Credit cards offer convenience and even cash back or rewards points. But some expenses should be avoided due to high interest rates. Here are 10 things.
Tax Payments
01.
Paying taxes with a credit card incurs additional fees, increasing your tax bill unnecessarily.
College Tuition
02.
Universities often charge a significant fee for credit card tuition payments, making it more expensive.
Medical Bills
03.
Using a credit card for medical expenses can lead to high-interest debt if not promptly paid off.
Mortgage Payments
04.
Most lenders charge high fees for credit card mortgage payments, adding unnecessary costs.
Investments
05.
Putting investments on credit equals serious interest costs that eat into your returns over time.
Cryptocurrency
06.
Foreign transactions on credit cards usually come with additional fees, making travel more expensive.
Cash Advances
07.
Cash advances from credit cards carry extortionate fees and sky-high interest rates in excess of 25%. Just say no.
Insurance Premiums
08.
Important protections like health, home or auto insurance should always be paid directly to avoid card fees.