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Dental Loans: What You Need To Know Before Financing Dental Work – Forbes Advisor

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Trips to the dentist can be scary—and that’s before you have to worry about paying for the bill. Even if you have dental insurance, most plans come with an annual benefit maximum that the carrier will pay out (often $1,000 to $2,000), so you still may have to cover some costs out of pocket.

If you need any significant dental work done—especially if it’s been a while—it’s quite common to blow past these limits and have to pay the remainder. Unfortunately, this high cost is what keeps a lot of people from getting care in the first place.

But the bill doesn’t have to give you a toothache, too. Dental loans can help you bridge that gap so you can get the care you need—if you know how to use them.

What Are Dental Loans?

Dental loans are a special type of personal loan. They’re cousins to medical loans, which are also a type of personal loan that can be used to pay for healthcare.

You can get a generic personal loan that you can use for just about anything, although many lenders offer loans that are specifically meant for dental work. These dental loans sometimes come with lower interest rates or different term lengths and borrowing amounts, so they may work better for you than just a generic personal loan.

Dental loans are unsecured loans, which means they aren’t backed by any collateral that the lender can take back if you default on the loan. For example, a lender can repossess your car if you don’t pay because auto loans are secured loans, backed by your car as collateral—but they can’t take back your fillings.

In general, unsecured loans tend to be more expensive than secured loans because they pose a greater risk to the lender. But as we discussed above, dental loans may still be cheaper than other types of unsecured personal loans.

What Can I Use a Dental Loan For?

You can use a dental loan to pay for just about any type of dental work, including cosmetic dental procedures. This is especially handy because cosmetic procedures can be very expensive. Here’s an example of the costs of some common dental work that you can use dental loans for:

  • Cleaning, with X-rays and a dental exam: $140 to $600
  • Resin composite fillings: $90 to $250
  • Root canal on a molar tooth: $500 to $2,000
  • Porcelain crown: $800 to $3,000
  • Porcelain veneers: $925 to $2,500 per tooth
  • Teeth whitening: $500

How to Get a Dental Loan

There are a few ways you can apply for a dental loan. Most dentists actually offer financing plans, especially those who offer cosmetic dentistry. This may be an in-house financing plan from the dentist herself, or through a lender the dentist is partnered with. Check with your dentist’s office to see what financing plans they offer.

You also can apply for a dental loan with a third-party lender elsewhere. You can find loans for dental work in many of the same places as personal loans, including online lenders, banks and credit unions. Even if your dentist office offers its own financing, it’s still a good idea to shop around and see if you can get better rates elsewhere.

When you’re shopping around, it’s fine to check your rate by entering your Social Security number, name, address and other personal information. Just be sure that the lender is doing a soft credit check, so that it doesn’t affect your credit score. This prequalification process will enable them to give you a more customized rate.

When you are ready to choose a lender, you can complete the application, which will require a hard credit check and show up as a mark on your credit report. You may need to provide extra documents like past tax returns, pay stubs and bank account statements to finish the application.

What to Consider When Choosing a Dental Loan

Choosing the best dental loan is similar to choosing any other type of personal loan. Generally, it’s best to choose the loan with the lowest interest rate and fees, which are expressed together as the annual percentage rate—or APR. Here are some other things you may consider taking into account, too:

  • Funding time. Do you need the money within a certain time frame?
  • Customer service. How good of a reputation does the lender have?
  • Term lengths. Do they offer term lengths that allow you to pay off the debt as quickly as possible while still keeping your monthly payment manageable?

Dental Loans for Bad Credit

It’s usually much easier to qualify for dental loans if you have good or excellent credit, usually defined as 670 or above. But people with bad credit need dental work done, too.

It’s usually still possible to find dental loans for bad credit or even dental loans with no credit check, but you may need to work harder to find these lenders. You also may need to pay higher rates to qualify.

Payday loans can seem like a good option for no credit check dental loans, but we always advise against them. If you have bad credit, getting a dental loan and making all of your payments on time can be an important way to build your credit score, so you can qualify for better loans and credit later.

Payday loans, however, don’t report to credit bureaus so you get no benefit from the loan. In addition, they’re so expensive that many states have outlawed them entirely.

Alternatives to Dental Loans

If you need dental work and can’t pay for it out of pocket, dental loans aren’t your only option. Here are a few other things to consider:

0% APR Credit Cards

Many credit cards offer an introductory 0% APR period on purchases after you sign up for the card. For a certain number of months (usually between six and 20 months), you won’t pay any interest on the charges that you make.

You can actually use this to your advantage and open the card right before you need dental work. Then, charge your procedure to the card and pay it off before the end of the 0% APR period. If you divide the charge by the length of the intro offer, you can set up automatic payments for that amount so that it’s entirely paid off by the end. That way, you can essentially get an interest-free loan.

Save Up

If you’re planning to schedule cosmetic work, it might be best to save up in a high-yield savings account first. That way you can earn interest on your savings, rather than paying interest to a lender.

We wouldn’t recommend putting off necessary dental care like fillings and routine cleanings, however, as doing that can lead to even more expensive (and painful) problems down the road. But if you can afford to wait for voluntary procedures, that’s usually the best option.

Shop Around

The cost of dental care can vary widely even among dentists in the same area. If you’re going in for a routine cleaning and exam, it can make sense to call around town and see what different dentists are charging.

If you’ve already gone in for an exam and you know you need more expensive dental work, you can still shop around—but you may need to have your records transferred from your old dentist to your new dentist. And besides, getting a second opinion is always a good option, especially for expensive procedures like braces or root canals.

Use a Medical Credit Card

There aren’t really any dental-specific credit cards available, but you can usually use medical credit cards to pay for dental work too. These credit cards are only accepted by specific offices, so be sure to confirm with your dentist that they take the credit card you’re considering before you apply.

Many medical credit cards offer “deferred interest” financing, which is similar to 0% APR financing, except that you need to pay it off before the end of the interest-free period. If you don’t, you’ll be charged interest retroactively from the very first charge, so you won’t actually be saving any money at all.

This is often a good option if you know you’ll need several procedures in the near future, such as multiple appointments to get fillings done. Rather than taking out one lump-sum dental loan, you can pay for the charges as they come up so you’re not paying interest on money you don’t yet need. As a bonus, you may also be able to use it for healthcare costs.

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Loans Bad Credit Online – PNC Personal loan 2021 Review | Fintech Zoom

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Loans Bad Credit Online – PNC Personal loan 2021 Review

Top perks

Low minimum loan amount

Customers can borrow $1,000 to $20,000. That minimum loan amount of $1,000 is unusual in the personal loan industry. A low minimum threshold means you can get the cash you need to cover small emergencies without being tied down to a larger loan.

Wide range of repayment terms

You have between 6 and 60 months to repay the loan. There are pros and cons to longer repayment terms, so this flexibility allows you to customize your term to your situation.. With PNC, you have the option of designing a repayment plan that fits your monthly budget.

Joint applicants welcome

Whether you need a joint applicant’s high credit score to qualify for a lower loan interest rate or someone has decided to co-assume responsibility for a personal loan, PNC allows for joint applicants.

What could be improved

Terms depend on location

The first thing you will be asked is where you live. On its loan homepage, PNC states that “PNC product and feature availability varies by location.” While this may be good news for borrowers in some areas of the country, it could be bad for others. You’ll need to see what it means for you.

Lowest interest rate reserved

If you’re looking to borrow enough to make repairs to your roof or buy a new furnace, you might not borrow enough to qualify for PNC’s lowest advertised interest rate. That’s because that low interest rate is reserved for those borrowing more money. For example, PNC will automatically assign a $5,000 loan a higher interest rate than a $15,000 loan.

Loans Bad Credit Online – PNC Personal loan 2021 Review

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Loans Bad Credit Online – Loans Bad Credit Online – PNC Personal loan 2021 Review | Fintech Zoom | Fintech Zoom

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Loans Bad Credit Online – Loans Bad Credit Online – PNC Personal loan 2021 Review | Fintech Zoom

Loans Bad Credit Online – PNC Personal loan 2021 Review

Top perks

Low minimum loan amount

Customers can borrow $1,000 to $20,000. That minimum loan amount of $1,000 is unusual in the personal loan industry. A low minimum threshold means you can get the cash you need to cover small emergencies without being tied down to a larger loan.

Wide range of repayment terms

You have between 6 and 60 months to repay the loan. There are pros and cons to longer repayment terms, so this flexibility allows you to customize your term to your situation.. With PNC, you have the option of designing a repayment plan that fits your monthly budget.

Joint applicants welcome

Whether you need a joint applicant’s high credit score to qualify for a lower loan interest rate or someone has decided to co-assume responsibility for a personal loan, PNC allows for joint applicants.

What could be improved

Terms depend on location

The first thing you will be asked is where you live. On its loan homepage, PNC states that “PNC product and feature availability varies by location.” While this may be good news for borrowers in some areas of the country, it could be bad for others. You’ll need to see what it means for you.

Lowest interest rate reserved

If you’re looking to borrow enough to make repairs to your roof or buy a new furnace, you might not borrow enough to qualify for PNC’s lowest advertised interest rate. That’s because that low interest rate is reserved for those borrowing more money. For example, PNC will automatically assign a $5,000 loan a higher interest rate than a $15,000 loan.

Loans Bad Credit Online – PNC Personal loan 2021 Review

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Loans Bad Credit Online – Loans Bad Credit Online – PNC Personal loan 2021 Review | Fintech Zoom

Tags: Loans Bad Credit Online

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Loans Bad Credit Online – Badger Advisors Gets Bad Review For Credit Card Refinancing | Fintech Zoom

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Loans Bad Credit Online – Badger Advisors Gets Bad Review For Credit Card Refinancing

Editorial Credit: Djomas

Badger Advisors wants you to believe they are offering credit card refinancing and have begun flooding the market with debt consolidation and credit card relief offers. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2021 Reviews, the personal finance review site, has been following Badger Advisors, Rockville Advisors, Old Dominion Associates, Sooner Partners, Snowbird Partners, Gulf Street Advisors, Memphis Associates, Safe Path Advisors, Plymouth Associates, Tate Funding, Braidwood Capital, Tiffany Funding, Nickel Advisors, Coral Funding, Neon Funding, Polk Partners, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates, and Pine Advisors, etc.).

Editorial Credit: Ollyy

Credit Card Refinancing

Credit card refinancing is a possibly feasible solution for your piling credit card debt. Under credit card refinancing, all of your credit card balances go into one account where a single interest rate is charged. If you have a good enough credit score, then you may be able to qualify for credit card refinancing at low-interest rates. Just like other refinance options, credit card refinancing also entails a loan offer to pay off your debts and improve your financial health. You will then have to focus on the credit card refinancing loan only and no other credit card balance.

Another major advantage of credit card refinancing is that the interest rate will not vary over the lifecycle of the loan. This will simplify your life a lot and make debt servicing much easier since you will know how long it will take for you to pay back your loan. With variable interest rates that you often find in credit cards, you can end up incurring higher interest expenses. But with a fixed interest rate that credit card refinancing purveys, you will not have to face this unwelcome possibility.

With the right kind of credit card refinancing loan, you can possibly save hundreds and even thousands of dollars on interest expenses this way. Of course, you will have to be punctual with your monthly repayments. If the terms and conditions of your credit card refinancing loan are favorable then you may very well embark on the road to financial freedom and get there before you know it.

Is There Any Difference Between Credit Card Refinancing and Debt Consolidation?

From the aforementioned discourse, you may have realized that credit card refinancing is very similar to debt consolidation and that indeed is the case. Both are about settling all debts with one favorable loan so that you can focus on this loan only and enjoy its lenient terms and conditions to rebuild your credit score and gradually work your way towards debt freedom.

Provided the terms and conditions of your credit card refinancing loans are suitable, this financial option represents a viable route for managing and paying off your outstanding liabilities in a better way.

Why Credit Card Refinancing loan May be Better

A credit card refinancing loan may be a better choice than a balance transfer card. The idea of a balance transfer card is to take advantage of the zero APR introductory period that usually lasts from 12 to 18 months. However, there are a few caveats due to which a balance transfer card may not exactly be a good idea.

The zero APR period may look tempting but it still may not be long enough to pay off your entire credit card debt. And that is unfortunate because once the zero APR limit expires then you will have to pay very high interest and you may even incur penalties. Then there is the question of balance transfer fees that can offset the advantages of the zero APR time frame.

Another problem is that the credit limit of the balance transfer credit card may not be big enough to accommodate all of your credit card balances. This is a real possibility since your credit card debt is high to begin with and it may not fit within the credit limit of the balance transfer card.

Then there is the danger of spending with the balance transfer credit card. The inability to control spending and use of credit cards is the very reason why people fall into credit card debt traps in the first place. This possibility is very much open and present with balance transfer cards. Instead of helping you, they may worsen your debt situation since they too are credit cards that are all too easy to misuse. What’s worse, they have exorbitant interest rates.

Such a scenario cannot transpire with a credit card refinancing loan since it is not a credit line – this loan immediately goes towards paying off your credit card balances due to which there is no peril of misuse. Instead of getting another credit card in the shape of a balance transfer card it is much safer to freeze all of your cards and repay your debts.

If you do your research on credit card refinancing then you might find that some people also include balance transfer credit cards under this heading. But due to the drawbacks mentioned above, you should try to steer clear of balance credit cards and instead take out a personal loan for the sole purpose of repaying your credit card debts.

The prime advantage of credit card refinancing is that they can provide you with a low interest rate if you have a good enough credit score.

How to Make Credit Card Refinancing a Success

While credit card refinancing provides good terms and conditions, it is not a magic elixir that will cure all of your financial woes.

To make your credit card refinancing a success, you will have to follow some good money habits and exercise discipline at the same time.

You should try to find extra sources of income. You can think about working overtime at your job if that is possible. If not, you can opt for freelancing gigs and projects. Even if you earn a few hundred dollars through this route each month, it will prove to be of great assistance in helping you become debt-free more quickly.

You should also think up ways of saving on expenses. A major reason why consumers incur enormous debts is that they do not track their spending. This is a habit that you must remedy forthwith if you wish to get out of your financial predicament quickly. No matter how little your expense, make sure you record it somewhere secure. You can utilize apps to record your transactions. Thus, you will know the areas on which your spending is inordinate. You will also be able to compare your spending with your planned budget.

You should get in touch with your financial advisor to find out whether credit card refinancing is right for you.

Loans Bad Credit Online – Badger Advisors Gets Bad Review For Credit Card Refinancing

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