LENDING SOMEONE A CREDIT CARD
Thirty-six million U.S. adults have had a negative experience lending a personal credit card to someone they know, according to a CreditCards.com study. Among that group, 19 percent lent it to someone who overspent, 14 percent were never repaid, and 10 percent didn’t get the card back at all. “You really are playing with fire when you let someone else use your credit card, so proceed with caution,” said CreditCards.com senior industry analyst Matt Schulz. “Whether they spend more than you anticipated, don’t pay you back, or you never see the card again, ultimately, you are the one who is responsible.”
