May 2, 2008, Newsletter Issue #113: LASIK Credit Rating

Tip of the Week

Many patients will use their plastic to pay for LASIK surgery, but according to OPHTHALMOLOGY MANAGEMENT, 25 percent of patients choose LASIK financing offered by surgeons. If you're in that range, you may worry that your lack of creditworthiness will mean being saddled with the ever-increasing costs of having glasses, not to mention the inconvenience.

It's true that banks prefer a debt-to-income ratio of 20 to 35 percent. Any surgeon who assures you of getting LASIK surgery financing regardless of your ability to pay or credit score may not know all the facts. Your surgeon is concerned with your eyes, of course, but does not want to chance taking on credit problems.

If, however, you now have a stable job history and your debt-to-income ratio is within the range of what banks consider acceptable, you're more likely to be approved for LASIK financing by your surgeon. You can probably get a quick response to your loan application while you're still in the surgeon's office, since many surgeons prefer to use LASIK financing plans with simple credit applications and fast decisions.

Get your credit report online from one of the major companies: Experian, Equifax, or Transunion. Once you're armed with information, you can walk into your surgeon's office with confidence.

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