Photo credit: Getty Car dealers often don’t allow credit card purchases, or may limit the amount of the purchase price you can put on your card. Also, you won’t get a grace period on the interest — it will begin to accumulate right away.Dealers don’t like credit card payments because they have to pay the 1 to 3 percent fee the card company charges to process the transaction. Instead of using a card, go to a credit union or bank to get financing approved at a reasonable interest rate before shopping for a car.Still, a bad credit score can make life pretty hard and prevent future loans and home mortgages.Not to mention that when a couple marries, their credit score is taken on average.In fact, do your homework before purchasing anything online to make sure a company is reputable and not the source of many consumer complaints.Which purchases do you refrain from making with your credit card?
Paying your student loan debt with a credit card increases the amount of interest you’re paying on the debt.
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More often than not, dating begins with the exchange of a number. Instead of trading digits with someone you’re interested in, maybe the first information you offer up should be your credit score.
Photo credit: Getty You can’t charge your monthly credit card payment on another credit card.
But perhaps you’ve been tempted to use a cash advance from a credit card to bolster your checking account so that you can pay other bills.
We’ve already explained the folly of cash advances.