Things You Should Never Put on a Credit Card




Things You Should Never Put on a Credit Card

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Growing up as a kid you must all be annoyed when your parents scolded you and forbade you from doing something stupid. Everything that our parents once forbade us was meant for our good, similarly now as grownups there are certain things that we must all abide by to save ourselves from troubles. There is a list of do’s and don’ts when it comes to using credit cards. Much like pre-approved payday loans, not all credit purchases are healthy for you. Credit cards are a great alternative for money and your best friend in troubled times. There are a few things that you shouldn’t put up on your credit cards for it may add up to your debt, cause fraudulent activity and unnecessary tension. Credit cards can  make your life easy are then equally capable of frustrating you with legal obligations and financial headaches. Slipping of one hand and you may find yourself caught up in debts, debentures and cost that you did not think of in the first place. Following are some of the Don’ts that one must consider before putting on to the credit card for their own convenience and ease of use in the future,

Mortgage Payments

It is surely not advisable to pay off one debt using a method which may stress upon you another burden of heavy debt in the future. Mortgage payments shouldn’t be conducted through your credit cards since they are a potential disaster for you. You are already paying hefty fees and charges on your mortgage, why would you add another percentage of interest on your credit card bills by mortgage payments. There may be many third parties that will lure you into it and paying off your bills/ mortgages through credit cards may be tempting, but it will only lead you and your account into the dumps. So be careful with this one and never put mortgage payment on your credit card.

Medical Bills

If the times are hard and cruel on you, you must not fall under the pressures because you may not know what awaits you in the future financially. Be wise with your credit card dealings, since you intend to pay off your medical bills or your emergency pet loans from medical bills through it, then you are in serious cash outflow and debt. By doing so you are only adding more to your interest rate and expenses along with debts. Your credit card or issuers can charge you a big interest rate on the medical bills that you paid through your credit card.


However, it is perfectly legal to pay your taxes through your credit card, but there is a significant reason for why you should not do it. The reason is that your tax Preparer charges you with an additional or convenience fee, which is almost 2-3% on your card credit. Since you need to pay off a large amount of tax this small figure of 2-3% would add up to huge numbers and costing you a great deal of loss. If you do this for small taxes still then you are incurring losses by potential loss of 2-3% of your credit. There is an added disadvantage to using such a method for paying taxes, which is that it drops your credit score which instigates risk on your reputation and goodwill. You will look risky to your issuer for any future transaction and financial help. So never put your taxes on the verge of credit cards because of all the above mentioned solid reasons.

College tuition fee

Thinking of yourself as a student and getting your mind off from student loans is a good approach, but paying off your tuition fee with your credit card is another stupid and nonsensical approach as it too lands you with numerous harms. This not only adds up to your cash inflow, but results in your decrease of credit score. You can always apply for scholarships, government grants, private student loans and many such alternatives, but using your credit card to pay off your fee is not an ideal thing to practice. Interest would start to build up on your credit balance that would be hard to write off and you would be landed with heaps of troubles and debts at the end. Many institutions that accept credit also charge and additional fee of 2-3% of the tuition payment. So are you ready to deal with that drama? So think wisely before you put that on your credit card.

Down Payment

The first rule of down payment is that if you have no resource or enough money for the down payment, then do not, we repeat do not get the loan. And don’t consider title loans in Las Vegas. It’s all logical since you cannot afford it. All you are doing is adding additional cost to your item. You are incurring high interest rates on your items and credit cards by putting down payment on your card. Wait and save money for down payment if you really need that going, but do not be hasty with such huge investment through credit cards. The banks and companies would charge you a significantly huge amount for processing huge transactions so practice care and supervision with that.

A Big Fat Wedding/Dream Wedding

We know all you have wanted your entire life is to have a big fat, dreamy wedding and why not, you own it, you deserve it and you have the right to it. But doing so you must not put that huge amount on your dream and big wedding since your budget and your pocket by the end of the day would not allow you with this. If you still want a three-tiered cake with aisle covered with orchids and roses, you need to find an alternative. The best idea is to let go of the lavish concept and be straight forward with your spending. Do not put this much of a burden on your credit cards because it is not worth it.

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