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No Interest/Low Interest Credit – Is It Right For You?

Wednesday, August 3rd, 2011

I was having fun opening my mail last night.  The first three envelopes were from different credit card companies, and each envelope contained four ready-to-use, pre-printed, “no-interest or low-interest” checks for my convenience.  Gee, it’s so easy – all I need do is sign my name.   I said to my husband, “look at this…unbelievable!  They’re throwing interest-free money at us again!”  He smiles and we spend a few moments joking about the phantom trips we’ll take, etc., but in all honesty, it hit home for me how great credit offers can turn dreams into nightmares if one doesn’t realize the steps to be taken to insure that good credit offers remain great.

We’ve all heard the expression “there’s no free lunch.” Usually a catch is attached to free offers, i.e., “hey, how about dinner and show on us,” (after you spend the next 4-5 hours of your vacation listening to a timeshare pitch)!  Well, in regard to credit offers the “catch” usually comes in the form of penalties and fees.  Credit companies are in business to make money and they cannot exist on profitless credit for everyone, thus it’s important to both read and understand the fine print.

If you never miss a payment deadline for the entire duration of the repayment process, these offers can be advantageous because you pay no or minimal interest while your savings continue to grow; otherwise, watch out!  That no-interest teaser can quickly become a steep retroactive 26.99% with additional $29.99 to $39.99 late payment fees per month if you don’t take the necessary steps to prevent it.   The good news is that penalties/fees are avoidable and good credit offers can be utilized to your advantage.

Simple suggestions to gleam the most from great credit offers while protecting yourself include:

  1. Pay off the entire balance as soon as you receive the bill.  You’ll gain the billing cycle interest free.  An obvious first choice, but not always practical.
  2. Set up an automatic electronic repayment debited from your checking or savings account. An electronic payment receipt from your bank eliminates any doubt that your creditor is receiving your payment on time and their fees or penalties do not apply to your account.  This also eliminates the possibility of your payment sitting in someone’s in-box and not posting or being lost in the mail prior to your payment deadline.
  3. Set up the electronic payment to be received at least 4 days prior to the actual due date. Paying 4 days early allows the extra time for due dates that occur over the weekend or land on a holiday.
  4. If you do not desire to pay your bills electronically, set up a “tickler” calendar specifically designed with flagged mailing dates to ensure your payment is received a day or so early.  For the best result, follow up this method with a call to your creditor to make sure your payment has been posted to your account prior to your due date.  If they say the check has not been received or posted, you have an opportunity to authorize an immediate phone payment in order to avoid penalties.

Today’s savvy consumer can reap the rewards of their great credit score with offers that are convenient and inexpensive.  We at Cosmetic Plastic Surgery and Skin Rejuvenation – Laser Institute in both Champaign-Urbana and Bloomington-Normal accept all major credit cards (Visa, MasterCard, Discover and American Express) including the no-interest and low-interest credit check offers that come to you in the mail.  We also offer multiple affordable financing options specifically designed for elective medical procedures, and tailored to the individual.

For additional information, please don’t hesitate to contact us at 217.359.7508, 309.662.0436 or 800.252.7123, or visit our financing webpage at https://www.cosmeticplasticsurgery.com/financing.cfm, where you can investigate, download and submit your financing application of choice.

G. D. Castillo, MD, FACS, Cosmetic Plastic Surgery, Skin Rejuvenation & Laser Institute

Become a Facebook Fan of CPS @  http://www.facebook.com/pages/Cosmetic-Plastic-Surgery/65943304419

https://www.cosmeticplasticsurgery.com Contact us:  https://www.cosmeticplasticsurgery.com/contact.cfm

800-252-7123, 217-359-7508 Savoy (Champaign-Urbana), or 309-662-0436 Bloomington

Financing for Convenience

Friday, March 4th, 2011

February decided to throw one last tantrum before giving way to the blue skies and warm sunshine “marching” us into spring – the season of new beginnings. Historically, it also is the time of year that an increasing number of people decide to take action on their desire to make positive personal changes. This may be partially due to prospective tax refunds burning a hole in our pockets, but I prefer to think of it as nature’s reminder of the necessity of rebirth, shedding our old skin and allowing the refreshing self-image of our mind’s eye to emerge.

Monetary considerations are of great importance to someone considering a procedure or treatment. Many people do not want to dip into their savings account(s), but also do not want to delay their procedure or treatment while waiting for a cash influx, such as a tax refund. For this reason, Cosmetic Plastic Surgery offers the convenience of several financing choices to our patients.

• Our practice participates in a revolving medical credit card plan allowing one to pay medical debt over time. This plan offers the advantages of maintaining an existing line of medical credit that is available for re-use in the future and widely accepted by medical facilities. This option also offers a 6-month interest free program. The rate for this program’s extended payment plans are pre set, and while this can be an advantage, someone with a very high credit score may command lower rates than those offered. For someone in this situation, other options should be investigated before making a final decision.

• We also are a participating practice with an independent lending company that has access to all sources of non-secured medical loans. Some are surprised to learn that multiple credit pulls (more than 2 in a short time frame) will automatically lower a credit score – this lending company has the advantage of accessing all credit possibilities with just one credit pull, thus maximizing the effect a high credit score will have upon rates/terms. While there are no application fees, the patient pays a fee for their services if a loan they arranged is accepted by the patient. This company works for you, the patient, not the financing industry, and the difference in rates and terms may offset any fee they charge for their services. It’s always important to ask about any fees in advance of making any financing decision.

• For those patients desiring a local or traditional lending option – we have made arrangements with a central Illinois credit union that is willing to work with our patients on both secured (collateral offered for loan) and non-secured medical loans.

Most importantly, our patients report both success and satisfaction with these financing options. Cosmetic Plastic Surgery is not aligned with any one financing resource, offering our patients the full spectrum of medical credit that is available to meet their needs. Additionally, all major credit cards are accepted within both of our practice locations to allow our patients to take advantage of the special offers they’ve earned.

All of the above options are represented with direct links on our financing page at https://www.cosmeticplasticsurgery.com/financing.cfm. Please feel free to call us at 217-359-7508 or 309-662-0436 or visit these lenders’ websites to have all of your financing questions answered.
G. D. Castillo, MD, FACS
Cosmetic Plastic Surgery

Financing Options at Cosmetic Plastic Surgery Clinic, Savoy & Bloomington IL

Wednesday, November 18th, 2009

If you’ve been contemplating a procedure or treatment, and plan on utilizing the Care Credit 12-month interest-free program, we just want to make sure that everyone knows that our participation in that particular program will be ending on November 30, 2009.  We will continue to participate in the Care Credit 3-month and 6-month interest-free programs, and all of their extended payment programs (24,36,48 and 60 months) after November 30th, but the 12-month program window will close after that date.

So, please contact us at 800-252-7123 before November 30th if you desire to take advantage of their 12-month plan.  We want to make sure everyone has the opportunity to take advantage of the most-convenient financing programs available for patients!  Remember, we do offer other financing programs as well that do include several other interest-free plans.  Again, feel free to contact us with any questions or visit our financing website page for other options.
G. D. Castillo, M.D.
COSMETIC PLASTIC SURGERY
Become a Facebook Fan of CPS @  http://www.facebook.com/pages/Cosmetic-Plastic-Surgery/65943304419
https://www.cosmeticplasticsurgery.com
800-252-7123 (within IL)
217-359-7508 Savoy (Champaign-Urbana)
309-662-0436 Bloomington

Saving money at Cosmetic Plastic Surgery Clinic

Tuesday, May 5th, 2009

Please allow me to introduce myself. I am Roena, and I have been working as the Office Coordinator for Dr. Castillo at the Cosmetic Plastic Surgery, Skin Restoration & Laser Institute for over 13 years now.

As a recent 50+ individual, I find myself contemplating a cosmetic investment more frequently than in the past. With so many options available today, surgery is no longer the only consideration when it comes to enhancing beauty and/or maintaining my appearance. (more…)