or relatives. Or, you could even give crowdfunding your medical expenses a go.

The best low interest medical credit cards are the CareCredit Credit Card and the AccessOne MedCard.

They both offer 0% and low-rate financing, depending on your needs. But usually medical credit cards work with deferred interest, which means that if you have any balance left when the promotional period expires, you'll be charged interest retroactively for the entire purchase that was financed.… read full answer

It's best to just use a general credit card with a long purchase intro offer, like the Blue Cash Everyday Card from American Express with an intro purchase APR of 0% for 15 months, and a regular APR of 15.49% - 25.49% (V).