Saturday, December 21, 2024

Hi Scott,

I need some very expensive dental surgery and work. Here's how the numbers look:

In May, I will have two dental implants installed for a total cost of about $5,130 (that's $5400 minus a 5% "discount" for paying in full at the time of surgery; alternatively you can pay for the surgery over 90 days). This will be done by a specialist. I might get a few hundred dollars from insurance for this, but let's assume not (implants are not covered, but bone grafting is).

Next January, I will have a bridge installed for about $3,500 (after insurance). It is possible that for tax reasons, I may have this work done in this tax year.

Though I can raise the cash, I am concerned that if I were to become unemployed over the next few years, my cash reserves would be dangerously low. This is also a scary percentage of my annual take-home pay (I'm on a moderate income).

I was wondering if you could suggest a strategy/strategies to fund this $8,500 expenditure over a two-year period interest free. I have an excellent credit score (800+). I know that during the process, I can shop for balance transfer offers; however, I'd prefer to find a card with 0% on purchases for 24 months or do a series of transactions to perform the equivalent.

My dental surgeon's office has an arrangement with "Care Credit" whereby (if approved), I pay no interest for 6 months (not much help). After that, it goes to market (I'm not interested in paying more than 4% interest). My primary dentist (the one doing the bridge) has no arrangements with Care Credit or similar cards.

Bob R.

Bob,

I feel your dental pain on this one...I have one implant and have had quite a few root canals and crowns. I have to say that I LOVE the implant. I call it my "Bionic Tooth." At least I know that if all the others go, I can hang the dentures on that one. :)

You should have many financing options because of your great credit score. I would take advantage of the "Care Credit" for 6 months. Just be sure to pay it off with other financing before it ends.

Use any credit card to charge the remaining balances when due to get that 5% discount--my dentist gives me the same discount--that's my only dental insurance! Immediately after that, start applying for new cards to transfer the balance to before the grace period ends.

You can find a list of my recommended cards at: http://www.debtsmart.com/cards/

Best,
Scott

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