If you have a credit card, you can use it for just about anything you want to. Once you get a credit card, they give you a credit limit which is the maximum amount of money you’re able to charge to that card, but a credit card company really doesn’t care what you spend it on.
Thus, part of the danger of a credit card.
It’s easy to get a credit card with the sole purpose of using it just for furniture or textbooks or some other expensive purchase you can justify. The danger is you end up using it for other things that you never really planned for. You decide to take a small shopping spree or a weekend getaway with friends or decide to buy the latest gadget or gizmo.
If you want to have a credit card just for expensive purchases, the best thing to do is just save up and pay cash.
Let’s say you want to buy a living room furniture set for $500. Instead of just charging it to the credit card where you’ll end up paying more than $500 because of interest and possible fees, just save up the cash for it. If you can afford to save $100 each month, you know you can get the furniture in 5 months.
Don’t get a credit card for expensive purchases…just pay cash.
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Well the best thing I guess would be to just never get a credit card. It is expensive and for the most part no necessary but merely a solution to poor money management.
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