Financial Experts Say Never Use Credit Cards for These 6 Purchases


Your credit card can simplify life. It can help you build credit, save you trips to the ATM, and give you cash back or reward points that debit cards can't. New technology has made cards more widely accepted for transactions of all sizes. Swiping to pay doesn't always mean you should. Discover the credit card purchases financial experts advise against.

Cash advances


Credit cards can be used to withdraw cash in a pinch. However, experts warn that using plastic this way can be costly.

Unexpected expenses


Credit cards let you cover unexpected expenses without draining your bank account. While having it for emergencies is comforting, experts warn that you may be setting yourself up for financial trouble.

Subscription services or memberships


Subscription services are becoming more popular in business, and most regular charges are being put on credit cards. This can help you organise and track your expenses. However, if you're not careful, you may miss unexpected bill changes or increases.

Everyday expenses


Stores make it so easy to use a credit card or tap your phone that it's easy to forget about other payment options. If you're on a budget, even the necessities can add up if you're not careful.

Expensive items with a long payoff period


Credit cards can boost spending power. This is helpful if you need more time to pay off a necessary or planned expensive purchase. Experts advise against swiping or tapping on the sale without a clear payment plan.

Impulse purchases


Credit cards can simplify our lives, but they can also lead to overspending. The feeling of having an endless supply of cash can lead to unnecessary purchases and deep debt for some consumers. It's crucial to avoid this common trap.

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