Jan 05, 2023

0% APR Financing With A Credit Card or a Loan? What’s Best For You

When deciding how to pay for fertility treatments, there are several options to consider, from cashing in investments, to tapping your savings, to using a credit card. Perhaps the most tempting and cost-effective option is financing it with 0% APR – allowing you to break up a $20,000 expense into smaller, more manageable monthly payments without tacking on a single dollar of interest.  There are 2 main 0% APR options to consider: a credit card with a special introductory offer, or a personal fertility loan, such as Future Family’s brand new 0% interest product, launching January 2023 at participating clinics.

A 0% APR credit card can be a great financial option under the right circumstances, but it’s important to understand the terms before jumping in and charging a major expense. First and foremost, that no-fee rate won’t last forever. The introductory period will vary by card but is generally 6 to 21 months. After that, the card will revert to its regular variable APR – which could easily be 20% or more. Plus, if you make a late payment, credit cards have the right to abruptly end the 0% period – and even hit you with a penalty APR that can be as high as 30%!

Another consideration is the impact on your credit score. Bouncing from no-fee card to no-fee card can negatively impact your credit score-– as credit bureaus generally see opening credit cards frequently as an indication of instability. Putting a large expense like IVF on your credit card can also lower your credit score by increasing your credit utilization rate (the amount of available credit you are using). The average credit card limit is around $30,000, so charging a $20,000 IVF cycle will spike your utilization rate to more than double the recommended 30%. And that doesn’t include regular monthly expenses that may go on the same card (groceries, gas, shopping).

Future Family’s 0% APR Financing

Unlike credit cards, Future Family’s personal fertility loans offer stable fixed rate financing. Those who qualify can now take advantage of an exciting new product - a 0% APR loan, the first offering of its kind. It enables patients to break up treatment costs for up to 12 months without paying any interest at all. And unlike the risks of a credit card, approval is quick, easy and has zero impact on your credit score.

Future Family also offers added layers of personal support that no credit card can match. First, a Finance Specialist will walk you through all your loan and term options to help you make the best decision for your family. Then, after loan approval and finalization, patients are paired with a Care Nurse to coach them through the entire treatment process – from ordering and administering medications to preparing for retrieval and transfer.  

In addition to that one-on-one guidance, Future Family also offers bi-monthly support groups, providing a warm and welcoming space to talk about any and all topics related to fertility treatments. The response from our clients to these support systems has been overwhelmingly positive.  We recognize the financial, physical and emotional toll this process can take, and we want to help you every step of the way. In short, the Future Family 0% loan product not only matches, but goes far above and beyond a 0% credit card when it comes to paying for fertility treatment.

Get Pre-Approved for an IVF Loan Today

If you’re interested in pursuing an IVF loan, see if you prequalify today. Applicants can be pre-approved in 90 seconds, and this process does not impact your credit score.

If you have any questions, please contact us at: financing@futurefamily.com.

Learn how Future
Family can help you

Flexible financing plans and dedicated support for IVF and egg freezing