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Predatory Practice Of Medical Credit Cards Under Investigation

Predatory use of medical credit cards under investigation. (Photo: WalletHub)
Predatory use of medical credit cards under investigation. (Photo: WalletHub)

The use of medical credit cards is under investigation for predatory practices.

Medical credit cards under fire for having predatory practices. (Photo: Triage Cancer)

Medical credit cards are under fire for having predatory practices. (Photo: Triage Cancer)

Medical Credit Card Pros And Cons

Medical credit cards are mainly used as alternatives. Medical credit cards are usually used to spread expenses.

Out-of-pocket expenses can be expensive so medical credit cards are used to somehow spread such big finances. Medical expenses that aren’t covered by insurance can be saved through medical credit cards.

But recently, the federal government has launched an investigation into medical credit cards. The practice of using medical credit cards is recently called predatory.

According to a published article by Nevada Current, there aren’t specific regulations for Nevadans in terms of the use of medical credit cards. Consumers also don’t have a way to file complaints in line with medical credit cards.

Use A Medical Credit Card Or Not?

In a published article by Elder Law Answers, there is said to be more than $195 billion of medical for individuals in the US. Using a medical credit card may come with both advantages and disadvantages which is why planning expenses and other ways to pay may help when done ahead of time when anticipating a medical debt may help.

READ ALSO: AOC Champions Student Loan Forgiveness While Navigating Up To $50,000 In Student Debt: A Closer Look At Capitol Hill’s Debt Dilemma

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