Credit cards make buying easier with all its benefits. But if you mishandle it, you might be buried under piles of debts. If you were smart enough, it would best not to use it at all.
Here are the major things you shouldn’t pay with your credit card:
- Household bills. You might miss to pay your monthly credit card balance because of this, which will make you pay higher interest rates later.
- Cars. Approach a bank or a credit union to get the best financial deal for your car purchase.
- Student loans. Instead of paying it with your credit cards, look for alternatives like income-based payment or even forgiveness.
- Shopping. This may be therapeutic, but the stress you get for debts you have to pay after will be worse.
- Medical bills. Talk to the medical credit card provider about the obligations or the right payment plan.
- Out of town expenses. Use cash to avoid future remorse.
- Expensive items you can’t afford at the moment. Save and learn the value of delayed gratification.
- Credit card balance. There is no logic in paying loans with a loan.
- “Sale.” Don’t let your impulses and their marketing strategy win.
- Online Items. Be vigilant online to avoid fraud.