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6 Costs to Avoid Putting on a Credit Card

submitted on January 27, 2011 by pablos17 in "Member's Lounge"
There are some things experts say you should never put on a credit card if you can't pay the bill right away -- either because they're frivolous, or they can land you deep in debt or, in some cases, because there's a better alternative.

If you have plenty of money in your bank account, it can make sense to put just about any big purchase on your credit card because of the rewards , convenience and consumer protections that come with plastic. When you're broke, though, it's one thing to use your card for an emergency. It's quite another, however, to splurge on a mommy makeover, an island vacation or a diamond engagement ring .

Here are six credit card purchases experts say cash-strapped consumers should avoid at all costs.


1. A big tax bill
2. A gambling spree
3. College tuition
4. Plastic surgery
5. A lavish wedding
6. A trip for two


Read more:
http://finance.yahoo.com/news/.....7.html?x=0
     

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  • 99986
    orangearrows
    professor
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    Posted by orangearrows on January 27, 2011
    [reply] 4 0
    I think if you are not aware of how the interest is adding to your balance - any cost if going to get big ...in no time.
    Most banks ( atleast Capital One and Chase) explain how the interest is going to affect the balances over time.
  • 100161
    CouponNut
    deity
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    Posted by CouponNut on January 27, 2011
    [reply] 3 0
    Frankly, if I don't put anything on my credit card unless I can pay the bill in full the next month. Mr Green
      100165
    • arzkar
      professor
      3
      Posted by arzkar on January 27, 2011
      [reply] 3 0
      That is smart CouponNut Cool
  • 100211
    deby32953
    professor
    Posted by deby32953 on January 28, 2011
    [reply] 3 0
    We just finished last month paying off $60,000 worth of student loans & credit card debit. Only took 11 years! Never again! I agree with the nut! Mr Green
      100291
    • pablos17
      deity
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      Posted by pablos17 on January 28, 2011
      [reply] 1 0
      Congrats on getting rid of that awful debt. You must be so relieved.
    • 100426
    • CouponNut
      deity
      23 14 8
      12 10 2
      Posted by CouponNut on January 28, 2011 [reply] 0 0
      Wholly Cow, thats alot of $$$$$$

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