Millions of people max out their credit cards, and an increasing number max out because of a costly medical condition. Patients want to pay their medical bills, or they must pay their bills in order to receive care. But, these days, using a credit card to pay medical bills likely means a medical debt hike because interest rates are rising

Using a credit card when you are unable to pay off the debt as required by the bank issuing the card is a risky proposition and a particularly risky one now. Interest rates are rising. Credit limits are shrinking. Failing to pay the minimum jeopardizes your credit rating and could lead to all kinds of toxic consequences, including wage garnishment and lawsuits.

Each time the Fed raises its interest rate, the cost of borrowing money for just about any reason is likely to increase. Credit limits could shrink, leaving people with more debt on their credit cards than is permissible. They are potentially liable for higher penalties if they don’t pay the debt back. And, getting credit is also likely to be more difficult.

If you can’t pay your medical bill, whatever you do, think twice before agreeing to a credit card from your hospital. The card might seem appealing and help you at the moment, but it could have exceptionally high interest rates. Credit card interest rates are already very high, as much as 21 percent. People who owe more are likely to be charged higher rates because they present greater credit risk.

One hospital credit card, CareCredit does not charge interest for as long as 24 months if cardholders pay off their debt. But, people who do not pay off their debt can be stuck with interest from day one. And, the interest rate charged is currently 27 percent for new accounts.

Anyone who is struggling to pay for medical care should look into Medicaid eligibility requirements in their state. Many states allow you to “spend down” to Medicaid eligibility levels, meaning that even if your income is above eligibility levels, if your medical expenses bring that income down to below eligibility levels, you could qualify for Medicaid. Assets will be considered, but the value of your home, if you own it, is not considered. If you qualify, Medicaid could retroactively cover some of your care.