Before Starting, Fix Your Credit
While it is possible to pay for plastic surgery with poor credit, it is difficult. Prior to speaking with a surgeon, consider fixing your credit first. This will avoid hurting it further. There are a few ways you can work on improving your credit, such as:
- Opening a savings account (if you do not already have one)
- Dispute items from your credit report (cautiously)
- Don’t reach your monthly limit on your credit card just because you can (and keep your balances low)
- Create positive credit history through a secured credit card
We highly recommend not pursuing a non-medical necessity surgery not covered by insurance with a bad credit score. Most are for personal improvement, and therefore, likely not a part of your insurance plan. However, if you are still adamant on the procedure of your choice, you can, surprisingly, still pay for it with a low credit score.
How to Pay for Plastic Surgery with Bad Credit
In an article titled, “Financing Plastic Surgery: 10 Options,” by Emma Johnson on CreditCard.com, the following is recommended:
- Loans: Two types of loans can generally be used for the operations.
- Regular: Your bank or local credit union could sign off on an unsecured loan for you. Unfortunately, using a loan means the procedure could end up costing you more due to interest rates. On the bright side, you can receive a loan with a fixed interest rate, keeping the interest from increasing over time. If you choose a secured loan, you would guarantee an asset for collateral for the purpose of any missed payments, but you would also be provided with lower interest rates.
- Medical: Unsecured medical loans are offered by a doctor or a third party site like doctors. With a lower credit score, this may be a way to still receive borrowed money; however, you need to be aware that these types of loans usually have higher interest rates.
- Credit Cards: Speaking of borrowed money, paying for plastic surgery with plastic could be another option. If you use a card with an interest rate lower than 10% for your desired or needed procedures, you can not only cover the costs of your surgery but also build your credit (as long as you are paying your balances on time).
- Payment Plans: Some surgeons may offer payment plans of their own. These may be based on your income or budget, depending on the practice. Although, keep in mind that many medical offices will still not perform the procedure until the balance is paid in full. There may also be no interest rates involved in this type of arrangement, but you could still be sent to collections for missing a payment.
- Savings: Lastly, you could pull from your own savings to pay for plastic surgery. This would be the least risky as far as hurting your credit any further. Of course, you should put a plan of action into place to replenish the account to ensure future security for emergencies.
Before signing up for cosmetic surgery, make sure you are absolutely sure you want to do this. Never follow through on an impulse, and consider how much this will truly improve your life (if at all). The expense can really add up, and if you’re already hurting financially, you may want to explore other options.
If you’ve been wondering how to pay for plastic surgery with bad credit, know you do have options. We do encourage always building your finances up first, though.
What are your thoughts on the topic? Start a conversation in the comments below or in our forums.