8 Purchases You Should NEVER Make With Your Credit Card

8 Purchases You Should NEVER Make With Your Credit Card

In an attempt to keep their money safe, most Americans are tempted to reach out to their plastics instead of paying with cash. While there are many disadvantages when paying with cash, such as security, credit cards are no good either. At least not when referring to certain purchases.

Your credit card is not the best form of payment, especially when you’re struggling with debt. Fortunately, if you’re facing a ton of debt, you can still keep your finances safe and avoid adding more debt by steering clear of the following credit card purchases.

1. Household Bills

As more and more American adults struggle to pay their household bills, they have no choice but to use their saving accounts. Cellphone, utility, as well as cable bills, shouldn’t be paid with a credit card.

How so? Because if you’re not used to paying off (or you just can’t) your full balance every single month, you will face an interest that will make your household bills even more expensive.

2. Cars

Most car dealers don’t agree with credit card purchases and that’s mainly because they will have to pay fees in order to process transactions. However, if you don’t have the possibility to pay for the car outright, you should definitely visit a credit union or your current bank to get approved for a car loan.

Thankfully, to get the best interest rate possible, you can compare the vast majority of auto loan rates online.

3. Retail Therapy

If you think that a new purchase will boost your mood levels, you’re wrong. You’ll probably be happier for, let’s say two hours after making the purchase, but you will most definitely regret it the next day when you’ll see that your credit card balance went nuts.

4. Medical Bills

Are you using a medical credit card in order to pay the bills? If that’s the case, make sure to check the fine print, especially your obligations regarding when and, more importantly, how interest is charged.

Also, if possible, try to reduce your health care costs as much as you can.

TO READ MORE:  https://legalguidancenow.com/1088/yahoo/1115955/20004/8-purchases-you-should-never-make-with-your-credit-card/