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cards are good options for high-earning and high-spending physicians. Among the credit cards for doctors, this one might be best suited for those just getting started in medicine. Immediate family members can live anywhere and still be members.
But for the more fiscally responsible, a credit card, when deployed wisely, is a great way to reap travel, cash, and other rewards on the things you need to buy anyway.
Doctors have the option of donating rewards to NIH charities as well. Generally speaking, credit unions offer a higher level of customer service than banks, higher savings interest rates, and lower fees.
Citi Double Cash nets 2% cash back on all purchases and 1% when you pay your entire statement balance. All of those points will come in handy for doctors who like to travel. You also get a slight break on fees. This card could be worth it for a doctor with a family who uses the card for all household purchases.
Its not the best option if you plan to travel overseas, though, as youll pay a 3% fee for foreign transactions. Among the credit cards for doctors, this one might be best suited for those just getting started in medicine. NIH Federal Credit Union Visa Cards: Great for physicians who want the benefits of working with a credit union, with a smattering of cash back options thrown in. .
The Preferred card will award you 40,000. Here are some of the best credit cards for doctors. All of the cards have no fees, 0% APR for the first 12 months, and fraud monitoring. While there are few credit cards for doctors specifically, there are many that suit a physicians financial profile. To use these cards, you need to be a member of the NIH Credit Union. Again, high-spending doesnt have to mean spending on frivolous things. This, however, isnt accurate. Being a credit-worthy physician with an income that skews toward the higher end of the American average positions doctors to take advantage of some great credit card perks. Capital One Venture and Venture One Cards. Reserve also comes with a $300 annual travel credit, plus access to more than 1,000 airport lounges. Membership is open to NIH and healthcare-industry employees (and their immediate families) living in Maryland, D.C., North Carolina, Virginia, and West Virginia. Citi Double Cash: A strong option for newer doctors, or those who arent comfortable with putting all of their spending on a card. If you have excellent credit, the Venture Card earns you unlimited double miles, plus 50,000 bonus miles after you spend $3,000 in the first three months. Citi Double Cash is a good option for you. .
All of the cards have no fees, 0% APR for the first 12 months, and fraud monitoring. Or, youre a physician who prefers not to do all of their spending with credit cards. You also wont have to pay any annual fees, and theres no cap on the amount of cash you can earn. Just note that they have some hefty fees. The Venture Card waives the first year.
The credit union offers several Visa card options. Immediate family members can live anywhere and still be members. A lifestyle blog for healthcare professionals, brought to you by MDLinx. This card could be worth it for a doctor with a family who uses the card for all household purchases. After that, youll pay $95 annually. The Sapphire Reserve card offers 50,000 bonus points after you spend $4,000 in the first three months of opening it.
You can earn 10 miles per dollar spent at hotels.com/venture and 2 miles elsewhere. (To be clear, PhysicianSense and MDLinx receive nothing, should you apply for any of these cards. While youll get fewer up front with the Preferred card, Preferred gets you 3x the points on global travel and 3x the points on global dining, whereas Reserve gets you 2x. We just think theyre good.). Again, high-spending doesnt have to mean spending on frivolous things. Capital One Venture and Venture One Cards: A good fit for doctors who know they want miles as rewards. Youll still get some good cash-back rewards with this feeless card. If you dont want to pay an annual fee, the Venture One card gives you 1.25x the miles. Chase Sapphire Cards: World-traveling physicians who do the bulk of their spending with credit cards will enjoy the perks of the Sapphire Reserve and Sapphire Preferred cards. Membership is open to NIH and healthcare-industry employees (and their immediate families) living in Maryland, D.C., North Carolina, Virginia, and West Virginia.
Capital One Venture might be a good compromise option between the somewhat limited features of Citi Double Cash, and the big-spending requirements of the Chase Sapphire options. There are annual fees attached, however: $95 for preferred and $450 for reserve. Many personal finance writers would have you believe that credit cards are evil.
For world-traveling physicians, theres a travel card that awards 2 points per dollar spent on travel and dining, and 1 point per dollar for the rest. For world-traveling physicians, theres a travel card that awards 2 points per dollar spent on travel and dining, and 1 point per dollar for the rest. Doctors have the option of donating rewards to NIH charities as well. You also wont have to pay any annual fees, and theres no cap on the amount of cash you can earn. Generally speaking, credit unions offer a higher level of customer service than banks, higher savings interest rates, and lower fees.
The Sapphire Reserve and Preferred cards are good options for high-earning and high-spending physicians. Doctors who are looking to cash in on credit card perks should check out: By Jonathan Ford Hughes on November 15, 2019, receive nothing, should you apply for any of these cards. We just think theyre good.
is a good option for you. Venture One will give you 1.25x the miles without a fee.
Or, youre a physician who prefers not to do all of their spending with credit cards. The cash back card offers 3% back on gas, 2% on groceries, and 1% on the rest. ), To use these cards, you need to be a member of the. The cash back card offers 3% back on gas, 2% on groceries, and 1% on the rest. Citi Double Cash nets 2% cash back on all purchases and 1% when you pay your entire statement balance. Opening the card gets you a 0%, 18-month APR. For some, credit cards are personal finance kryptonite.