When you need medical care, medical credit cards can help – – they can also hurt you financially in the future.  Medical credit cards usually offer interest free payments; however, at the end of that period (anywhere from three months to a year), if the balance is not paid in full then ALL past interest is added to the balance.  That interest can be as high as 27% or higher.  This creates a heavy burden on the consumer.

For more information about medical credit cards and what to consider before applying for one read, “What to Consider Before Applying for a Medical Credit Card.”