Keep your credit card away in these situations


Yes, you would be protected if you ever receive a product that was not as advertised. But you will rack up quite a foreign transaction fee.

This also goes for using your credit card when you’re travelling in a foreign country.

Matriculation fees

First of all, there are various workarounds to not landing an enormous student loan debt, but using your credit card is certainly not one of those.

By doing this, you’re just essentially transferring a debt and making it not tax-deductible, which will definitely hurt you in the long run.

What’s worse is that credit card interest rates are much higher than a student loan’s. A credit card company will not take into account that you’ve graduated.

As an added disadvantage, a lot of universities actually make you pay a fee for using a credit card, which is their way of discouraging this kind of payment.

At the end of the day, when thinking about how you’re going to pay off your college tuition, it’ll do you a world of good to take your credit card out of the equation.

Getting cash advances

Sometimes, you might need to get money out of an ATM, especially if it’s an emergency situation. But do your best not to make a habit out of this.

Why? Getting a cash advance will incur an exponentially higher interest rate than a regular purchase. That’s not even including an interest fee. Yes, that’s two compounded fees just for one withdrawal.

If you really need actual cash, then use your debit card. Using an ATM (especially if it’s a local transaction, overseas fees are frustratingly high) will hurt you a lot less.