Financing plastic surgery is not like financing a car or a home. Banks, as you may have guessed, are very careful about who they loan plastic surgery money to. They will very carefully consider your credit history, including late payments, defaults, your bill payment history, and how long you’ve had credit accounts. A loan to pay for plastic surgery is an unsecured debt, meaning there’s not collateral for the bank to repossess in the event of a default.
Your credit score will likely have to be above 700 to avail yourself to this kind of plastic surgery financing. Some companies that lend money to finance plastic surgery make a determination based on credit score alone. This is a score that can range from 365 to 870, obviously, with a higher score being better.
If you choose to have plastic surgery, you will pay the surgeon’s fee, operating room cost, anesthesia, and a device fee if your surgery involves an implant of some sort. It is important to consider all the costs before committing to having plastic surgery. In 2006, surgeon’s fees averaged around $3,000, but that average represents a range that takes in the relatively small average fee of $175 for microdermabrasion and the relatively large average fee of around $4,800 for a face lift.
You do not have to borrow the entire cost of your plastic surgery. Many plastic surgery financing companies will make loans ranging from a low of around $2,000 up to $20,000. It will depend on your credit history. In many cases, the smaller the loan you ask for, the more likely you are to be successful. Some prospective patients will take out a loan for part of the costs and pay for the rest of it with cash or a credit card.
A company called CareCredit issues a credit card that allows patients to finance health care costs (including costs for elective cosmetic surgery) with a network of over 100,000 doctors in the U.S. Once you have the CareCredit card, you and your doctor work out a payment plan. CareCredit is only for paying for medical services, and it is possible to get no interest financing in many cases, though not all doctors offer this type of payment plan.
While the best way to pay for plastic surgery is to save up for it, not everyone is so patient or disciplined. Fortunately, there are finance companies that will make loans to people seeking cosmetic surgery and even credit cards designed to help people pay the high costs associated with plastic surgery.