11 Purchases You Should Never Make with a Credit Card

Business startup costs

It might be difficult for a business without a credit rating to get a credit card, but using your personal credit card to cover the expenses is not the best idea. Firstly, a new business is not profitable right from the very start. It might take a few years before you can make more money than you actually invested. In the meantime, you’ll still need to pay a high interest, which will add up if you can’t pay it off right away.

Secondly, if the business isn’t successful and you go bankrupt, you will not be off the hook when it comes to all the credit card charges. Instead of using your personal credit card to open up a business, opt for a small business loan which generally doesn’t exceed 4.5 percent.

You might also be interested in 7 Ways Spending Money Can Actually Make You Happier.

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25 comments on “11 Purchases You Should Never Make with a Credit Card”

  2. Kenneth

    Actually, I did buy a car once using a credit card because it was the only way I could get a car. After the purchase, another credit card made me an offer to give me a low interest rate if I were to switch my credit card debt to that one, which I did. I didn’t use the new card to buy anything until after the car paid off.

    Reply
  6. Devon

    low blow mentioning your brother and sister in law, especially after going on and on and on about yor “financial discipline”.
    “oh,” – nobody cares….

    Reply
  7. M Johnson

    I recently bought a new mattress it was a planned purchase I picked my purchase went up removed my check book and he said oh no we don’t take money. He proceeded to set me up applying for a credit card I was approved. If I paid off no interest and at a lower sale price. My husband was furious. My credit took a hit because yes I canceled right away. But credit back I’ve destroyed the card for

    Reply
  9. Mark

    Is there anything left that can use credit card for? All this is simply not valid article. Simply know your credit card limits and ability to pay it off. If you can not pay it off. Do not but it. or Do not have a credit card in first place. Do not live above your means.

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