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

The content is accurate at the time of publication and is subject to change.
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:

Related Research:

Top 5 Secured Credit Cards: October 2020 – Experts’ Choice

Top 5 Secured Credit Cards: October 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… 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!