A growing number of Americans say they whip out a credit or debit card even when spending less than $5, according to a CreditCards.com survey of 616 people with major credit cards. (Photo courtesy Fotolia/TNS)

5 Things You Should Never Put On A Credit Card

By Kristy Welsh
GOBankingRates.com

WWR Article Summary (tl;dr) While it may be very tempting to whip out that credit card to pay for your latest purchase, you may want to think twice about what you are actually purchasing….some things just aren’t worth the swipe.

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Even though building credit and racking up credit card rewards can be great for your finances in general, there are some things you should never put on your credit card because you can incur big fees and higher interest rates. Avoid putting the following expenses on credit cards so that you don’t end up making it harder for yourself to get out of debt.

MORTGAGE PAYMENTS
If you’ve ever wondered, “Can I pay my mortgage with a credit card?” the answer is maybe, but that doesn’t make it a good idea. If you’re low on cash one month, it might be tempting to pay your mortgage payment with a credit card that has a high credit limit. But there are problems with this thinking.

For one, some mortgage companies won’t let you make direct payments with a credit card. Although some third-party companies will help you use your credit card to pay your mortgage, they often 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 credit card balance in full each month: You’re already being charged interest on your mortgage, so paying more interest on your credit card balance is both expensive and avoidable.

Lastly, charging a large amount to your credit card will lower the amount of credit available to you, which could lower your credit score. This could also happen if you choose to pay your property taxes with credit cards.

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