Best Credit Cards to Pay for Medical Expenses

 

Comparing the best credit cards for healthcare expenses

For a high-level overview of the best credit card options for medical expenses, refer to the following summary table:

A closer look at the best credit cards for medical expenses

We will have a deeper dive into each of the cards in the following format:

Wells Fargo Reflect Card

Medical rewards and benefits: N/A

Annual Fee: N/A

Intro APR: 0% intro APR period for 21 months from account opening

Regular APR: 17.99%-29.99%

Signup bonus: N/A

Our verdict: The Wells Fargo Reflect Card is the best credit card for medical expenses when the focus is on debt consolidation. Despite not offering any earnings categories, the long introductory APR period means a person can pay off their medical debt without needing to worry about any interest.

Pros:

• Long-lasting introductory APR period is perfect for balance transfers.

• Low starting APR rate for those with higher credit.

• No annual fee.

Cons:

• No sign-up bonus.

• No rewards earnings categories.

Apply now: Wells Fargo Reflect®

AARP Essential Rewards Mastercard from Barclays

Medical rewards and benefits: 3% cash back at gas stations and drugstores and 2% back on medical expenses.

Annual Fee: N/A

Intro APR: Earn 0% intro APR for 15 months on balance transfers made within 45-days.

Regular APR: 12.74%, 25.74%, or 29.99%

Signup bonus: Earn $200 cash back after spending $1,000 on purchases in the first 90 days.

Our verdict: For those who are only concerned with receiving cash back on their medical expenses and not worried about earnings in other categories, the AARP Essential Rewards card is an excellent choice. The starting APR of 12.74%, depending on creditworthiness, is extremely low, making this also a great option for those consolidating debt.

Pros:

• Flat 2% back strictly on any medical-related purchases.

• Low APR rate for those with qualifying credit scores.

• No annual fee.

Cons:

• Low sign up bonus.

Apply now: AARP Essential Rewards Mastercard from Barclays

Learn more: AARP Essential Rewards Mastercard Review

Citi Custom Cash Card

Medical rewards and benefits: 5% cash back on your top eligible spend category and 1% unlimited cash back on all other purchases.

Annual fee: N/A

Intro APR: 0% intro APR for 15 months

Regular APR: 18.99%-28.99%

Signup bonus: Earn $200 cash back after spending $1,500 on purchases within the first six months from account opening.

Our verdict: When considering the best credit card for healthcare expenses, the Citi Custom Cash Card can be tailored in such a way that it provides a large amount of cash back. Assuming your medical expenses qualify for one of the 5% cash back categories, a large amount can be earned. Otherwise, the blanket 1% cash back on major medical expenses, combined with the 0% intro APR, can provide a person with plenty of earnings.

Pros:

• Long-lasting introductory APR period.

• No annual fee associated with the card.

• Low starting APR.

Cons:

• Low sign-up bonus compared to other offerings.

Apply now: Citi Custom Cash℠ Card

Learn more: Citi Custom CashSM Card Review

Chase Freedom Flex

Medical rewards and benefits: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories every quarter, 5% cash back on travel purchased through Cash Ultimate Rewards, and 3% cash back on drugstore purchases and dining at restaurants.

Annual Fee: N/A

Intro APR: 0% intro APR on purchases for 15 months

Regular APR: 20.24%-28.99%

Signup bonus: $200 bonus after spending $500 within the first three months of account opening.

Our verdict: While the Chase Freedom Flex earnings categories aren’t geared specifically towards medical expenses, the multiple earnings categories mean this card can be used for daily expenses. In addition to this, the blanket earning category for all other purchases can result in plenty of reward earnings for medical expenses.

Pros:

• No annual fee associated with the card.

• Long-lasting introductory APR period.

Cons:

• Small sign-up bonus.

• Earnings categories aren’t geared towards medical expenses.

Apply now: Chase Freedom Flex

Wells Fargo Active Cash Card

Medical rewards and benefits: 2% cash back on all purchases.

Annual Fee: N/A

Intro APR: 0% intro APR for the first 15 months.

Regular APR: 19.99%, 24.99%, or 29.99%

Signup bonus: Earn $200 cash rewards after spending $500 within the first three months of account opening

Our verdict: The Wells Fargo Active Cash Card is an excellent option for those looking to earn cash back from their medical expenses while also consolidating debt. The long-lasting 15-month introductory APR period means medical expenses can be put on the card without the worry of paying back too much in interest. In addition to this, the blanket 2% in cash back means healthy rewards can be earned from medical expenses.

Pros:

• Long-lasting introductory APR period.

• Low starting APR for those with strong credit scores.

• No annual fee to use the card.

Cons:

• Lower rewards earnings compared to other credit cards.

• Low sign-up bonus for cardholders.

Apply now: Wells Fargo Active Cash® Card

Learn more: Wells Fargo Active Cash® Card Review

Blue Cash Everyday Card from American Express

Medical rewards and benefits: Earn 3% cash back on supermarket purchases, 3% cash back on online retail purchases, 3% cash back on gas, and 1% cash back on all other purchases.

Annual Fee: N/A

Intro APR: 0% intro APR for 15 months

Regular APR: 18.99%-29.99%

Signup bonus: Earn $200 back after you spend $2,000 in purchases within the first six months of account opening.

Our verdict: The Blue Cash Everyday Card is one of the best rewards credit cards for medical expenses due to the blanket 1% unlimited cash back it offers on all purchases. In addition to this, the card offers a 0% introductory APR rate on top of numerous other earnings categories. This makes it an excellent everyday carry card in addition to a solid card to use for medical expenses.

Pros:

• Multiple different rewards earning categories.

• Long-lasting introductory APR period.

• No annual fee associated with using the card.

Cons:

• Small sign up bonus.

Apply now: Blue Cash Everyday® Card from American Express

Discover It Cash Back

Medical rewards and benefits: 5% cash back on everyday purchases each quarter up to the quarterly amount and 1% cash back on all other purchases automatically. Unlimited cash back match for the first year.

Annual fee: None

Intro APR: 0% intro APR for 15 months.

Regular APR: 16.99%-27.99%

Signup bonus: N/A

Our verdict: For those who don’t foresee needing a medical credit card in particular, the Discover It Cash Back is an excellent option for all-around expenses. The 5% cash back on all purchases up to a certain amount per quarter means large amounts can be earned in cash back. However, the unlimited cash back matching for the first year means any rewards earned from putting medical expenses on this card would be matched, which makes it one of the best.

Pros:

• Long introductory APR period.

• Low starting APR for those with stronger credit.

• No annual fee on the card.

Cons:

• No signup bonus.

• Not necessarily geared toward medical expenses only.

Apply now: Discover it® Cash Back Credit Card

How to choose the best card to pay for medical expenses?

Figuring out the best credit card to use for medical expenses can be extremely challenging consider just how costly medical expenses can be. However, there are a few key strategies any person can use to determine the right option for their unique needs:

1. Figure out your debt

First and foremost, a person needs to figure out the debt that they already have outstanding. This is important as it is the amount you are already “in the hole” so to speak. By calculating this figure, then adding the upcoming medical expense to it, you can determine how much your total debt will be and determine the interest based on your APR. This figure can then be used to guide you toward the best medical credit card with a low APR.

2. Decide if you want rewards

As evidenced by the above list, a number of the best cards for medical expenses also come with rewards categories for spending. Given how expensive medical costs can be, the rewards opportunities may be great if they fall within the general categories of a rewards card. Consider if this is of value to you when thinking about different cards.

3. Compare 0% APR offers

A number of the best credit cards to pay for medical expenses will come with an introductory 0% APR period, but the actual length of time this lasts will vary. Consider the different time-frames offered by potential cards to see which has the longest period as this will allow you to pay off your debt interest-free for as long as possible.

Methodology

When considering the what is the best credit card for paying medical bills, a variety of factors were taken into account. The most notable of these factors which were used as methodology for this roundup include:

• Whether there was a 0% introductory APR period and how long it lasted.

• Rewards earnings for a credit card if there were any at all.

• Bonus perks offered by holding the credit card.

• Annual fee of the credit card if applicable.

• The long-term cost associated with holding the card.

The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you to visit the respective card’s website before proceeding.