Making Medical Procedures More Affordable in Canada
Elective medical procedures, such as cosmetic surgery and fertility treatments, can be life-changing but often come with significant costs. Many Canadians struggle with how to pay for these procedures, and while credit cards may seem like an easy option, they can quickly lead to high-interest debt.
A smarter solution? Medical procedure financing in Canada through Medicard by iFinance, which offers competitive rates starting at 7.95%, with 0% interest financing available at select participating healthcare providers. This allows patients to access the care they need without financial stress.
For dental treatments, Dentalcard by iFinance provides a dedicated financing solution, ensuring that patients can afford necessary dental procedures without relying on costly credit cards.
In this article, we’ll compare credit card payments vs. medical financing and explain why Medicard and Dentalcard are better choices for Canadians seeking affordable healthcare financing.
The Downsides of Using Credit Cards for Medical Expenses
Many Canadians rely on credit cards to pay for elective medical procedures, but this can lead to financial strain in the long run.
One of the biggest concerns is high-interest rates. Most credit cards in Canada charge anywhere from 19% to 25% APR or more, meaning that a patient could end up paying thousands more than the actual cost of their procedure. This can quickly turn into long-term debt, making the procedure far more expensive than anticipated.
Another issue with credit cards is unpredictable monthly payments. Because interest accrues over time, monthly payments can fluctuate, making it difficult to budget effectively. If a patient only makes the minimum payment, they could be stuck paying off their procedure for years.
Additionally, high credit utilization can negatively impact a person’s credit score. Using a large portion of available credit can lower scores, making it more difficult to qualify for future loans, mortgages, or other financing options.
Why Medicard & Dentalcard by iFinance Are Smarter Choices
Instead of relying on credit cards and accumulating interest, Medicard and Dentalcard by iFinance offer structured, stress-free financing solutions for elective procedures in Canada.
One of the biggest advantages of Medicard and Dentalcard is their competitive interest rates, starting as low as 7.95%. Additionally, 0% interest financing is available at select participating merchant/service provider locations, giving patients the option to finance their procedures at more affordable rates compared to traditional credit cards.
Another benefit is no upfront costs. Unlike credit cards, which may require a down payment or have hidden fees, Medicard and Dentalcard provide transparent financing with no surprises. Patients can apply for financing, get approved quickly, and focus on their treatment instead of worrying about payment terms.
Additionally, Medicard and Dentalcard have high approval rates, making financing more accessible for Canadians who may not qualify for traditional bank loans or who have less-than-perfect credit.
The application process is also fast and simple. Patients can apply online in minutes and receive an instant decision. Once approved, Medicard or Dentalcard pays the healthcare provider directly, eliminating the need for patients to handle payments themselves.
Which Financing Option is Right for You?
- For those considering cosmetic surgery or fertility treatments, Medicard by iFinance is the ideal financing solution. It provides flexible payment options with rates starting at 7.95%, and 0% interest financing may be available at select participating providers.
- For those needing dental procedures, Dentalcard by iFinance offers specialized financing tailored specifically for dental treatments. Whether it’s for implants, orthodontics, or other dental work, Dentalcard makes financing simple and affordable.
