Big-Ticket Purchases To Not Make With Your Credit Card

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Big-Ticket Purchases To Not Make With Your Credit Card

Big-Ticket Purchases To Not Make With Your Credit Card

You can use your credit card to purchase just about anything these days. And close to 75 percent of Americans have credit cards for everyday purchases, according to the US Census Bureau. Even though every one seems to have a credit card, they don’t necessarily know what to charge and what not to charge. Everything is not meant for credit, here are some large-ticket items that you don’t want to charge, as they can leave you paying off interest on the item for years to come. Some people put their homes and medical expenses on credit cards, and if you are financially disciplined, this too can work for you, as there are certain cards that are credit cards specifically designed for that. But here are a few expenses that are never good to put on your credit card. Tuition: Don’t put your college tuition on your credit card, it is a sure fire way to send your debt through the roof. College is already expensive enough, and the added interest that comes from a credit card can make college more expensive that it needs to be. Also problems can arise when you can’t afford to pay your credit card bill and you may be subject to extra fees or even kicked out of school for non-payment Wedding: Weddings can be very lavish, and it is not something you should put on a credit card. With catering costs, decorating costs, and the expense of bringing two sets of families together can send you in the doghouse if you pay with it all on a credit card. Instead, save up to finance your wedding. Plastic Surgery: There are a few credit cards that cover plastic surgery, but it’s only if you’re a habitual offender. If you are getting plastic surgery once or twice, opt to not put it on your credit card. These expensive purchases can take years to pay off, and doing it with credit isn’t the way. Plastic surgery procedures usually aren’t covered under insurance, as they are considered a commercial procedure. It’s in your best interest to save up for your plastic surgery on your own, and if you can’t personally finance, only charge a portion of it, not the whole thing. Gambling: Gambling is a huge risk in itself, don’t bring your credit card into it. Once you bring your credit card into your gambling match, it becomes easier to bring your home and car in for collateral. If you bring your credit card into your gambling debts, you may have a problem. Taxes: If you owe the government come April 15th, don’t use your credit card to pay them off. In addition to interest rates that you would pay on the amount, the IRS charges a convenience fee anywhere from 1.90 percent to 2.35 percent. More and more consumers are feeling comfortable using their credit cards after the Great Recession of 2008 put a serious damper on the nations finances. If you are one of these consumers, then make sure to think twice when you make big-ticket purchases.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Posted: February 12, 2018

Days are getting longer, snow is melting and you already feel the lightest breath of warm breeze on your face - spring is here. Summer holidays are looming, and so is Easter with its shopping. You can lift in spirits and let CreditLand ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: February 10, 2018

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop

Posted: February 8, 2018

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!