Healthcare Credit Cards Carry High Risk

Posted by Lisa Blackwell on March 2 2011 @ 11:05 am

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Getting a credit card through a healthcare provider could prove to be risky. Those that are in need of filling the gap between health insurance coverage and the final medical bill amount may want to stay away from healthcare credit cards.

When looking for a way to cover costs, it is best to check for all of one's options before jumping to a decision. It is better to look for non-credit card options, such as loans, in order to find the necessary funds.

New York Attorney General Eric Schneiderman is wary of healthcare credit cards. Schneiderman, along with New York governor Andrew Cuomo, have both looked into the healthcare credit card issue. Cuomo investigated healthcare providers last year, as some were putting pressure on customers to obtain GE Money CareCredit services. The card's sales pitch was not honest and was giving those looking for a safe way out of healthcare bills false hope to solving their issues, according to Consumer Affairs.

Those that avoid such programs will not have to deal with the credit card relief that is considered to come with the territory. Healthcare credit cards have a tendency to give benefits to healthcare providers, which is a big reason as to why these companies promote them to such an extent.

Timely articles written by the Editors at DRC

New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.

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