Cosmetic surgery has become a popular medical tourism procedure across the globe. For British people especially, this has become rampant because in most cases the surgery is not performed on NHS. It means that patients are forced to look for the services overseas in search of attractive deals.
The Popularity of Cosmetic Surgery
Across the globe, cosmetic surgery is made available to medical tourists with multiple countries positioning themselves as global centres for the treatment. Poland, mainly Warsaw, for instance, is a leading cosmetic surgery destination for Europeans due to its favourable treatment costs, while Brazil and Latin America are the main spots for the Americans.
Although plastic surgery can be expensive, a lot of people are undergoing the procedure. With many procedures costing thousands of Euros today, from tummy tucks, face-lifts and liposuction, patients are looking for ways of financing the surgery.
If you cannot afford to pay in cash and your health insurance cover fails to cater for the costs, there are different ways to finance your cosmetic surgery. Consider the following options carefully, and be sure to compare cosmetic surgery abroad cost with the local charges.
Cosmetic Surgery Payment Options
If you are considering cosmetic surgery overseas, begin by determining an ideal location. How much does cosmetic surgery abroad cost and is their deal better than that of the local providers? Then, determine the best way of financing the services. Here are just but a few.
Medical Credit Card
Like your traditional credit card, a medical credit card can be used to pay for your plastic surgery. You will then be required to make a monthly deposit to the credit card company. These, however, are different from credit cards, because you can only use them for healthcare needs.
Note, however, medical cards present high-interest rates despite the presence of promotional deferred-interest offers. It means you may get a 0 percent promotion for some period after signing up for the first time. Paying the balance before the deferment kicks in could also mean being exempted from interests.
If you do not have a low-interest credit card, apply for a new one and ensure it comes with a 0 percent introductory period. Should the card have a favourable interest rate, you will pay for your surgery comfortably as you work towards building your credit.
However, it is important to note that expensive purchases such as plastic surgery can lower your credit utilisation ratio, which could negatively affect your credit score. In that case, pay less than 10 percent interest and do not purchase anything else using the card. Before the expiration of the introductory rate, ensure your balance is cleared.
A personal loan from a credit union, an online lender or a bank can get you off the hook. Taking out a personal loan will mean following a specific loan term while making payments on a monthly instalment. Most of these loans are unsecured, which means no collateral is needed. Unlike a credit card, a personal loan will not drive you into huge debts.
Unsecured Medical Loans
These are loans offered by third parties such as surgeons and brokers and are only used for medical procedures. Here, your personal financial details are reviewed to determine your capacity to repay. Note that the interest rates case can be high and sometimes tend to balloon after some time. Before signing, read the fine print carefully and shop around before settling.
Before embracing any financing option and thinking about having cosmetic surgery abroad, consider your credit score, APRs and fees and your budget. It is important to understand that financing can be costly. The most important aspect is to know what you can afford, identify the best surgeon and determine how the operation will affect your bottom line.