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Cosmetic Surgery Loans: Financing Plastic Surgery in 2022

Plastic surgery loans are one way — but not the only way — to pay for plastic surgery. Compare loans for cosmetic work, as well as other options for financing your procedure.

Jan 11, 2022

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If your health insurance doesn’t cover elective cosmetic procedures, you may have to finance your plastic surgery. Unsecured personal loans are one way to pay for cosmetic surgery.

Plastic surgery loans, like other personal loans, typically come in loan amounts from $1,000 to $50,000, with annual percentage rates ranging from about 6% to 36%. The lower APRs are reserved for those with good and excellent credit scores (690 FICO or higher).

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 plastic surgery.

Cosmetic Surgery Loans: Financing Plastic Surgery in 2022 From Our Partners

Our picks for

Cosmetic surgery loans

Lending Club
Get rate

on LendingClub's website

LendingClub

5.0

NerdWallet rating 
Lending Club

Est. APR

6.34-35.89%

Loan amount

$1,000-$40,000

Min. credit score

600
Get rate

on LendingClub's website


Min. credit score

600

Key facts

LendingClub is a pioneer of peer-to-peer lending and a good option if you want to consolidate your debt.

Pros

  • Offers joint loan options.

  • Offers direct payment to creditors with debt consolidation loans.

  • Soft credit check with pre-qualification.

  • Option to change the payment date.

Cons

  • Borrowers can choose from two repayment term options only.

  • Charges an origination fee.

Qualifications

  • Minimum credit score: 600.

  • Maximum DTI: 60%; 40% for joint applicants.

  • Minimum credit history: More than 18 months.

  • Minimum number of accounts on credit report: Two revolving accounts.

  • Monthly income after paying other debts and living expenses should be enough to cover the new personal loan payments.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 2% to 6%.

  • Late fee: Greater of $15 or 5% of payment after 15-day grace period.

Disclaimer

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 7.04% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 7/1/21 and are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

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Upstart
Get rate

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Est. APR

5.40-35.99%

Loan amount

$1,000-$50,000

Min. credit score

None
Get rate

on Upstart's website


Min. credit score

None

Key facts

Upstart is a good option for those who have short credit histories and promising financial futures.

Pros

  • Accepts borrowers new to credit.

  • Able to fund loans within one business day.

  • Offers direct payment to creditors with some debt consolidation loans.

  • Allows borrowers to choose and change payment date.

Cons

  • Borrowers can choose from only two repayment term options.

  • Charges origination fee.

  • No mobile app to manage the loan.

Qualifications

  • Minimum credit score: None.

  • Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.

  • Minimum gross income: $12,000.

  • Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.

  • Must have U.S. residential street address where borrower resides (unless military personnel on active duty).

  • Must be at least 18 years old.

  • Valid email account required.

  • Personal bank account with U.S. routing number required.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 0% - 8%.

  • Late fee: 5% of past due amount or $15, whichever is greater.

Disclaimer

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000).This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $14,775 including a $582 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

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Lightstream
Get rate

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Est. APR

4.99-19.99%

Loan amount

$5,000-$100,000

Min. credit score

660
Get rate

on LightStream's website


Min. credit score

660

Key facts

LightStream targets strong-credit borrowers with no fees and low rates that vary based on loan purpose.

Pros

  • No fees.

  • Competitive rates among online lenders.

  • Offers 0.5 percentage point rate discount for setting up autopay.

  • Special features including rate beat program and satisfaction guarantee.

Cons

  • No option to pre-qualify on its website.

  • Requires several years of credit history.

  • Does not offer direct payment to creditors with debt consolidation loans.

Qualifications

  • Minimum credit score: 660.

  • Several years of credit history.

  • Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

  • Strong payment history with few or no delinquencies.

  • Investments, retirement savings or other evidence of an ability to save money.

  • Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Rates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice. AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $25,000 loan at 4.98% APR with a term of 20 years would result in 240 monthly payments of $164.71. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

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Upgrade
Get rate

on Upgrade's website

Upgrade

5.0

NerdWallet rating 
Upgrade

Est. APR

5.44-35.47%

Loan amount

$1,000-$50,000

Min. credit score

560
Get rate

on Upgrade's website


Min. credit score

560

Key facts

Upgrade offers personal loans plus credit-building tools; you'll need strong cash flow to qualify.

Pros

  • Allows secured and joint loans.

  • Offers a wide range of repayment terms.

  • Offers 0.5 percentage point rate discount for setting up autopay.

  • Offers significant rate discount for checking account customers.

  • Offers rate discount with direct payment to creditors on debt consolidation loans.

Cons

  • Charges origination fee.

  • No co-signed loan option.

Qualifications

  • Minimum credit score: 560; borrower average is 678.

  • Minimum annual income: None; borrower average is $78,000.

  • Minimum number of accounts on credit history: Two accounts.

  • Maximum debt-to-income ratio: Less than or equal to 75%, including mortgage and calculating in your new personal loan.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 5.44%-35.47%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

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Discover
Get rate

on Discover's website

Discover® Personal Loans

5.0

NerdWallet rating 
Discover

Est. APR

5.99-24.99%

Loan amount

$2,500-$35,000

Min. credit score

720
Get rate

on Discover's website


Min. credit score

720

Key facts

Discover personal loans can be a smart way to consolidate or refinance debt for borrowers with excellent credit.

Pros

  • No origination fee.

  • Offers direct payment to creditors with debt consolidation loans.

  • Offers mobile app to manage loan.

  • Able to fund loans within one business day.

  • Wide variety of repayment term options.

Cons

  • Charges late fee.

  • No co-signed, joint or secured loan options.

  • No rate discount for autopay.

Qualifications

  • Minimum credit score: 720; borrower average is 750.


  • Must be a U.S. citizen or permanent resident.

  • Must be at least 18 years old.

  • Must have a minimum household income of $40,000.

Available Term Lengths

3 to 7 years

Fees

  • Origination fee: None.

  • Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 5.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

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How to compare cosmetic surgery loans

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. One of the first things to know about a loan is its annual percentage rate, which represents the entire cost — including any fees — and should be clearly disclosed by the lender.

At a 10% APR, a $7,655 loan paid back over 3 years would require monthly payments of about $247 and a total interest cost of $1,237.

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 education tools, free credit monitoring and an option to defer a payment.

Pre-qualify for a cosmetic surgery loan

Pre-qualifying will help you get an understanding of the rate and term you can get on a personal loan, and most online lenders perform a soft credit check during pre-qualification, which won’t hurt your credit score.

You can pre-qualify with multiple online lenders through NerdWallet to see which loans are available to you and which offer the lowest APR. Your credit score is not affected when you pre-qualify with NerdWallet.

Alternative ways to finance 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.

Savings. Like most other discretionary expenses, NerdWallet recommends saving up for an 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, one popular medical credit card, allows you to use the card to pay for a procedure that costs $200 or more. You won’t be charged interest on your repayment if you pay it back in full by the end of the term.

Be cautious when considering this type of card, though. According to the company’s website, if you don’t pay back a CareCredit purchase in full by the end of the term, you’ll be retroactively charged all of the interest, which can be high for new accounts.

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 to qualify.

Last updated on January 11, 2022

Methodology

NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial institutions. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. 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. 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.

This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

To recap our selections...

NerdWallet's Cosmetic Surgery Loans: Financing Plastic Surgery in 2022