Someone had said that if you want to know about the righteousness of your actions, all you have to do is ask if you would mind if the whole world knew about it! Well all of us certainly do not apply this rule to the ‘decision making’ part of our life. Why not apply it to personal finance and see of what gain it could be?
We all know that using credit card could be a tricky business. Every purchase you make is being tracked by the bankers and accordingly your credit score and cash limit is adjusted. So i suggest you to avoid using credit cards for 5 unique situations by which you could avoid lowering your credit score or credit limit.
1)If you are prone to get attracted to over speeding or parking your vehicles at wrong places, then you might better avoid using credit card for this , i.e. if you have decided to continue with this habit. As people who pay traffic tickets would be considered as a lower category borrower who is likely to be a defaulter.
2) Credit card companies think that saving money by retreading tires than replacing them, your financial condition has deteriorated. Hence your benefits might be altered. Can you believe it? In a Democratic country we do not even have the right to be a little more cautious about saving money.
3) I have not heard anything more funnier than American Express Curtailing the benefits for customers who do shopping at Wal mart, or any such bargain shopping outlet. It is believed that the sudden concern for money might be because of the fact that a job loss might be around the corner.
4) If you are consulting a relationship counselor,the credit card company thinks that the possibility of divorce might even leave you bankrupt as a lot of expense is involved in the process of divorce.
5) DO NOT BUY PORN with credit card. Adult entertainment is no more considered entertainment but an escape from real world. Hence they consider that the customer might even want to escape from his financial obligations. I wouldn’t be surprised if in coming years going to theme parks and watching movies are put under the same category.
Now don’t think that some employee is tracking down all of your activities, the computer is programmed to detect and keep a record of such purchases. Hence it would be better if you just paid cash for such purchases as you will have to give up on many benefits that might even include paying more mortgage interest.
There is more to follow in this regard in future. Meanwhile what are your opinions?
