10 Things You Should Never Put on a Credit Card

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Credit cards can make your life a lot easier, but they can also create major financial headaches for you when they’re used to purchase the wrong things. If you think it’s OK to use your credit card for any and all purchases because of the swell perks and rewards you’ll get, think again. Here is a detailed list of things you should never pay for with a credit card, along with why it would be a terrible idea to do so.

1. Mortgage Payments

If you’re low on cash one month, it might be tempting to make your mortgage payment with a high-limit credit card, but there are problems with this thinking. For one thing, many mortgage companies won’t let you pay your mortgage with a credit card. Although there are third-party companies that will enable you to use your credit card to pay your mortgage, they often also charge fees for this convenience, which will just add to the amount you’re paying in bills each month.

Should you be able to circumvent your mortgage servicer and find a way to pay your mortgage with a credit card, it’s still a bad idea if you don’t plan on paying off your card balance in full each month: You’re already being charged interest on your mortgage, so why add more interest to the amount you’re putting on your credit card balance?

Furthermore, charging a large amount like your monthly mortgage payment will lower the amount of credit available to you, which could lower your credit score.

See the other 9 things you shouldn’t put on your credit card at GoBankingRates.com!

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