The American Prospect | R Inzana
Medical credit cards have gone mainstream, preying on sick people at their most vulnerable…. The typical medical credit card has an annual percentage rate (APR) of 26.99 percent interest, compared to an average of 16 percent for regular credit cards. Consumers who aren’t able to pay off the charges before the deferred interest kicks in end up paying about one-quarter more than the original amount they were charged. American consumers paid $1 billion in deferred interest between 2018 and 2020.