7. Credit card payments
Technically speaking, we can not charge our monthly credit card payment on a different credit card, but, we might have been tempted to get a cash advance from our credit cards in order to pay our monthly bills.
However, it’s not a good idea, since you’ll have to pay a cash advance fee that comes with a higher interest rate on that specific amount of money. Plus, forget about that grace period on the interest, you will not going to get it when referring to a cash advance.
Also, interest will skyrocket immediately. So, do not confuse your credit card with an ATM… You’ll most likely regret it.
Just a final reminder that sometimes things are not what they appears to be…..
1 thought on “8 Purchases You Should NEVER Make With Your Credit Card”
These suggestions are good if a consumer has a habit of keeping balance. I pay for the balance every month so I cannot give up use of credit card because it is automatically 2% back as travel money. I charge HOA fees; $14.95 fee is less than 2%, rebate if I pay at least quarterly. Some utilities will encourage credit cards, then I pay from my checking accounts.
A also try to keep 6 months’ living expenses in my cash account, too. Amazon’c 5% back is also beneficial, so is Costco’s citi cards. I have to make sure the balance is within my means It is all about managing the money.