Major items you can’t pay off immediately
Credit cards can provide certain protections when it comes to big-ticket purchases. But only if you can afford to pay it off right away and in full. Otherwise, steer clear of any major purchases that will only increase your interest and ultimately, your overall debt.
A credit card is not your easy access to an extravagant lifestyle. You’ll have to pay back every dime and then some. If you don’t actually have the financial means, aka cash, to pay for that exotic vacation or that flat-screen TV, keep the plastics deep inside your wallet.
You’d better secure your thinking before trying the next one…..
25 thoughts on “11 Purchases You Should Never Make with a Credit Card”
I would love to have that?
Most of these ‘you should never buy with a credit card’ assume it’s being done because the purchase is an unaffordable luxury – or a bill that should be payable in cash. But I get back 3% on my grocery purchases, 4% on my gasoline purchases, and 5% on my Internet / cell phone / streaming services, 3% at gas stations, and 5% back on any Amazon purchases. Anything else I get back at least 2% with my City Double Cash card. (1% when you make the purchase, 1% when you pay the bill.) In the course of a year I get back many hundreds of dollars. Oh, and I pay $0.00 in ‘interest’ and $0.00 in annual card membership charges.
For those who have some financial discipline, it makes total sense to buy with a credit card those things you recommend against. OTOH my brother and sister in law are terrible with money and they only use a debit card so they can’t go into debt yet AGAIN.
I always autopay my medical bills, utility bills and business bills. I also spend about $100,000 in Visa purchases annually. I never pay late/credit interest. My credit score is 836 Experian. Pay your credit cards in full every month and you will have great credit and live within your means (I started this way when I only made $24,000 annually in 1981).
I pay the entire balance each month and have for over 50 years. Have never had an interest charge. This article of no value to me.
All of these can be summed up into a few concepts.
1) Credit Cards have horrendous interest rates between 20 % and 30 %.
2) If you can not afford to pay cash now you will not be able to pay Card Debt Later.
3) Save 10 % of your income (or more) each month for a few larger purchases later.
4) If you want to live well, invest in a good education doing something you like to do.
5) Growing wealth takes time, so plan on living 100 years, and invest for it.
Buy whatever you want with a cash back or rewards credit card and pay it off every month. This article is for stooges that are always in debt. It is not what you buy that causes financial problems it is the person buying it.
Itl’s taking so long to FIND the 9 items not to purchase w/a credit card-I give up.
Guess u can’t use ur Credit Card for anything WOW ashy have one
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.
So you better leave all your credit cards in the freezer – or why don’t you cut it into small pieces.
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