The Consumer Financial Protection Bureau, which oversees consumer financial markets, previously highlighted these issues in a report issued in May. They also say that sometime the cards are used in lieu of need-based programs that hospitals and other health organizations should apply to a patient’s finances before forcing them to take on debt. Elizabeth Warren, D-Mass, say the cards’ deferred interest features are confusing and often lead to consumers paying high interest rates after an initial promotional period has ended. They come in handy for patients who can’t pay a medical bill all up frontīut the lawmakers, led by Sen. Medical credit cards have historically been used for elective procedures like cosmetic dentistry, dermatology, vision and in veterinary clinics. NEW YORK (AP) - A group of Democratic senators is asking the nation’s consumer finance watchdog to take action against medical credit cards such as CareCredit, saying use of these cards can result in patients paying much more for their medical care than they should.

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