Cosmetic Loans: Financing Plastic Surgery in 2024
Loans are one way — but not the only way — to pay for plastic surgery. Compare loans for cosmetic work or plastic surgery, as well as other options for financing your procedure.
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If your health insurance doesn’t cover elective cosmetic or plastic surgery, you may have to finance the operation. An unsecured personal loan is one way to pay for the procedures.
Like other personal loans, plastic surgery loans are disbursed as lump sums that you repay with interest over the loan term, typically two to seven years. Loan amounts range from $1,000 to $50,000, and annual percentage rates are from about 6% to 36%. Generally, the higher your credit score, the lower the APR you can expect on a loan.
The best personal loan is one that pays for the procedure you want without adding unmanageable debt to your budget, so compare a loan with other options for financing an elective procedure.
Here are lenders that offer loans you can use for cosmetic surgery.
- 35+ personal loans reviewed and rated by our team of experts.
- 20+ years of combined experience covering personal loans and financial topics.
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- Governed by NerdWallet's strict guidelines for editorial integrity.
- 35+ personal loans reviewed and rated by our team of experts.
- 20+ years of combined experience covering personal loans and financial topics.
- Objective, comprehensive star rating system assessing 20+ categories and 70+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.
Cosmetic Loans: Financing Plastic Surgery in 2024
8.49-35.99%
$1K-$50K
560
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 560.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including the loan you're applying for.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
7.99-24.99%
$2.5K-$40K
660
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Must be at least 18 years old.
- Must have a valid U.S. Social Security number.
- Minimum individual or household annual income of $25,000.
- Must have an active email address.
- Origination fee: None.
- Late fee: $39.
8.99-29.99%
$5K-$100K
None
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must legally be an adult in your state.
- Must be a U.S. citizen, permanent resident or non-permanent resident with valid documentation.
- Must be employed, have sufficient income or have an offer of employment to start within 90 days.
- Origination fee: 0% to 7%.
- Late fee: None.
8.98-35.99%
$1K-$40K
600
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
7.80-35.99%
$1K-$50K
None
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 in most states.
- Must have a valid email address and Social Security number.
- Must have a bank account at a financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts.
- Minimum credit score: None.
- Minimum annual income: $12,000; this lender accepts income from employment, alimony, retirement, child support, Social Security, rentals, trusts, pensions, disability and scholarships.
- Must have a full-time job or be starting a full-time job within six months.
- Origination fee: 0% to 12%.
- Late fee: 5% of past due amount or $15, whichever is greater.
- Returned check fee: $15.
6.99-25.49%
$5K-$100K
660
LightStream is a solid option for good-credit borrowers, with no fees and low rates that vary based on loan purpose.
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 years old.
- Minimum credit score: 660.
- Must have several years of credit history with multiple account types and few or no delinquencies.
- Must have assets like retirement, investment and savings accounts.
- Origination fee: None.
- Late fee: None.
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 710.
- Minimum income: No minimum requirement; borrower average is $122,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: 5% of monthly payment or $15, whichever is greater.
- Insufficient funds fee: $15.
- Pay by mail fee: $5.
Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.
- Minimum credit score: 560.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including the loan you're applying for.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.
- Minimum credit score: 660.
- Must be at least 18 years old.
- Must have a valid U.S. Social Security number.
- Minimum individual or household annual income of $25,000.
- Must have an active email address.
- Origination fee: None.
- Late fee: $39.
Qualified borrowers will find few lenders better than SoFi, thanks to thoughtful perks like unemployment protection and free financial advising.
- Must legally be an adult in your state.
- Must be a U.S. citizen, permanent resident or non-permanent resident with valid documentation.
- Must be employed, have sufficient income or have an offer of employment to start within 90 days.
- Origination fee: 0% to 7%.
- Late fee: None.
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.
- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
- Origination fee: 3% to 8%.
- Late fee: 5% of payment or $15 after 15-day grace period.
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid choice for financing large purchases.
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 in most states.
- Must have a valid email address and Social Security number.
- Must have a bank account at a financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts.
- Minimum credit score: None.
- Minimum annual income: $12,000; this lender accepts income from employment, alimony, retirement, child support, Social Security, rentals, trusts, pensions, disability and scholarships.
- Must have a full-time job or be starting a full-time job within six months.
- Origination fee: 0% to 12%.
- Late fee: 5% of past due amount or $15, whichever is greater.
- Returned check fee: $15.
LightStream is a solid option for good-credit borrowers, with no fees and low rates that vary based on loan purpose.
- Must be a U.S. citizen or permanent resident.
- Must be at least 18 years old.
- Minimum credit score: 660.
- Must have several years of credit history with multiple account types and few or no delinquencies.
- Must have assets like retirement, investment and savings accounts.
- Origination fee: None.
- Late fee: None.
Prosper accepts borrowers across the credit spectrum and offers competitive rates and fees, plus instant approval.
- Minimum credit score: 560; borrower average is 710.
- Minimum income: No minimum requirement; borrower average is $122,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: 5% of monthly payment or $15, whichever is greater.
- Insufficient funds fee: $15.
- Pay by mail fee: $5.
Our pick for
Cosmetic surgery loans
Discover® Personal Loans
7.99-24.99%
$2,500-$40,000
660
SoFi Personal Loan
8.99-29.99%
$5,000-$100,000
None
» MORE: Best medical loans
How to compare cosmetic surgery loans
Personal loans for cosmetic or plastic surgery are offered from online lenders, banks and credit unions, and each type of lender has different approval requirements and loan features. It's best to compare multiple loan offers and consider the following:
Borrower requirements. Compare different lenders to see what they require from a borrower. Some have a minimum credit score, debt-to-income ratio or income requirements.
APR. The annual percentage rate represents the entire cost of a loan, including any fees, and should be clearly disclosed by the lender. The APR is also a good way to do an apples-to-apples comparison when deciding between lenders. The loan with the lowest APR is typically the cheapest.
Monthly payment: A loan's monthly payment typically starts 30 days after receiving the loan funds. The fixed payment is based on the loan amount, APR and loan term. Look for a loan with payments that fit comfortably into your monthly budget.
At a 15% APR, a $7,655 loan paid back over three years would require monthly payments of about $265 and a total interest cost of $1,898.
Fees. Be sure you know whether your loan comes with any fees, like an origination fee, which could reduce the actual loan amount you receive, or late payment fees.
Loan features. Depending on the lender you choose, your loan may include special features like financial planning help, free credit monitoring and unemployment protection.
» MORE: How to get a personal loan
Pre-qualify for a plastic surgery loan
Taking the steps to pre-qualify will give you an idea of the rate and term you can get on a personal loan. Most online lenders perform a soft credit check during pre-qualification, which won’t hurt your credit score. You can prequalify and check your rate with multiple lenders online to find the best offer.
Pre-qualify with NerdWallet to compare lenders and receive personalized rates.
Alternative ways to finance cosmetic or plastic surgery
Insurance. Some procedures you might think of as cosmetic may be covered, at least in part, by your insurance if they’re medically necessary. For example, your insurer may cover reconstructive surgery after an accident or breast reconstruction after a mastectomy due to cancer.
Savings. Like most other discretionary expenses, NerdWallet recommends saving up for elective surgery. If you build up enough savings to fund the procedure yourself, you won’t incur any debt or pay interest, making it among your least expensive options.
Payment plans. Your doctor’s office may allow you to set up a scheduled repayment plan that works with your budget and, in some cases, doesn't include interest.
Medical credit card. Medical credit cards offered through some medical providers can be a no-interest option for funding a procedure if you pay it back on time.
CareCredit is a popular financing option that you can use to pay for medical bills. If approved, you can get zero-interest promotional financing terms to pay for procedures that cost $200 or more. However, make sure to pay the full balance by the end of the term or you’ll be charged interest retroactively on the entire amount.
0% credit card. Like a medical credit card, a 0% interest credit card requires that you pay the loan back before the promotional period expires to avoid high interest charges. These cards typically require good to excellent credit (scores above 689) to qualify.
» MORE: Ways to pay off medical debt
Last updated on December 15, 2023
Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 technology companies and financial institutions. We collect over 50 data points from each lender and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
NerdWallet's Cosmetic Loans: Financing Plastic Surgery in 2024
- LendingClub: Best for Cosmetic surgery loans
- Upstart: Best for Cosmetic surgery loans
- LightStream: Best for Cosmetic surgery loans
- Upgrade: Best for Cosmetic surgery loans
- Discover® Personal Loans: Best for Cosmetic surgery loans
- SoFi Personal Loan: Best for Cosmetic surgery loans
- Prosper: Best for Cosmetic surgery loans
