The decision to have cosmetic surgery, particularly large scale operations such as a tummy tuck, face lift or breast augmentation is not something to be taken lightly. As well as the emotional and practical considerations of choosing to have an invasive procedure there is the expense, which is often quite a hurdle for people. Finding the money to pay for an operation which costs as much as a decent second hand car can be a problem, but it seems credit cards are coming to the rescue more and more often nowadays.
In an ideal world, if you’re considering cosmetic surgery you’d be best placed to squirrel away some savings to cover the cost, that way you’re not worrying about interest on loans building up or making sure you’ve got enough money this month to make the repayment. Also, the very act of saving up, over say a year or two, gives you time to REALLY work out if your decision to have surgery is the right thing for you to be doing. It takes away the impulsive streak in all of us as we build up towards a goal that by the time we reach it, we know we truly want it and possibly need it.
However, many people do choose loans as an option for paying for cosmetic surgery. In fact, many clinics themselves are now able to offer interest free short term loans, over perhaps 12 months as part of their service provision for their patients. Alternatively, some banks, building societies and direct loans companies will also lend funds for the purpose of cosmetic surgery.
Fazel Fatah, the current president of the British Association of Plastic Surgeons (BAAPS) is however not in favour of such deals and said recently in the press; “The only time people should take a loan to fund an operation is if their quality of life is so impeded by their body image that they can’t function to 100% capacity.”
But with the current economic climate and banks tightening their lending criteria still further, many people are turning to other unsecured loans such as credit cards (great if there’s a 0% interest period on purchases for a reasonable amount of time) to finance their operations.
To that end, some cosmetic surgery chains are seeing such an increase in the use of credit cards to fund cosmetic surgery that they’re getting in on the action themselves and offering their own credit cards in conjunction with the banks.
One such example is BMI Healthcare’s BMI Card which offers 6 months initial interest free credit (rising to 9.9% APR) on all new cosmetic surgery procedures booked within a two year period, with credit limits up to £20,000 available to those with the most excellent credit scores!
However a person chooses to fund their cosmetic surgery the key issue is making sure that they are making the right decision, it’s bad enough to save up, have the surgery and realise you’ve made a mistake at a later date but to still be paying a debt for several years for something you didn’t think through and research and just put on your flexible friend is surely far, far worse.