5 Things You Should Never, Ever Buy With Your Credit Card — And Yeah, Bitcoin, Dogecoin Top The List

Just like the debate over pineapple on pizza, there's clear consensus when it comes to what shouldn’t land on your credit card. While credit cards are a great way to secure airline tickets, grab online deals, or even snag some savings on home loans, misuse can lead you down a slippery slope of extra fees and towering interest rates.

So, regardless of whether you're pro-pineapple or staunchly opposed, let's dive into five purchases that you should keep off your credit card to avoid financial heartburn.

1. Buying Cryptocurrency

First up, keep your crypto buys away from your credit cards. The fees alone could haunt your wallet's dreams! When you buy cryptocurrency like Bitcoin or Dogecoin with a credit card, you’re not just buying; you’re also paying high transaction fees, potential cash advance fees, and suffering from the biting volatility of crypto markets. Security risks and missing out on typical credit card rewards are the cherries on top of this not-so-sweet deal.

2. Mortgage Repayments

Thinking of tapping your credit card for the mortgage? Think again. This move transforms your payment into a cash advance, bringing along a parade of fees and higher interest rates. Imagine paying an extra $49.50 monthly on a $1,300 payment. Over 30 years, that's a jaw-dropping $17,820 just in fees!

3. Tax Bill

Owing money to the taxman is bad enough without adding a credit card into the mix. Placing your tax bill on credit categorizes it as a cash advance, piling on fees and higher interest rates. Instead of reaching for your card, try setting up a payment plan directly with the tax authorities.

4. House Deposit

Using your credit card for a house deposit is a quick ticket to financial stress. It’s not just the immediate fees; it’s also about jeopardizing your future borrowing by appearing financially unstable to lenders. Most won't be thrilled to loan money if they see you’re funding your down payment with credit.

5. Medical Bills

That unexpected medical bill? Don't even think about slapping that on your credit card. The high interest can turn a bad situation worse. Better to negotiate a payment plan directly with your healthcare provider, which typically comes at a lower interest rate than your card would offer.