I have appied for a $5450 loan from surgeryloans.com (where the doctor recommened) They approved me at 8.9% and there is a $150 fee to open the account. The paperwork they have sent me is calling it a "medical credit card" and showing 8.9%APR...Does this mean that just like a credit card each month I will be charged the 8.9% of my outstanding balance?? I was under the impression that it would be like financing a car....this is your rate...we add it in to price...and this is what you finance over X amount of years.
Has anyone used surgeryloans.com or health-one????
Please help me understand bc I cannot pay $400 a month in finance charges!!