Credible takeaways
- Health insurance typically only covers types of plastic surgery deemed medically necessary, which rarely include cosmetic procedures.
- If you need to finance cosmetic surgery, you have several options, including a personal loan, credit card, or in-house financing.
- Some credit cards and in-house financing programs offer zero-interest promotional periods.
Cosmetic surgery is becoming more common, with a 19% increase in procedures between 2019 and 2022, according to the American Society of Plastic Surgeons. But health insurance typically won’t cover an elective procedure like cosmetic surgery unless your insurance provider also deems it medically necessary. Whether you’re hoping to get Botox or a more invasive procedure like liposuction, plastic surgery financing can help with the costs.
What is plastic surgery financing?
Plastic surgery financing is any loan or credit card that can be used to pay for a cosmetic procedure over time. Many people struggle to cover the costs of cosmetic surgery all at once, since the procedures can be expensive. For example, a tummy tuck cost an average of nearly $7,500 in 2022, according to Aesthetic Plastic Surgery National Databank Statistics.
While it’s generally best to save for a large expense like plastic surgery rather than borrowing, there are financing options available, such as a personal loan, home equity loan, credit card, and in-house financing.
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Personal loan for plastic surgery
One option for financing cosmetic surgery is to apply for a personal loan from a bank, credit union, or online lender. A personal loan is an installment loan that provides you with a lump sum of money upfront. You repay the loan in fixed monthly payments with interest over a set period of time, often several years.
A personal loan can be used for almost any purpose, including plastic surgery. You can often borrow up to $50,000 (sometimes more), depending on the lender, and repayment terms are typically available from one to seven years. Personal loan interest rates largely depend on your credit profile, and range from around 6% to 36%.
To qualify for the best rates on a personal loan, you’ll need excellent credit. But some online lenders offer bad-credit personal loans. Most lenders also check your payment history, income, and other debts when determining whether you’re eligible for a loan and setting your interest rate. Some lenders may also charge an origination fee, which is typically deducted from the funds you receive. The annual percentage rate (APR) on the loan reflects the total annual cost of borrowing, including any upfront fees, which makes it a good way to compare different loans on the basis of overall cost.
Tip
Prequalify with multiple lenders to get a sense of the rate and terms you may receive with them, and compare APRs. Prequalification is not an offer of credit.
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Plastic surgery credit card
Another way to pay for plastic surgery is to use a credit card, which gives you access to credit on an ongoing basis and typically requires a minimum payment toward your balance every month. Some plastic surgeons accept medical credit cards, like those offered by CareCredit and Alphaeon. The advantage of these cards is that you can often get promotional financing on large purchases. That means you’ll pay low or no interest on the charge for a limited period of time.
You can also take advantage of an introductory APR offer on a new credit card. For instance, some credit card issuers offer a 0% APR on purchases for up to 21 months when you open a new account. That means you can avoid paying any interest as long as you pay off the balance in full before the introductory period ends. If you apply for one of these offers, you’ll also be able to use the card for non-medical purchases.
Warning
Unlike installment loans, credit cards assess interest on any interest that has already accrued to your account — called compound interest — which can lead to a rapid rise in your balance if you only make minimum payments.
In-house financing for plastic surgery
Many plastic surgery clinics offer in-house financing, which is typically provided in partnership with a third-party financing company. The funds usually go directly to the provider, so you’ll have less flexibility when compared to a personal loan. Many in-house financing programs come with a 0% APR promotional offer for the first six or 12 months. However, rates are generally higher if you choose a longer-term financing option. If you need several years to pay off the balance, you may pay less with a personal loan.
How to qualify for plastic surgery financing
While eligibility requirements vary depending on the type of financing you choose, you’ll generally need the following:
- A good-enough credit score: The better your credit score, the more options you’ll have. Excellent credit gets you access to low rates, higher loan limits, and better promotional offers. Many personal loan lenders require at least a score in the mid-600s to qualify. That said, some lenders are friendly to borrowers with poor credit — for example, Universal Credit, a Credible partner, requires a minimum FICO score of 560.
- Enough income to pay your debts: Most lenders will check your debt-to-income ratio, which is the share of your monthly income that you put toward debt repayment, to make sure you’re not already overextended. If you have a lot of debt, you may not be approved or you may be approved at a higher rate. Some lenders also have minimum income requirements.
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Best financing for plastic surgery
When it comes to financing cosmetic surgery, some lenders offer better options than others. The best plastic surgery loans come with low rates, high borrowing limits, quick funding, and multiple term options. Here are our top picks for people looking to finance an elective procedure.
Advertiser DisclosureOverview
Lightstream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses like home improvements or weddings. Funds are available as soon as the same day you apply, and you'll have up to 12 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans. There are no origination fees, and rates are low — Lightstream's lowest APR beats SoFi's advertised lowest APR by 1 percentage point. But you'll need good credit to qualify.
Unlike most lenders, Lightstream does not let you prequalify on its site. Nor does it provide a contact phone number next to its customer service hours on its website.
Repayment terms
2 - 12 years, depending on loan purpose
Eligibility
Available in all states except RI and VT
Time to get funds
As soon as the next business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewOverview
Discover Personal Loans offers low APRs, repayment terms up to seven years, no origination fees, nationwide availability, and doesn't require your Social Security number to prequalify on its site. You'll need to have an annual income of at least $40,000, and a FICO score 660 or higher, to be eligible. If your credit score is fair or poor, you'll need to go elsewhere, as Discover doesn't allow cosigners.
Funds are available as soon as the next business day after loan approval.
Eligibility
Available in all 50 states
Time to get funds
Funds can be sent as soon as the next business day after acceptance
Loan uses
Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding
Read full reviewOverview
LendingClub is a solid lender for good credit borrowers and some fair credit borrowers that apply directly on its website. It's easy to prequalify with LendingClub, especially if you're uncomfortable providing your Social Security number, as the company doesn't require it at the prequalification stage. (You will need to provide it if you move forward with a full application.)
While prequalification is not a guarantee that you'll be approved for a loan, LendingClub does a better job than most other Credible partner lenders at approving applicants that have successfully prequalified. In other words, you're less likely to have your application declined once you apply (if you've already prequalified). LendingClub may charge an origination fee between 3% and 8%.
Eligibility
Available in all 50 states
Loan uses
Debt consolidation, paying off credit cards
Read full reviewOverview
SoFi stands out for offering no-fee personal loans with competitive rates, high loan amounts, long loan terms, discounts for autopay and direct pay, and funding as soon as the same day. Plus, SoFi prioritizes convenience for existing and potential customers with features like live chat and an easy prequalification process that doesn't require your Social Security number.
The main catch is that you need to qualify for a loan with SoFi, which can be hard to do if you don't have good credit. You also won't be able to apply with a cosigner, since SoFi doesn't accept cosigners; nor does it offer secured personal loans.
Fees
Option to pay an origination fee (up to 6%) in exchange for a lower rate
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Loan uses
Solely for personal, family, or household uses
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Best Egg is a solid lender for a wide range of borrowers and, notably, scored second for personal loan satisfaction in J.D. Power's Consumer Lending Study. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, but the lower your score, the higher your APR may be. The APR includes the interest rate and origination fees, which range from 0.99% to 8.99% with Best Egg.
Note that if you successfully prequalify with Best Egg, you may be more likely to be approved for the loan relative to other lenders you prequalify with. Based on Credible data, borrowers who chose to apply for a loan with Best Egg were more than twice as likely to be approved (relative to most other Credible partners).
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Eligibility
Available in all states except DC, IA, VT, and WV
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
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BHG Money stands out for offering the largest loan amounts — up to $200,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher. However, if you have a cosigner that meets these requirements, BHG will consider your application.
Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 2% and 4%, depending on your financial profile. Loan funds are available within three to 14 days of loan approval. Note that you can't prequalify with BHG.
Fees
Origination fees, late fees
Eligibility
Available in all states except Maryland and Illinois
Loan uses
Debt consolidation, baby (adoption), engagement ring financing, moving (relocation), business, home improvement, special occasion, cosmetic procedures, major purchase, taxes, credit card refinancing, medical expenses, vacation, wedding, other
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Upstart has one of the lowest available APRs of Credible partner lenders and of all non-partners we reviewed, making it a good choice for well-qualified applicants. However, it's also is one of few lenders that doesn't have a minimum credit score requirement (if you apply on the lender's website), which makes it an option if you have bad credit or no credit history. Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed.
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
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Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers, and you don't need to input your Social Security number to prequalify on the website. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%. You must have a FICO score of at least 600 and a minimum income of $25,000 annually to qualify.
Loan amount
$1,000 to $50,000 ($3,005 minimum in GA; $6,600 minimum in MA)
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
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Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
Fees
Origination fee, late fee, dishonored payment fee
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, and WV
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Repayment terms
1 to 5 years (2 to 5 years through Credible)
Read full reviewOverview
Universal Credit is one of a handful of lenders that offers personal loans for bad credit. If your FICO credit score is at least 560, you may be eligible for a Universal Credit personal loan. It offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
Eligibility
A U.S. citizen or permanent resident; not available in DC, IA, SC, WV
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Read full reviewOverview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
Fees
Origination fee, unsuccessful payment fee, late fee
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Read full reviewTip
If you can’t get approved on your own, applying with a co-borrower or cosigner can help you get approved for a loan, or lower your rate.
Plastic surgery financing FAQ
Can I get a loan for plastic surgery?
Yes. You can get a personal loan for almost any purpose, including cosmetic surgery. Your plastic surgeon may also offer an in-house financing program or accept medical credit cards.
How do you finance plastic surgery?
There are several ways to finance plastic surgery, including a credit card, personal loan, or in-house financing program. If you are a homeowner, you may also consider a home equity loan or home equity line of credit. There are also more extreme ways to finance plastic surgery, like borrowing from your 401(k) or a cash value life insurance policy. But either can create severe tax consequences and should be considered thoroughly, or just avoided.
Does insurance cover plastic surgery?
Health insurance typically does not cover elective procedures, but it does cover plastic surgery that is deemed medically necessary to correct certain conditions. For example, if your doctor prescribes Botox to treat a muscle disorder or performs a nose job to correct a deviated septum, those procedures would likely be covered by your medical plan.
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Meet the expert:
Lindsay Frankel
Lindsay Frankel has been covering personal finance for six years, with particular expertise in loans, insurance, and real estate. She’s written hundreds of articles across a range of well-known outlets, including LendingTree, Investopedia, SFGate, and more. Outside of writing, she enjoys playing music and exploring nature with her rescue dog, Lucy.