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Best* medical credit cards

Give yourself some time to pay off medical bills with a low-interest rate credit card.

Receiving medical bills after undergoing procedures can feel overwhelming, especially if universal health care and private insurance won’t cover the full expense. A credit card can help offset your costs and give you some extra time to pay your bill.

Are medical credit cards offered in Canada?

In the United States, some credit card providers offer cards designed specifically to cover medical costs. These medical credit cards work a lot like regular credit cards, but you can only use them for certain products and services.

As of the time of writing, there are no medical credit cards offered in Canada. But there are a number of low-interest card options that can help ease the burden of covering your medical expenses by offering convenient repayment terms and good promotional offers.

*Disclaimer: How we chose the best credit cards to cover medical expenses

We’ve chosen the cards on this page based on the providers available through Finder. These cards are not representative of the entire market. We’ve narrowed down our top picks by considering the interest rates on offer for purchases, cash advances and balance transfers, as well as the annual fees, introductory offers and additional card benefits.

No single low rate credit card will be the best choice for everyone, so compare your options before picking your new card.

Best for low APR and low annual fee: BMO Preferred Rate Mastercard

BMO Preferred Rate Mastercard

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The BMO Preferred Rate Mastercard is a simple, no-frills credit card with a low interest rate of 12.99% for purchases and 12.99% for cash advances. You won’t earn any rewards points or cash back, but this card’s low rate can help you save money and pay down your balance faster.

Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year. Plus, cardholders will get free Purchase Protection, Extended Warranty coverage and Zero Liability protection.

Runner-up for low APR and low annual fee: Scotiabank Value Visa Card

Scotiabank Value Visa Card

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With no cash back or rewards points, the Scotiabank Value Visa Card doesn’t come with a lot of extra perks. But it can be a great tool for saving money. Save on interest for 6 months by consolidating your higher-rate balances with the balance transfer offer, and get an on-going 12.99% interest rate on purchases, cash advances and balance transfers.

Please note: All information about TD Emerald Flex Rate Visa Card has been collected independently by Finder and this card is not available through this site.

Best for those with good credit: TD Emerald Flex Rate Visa Card

TD Emerald Flex Rate Visa Card

The TD Emerald Flex Rate Visa Card is a unique credit card that offers a flexible and low APR that based on your own personal credit profile. With a higher credit score, you’ll likely be offered a lower APR, while a lower credit score will result in a higher APR. Interest rates are calculated by using the TD Prime¹ + 4.5% up to TD Prime + 12.75%.

Although this card can help you save money if you don’t pay off your balance in full each month, you won’t earn any rewards points or cash back.

Best for balance transfer offer: Scotiabank Value Visa Card

Scotiabank Value Visa Card

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With no cash back or rewards points, the Scotiabank Value Visa Card doesn’t come with a lot of extra perks. But it can be a great tool for saving money. Save on interest for 6 months by consolidating your higher-rate balances with the balance transfer offer, and get an on-going 12.99% interest rate on purchases, cash advances and balance transfers.

Best for rewards on everyday purchases: Scotia Momentum Mastercard

Scotia Momentum Mastercard

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The Scotia Momentum Mastercard doesn’t come with loads of perks, but it does boast a $0 annual fee and the chance to earn cash back rewards on your purchases. Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.

Enjoy peace of mind with Mastercard Zero Liability Protection, which protects you in the event your card is used fraudulently. Plus, rack up cash back rewards faster by getting an additional card with a $0 annual fee for a friend or family member. Get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by July 1, 2021.

How to choose the best medical credit cards

If you decide to use a medical credit card instead of a standard credit card for your health and wellness needs, here’s what to keep an eye on:

  • Length of low-interest promotional period.
    Many cards advertise a low-interest promotional period where you have a certain number of months to pay off your balance with minimal interest before the regular interest rate kicks in. Pay attention to the revert interest rate of any card offering such a deal. If you can’t pay off the entire balance before the promotional period ends, you could be stuck with high fees.

    Should I use a credit card to pay for my medical bills?

    Credit cards can be helpful financial tools when you’re hit with big bills but don’t have the cash to pay it off right away. Here are the main advantages of using a credit card to cover medical expenses:

    • Quick access to medical care. You won’t have to gather funds right away to foot the bill for elective or mandatory procedures. Having more time to pay might enable you to get the treatments you need sooner rather than later.
    • Possible low-interest period. Some credit cards offer low intro APR promotions — a set period of time during which interest is deferred. Since most regular credit cards accumulate monthly interest, this could be a handy financial grace period so long as you’re able to pay in full before time is up.
    • Consolidating your medical expenses. If you like the idea of keeping all your medical expenses in one place, a credit card may be appealing, because you’ll see all your charges on a single statement. This could come in handy when you need a clear record of each specific charge for insurance purposes, budgeting, applying for government assistance or qualifying for medical tax credits.
    • Peace of mind. Even if you do have extra crash, using it to fund a big medical bill could put a strain on your immediate, day-to-day finances. Sometimes, the peace of mind that comes with buying a little extra time can help take the pressure off during the weeks and months that follow intensive medical treatment.

    What to watch out for when using a medical card

    As you can image, credit cards aren’t a no-strings-attached solution to medical debt. Before committing, consider these drawbacks:

    • It could damage your credit score. If your financial health is a fragile to begin with — that is, you have large amounts of debt and other credit cards with outstanding bills — opening up a medical credit card could ding your credit score. This could make it harder to get approved for car financing or a mortgage in the near future.
    • Variable interest rate credit cards can make planning difficult. Some low-interest credit cards have a variable interest rate, which means it could change over time based on the Bank of Canada’s prime rate. This might be a roadblock for people on a tight budget, or with limited financial wiggle room.
    • Deferred interest could cause financial hardship down the line. Even if a credit card has an interest-free period upfront, you could be faced with a large portion of accumulated interest if you haven’t paid the balance by the end of that period. And this is on top of the medical bills you already owe.
    • Most don’t come with perks or rewards. While you could potentially earn miles, points and cash back by paying for medical bills with a regular credit card, the least expensive credit cards usually don’t come with many perks or rewards.

    Compare credit cards for medical bills

    Check out the tables below to compare your many credit cards options. View cards based on balance transfer offers, cash back, no annual fees and more.

    Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
    American Express Cobalt Card
    30,000 points
    Up to 5 points per $1 spent
    19.99%
    $120
    Min. recommended credit score: 700
    Earn up to 30,000 bonus Membership Rewards points in your first year as a new Cobalt Cardmember.
    Tangerine World Mastercard
    Balance transfer offer
    Up to 2% cash back
    19.95%
    $0
    Min. recommended credit score: 680
    Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
    BMO CashBack Mastercard
    5% cash back
    Up to 3% cash back
    19.99%
    $0
    Min. recommended credit score: 660
    Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,000). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
    BMO Preferred Rate Mastercard
    Balance transfer offer
    N/A
    12.99%
    $20
    Min. recommended credit score: 660
    Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year.
    Scotiabank Value Visa Card
    Balance transfer offer
    N/A
    12.99%
    $29
    Min. recommended credit score: 650
    Get a 0.99% introductory interest rate on balance transfers with a 0% transfer fee for the first 6 months. Apply by July 1, 2021.
    SimplyCash Card from American Express
    1.25% cash back
    Up to 2.5% cash back
    19.99%
    $0
    Min. recommended credit score: 700
    Earn 2.5% cash back on all eligible purchases in your first three months (up to a maximum spend of $6,000, or $150 in cash back).
    Choice Card from American Express
    10,000 points
    1 point per $1 spent
    19.99%
    $0
    Min. recommended credit score: 700
    Earn 10,000 Bonus Membership Rewards points within the first 3 months as a new Cardmember.
    Tangerine Money-Back Credit Card
    Balance transfer offer
    Up to 2% cash back
    19.95%
    $0
    Min. recommended credit score: 680
    Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
    HSBC +Rewards™ Mastercard®
    20,000 Points
    2x points per $1 spent
    11.9%
    $0 annual fee for the first year ($25 thereafter)
    Min. recommended credit score: 630
    Get 20,000 Points (up to $100 in value), plus get a 1st year annual fee waiver. Apply by September 27, 2021.
    Refresh Financial Secured Card
    N/A
    N/A
    17.99%
    $12.95
    Min. recommended credit score: Any score
    Take advantage of a low annual fee, with no credit check and guaranteed approval once you secure your card with some funds.
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    Name Product Balance Transfer Rate Balance Transfer Fee Purchase Interest Rate Annual Fee Min. Credit Score Description
    Tangerine World Mastercard
    1.95% for the first 6 months (then 19.95%)
    3%
    19.95%
    $0
    Min. recommended credit score: 680
    Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
    BMO CashBack Mastercard
    1.99% for the first 9 months (then 22.99%)
    1%
    19.99%
    $0
    Min. recommended credit score: 660
    Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,000). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
    BMO Preferred Rate Mastercard
    3.99% for the first 9 months (then 12.99%)
    1%
    12.99%
    $20
    Min. recommended credit score: 660
    Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year.
    Scotiabank Value Visa Card
    0.99% for the first 6 months (then 12.99%)
    N/A
    12.99%
    $29
    Min. recommended credit score: 650
    Get a 0.99% introductory interest rate on balance transfers with a 0% transfer fee for the first 6 months. Apply by July 1, 2021.
    Tangerine Money-Back Credit Card
    1.95% for the first 6 months (then 19.95%)
    3%
    19.95%
    $0
    Min. recommended credit score: 680
    Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
    BMO Rewards Mastercard
    1.99% for the first 9 months (then 22.99%)
    1%
    19.99%
    $0
    Min. recommended credit score: 725
    Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Apply by October 31, 2021 . Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
    BMO AIR MILES Mastercard
    1.99% for the first 9 months (then 22.99%)
    1%
    19.99%
    $0
    Min. recommended credit score: 660
    Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash). Get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
    BMO AIR MILES Mastercard For Students
    1.99% for the first 9 months (then 22.99%)
    1%
    19.99%
    $0
    Min. recommended credit score: 660
    Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash). Get a 1.99% introductory interest rate on balance transfers for 9 months. A 1% fee applies to balance amounts transferred.
    BMO CashBack Mastercard For Students
    1.99% for the first 9 months (then 22.99%)
    1%
    19.99%
    $0
    Min. recommended credit score: 660
    Get up to 5% cash back in the first three months (up to max. spend of $2,000). Plus, get a rate of 1.99% on balance transfers for 9 months (with a 1% transfer fee).
    Scotia Momentum Visa Card
    2.99% for the first 6 months (then 22.99%)
    N/A
    19.99%
    $39
    Min. recommended credit score: 650
    Earn 7.5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, get a 2.99% introductory rate on balance transfers and a 0% balance transfer fee for the first 6 months. Apply by August 31, 2021.
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    Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
    American Express Cobalt Card
    30,000 points
    Up to 5 points per $1 spent
    19.99%
    $120
    Min. recommended credit score: 700
    Earn up to 30,000 bonus Membership Rewards points in your first year as a new Cobalt Cardmember.
    Choice Card from American Express
    10,000 points
    1 point per $1 spent
    19.99%
    $0
    Min. recommended credit score: 700
    Earn 10,000 Bonus Membership Rewards points within the first 3 months as a new Cardmember.
    HSBC +Rewards™ Mastercard®
    20,000 Points
    2x points per $1 spent
    11.9%
    $0 annual fee for the first year ($25 thereafter)
    Min. recommended credit score: 630
    Get 20,000 Points (up to $100 in value), plus get a 1st year annual fee waiver. Apply by September 27, 2021.
    BMO Rewards Mastercard
    10,000 points
    Up to 2 points per $1 spent
    19.99%
    $0
    Min. recommended credit score: 725
    Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Apply by October 31, 2021 . Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
    BMO World Elite Mastercard
    30,000 points
    Up to 3 points per $1 spent
    20.99%
    $0 annual fee for the first year ($150 thereafter)
    Min. recommended credit score: 760
    Get up to 30,000 points and the $150 annual fee waived in the first year. Apply by October 31, 2021
    Brim Mastercard
    Up to $200 worth of bonuses
    1 point per $1 spent
    19.99%
    $0
    Min. recommended credit score: 700
    Earn up to $200 worth of bonus points when you shop with Brim retailers for the first time through the Brim mobile app.
    American Express Aeroplan Card
    15,000 points
    Up to 2x points per $1 spent
    30% annual interest rate applies to balances not paid in full each month
    $120
    Min. recommended credit score: 700
    Earn up to 15,000 Welcome Bonus Aeroplan points and a bonus Buddy Pass as a new cardmember.
    BMO eclipse Visa Infinite
    40,000 points
    Up to 5 points per $1 spent
    20.99%
    $0 annual fee for the first year ($120 thereafter)
    Min. recommended credit score: 760
    Get up to 40,000 points and the $120 annual fee waived in the first year.
    American Express Business Edge Card
    57,000 points
    Up to 3 points per $1 spent
    19.99%
    $99
    Min. recommended credit score: 700
    Earn up to 57,000 Membership Rewards points in your first year.
    American Express AIR MILES Platinum Credit Card
    2,000 Miles
    Up to 1 Air Mile per $5 - $10 spent
    20.99%
    $120
    Min. recommended credit score: 700
    Earn a Welcome Bonus of 2,000 AIR MILES within the first three months. That’s enough to redeem for $200 towards your purchases with AIR MILES Cash.
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    Name Product Welcome Offer Cash Back Rate Purchase Interest Rate Annual Fee Min. Credit Score Reward Description
    Tangerine World Mastercard
    Balance transfer offer
    Up to 2% cash back
    19.95%
    $0
    Min. recommended credit score: 680
    Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
    BMO CashBack Mastercard
    5% cash back
    Up to 3% cash back
    19.99%
    $0
    Min. recommended credit score: 660
    Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.
    SimplyCash Card from American Express
    1.25% cash back
    Up to 2.5% cash back
    19.99%
    $0
    Min. recommended credit score: 700
    Earn 1.25% cash back on all eligible purchases.
    Tangerine Money-Back Credit Card
    Balance transfer offer
    Up to 2% cash back
    19.95%
    $0
    Min. recommended credit score: 680
    Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
    SimplyCash Preferred Card from American Express
    10% cash back
    2% cash back
    19.99%
    $99
    Min. recommended credit score: 700
    Earn 2% cash back on all eligible purchases
    BMO CashBack World Elite Mastercard
    Up to 10% cash back
    1% cash back
    20.99%
    $0 annual fee for the first year ($120 thereafter)
    Min. recommended credit score: 760
    Earn 5% cash back on groceries, 4% on transit including ride sharing, taxis and public transportation, 3% on gas and electric vehicle charging, 2% on recurring bill payments and 1% unlimited cash back on all eligible purchases.
    Shell CashBack Mastercard from BMO
    $50 in cash back + 1% cash back
    Up to 1.5% cash back
    19.99%
    $0
    Min. recommended credit score: 660
    Get 1.5% cash back at participating Shell locations in Canada (up to a maximum spend of $2,500 in any monthly billing period), and get 0.5% cash back everywhere else.
    BMO Cashback Business Mastercard
    10% cash back
    Up to 1.75% cash back
    19.99%
    $0
    Min. recommended credit score: 650
    Earn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases.
    BMO CashBack Mastercard For Students
    5% cash back
    Up to 3% cash back
    19.99%
    $0
    Min. recommended credit score: 660
    Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.
    Shell CashBack World Mastercard from BMO
    N/A
    Up to 3% cash back
    19.99%
    $79
    Min. recommended credit score: 760
    Get 3% cash back per $1 spent at Shells stations, 1.25% cash back on all other spend.