15 Expenses You Should Never Charge on Your Credit Card
15 Expenses You Should Never Charge on Your Credit Card

15 Expenses You Should Never Charge on Your Credit Card

Traditional bank
Neobank
Business
Personal
Credit Card

A credit card can be a lifesaver on many occasions. It allows you to pay for goods and services when you do not have enough money of your own. You can also use it when you want to make payments without spending the money in your savings or checking account.

However, a credit card can also be a fast way to run into a huge debt if you do not spend carefully. According to recent publications by The Guardian and Bloomberg, consumer credit card debt is rising in the United Kingdom. The increasing rate of borrowing via credit cards in Britain is now faster than it has been in over 15 years. A similar situation exists in many European countries and the United States. Major factors behind this trend include rising inflation, the high cost of living, and several economic consequences of the tragedy occurring in Ukraine.

CONSUMER CREDIT IN THE EURO AREA. Source: European Central Bank - AskWallet.io

Now there are different credit cards in use worldwide. They include those branded by the likes of Visa, Mastercard, UnionPay or American Express for traditional banks and neobanks, credit unions, FinTech companies, eCommerce stores, and many other establishments that issue credit cards.

Generally, card-issuing companies offer credit cards for business or personal expenditures. If your credit card was given to you by your employer for official use, it is a business credit card. But if you obtained it directly from a card issuer to make payments for your own needs, then it is a personal credit card.

Using this straightforward guide, we will show you the expenses you should never charge on your credit card to avoid running into debt.

Ibrahim Busari
Ibrahim Busari
Ibrahim Busari