##Considering Different Payment Options
When faced with a significant bill like a $4,300 payment at a dentist’s office, it’s important to carefully consider your payment options. Here are some factors to keep in mind when deciding how to pay for your dental work:
### Care Credit or Cherry App:
– CareCredit and Cherry are both popular options for financing medical expenses. CareCredit functions as a healthcare credit card, offering promotional financing options for a set period. Cherry, on the other hand, provides loans with a fixed APR after the initial promotional period. Consider the terms and APR rates of both options before making a decision.
### New Credit Card with Promotional APR:
– Applying for a credit card with a 0% interest rate for a certain period can be a good way to manage your dental expenses. Make sure to check the length of the promotional period as well as any fees or potential impact on your credit score.
### Paying Out of Pocket:
– If you have the financial means to pay for the dental work upfront without taking on any additional debt, that could be a good option. Consider the impact on your savings goals and overall financial health before making a decision.
##Factors to Consider When Choosing a Payment Method
### Credit Score Impact:
– Taking on new debt or utilizing existing credit cards can affect your credit score. Consider how each payment method may impact your credit utilization rate and overall credit score.
### Interest Rates:
– Compare the APR rates of different financing options to determine the total cost of borrowing. Look for the option that offers the lowest interest rate to minimize the amount you’ll pay in the long run.
### Financial Goals:
– Consider your long-term financial goals, such as saving for a property purchase, when deciding how to pay for your dental work. Choose a payment method that aligns with your financial objectives.
##Conclusion
In conclusion, when faced with a $4,300 payment at a dentist’s office, carefully evaluate your payment options to choose the method that best suits your financial situation and goals. Whether you opt for CareCredit, a new credit card, or paying out of pocket, make sure to consider factors like credit score impact, interest rates, and financial objectives. Remember to make an informed decision that aligns with your overall financial health. Good luck with your dental work and financial journey! 🦷💰
Is the dentist charging you interest? If not, just pay them monthly.
Pay it in full at the end of every appointment. Don’t acquire more debt if you don’t have to-otherwise you might be tempted to delay paying it off. I’m not a fan of the 0% interest cards because in between now and 24 months, something else will happen that you’ll need to pay for, and that money will go elsewhere instead of to the balance on the card. And that’s exactly what the credit card companies are banking on. They don’t offer those payment terms to be nice.
I would first check out Dental Savings Plans as they could quite possibly save you some major money
[https://www.dentalplans.com/](https://www.dentalplans.com/)
Just ask them to setup a payment plan, worst they can say is no.
If you have the money, ask if you can get a payment in full, cash discount.
See if you can get a cash discount. If not I’d get a cash back/travel card with a bonus and pat off as I go.
If you have cash, try to get cash discount (my friend’s clinic does that).
I think many offices uses care credit rather than their own financing.
If you want to pay with CC, sign up chase ink cards for SUB. With Ink unlimited, you’ll get 6450 pts and 75000pts bonus after you spending 1.7K extra.
Even with a credit card you will have monthly payments so your cash flow is affected anyway. I wouldn’t do another hard credit inquiry and rack up $9,000 total of CC debt with a ticking time bomb of deferred interest (Care Credit) as a strategy to raise your credit score! Pay down your current debt, use your cash on hand for the dental work, and your credit score will increase right on time for your home purchase.
I just wanted to put it out there that I would get a second opinion about that big of a dental bill. I’m not saying it’s not legit, but if it’s one of the chain dentists, they are likely gauging the fuck out of you. My wife went to one and she’s barely had a cavity in our 19 years together. They told her over $5k. She went to my dentist and he said she might possibly have 1 tiny cavity. Your dentist might check out, but wanted you to be aware of the possibility. If everything is legit, I’d use a credit card and just pay it off that month.
Credit card -> Balance transfer, get those points
For that money you can go to mexico, get your teeth done, have a vacation, and probably will have even money left over….
If you have high deductible regular health insurance with an hsa you can use your hsa card to pay and save on taxes even without dental insurance.
Also since they seem to be suggesting doing the work over time, it may be worth seeing if you can wait and get dental insurance to have the work done. Running the numbers to make sure this would save you money and make sure waiting wouldn’t cause additional problems of course
Put each month on the card with the best rewards you want to acquire. Pay off that card every month.
I put dental work on a cash back card with 0% interest for 12 months. It was a new card for me and I got it specifically for that purpose.
Buy a round trip ticket to Mexico or India… get work done… spend a day at the beach.
I’ve done a few different things in this situation over the years. When my daughter needed wisdom teeth out I talked to the doctor and negotiated a cash deal. We went on a Sat. morning, paid 1500 cash and she got her wisdom teeth out. vs. 3800 to insurance with a 2000 deductible.
Next thing is to do pre-payment. Knock out about half of the payment before getting it done – then do it and pay off the rest – usually interest free. We did this with first baby obstetrician with no insurance (30 yrs ago).
Third is put it on a card that gives you something – miles or cash back. Worst option but its something.
I have not tried but did come across this pod: about negotiating medical bills
[https://www.npr.org/2023/03/24/1165953653/medical-bills-debt-negotiation-forgiveness](https://www.npr.org/2023/03/24/1165953653/medical-bills-debt-negotiation-forgiveness)
Look into getting a second opinion or going to a university with a dental school to get dental care. The dental work at the university can be 1/3-1/2 the price of a private dentist because you will have a student or resident do the dental work with careful oversight from a licensed dentist.
I paid for my daughters wisdom teeth extraction with visa gift cards (5x points Chase Ink)
if you want look up the local dental school.. they can work on you for 2/3 less
Isn’t it in Mexico or Canada or turkey your work cost about $100 to $200 or $500 max?
What’s happening in 4-5 months that you would be able to pay off all this CC debt?
Are you in the US? Look up Delta Dental insurance. It costs me $250/year and has a price list of procedures. Root canal was maybe $500 instead of $2K out of pocket, for example. I have the Delta USA plan.
Some dentists are like used car salesmen. They push shit that you don’t need and they are just trying to make a buck. You know you are at one when they are pushing for wisdom teeth removal without being necessary. I would go somewhere else like others are saying sounds like you found a scummy dentist. Also try and look at getting dental, it’s normally not super expensive.
Credit card with a nice sign up bonus. Like Chase ink preferred.
The best answer, is the method where you pay no interest and somehow gain some benefit. Like you get reward points on a credit card and pay it off at the end of the month.
Second best is the choice where there is no interest.
A distant third choice is where you pay the least amount of interest possible.
Pay as you go. If you have the ability to pay each Month it does not make sense to carry the debt any any interest rate if you plan to buy a home within a year.
Get a second opinion. I know numerous people quoted 3-5k for dental work where 80% of that quote was deemend unnecessary work by another dentist. You would not believe how many dentists will willy nilly quote you 3-5k for “filling, crowns, extractions etc” when there is nothing actually majorly wrong. Im going through the process now after recently moving, of having one new dentist say i need this this and that, when i have all 32 teeth and never had a cavity prior to this year (not saying shes wrong, but it just seems odd that someone with no mouth pain, all 32 teeth, never had a cavity) would need all this work done…..that she so conveniently does too.
How has no one said this, you pay with an HSA account if possible. Anything remaining whatever credit card you collect points on.
If you pay cash, and have it available (legally), run the money through an HSA. An example.. Fidelity has a HSA (health savings account) that you can transfer money in from your checking account and issues you a credit card to pay with.
By doing this simple maneuver all your dental costs are 100 percent deductible off your gross income. Obviously there are rules, limits and qualifiers, but if you meet them, they are a great tax break. It also can take a very short time between deposit and usage, so it doesn’t take much cash flow.