Credit cards to help furnish a new home???? What!!

pexels-credid cards-164571

I came across this article on Yahoo Finance, which I believe normally has some good stuff.  Read it, but do NOT do what is suggested.  This article to me is so wrong on so many different levels.  Let me explain.

It suggests you use your credit card for groceries, hmm, you are going to buy, let's say a weeks worth of food and you spent $200.00.  If you did that for 4 weeks $800.00.  Now when you get the bill for $800.00 at the end of the month, you don't have $800.00 to pay the bill off.  So, now you pay the minimum amount on the credit card or whatever you can afford.  Now, you are going to continue to pay on Food that you ate 4 weeks ago--does that make any sense?  Not to me.

Costco Anywhere Visa Card by Citi

Rewards: 4% cash back on up to $7,000 in eligible gas purchases per year.  Where on earth does this even make sense!  I will do a little math for you.  If you spent $7000.00 in gas in a year, you would spend $583.33 a month in gas, $145.83 a WEEK in gas.  Enough said, I hope.

Annual Fee: $0 (with a paid Costco membership)  Haha no annual fee its called membership!  And yes its annual.

I can not believe that Costco and Citi Bank think that we are so stupid as to fall for this kind of advertising.  Shame on them.

And no I am not a Costco member now and will never be.  Nor do I do business with Citi Bank.

And that is just the beginning of this article, so if you haven't read it don't waste your time and be insulted by it.

Instead, check this out: