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LASIK eye surgery can significantly improve your quality of life, eliminating the need for eyeglasses or contact lenses. However, its high cost can be a hurdle for many.
Financing your surgery can help you spread out the cost of LASIK eye surgery over time. The best loans to pay for the procedure offer low interest rates, flexible repayment terms and minimal fees. Before going forward with any loan, be sure to consider all of your options and have a plan to repay your debt.
Company | Forbes Advisor Rating | Minimum Credit Score | APR range | Loan amounts | LEARN MORE | ||||
---|---|---|---|---|---|---|---|---|---|
SoFi® | 4.0 | 650 | 8.99% to 29.99% | $5,000 to $100,000 | Compare Rates | Via Credible.com's Website | |||
LightStream | 4.0 | 660 | 6.99% to 25.49% | $5,000 to $100,000 | Compare Rates | Via Credible.com's Website | |||
LendingPoint | 4.0 | 600 | 7.99% to 35.99% | $2,000 to $36,500 | Compare Rates | Via Fiona.com's Website | |||
Upgrade | 3.5 | 580 | 8.49% to 35.99% | $1,000 to $50,000 | Compare Rates | Via Credible.com's Website | |||
Universal Credit | 3.5 | 580 | 11.69% to 35.99% | $1,000 to $50,000 | Compare Rates | Compare rates from participating lenders via Forbes Advisor | |||
Discover | 3.5 | 660 | 7.99% to 24.99% | $2,500 to $40,000 | Compare Rates | Via Fiona.com's Website | |||
Upstart | 3.5 | 300 | 7.80% to 35.99% | $1,000 to $50,000 | Compare Rates | Via Credible.com's Website | |||
Avant | 3.5 | 580 | 9.95% to 35.99% | $2,000 to $35,000 | Compare Rates | Via Credible.com's Website |
Before you accept financing for your LASIK surgery, compare loan offers so you can get the best possible rates and terms. When looking for a loan, consider:
LASIK financing refers to the various options available to cover the costs of LASIK eye surgery—an elective procedure not typically covered by standard insurance policies. These financing options range from personal loans and credit cards to healthcare-specific financing from companies specializing in medical expenses.
Financing a LASIK surgery allows you to break up the cost of the procedure into manageable monthly payments. That said, financing your operation does mean additional costs, including interest and fees. For that reason, thoroughly evaluate and compare different LASIK financing options before making a decision.
Follow these steps to get a personal loan for LASIK financing:
Pre-qualifying for a LASIK eye surgery loan can help you better understand your approval odds and the terms you might qualify for without affecting your credit. Start by identifying potential lenders and determine whether each has a pre-qualification process. When available, this typically involves providing basic information like your name, contact details, employment information and income.
At this stage, the lender typically runs a soft credit check that doesn’t affect your credit score. If you pre-qualify, the lender will provide a potential loan offer, which includes details about the loan amount, term and interest rate. Remember, these terms may change after the full application and hard credit check.
The best personal loans can help you finance LASIK eye surgery, but this method may not work for everyone. Explore alternative LASIK financing options to choose the funding source that best meets your needs, including:
A credit card can provide immediate funds for your LASIK surgery. Some credit cards offer introductory periods with 0% interest for up to 20 months. However, paying off the balance before this period ends is crucial to avoid high interest charges.
If you opt for this approach, remember that credit card limits may not cover the entire cost of the surgery, and maintaining high credit card balances can damage your credit score.
Medical credit cards are specialized credit cards exclusively for healthcare expenses. They often come with promotional financing offers, such as no interest if you pay off the balance within a specific period. However, if you fail to pay off the balance within the promotional period, interest is typically charged from the original purchase date.
An HSA or FSA allows you to set aside pre-tax dollars for eligible healthcare expenses, including LASIK surgery. These accounts can result in substantial savings due to their tax advantages and the ability to cover medical costs without incurring interest. However, there are annual contribution limits and specific rules for spending the funds.
Many LASIK surgery centers offer in-house financing options, including payment plans and interest-free financing for a set period. That said, in-house financing terms vary by facility, so take time to thoroughly understand the loan agreement before choosing this option.
Some health insurance providers offer discounts or coverage for LASIK surgery. This is particularly true of insurance plans with vision coverage. These discounts likely won’t cover the entire procedure cost, but it’s worth checking with your provider to see if this is an option.